Adarsh bank – Housing Loan

Purpose                      – The loan is offered Purchase of New/Existing House; Repair of House; Construction of House; Extension of House; Purchase a Plot of Land Meant for Construction of a Dwelling Unit.

Eligibility                     – The home loan can be availed by any individual singly or jointly, who is residing or gainfully engaged in area of operation of the bank

Quantum of Loan       –

For Personal House:      Project’s 50%-75% according to borrowers repaying capacity with maximum limit of 5 lakh

For Commercial Building:           Finance up to the exposure limit of the bank. At present, it is 90 lakh

For House Repair:         Finance up to 1 lakh as per applicant’s project report & on repaying capacity at the satisfaction of the branch manager.

Rate of Interest                     – As per the terms and conditions of the bank during the loan approval

Repayment                 – The repaying period depends upon borrower’s repaying capacity, deposit resources and as per the type of project; the maximum period is up to 15 years

Documents Required – Proof of address, identity, Bank account statement etc

Security                      – Land/building under construction shall be mortgaged with the bank (registered mortgage or equitable mortgage).Title deeds of property shall be mortgaged with     the bank (all relevant original documents of land / building with non-encumbrance legal report) etc.