Housing Loan Finance

Eligibility of borrower:

  • Having current/saving account holder of the Bank.
  • Borrower must be a member of the Bank.

Purpose of Loan:

  • Purchase/construction of residential property for his own use.

Quantum of Finance:

  • Up to 70 % of cost of construction or purchase value.
  • Maximum finance up to Rs. 25 Lacs.

Share Linkage:

  • Borrower must have Bank's share linkage @ 1% of the loan sanction amount.

Features:

  • Loan tenure up to 120 months.
  • Nominal Processing Charge.
  • No Pre-payment/fore-closure charges.
  • Easy Process
  • Interest is to be charged on reducing balance method.
  • Two Guarantors, out of one must be a non-relative guarantor.

Security:

  • Mortgage of property