Housing Loan

LOAN TO OWN A HAPPY HOME

Purpose Construction/purchase (direct or in re-sale) of house/flat/ takeover of housing loans from other Banks/ Financial Institutions and/or repairs-renovations/extensions of own residence.
Eligibility Salaried Employees /Businessmen/Professionals
Limit of loan Depending upon repayment capacity and cost of project, Per beneficiary per unit maximum Rs. 70.00 lakh 
Basis of Advance 80% of  Cost  of flat OR Cost of land &  construction thereon subject to repayment capacity based on income.
Repayment Period Maximum 15 years.
Rate of Interest CLICK HERE FOR THE RATES
Processing fees As per policy of the Bank from time to time . At present NIL.
Shareholding/ Membership Contribution 2.50% of loan amount.
Security Equitable/ legal Mortgage of house property to be purchased/repaired.
Guarantors Two guarantors as acceptable to the Bank. ( with good net worth)
Documentation 1. Duly filled prescribed application form
2. Photo Identity & Residence Proof of the Applicant &  Guarantor
3. Allotment Letter /Banakhat/Esimate of Construction-Repairs-Renovation as the case may be.
4. Income proof a) or b) from below as applicable
    a) Salaried person : salary slips for last 6 months, ITR/Form 16 for last 3 years. Bank Statement for last 6 months
    b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for last 6 months.  
5. Legal Documents for creating mortgage as per requirement
Conditions apply