Purpose – To provide housing loans to individuals at competitive interest rate considering the needs; the bank offers financial assistance to construct your own bungalow, buy flat/Row House, buy resale flat, takeover of existing home loan with other banks & financial institutions.
Eligibility – Salaried individuals, Businessmen, Self-employed professionals like Doctors, Engineers, Lawyers, Chartered Accountants, etc., Entrepreneurs
Rate Of Interest – The rate of interest depends on the loan amount and the tenure
| S.no | Tenure (in years) | EMI per lakh | |||
| Upto 5 Lakh @10.50% | 5-10 Lakh @10.75% | 10-30 Lakh @11% | 30-50 Lakh @11.50% | ||
| 1 | 5 | 2,149 | 2,162 | 2,174 | 2,199 |
| 2 | 10 | 1,349 | 1,363 | 1,378 | 1,406 |
| 3 | 15 | 1,105 | 1,121 | 1,137 | 1,168 |
Others – The bank offers express loan processing, Simple loan documentation, Low EMI, interest on daily reducing balance, Low processing charges (1.00%), Maximum Loan Amount of Rs.50 lakhs, life insurance for the principal borrower at nominal cost, added benefits of bank’s membership
Shareholding – 2.5% of loan amount
Documents – For New Property: 75% of Agreement Amount of the Residential property subject to his income eligibility whichever is lower.
For Resale Property: 75% of Agreement Amount of the Residential property OR 75% of the Valuation Amount whichever is lower, subject to his income eligibility whichever is lower.