Housing Loan Plus (HL +)

Purpose

• Meet domestic needs, medical/educational expenses to those who had availed Housing loan with the Bank.

Eligibility

• Age between 18 Years to 65 Years
• Borrower already having Housing Loan with our Bank with a/c run atleast for 1 year with satisfactory repayment.
• –Nil- overdues in the existing Housing Loan.
• Net take home salary shall not be less than 40% of Gross Salary.

Loan Amount

For Salaried class

• 10 Months Gross Salary subject to maximum limit of Rs.10.00 lakhs
• Does not exceed 75% of the value of the property

For others

• 50% of 3 years Gross Income OR Rs.10.00 lakhs OR 75% of value of the property, whichever is less.

Margin

• Nil

Repayment

• 120 Months. However, the entire loan shall be repaid before the borrower attains the age of 70 years.

Security

• Co-obligation/guarantor
• Continuing Collateral security of House already mortgaged