Own house is a dream of everyone. We convert the dream to reality and make you proud owner of your own house. Drop in at any of our branches and go back with a smiling face.
Apply For :
Construction / Purchase / Repairing of Flat / Tenament / Raw House / Bunglows.
Loan Amount :
Max. Rs. 300.00 lakh or 90% of Sale Deed. In the case of sanctioning a Housing Loan on resale property, Valuation Report to be taken from Panel Valuer. Margin can be considered as NIL subject to maintaining required margin of 30% on Valuation amount.
Margin :
15 % of Sale Deed
For House / Flat under construction or ready possession 25 % * 15 %
At the time of stage wise disbursement and while making final payment for execution of sale deed overall margin to be maintained @ 15 %.
Tenure : Max. 20 years.
Automated Repayment of EMIs
Share Linking : Max. Rs. 250
Guarantee :
CIBIL Score is 700 & Above then ‘No Third Party Guarantor is required’.
CIBIL Score is less than 700 (Existing borrower) and enjoying credit facility for last 12 months then ‘One – Third Party Guarantor is required’.
CIBIL Score is between 625 – 700 then ‘One – Third Party Guarantor is required’.
CIBIL Score is less than 625 (New Customer) then ‘Two- Third Party Guarantors are required’.
Security : Registered Equitable Mortgage of Flat / Tenament / Raw House / Apartment.
The existing repayment obligation/s of the loan/s availed by the borrower will be added to the proposed Home Loan EMI for calculation of EMI / NMI Ratio. The said ratio must remain within the benchmark level as per the Bank’s below mentioned guidelines.
Net Annual Income
Salaried (EMI/NMI Ratio)
Other than Salaried (EMI/NMI Ratio)
Above Rs.1.20 lakhs and up to Rs.2.00 lakhs
45.00%
40.00%
Above Rs.2.0 lakhs And up to Rs.5.00 lakhs
55.00%
50.00%
Above Rs.5.00 lakhs and up to Rs.10.00 lakhs
60.00%
55.00%
Above Rs.10.00 Lakh
65.00%
65.00%
Max. Rs. 300.00 lakh or 90% of Sale Deed. In the case of sanctioning a Housing Loan on resale property, Valuation Report to be taken from Panel Valuer. Margin can be considered as NIL subject to maintaining required margin of 30% on Valuation amount.
