- Sailent Features
- Loan Amount
- Age of the borrower should not be more than 55 years.
- Up to Rs.25.00 lakhs Priority Sector. NTH 40%
- 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
- 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
- Age of the building less than 10 years- 15%
- Age of the building above 10 years 7 upto less than 25 years- 25%
- 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.
- Collateral security of mortgage of House to be constructed/ purchased.