PURPOSE – For Construction or Purchase of Built up, new House or flat; purchase of site for house construction & Construction thereon; for repairs, renovation or modification in existing house and for the takeover of the Housing loans from other finance Institutions;
ELIGIBILITY – All salaried, self employed, business persons, agriculturist or pensioners with regular income
QUANTUM OF LOAN – The quantum of loan is fixed on the basis of total project cost less prescribed margin (20% to 40%) or 72 months gross salary in case of salaried class/pensioners and six times the average income in case of Agriculturists & others whichever is less. Salary of the spouse, father, mother, son, daughter and other direct relatives may also be included for determining the quantum of the loan.
RATE OF INTEREST –
| Priority Sector up to Rs. 20 lakh | Non Priority Sector above Rs. 20 lakh | |
| Up to repayment of 5 years | 8.50% | 9.50% |
| Above 5 to 10 years | 9.00% | 10.00% |
| Above 10 Years | 10.00% | 11.00% |
REPAYMENT – Maximum up to 20 years
SECURITY – Mortgage of the property to be financed.
The bank is also having a Tie-up arrangement with 166 Companies or Corporate providing personal loan, House Building Loans, Vehicle Loans & Educational Loans.