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 :
Fees & Charges
- 0.25% of the limit sanctioned plus taxes as applicable.