Housing loan
| For Salaried employees, Businessman, Self Employed | |
|---|---|
| Type of loan | Housing loan |
| Purpose | For purchase of ready built flat, Flat on resale basis & takeover of Existing housing loan from other bank,Construction of House/Bunglow independently |
| Repayment |
For salary earner 240 months For businessman 180 months |
| Mode of Repayment | Standing instruction from our Bank Account,Debit ECS |
| Margin | 20 % in favour of Bank |
| Rate of interest | 8.50% p.a. |
| Who can borrow | Salaried employees, Businessman, Self Employed |
| Loan amount | Maximum Rs 70.00 lakhs |
| Security | Property to be Purchaserd / constructed with bank finance |
| Collateral | Not required |
| Guarantors | One guarantor acceptable to bank ( additional guarantor to be provided if required) |
| Subscription of bank's shares | 2.5 % of the loan amount |
| Processing charges | 0.50% of sanctioned loan amount |
| Other charges | As per Bank's policy |
| Pre-payment charges | No pre closure charges |
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