Non Housing Loans

203/204-Site Loan

Site Loan



Brief Terms & Conditions at a glance

1.

Purpose of Loan

  1.For purchase of site from development authorities
2. For purchase of site from private developers/parties.

2

Who is eligible

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

3

Quantum of loan

75% to 80% of the project cost subject to repayment capacity and sufficient net take home.

4

Repayment period

Minimum 5 years and Up to a maximum of 10 years. 

5

Interest rate applicable

Floating rate of interest applicable as given below:

For Site allotted by Govt. Devp. Agencies:11.25% to 12.25%

For sites purchased from private parties/builders/promoters :   12.50% to 13.25%

6

Disbursement

In one lump sum on the date of registration.

7

Security for the loan

Equitable mortgage of thesite property being financed.

8

Collateral security

Depends up on case to case basis.

9

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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