Purpose
Housing Loan :
Housing Loan Loan will be sanctioned for:
A) New House / Resale
B) Construction of House
C) Loan Balance Transfer
D) Home Improvement
Loan Amount:
A. Maximum Loan Limit ₹60 Lakh for purchase of flat, construction, etc.
B. Maximum ₹6 Lakh for house repairing/renovation.
Rate of Interest / EMI:
Lowest Rate of Interest & EMI.
Loan Period:
Maximum period for repayment is 240 months (20 years), inclusive of Moratorium Period.
Security:
Mortgage of residential premises to be purchased or constructed.
Bank may accept Insurance Policies or other securities at its discretion.
Property age must not exceed 30 years.
Residual/balance life of the building should cover the loan tenure.
A. Maximum Loan Limit ₹60 Lakh for purchase of flat, construction, etc.
B. Maximum ₹6 Lakh for house repairing/renovation.
Rate of Interest / EMI:
Lowest Rate of Interest & EMI.
Loan Period:
Maximum period for repayment is 240 months (20 years), inclusive of Moratorium Period.
Security:
Mortgage of residential premises to be purchased or constructed.
Bank may accept Insurance Policies or other securities at its discretion.
Property age must not exceed 30 years.
Residual/balance life of the building should cover the loan tenure.
Guarantor:
Two guarantors with regular income including family members (subject to case evaluation).
CIBIL report of all guarantors required.
Spouse/legal heir to be considered if properties are in single name; CIBIL report of spouse/legal heir required.
Applicant(s) should become members of the Bank, hold requisite shares, guarantee the advance, and comply with KYC norms.
Required Documents:
Two guarantors with regular income including family members (subject to case evaluation).
CIBIL report of all guarantors required.
Spouse/legal heir to be considered if properties are in single name; CIBIL report of spouse/legal heir required.
Applicant(s) should become members of the Bank, hold requisite shares, guarantee the advance, and comply with KYC norms.
Required Documents:
- Business Address Proof / License details / Establishment year & License Agreement (if currently staying on rent)
- Proof of Business / Profession: Copy of Shop and Establishment Act Licenses, VAT/TIN/TAN/MST/CST No., Goods and Services Tax Registration
- Signature Proof
- Age Proof
- Biodata for professionals
- Tax Returns – Minimum 2 to 3 Years
- Audited / C.A. Certified Balance Sheet and Profit & Loss Accounts (Minimum 2 to 3 Years)
- Business Profile
- Education Qualification Certificate for professionals
- Bank Statements – 6 Months to 1 Year
- For businesses, proof of payment of statutory liabilities should be submitted; latest statutory payment must be compliant.
- Assessed liability should not be higher than declared liabilities as per last Income Tax assessment.