Housing Loans

Our Housing Loans are Designed specifically for you

Individual Housing Loan



Brief Terms & Conditions at a glance

1.

Purpose of Loan

  1. Construction of house.
  2. Purchase of ready built house/flat.
  3. Purchase of flat under construction.
  4. Repairs / Renovation / up-gradation of house.
  5. Extension of house.
  6. Balance transfer / takeover of housing loans.

2

Who is eligible

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

3

Quantum of loan

75% to 85% of the project cost subject to repayment capacity and sufficient net take home income.

4

Repayment period

  1. For salaried individuals - 5 years to 30 years.
  2. For professionals - 5 years to 25 years.
  3. For NRI - 5 years to 15 years.
  4. For business class - 5 years to 20 years.

5

Interest rate applicable

Floating rate of interest applicable as given below:

  1. For loans up to Rs. 30 lakhs - 8.50% to 10.00%.* 
  2. For loans above Rs. 30 lakhs - 8.75% to 10.25%.*
  3. For loans above Rs. 75 lakhs - 9.50% to 10.25%

6

Disbursement

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.

7

Security for the loan

Equitable mortgage of the residential 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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