- Lower Rate of Interest.
- Reducing Balance Interest Rate.
- Avail loan for installation of Roof Top Solar Photovoltaic System.
- Minimal processing charges.
- Longer Repayment Period.
In all the above case Mortgage of House property is mandatory.
HOUSING LOAN COMPONENT
Amount of Housing Loans | In case of New House/ Flat & Old House/ Flat (Up to 10 Years Old) | In case of Old House/Flat (> 10 Years old) |
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Upto Rs. 30.00 Lacs | 10% | 25% |
Above Rs. 30.00 Lacs & upto Rs.75.00 Lacs | 20% | |
Above Rs. 75.00 Lacs | 25% |
*In case of Housing Loan for Repairs & Renovation uniform Margin of 25% on project cost irrespective of the Housing Loan amount.
*Solar Loan Component: 20% of the Project Cost.
*Benchmark cost may be different in General Category States / UTs and Special Category States / UTs i.e., North Eastern States including Sikkim, Uttarakhand. Himachal Pradesh, Jammu & Kashmir, Lakshadweep & Andaman & Nicobar Islands. CFA shall be on benchmark cost of MNRE for the state / UT or lowest of the costs discovered in the tenders for that state / UT, whichever is lower.
**The residential sector users may install RTS plant of even higher capacity as provisioned by respective State electricity regulations; however, the CFA will be limited up to 10 kWp capacity of RTS.
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.
For Construction of House | For purchase of Ready-Built House | For purchase of Flats |
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Title deeds of the property and link documents for the last 13 years. | Title deeds of the property and link documents for the last 13 years. | Title Deeds of Builder for last 13 years. |
Encumbrance Certificate for past 13 years. | Encumbrance Certificate for past 13 years. | Encumbrance Certificate for past 13 years. |
Khata Certificate/ Khata Extract | Khata Certificate/ Khata Extract. | Khata Certificate/ Khata Extract. |
Upto date tax paid receipts of the property. | Upto date tax paid receipts of the property. | Upto date tax paid receipts of the property. |
Copy of the approved plan for the proposed construction / extension / addition. | Copy of the approved plan | Sketch of Flat |
An affidavit-cum-undertaking that applicant shall not violate the sanctioned plan, construction shall be strictly as per the sanctioned plan. | An affidavit-cum-undertaking from the applicant declaring that the built up property has been constructed as per the sanctioned plan and/or building bye-laws | Sanctioned Plan & License from competent authority. |
Completion Certificate (within 3 months of completion of construction). | Completion Certificate. | Copy of Occupancy Certificate by Local Authority. |
Allotment letter of Co-operative Society/Housing Board (wherever applicable) | Agreement of sale of property. | Agreement of Sale with Applicant. |
In case of allotment of a plot by the Society, documents to be submitted are as follows :
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NOC from Society/Association/Builder/Housing Board (Wherever applicable). | NOC from Banker of Builder (wherever Project finance has been availed by the builder) | |
Copy of Lease Deed (wherever applicable) | Copy of Lease Deed (wherever applicable) | Original Sale Deed executed by builder in favour of purchaser. |
KYC documents of seller of property. |
Any other documents as required by Bank.