Shriram Urban Co-operative Bank Limited – Housing loan

Purpose – The home loan is offered for the Purchase/Construction of Flat/Independent Bungalow

Quantum of Loan – Maximum Limit will be as per Exposure Norms.

Terms –           Maximum 13 yrs. / Maximum moratorium 18 months or date of possession, which ever is earlier

Margin –           15% for ready possession and 30% for under-construction of Flat/House

Guarantors –           only two guarantors

Other Conditions –

• Valuation to be done by approved Architect of the Bank. Title Verification to be done by                             Bank’s Advocate.
• Advance to be given to the extent of 85% of the value.
• Home / Flat to be insured for full market value with Bank clause.
• Recovery through Post Dated Cheques / Salary deduction or SI on SB A/c.
• Registered mortgage of the property and all original title deed to be deposited with the bank.

Calculation of EMI – Housing Loan