| Quantum |
Min
: Rs. 25,000/-
Max : Rs. 40,00,000/-
Loan amount will be arrived at after assessing
the applicants repayment capacity |
| Margin |
15%
of project cost
30% if only plot is purchased |
| Eligibility
Criteria |
Adult
Indian citizen employed/self employed for
at least 3 years
Age of applicant
should not exceed 65 years at the time
of last installment
Housing Loans for NRI's on Merit. |
| Security |
Primary
security - equitable mortgage of existing/proposed
property
Collateral security as may be considered necessary
like personal guarantee of spouse /others
or pledge of Term Deposits, LIC policies,
NSC, etc |
| Insurance |
Comprehensive
property insurance policy to be taken out
by the applicant
in the joint names of the applicant
and the Bank. |
| Charges |
0.50%
of loan amount plus mortgage and insurance
charges |
| Repayment |
Through
EMI (Equated Monthly Installments) in a maximum
period of 15 years, Repayment starts one month
after full disbursal.
Till such time pre-EMI interest to be paid
starting from one month after first disbursal. |
| Prepayment |
No
pre-payment penalty |
| Disbursement |
Through
Pay Order favouring the seller/builder after
receipt of margin amount |
| Appraisal
Docs |
| 1.
Attested copy of latest salary slip
& Form 16 for salaried employees |
| 2.
Income tax returns for the last 3 years
for self-employed persons. |
| 3.
Pass book or bank statement for last
six months |
| 4.
Proof of Age and Residence |
| 5.
Copy of sale agreement /share certificate,
NOC from society/builder |
|
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