Housing Loan

  • Sailent Features
  • Purpose
  • Loan Amount
  • Margin
  • Repayment
  • Security

Sailent Features

Sailent Features

  • Age of the borrower should not be more than 55 years.
  • Up to Rs.25.00 lakhs Priority Sector. NTH 40%

Purpose

Purpose

  • Purchase of ready built House : Not more than 25 years old
  • Construction of House and purchase of flat
  • Purchase of Site & construction of House (Ratio-30:70)
  • Expansion/Renovation/Up gradation/Additional amenity for own house upto Rs.15.00 lakh
  • Take over liability permitted:
    • Up to Rs.10.00 lakhs – Regional Office
    • Above Rs.10.00 lakhs – Head Office

Loan Amount

Loan Amount

  • Salaried class- 60 times of last drawn Gross salary-25%NTH
  • Non salaried class- 4 years Gross annual income- 40% NTH
  • 75% of the estimation/value of the building with a maximum of 4 Years Gross Annual Income

Margin

Margin

  • Age of the building less than 10 years- 15%
  • Age of the building above 10 years 7 upto less than 25 years- 25%

Repayment

Repayment

  • Maximum 30 years (Including moratorium period)
  • However, repayment should be fixed in such a way that the entire loan should be recovered before the main borrower (Income earning) attains the age of 70 years.

Security

Security

  • Co-obligation/guarantor
  • Collateral security of mortgage of House to be constructed/ purchased.