Karnataka Gramin Bank

Home Cash Scheme

  • Purpose
  • Scheme Code
  • Eligibility
  • Loan Amount
  • Repayment
  • Security

Purpose

Purpose

  • 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