Purpose
To meet any personal, family or business requirements.
In the case of Non-residents, FEMA to be complied with.
Eligibility
Residents & Non-residents who own unencumbered residential land with house or residential flat and having regular income and repayment capacity. Resident borrowers shall come under the tax bracket and should have filed IT returns. For NRIs, IT returns not applicable, but minimum salary/ income shall be Rs 20000/- per month. And in all cases,the borrower's net worth should be double the loan amount or more.
Loan Amount
Maximum Rs 350 Lakhs
Margin
50% of security value
Repayment
Equated Monthly Installment.
Deductions towards loans, including the EMI of the proposed loan, shall not exceed 50% of salary / income. Spouse’s income can be clubbed. Pucca income proof shall be available to assess repaying capacity.
Period
Maximum 84 Months
Rates & Interest
Please refer rates & charges page
Co-obligants
If married - Spouse
If widow / widower / divorcee / bachelor / spinster - Earning parent/s or close relative/s.
Security
Residential land & house or residential flat against which the limit is sanctioned. Only primary residence of the borrower will be taken as security. Value of the house (in the case of land & house) shall be at least 35% of the total value of the property or the value of building shall be at least equal to the loan amount.