|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, 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.|
|Share Linkage||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 means)|
|Documentation||1. Prescribed application form / duly filled in.
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