Any personal purpose such as to meet the expenditure of education, marriage, healthcare, repairs, renovation and furnishing the house etc. other than speculative purposes.
Scheme Code
Scheme Code
GA138
Eligibility
Eligibility
All existing Housing loan borrowers with Satisfactory repayment record and prompt servicing of interest during moratorium period. Repayment of EMIs should have commenced at least 12 months (excluding Moratorium period if any) before the availment of the proposed loan. Loan account of the borrower should be standard asset and the mortgaged property should be located in Metro or Semi Urban or Urban areas.
Loan Amount
Loan Amount
Present market value of house property LESS
Margin of 25% on the present property value
The present outstanding in the Housing loan account
Minimum Loan amount: Rs.1,00,000
Maximum Loan amount: Rs.15,00,000
Repayment
Repayment
120 Months. However, the entire loan shall be repaid before the borrower attains the age of 55 years.
Security
Security
Co-obligation/guarantor
Continuing Collateral security of House already mortgaged