Any personal purpose such as to meet the expenditure of education, marriage, healthcare, repairs, renovation and furnishing the house etc. other than speculative purposes.
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.
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
120 Months. However, the entire loan shall be repaid before the borrower attains the age of 55 years.
Continuing Collateral security of House already mortgaged