housing loan

  • Eligibility
    • Purchase of land and construction of a house thereon.
    • Construction of house, where in the plot/land already owned by the applicant.
    • To buy built up / semi built up house or flat.
    • To Extend/improve/repair, the existing house or flat.
    • For Home furnishing, furniture / fixtures embedded to structure or otherwise.
    • To buy a flat under construction or proposed to be constructed
    • Takeover of housing loan from other banks/ financial institutions.
    Eligibility Criteria Individuals or group of specified individuals (co-borrowers) having an assured source of regular income viz. salaried / self-employed persons, professionals, businessmen, farmers etc.(including Staff & NRIs )
    Minimum age Maximum age 18 years as on date of application
    For salaried(with pension) & other Individuals upto 70 years
    For Salaried ( Non Pensionable) upto 60 years or
    superannuation, which is earlier
  • Finance
    Maximum Loan limit Housing Loan ---No upper ceiling (*conditions apply). The maximum permissible Bank finance can be calculated on the basis of income of individual as well as joint borrower, as the case may be.
    Home furnishing Loan --Maximum ₹ 25.00 Lacs (restricted to 30% value of existing house),
    Net Take Home Income Fross Annual income minus all existing deductions including IT deduction & Proposed loan installment) with details as under:
    Gross Annual Income Net Take Home
    Upto ₹ 5 lacs 50%
    Above ₹ 5 Lacs to ₹ 10 Lacs 40%
    Above ₹ 10 Lacs 30%
    Housing loan
    Documents check List

    Loan application Form
    Passport size photograph of applicant, co-applicant & guarantor
    Identity proof
    Residence Proof
    Age proof
    Income Proof
    For Salaried : Salary certificate issued by the employer / Income Tax return
    For Agriculturist : Record of land holding & cropping pattern or any other proof of income.
    For all other individuals : Last 2 yrs. Income Tax Return & computation sheet / Bank A/C statement.
    Property documents : Title clearance report from advocate and valuation report from architect on Bank's panel
    In case of takeover : Copy of home loan account statement for the entire period / Certificate from the lending institution giving pre-closure amount
    Any other document/paper which may be necessary as per requirement of the case.

  • Security and Margin
    Primary/Collateral Security Primary--Equitable/ Registered Mortgage of financed property/property proposed to be furnished
    Upto ₹ 30.00 Lacs 10%
    Above ₹ 30.00 Lacs & Upto ₹ 75.00 Lacs 20%
    Above ₹ 75.00 Lacs 25%
    For Home furnishing 25% of total cost of renovation/furnishing
  • Rate of Interest and Repayment
    Category of Loan Margin Rate of interest
    Upto 30.00 Lac =>20% MCLR=9.40%
      =>10% and < 20% MCLR+.10 %=9.50%
    Above 30.00 lac and 75.00 lac =>25 % MCLR=9.40 %
      =>20 % and < 25 % MCLR
    Above 75.00 Lac =>25 % MCLR=9.40%
    Repayment Period For Home Loan - Upto 360 months, including the moratorium period of 18 months subject to age of dwelling unit
     Upto 480 months, including the moratorium period of 18 months 
    For Home Furnishing Loan-Maximum 120 months
  • Loan Status

    Loan Status


    Captcha Code


    Please enter your Loan reference nOAN/2o. as . eg. VEHICLELOAN/31082017/5

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