Product Types

Housing / Staff Housing / Vastu Tathastu

Purpose 

• construction of house
• purchase of old flat / house
• extension to Existing flat / house
• For purchase of flat to be constructed by the Society / Builders
• For carrying out repairs/renovations to the existing house / flat
• Takeover of Housing Loans from other Financial institutions

Eligibility

Borrower should be "A" class member below 47 years of age.

Maximum Amount 

• 80% OR 90% of project cost for new constructions / purchase of ready built house / flats.
• 70% of Project Cost for old house aged more than 5 years.
• 72 months Gross Salary in case of Salaried Class
• 6 times of 3 years average income in case of non-salaried class / Total deductions should not exceed 60% of Gross Salary in case of Salaried Class and 50% of Gross Annual Income in case of non-salaried class - whichever is less.
• Clubbing of salary of spouse, father, mother, son, daughter, is permitted for determining the quantum of loan.

Period

• Maximum 180 Months / Date of retirement whichever is less for salaried person & 
• Maximum 120 months or maximum age 75 whichever is less for others.

Repayment

Monthly EMI

Rate of Interest

The rates of interest are as fixed by the Bank from time to time.

Sureties 

Two Guarantor from Banks "A" class member. And Borrowers Net Income / Salary and surety of loans.

Processing Charges

As applicable

Sanctioning Authority

Board Of Directors

Document and Process

• Opening of saving a/c
• Preparation of Loan Application form
• Two Guarantor "A" class member of the bank
• "Satbara" / City survey fresh Statement.
• N.A.(Not Agriculture) order.
• Mortgage of House and Plot.
• No dues of the other banks.

Duration of Sanction

Maximum one Month. (condition apply)