DNSB – Swapna Poorti (Housing Loan)

1

Purpose

i) To purchase flat/ Bungalow/ Residential accommodation

ii)  construction of house along with purchase of N.A plot (copy of approved plan from the competent authority to be obtained in this case)

2

Max.  Loan

Maximum upto Rs.140.00 Lakhs

3

Classification of Loan

Priority Sector Housing Loan

*Metropolitan Centers (population of ten lakh and above)

4

Margin

1.       5% for New Flat

2.     15% for Resale Flat

3.     20% for Construction of House/Bungalow

5

Rate of  Interest

ROI for Priority Sector Housing Loan – 9.05% if Both CIBIL score of borrower is 700 & Above. If both CIBIL Score is below 700 then ROI would be 9.85%  

Housing Loans Upto Rs. 70.00 Lakhs sanctioned under Non-Priority Sector

·         For Take Over of Housing Loan above mentioned ROI will be applicable.

Housing Loans Above Rs. 70.00 Lakhs upto Rs. 140.00 Lakhs sanctioned under Non – Priority sector

·         For Take Over of Housing Loan above mentioned ROI will be applicable.

6

Repayment period

For new flat / house, 20 years repayment period

For resale flat / house up to 10 years old, repayment period of 20 years. Valuation Report from our paneled valuer to be obtained for resale flat in the building older than 2 years.

For resale flat/house older than 10 years, repayment tenure of 20 years will be given after taking Structural Stability Report from empaneled Structural Engineer & if estimated future life of the property is more than 25 years,

If estimated future life of the property is less than 25 years, repayment tenure to be stipulated as certified by empaneled Structural Engineer or 15 years whichever is less

7

Moratorium Period

Moratorium period to be given till the completion of construction or maximum upto 18 months from the date of disbursement of first installment of the loan, whichever is earlier be granted.

8

Documents Required of Borrower & Guarantor

1.    KYC Documents (Pan Card & Aadhar Card)

2.    Income papers viz. for business person copy of last 3 years ITRs & for salaried person copies of latest 3 month’s salary slip & Form No. 16/ITRs for last 3 years

3.    Bank Statement for last 6 months

4.    Sanction letter & Statement of all loans availed from the date of  disbursement to till date  

9

Guarantors

·         Residual Income of the applicant should be at least Rs. 15,000/- after considering total deduction including EMI of proposed housing loan

·         Housing Loan may be sanctioned without third party guarantee if the applicant’s residual Income is at least Rs. 20,000/- including EMI of Proposed Housing Loan. Otherwise One guarantor will be taken.

10

Consolidated Charges