| Who can apply? |
| Any individual. |
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| What should be the purpose? |
| For purchasing a dwelling house/flat for self occupation |
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| What is income criteria? |
- salaried person:
- Prof & self-employed :.
- Businessman (proprietor) :Net profit
- Businessman ( partner) :
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| Age criteria |
| Min age : 18 |
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| How much loan can be granted ? |
| Maximum upto Rs.70.00 lakhs |
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| What is rate of interest? |
| 9.50% p.a. upto 25.00 lakhs & |
| 11.00% p.a. above 25.00 lakhs |
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| What will be the share linkage |
| 1% of loan sanctioned |
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| What will be the repayment period? |
Max upto 240 months
|
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| What will be the securities? |
| Prime: Equitable mortgage of the property financed |
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| What about guarantors? |
| Two guarantors acceptable to Bank |
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| How to apply? |
- Application in prescribed format
- Address proof : Passport / telephone / electricity bill, Ration card / Voter identity card etc
- Identity proof : Passport / voter identity card / PAN card telephone/electricity bill etc.
- Income proof : Last 3 months` Salary certificates, Form-16, IT Return copies for salaried person), Copies of audited Profit & Loss account and Balance sheet of last 3 years, IT Return copies for last 3 years, Audited income / exp statement & Balance sheet, IT Return of last 3 years for professional & self-employed ,
- Copy of registered sale agreement
- Search report/ valuation report
- NOC from builder / Society, NOC from CIDCO
- share certificate
- Consent letter & financial papers of guarantors
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| What about insurance? |
| Property shall be fully insured with Bank clause |
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| How disbursement will be made? |
| By way of direct disbursement to seller/builder by Bank` Account Payee Pay Order . |
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| Additional Loan (to Housing / mortgage loan borrowers) |
- Loan Limit : Up to Rs. 25 Lakhs
- Repayment Period : Up to 7 years
- Rate of Interest : 8.50% (First year fixed rate of interest and Floating thereafter
- Processing Fees : 0.5%
- Margin : No Addl margin, if adequately secured by the existing security. Otherwise 25%
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