Non Housing Loans

222-Flexible Loan Againist Property

Flexi Lap

Brief Terms & Conditions at a glance


Purpose of Loan



Who is eligible

All individuals who are salaried/professionals/businessmen/self-employed//NRI/Pensioners who have adequate repayment capacity


Quantum of loan

a.50% to 60% of the value of the security as per the valuation report given by the company's panel valuer.
b.Maximum of Rs. 5 Crore
c.10% additional loan after one year and
d.25% additional loan after two years
(All on the same property& subject to repayment capacity and net take home)


Repayment period

Up to 10 years.  In deserving cases up to 15 years depending upon case to case basis. If disbursed in tranches, full EMI to start from 3rd month.


Interest rate applicable

Floating rate of interest applicable as given below:
13.25% to 14.25%



  1. In one lump sum or in tranches within 6 months.  If not availed/ fully availed within 6 months, unavailed limit will be cancelled.
  2. Further disbursement in the 13th month up to 110% of the loan amount and in the 25th month, 125% of the loan amount.


Property insurance

Property mortgaged to be insured compulsorily.


Security for the loan

  1. Equitable mortgage of the residential/commercial property being financed.
  2. Equitable mortgage of sites allotted by Govt/Govt development authorities where securities are perfect with final sale/conveyance deed.


Collateral security

Depends up on case to case basis.


Stamp duty

As laid down in The State Stamp Act of the respective state government.

Note: For details regarding Processing charges, other charges and other Compliances, please contact your nearest branch.

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