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:: HOUSING LOAN ::
PURPOSE : Construction of own house / Purchase of ready built house/flat/resale flat / takeover of housing loans from other banks/institutions
ELIGIBILITY : Salaried Employees / Businessmen / Professionals
LOAN LIMIT : Maximum Limit in this type of facility will be as per the guidelines of RBI or by the Board of our Bank
BASIS OF
ADVANCE
: Loan amount to be restricted to 70 % of purchase price ( Including cost of registration and stamp duty applicable for it ) or estimate for repairs and or additional construction.
REPAYMENT PERIOD : Maximum period 15 Years, in const. Moratorium Priod maximum 18 Months
Housing Loan (Upto Rs.5.00 Lakh) : 10.00 %
Housing Loan (Above Rs.5.00 Lakh to 30 lakh) : 10.50 %
Housing Loan (Above 30 lakh) : 11.00 %
PROCESSING FEES : Rs 250 for Loan upto 25000 & Rs. 5.00 per thousand above Rs. 25000
SHAREHOLDING : Share money of 2.50 % of the loan be taken.