| Housing
Loan Amount |
:
Maximum 85% of the value of House
upto Rs. 50Lacs |
| Period
of Loan |
: Maximum 15 years |
|
| |
| Criteria
for Loan Amount |
| |
- For
Self Employed/Businessman
- Average
Monthly Income as per Income Tax
return of last 2 years
|
| Purpose |
To
purchase old residential house property
and extending/improving existing house
property for buying or constructing new
house property. |
| |
| Security
|
The
loan would be secured by equitable mortgage
of the property financed by way of deposit
of title deeds. Two personal guarantors
are also required. Mortgage procedure
shall be with the bank's approved advocate.
|
| |
| Other
Charges |
The
Borrower has to pay Registration fee of
Equitable mortgage in case of loan amount
more than Rs. 3 Lacs, Legal charges and
for stamped papers. |
| |
| Penal
Charges |
| If
the loan installment is not paid as stipulated,
a 3% penal interest will be charged. |
| |
| |
