Finance for :
| v |
Construction or purchase of House or Flat. |
| v |
For addition/extensions and renovations of existing House/Flat. |
Eligibility
Quantum of Finance
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In Metros/Urban Centres – Upto Rs.50 lakhs |
| v |
In other centres – Upto Rs.25 lakhs |
Rate of interest
Loan upto Rs.20 Lakhs
| v |
Upto and includsive of 5 Years -11.25% |
| v |
Above 5 years and up to and inclusive of 15 Years – 11.75% |
| v |
Above 15 years and up to and inclusive of 20 years – 12.25% |
Loan above Rs.20 Lakhs
| v |
Upto and includsive of 5 Years -13.25% |
| v |
Above 5 years and up to and inclusive of 15 Years – 13.75% |
| v |
Above 15 years and up to and inclusive of 20 years – 14.25% |
Margin
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For construction,renovation,repair – 25% on the actual cost |
| v |
For purchase of land – 70% on purchase value as per sale deed |
including registration charges
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For purchase of ready built house/flat – 25 % on purcahse value as per sale deed including cost of registration |
Repayment
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Maximum period 20Years including repayment holiday. |
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Initial repayment holiday not to exceed 12months. |
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In case of employees, repayment should be completed before the date of superannuation. |
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In other cases, the age limit is 65 years for repayment. |
Basic Requirements
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Proof of income such as Salary Certificate/IT Assessment Order. |
| v |
Copy of approved Plan and Estimate of the buililding/SaleAgreement . |
| v |
For Salaried persons, irrevocable authorisation for recovery of Instalments must be submitted,duly acknowledged by the Employer. |
Security
| v |
Land &Building purchased/constructed |
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(2 votes, average: 4.50 out of 5)
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