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Canara Kuteer – Housing Loan Scheme
PURPOSE
- For acquiring a residential site and constructing a house thereon.
- Acquisition and purchase of new or old dwelling units.
- Construction of house on already owned Site / plot.
ELIGIBILITY
Individual house hold Income in Rural, Urban, Metro areas and members of Self Help Groups i. Up to ?1,00,000/- p.a. ii. Above ?1,00,000/- & up to ?3,00,000/- p.a.
LOAN QUANTUM
Maximum quantum of Loan:
- For Household income of Up to ?1,00,000/- p.a : - ? 5,00,000/-
- For Household income of above ? 1,00,000/- & up to ? 3,00,000/- p.a : - ? 10,00,000/-
MARGIN
As per General Housing Loan Scheme guidelines.
RATE OF INTEREST
SECURITY
Mortgage of Residential site/Property.
Hypothecation of the assets created out of the loan proceeds.
Eligible loans in Urban areas shall be covered under Credit Risk Guarantee Fund Scheme for Low Income Housing (CRGFS) of NHB.
REPAYMENT
Not exceeding 30 years or 75 years of age of the borrower whichever is earlier.
PROCESSING CHARGES
0.50% of the loan amount (Minimum of Rs 1,500 and Maximum of Rs 10,000)
PRE-PAYMENT
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.