- Purchase of Residential Sites.
- Lower Rate of Interest.
- Reducing Balance Interest Rate.
- No Prepayment penalty.
- Minimal processing charges.
Three years gross Annual salary/income OR 75% of the cost of the site/guideline value (whichever is less).
A minimum margin of 25% shall be stipulated / maintained on the Project Cost consisting of site cost as shown in the allotment letter plus development charges, if any, not exceeding 10% of the site cost supported by documentary evidence.
Nominal processing fee of 0.50% on the loan amount with a Minimum of Rs.1,500/- & maximum of Rs. 10,000/- is charged
Rs.100/- Per Lac or part thereof with minimum of Rs.1000/- and Maximum Rs. 25000/-.
Mortgage of the residential site proposed to be purchased. Suitable Co obligation/personal guarantee of adequate net worth will be insisted.
10 Years OR maximum period permitted by the allotment agency for construction of house or upto 65 years of the borrower at the time of closure of loan whichever is earlier.
Proof of Identity
PAN CARD/Driver’s License/Voter ID /Passport/ Aadhar Card etc.
Proof of Residence
Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
Any other documents as required by Bank.