Housing Loan

A Loan provided to individuals for purchase/construction of house with attractive Rate of Interest with maximum repayment period.

Schemes

Sukh Vastu

Swapna Vastu

Swapna Poorti

Purpose

For purchase of new Flat / Bungalow.
Construction of own house.

For purchase of new Flat / Bungalow.
Construction of own house.

For purchase of new Flat / Bungalow.
Construction of own house.

Eligibility

Any individual, Businessman, professional, self employed or Salaried person.

Any individual, Businessman, professional, self employed or Salaried person.

Any individual, Businessman, professional, self employer or Salaried person.

Margin

20% for first purchase of a Flat / House in new building.

20% for first purchase of a Flat / House in new building.

20% for new dwelling.

25% for purchase of a Flat / House under resale, in a building not older than 10 years.

25% for purchase of a Flat / House under resale, in a building not older than 10 years.

25% for resale dwelling.

25% for purchase of Flat / House, under resale in a building older than 10 years, but not older than 30 years.

25% for purchase of Flat / House, under resale in a building older than 10 years.

No advance to be sanctioned for purchase of Flat / House in a building older than 30 years.

No advance to be sanctioned for purchase of Flat / House in a building older than 30 years.

No advance to be sanctioned for purchase of flat in a building older than 30 years.

Loan Limit

Up to Rs. 25.00 Lacs per beneficiery of a dwelling unit.

Eligible loan amount will be calculated based on Agreement Cost plus insurance premium by maintaining stipulated margin.

Above Rs. 25.00 to Rs. 50.00 Lacs per beneficiary of a dwelling unit.

Eligible loan amount will be calculated based on Agreement Cost plus insurance premium by maintaining stipulated margin.

Above Rs.50.00 Lacs to 70 Lacs

Eligible loan amount will be calculated based on Agreement Cost plus insurance premium by maintaining stipulated margin.

Prime:
Dwelling unit to be purchased / constructed out of bank finance.

Prime:
Dwelling unit to be purchased / constructed out of bank finance.

Prime:
Dwelling unit to be purchased / constructed out of bank finance.

Collateral:
Assignment of Single Premium Term Insurance Policy on the life of the proponent/s - sum assured should be equivalent to the loan amount sanctioned with term of policy should at least the minimum up to the repayment period.

Collateral:
Assignment of Single Premium Term Insurance Policy on the life of the proponent/s - sum assured should be equivalent to the loan amount sanctioned with term should a least minimum up to the repayment period. If the loan amount is more than Rs. 25.00 Lacs then Liquid Security in the form of Term Deposit of our Bank equivalent to 10% of the loan amount sanctioned.

Collateral:
Liquid Security in the form of Term Deposit of our Bank equivalent to 10% of the loan amount sanctioned. Assignment of Single Premium Term Insurance Policy on the life of the proponent/s - sum assured should be equivalent to the loan amount sanctioned with term should a least minimum up to the repayment period.

Guarantors

Minimum one acceptable to Bank.

Minimum one acceptable to Bank.

Minimum one acceptable to Bank.

Interest Rates

8.60% p.a.

8.75% p.a.

8.95% p.a.

Repayment Period

20 Years maximum.*

20 Years maximum.*

20 Years maximum.*

* In case of Resale flat in the building older than 10 years, repayment tenure to be stipulated maximum 50% of the estimated future life of building certified by empanelled structural engineer or 15 years whichever is less.

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