Gruhalakshmi Rural housing Loan(GRHS)
Brief Terms & Conditions at a glance
Purpose of Loan
Who is eligible
Property to be financed should be located in rural area with population < 50,000/- as per 1991 census.
Quantum of loan
Interest rate applicable
Rate of interest applicable as given below:
8.85% fixed for first three years and thereafter the prevailing roi, then.
In the case of purchase of house/flat, on the date of registration, and in the case of construction/repairs/renovation/up-gradation/extension, as per the progress of work.
Security for the loan
Equitable mortgage of the residential property being financed.
Depends up on case to case basis.
As laid down in The State Stamp Act of the respective state government.
Note:Â For details regarding Processing charges, other charges and other Compliances, please contact your nearest branch.