Learn more about our Home Loan Scheme under TMB Retail Loan Products.
Our home loan scheme helps you to buy / build your dream home as per your choice at the best possible interest rate and longer repayment tenure with easy documentation and quick processing. Loans under this scheme are sanctioned based on the applicant’s past repayment record as well as his current income earnings.
Additional Reduction of 0.50% in the rate of interest for existing and new loan borrowers with effect from Jan 01, 2014.
For a Home Loan of Rs. 10,00,000 repayable in 300 equal monthly installments at an interest rate of 11.25% p.a., the equated monthly installment (EMI) payment shall be around Rs. 9,982.40. Click for Monthly Amortization Chart.
# For purchase of Old House / Flat: House / Flat should be constructed within 20 years and residual life of the House / Flat should be 15 years and above. The Residual life should be certified by our Approved Engineer. Valuation of the property should be made by Approved Engineer and the Branch Manager.
# For take over from Other Banks / FIs: Loan amount will not exceed actual amount outstanding with the other Banks / FIs. Evidence should be obtained from the other bank/FIs that, it is a regular account. Repayment shall be The Residual Period with the other Banks / FIs. In case, if the customer insists for a longer repayment period than the residual repayment, it may also be considered provided the repayment falls with the residual life of the House / Flat. A Residual life certificate is to be obtained from our Approved Engineer.
All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Service Tax on All Service Charges extra wherever applicable.