|
|
Housing Loan |
|
|
|
|
Quantum of loan |
|
- For Construction /Purchase 60 months net
salary or 75.00 Lacs whichever is lower.
- For repairs/renovation 20 months net salary,
subject to a maximum of 10.00 Lacs.
- For purchase of land: 20 months net salary/income
subject to maximum of 5 Lacs within J&K and 10.00 Lacs outside
J&K.
- Also as an incentive for small borrowers,
the loans upto 1.5 Lacs granted for repairs/renovations of
existing houses would now be secured by third party guarantee
of two persons or such other security as is deemed appropriate
by the Bank.
|
|
|
Eligibility |
|
- Employees of Govt. , Semi-Govt. Dept., Civic
Bodies, PSU's with minimum 5 years service.
- Reputed Businessmen with minimum 5 years
standing.
- Professionals & Self employed like Doctors
,Engineers , CA's , Advocates with minimum 5 years standing
|
|
|
Rate of Interest (Subject to Change) |
|
|
|
|
Security |
|
- Mortgage of the house/property to be purchased/ constructed.
- Third party guarantee of one person or Assignment of LIC policies, pledge of govt. securities etc.
- Negative lien on the property to be repaired/renovated without mortgaging the same to the Bank.
|
|
|
Repayment |
|
- For construction of new house 20 years including
9 months moratorium in equal monthly installments.(Applicable
to new loans and disbursements only)
- For addition / Renovation 10 years Including
2 months moratorium in equal monthly Installments.
|
|
|
Margin |
|
- 15% for construction/purchase of built house
flat.
- 20% for renovation/purchase of land.
|
|
|
Processing charges |
|
|
|
|
Top |
|
(Conditions Apply) |