Loans to fulfill your dream....
|Planning to own a home is one of life's most rewarding challenges.
Plan building a home / buying a flat.
Leave the financing to us.
We have the right housing finance scheme for you..
- a. Purchase of a ready built house / flat.
- b. Construction of house / flat.
- c. Purchase of a site and construction of a house thereon. However, loan for the purchase of only site shall not be considered.
- d. For undertaking repairs, renovation, upgradation, creation of additional amenities with a ceiling of Rs. 15.00 Lacs in case of repairs & renovations.
- e. For acquiring second house/flat where the borrower is already having a House/flat with or without loan.
- f. For taking over of the HL liability from :
. All Public Sector Banks/Private Sector Banks
. NBFCs rated externally as A & above after ensuring that assessment by the NBFCs is acceptable and confirms to Banks policy guidelines.
- Salaried individuals confirmed in the service with a minimum service of 3 years.
- Individuals engaged in business / professionals and self-employed persons. Such applicants should have been in the business/profession for a minimum period of 3 years.
- A guardian on behalf of a minor, by declaring the date of Birth of the minor.
- The age of the borrowers should not be more than 55 years at the time of availing the loan.
- Persons above the age of 55 years are also eligible subject to certain stipulations.
We finance upto:
- 4 years of gross salary to salaried individuals.
- 4 years' gross annual income to individuals engaged in business or to self-employed persons.
- Selectively loan upto 5 years' gross salary/ income also permitted
- Rs.15.00 lacs for repairs / renovations.
|Amount of Housing Loans||New House / Flat||Old House / Flat|
|Upto 10 years old||> 10 years old|
|Upto Rs. 30.00 Lacs||10%||20%||25%|
|Above Rs. 30.00 Lacs & upto Rs.75.00 Lacs||20%||20%||25%|
|Above Rs. 75.00 Lacs||25%||25%||25%|
- Mortgage of House / Flat
- In convenient equated monthly instalments upto 30 years or borrower attaining age of 70 years whichever is earlier (subject to conditions).
- Nominal processing fee of 0.50% (Min Rs.1500/- and Max. Rs.10,000/-) is charged.
- At your choice. In case of take over of liability by other banks / HFIs, no prepayment penalties in respect of Housing Loans carrying floating rate of interest.
- Stipulated Loan Application with 2 passport size photos of applicant / guarantor
- Sale Deed
- Agreement for Sale
- Copy of the approved plan for the proposed construction / extension / addition
- Detailed cost estimate / valuation report from Bank's Panel Chartered Engineer / Architect
- Allotment letter of Co-operative Housing Society / Apartment Owners' Association / Housing Board / NOC from the Society / Association / Builders / Housing Board
- Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary
- Salary Certificate and Form No.16 (in case of salaried persons)
- IT Returns filed for the past two years (in case of non-salaried persons)
- A brief note on the nature of business, year of establishment, type of organization, etc., (in case of self-employed)
- Balance Sheet and P&L Account for the past three years (in case of self-employed)
For more details, please visit our nearest branch or call to toll free no. 1800 425 0018.