To purchase land and construct House / Purchase a New House / New Flat / or the cost of extension / Renovation / Purchase of Old House / Flat / Takeover from other Banks/ FIs.
Term Loan
- For properties in Metro areas: Up to 50.00 lakh – Cost of House / Flat should not exceed 65 lakhs.
- For properties in Non-Metro locations: Up to 40.00 lakh – Cost of House / Flat should not exceed 50 lakhs.
- For Renovation: Not exceeding 10.00 Lakh.
- Top-up Loans:Maximum of 15% of the original Loan amount or 7.50 lakh, whichever is Lower.
HUF, Individuals aged between 18 and 50 years.
In the case of Joint borrowers, any one of the applicant/s is aged 50.
Sanction of Housing Loans under the scheme shall be restricted to One Dwelling unit PER FAMILY.
Margin :
- New Flats - 25%
- Purchase of Plot and construction of house thereon - 25%
- Construction of house on existing plots: - 10% on the Cost of Construction.
Renovation / Purchase of Old House/Old Flat:
- If the age of the house is below 5 years – 25%
- If the age of the house is above 5 years – 40%
- Old Flat irrespective of age – 30%
Repayment :
- Within a maximum of 30 Years (excluding Holiday period)
Security :
- Equitable Mortgage of the Land / House / Flat purchased / constructed / acquired under the Loan and the improvements / additions there to.
Interest :
Third dwelling unit onwards to an individual will be treated as Commercial Real Estate (CRE) Exposure and not eligible under Housing Loan including Affordable Housing Loan Scheme and attracts commercial R.O.I linked to MCLR
Fees & Charges
- 0.25% of the limit sanctioned plus taxes as applicable.