Who is eligible

• Salaried person 
  ( Should  have permanent employment for last 3 years and at least 1 year in present employment )

• Professional 
  ( Should have been in the profession for the last 3 years ) 
  
  
• Businessman  ( Should be in business for the last 3 years
  and generate adequate and consistent income and good net worth )

Purpose

• For Constructing / purchasing a new house /flat
  
  
• Purchasing an existing house/ flat which is not more than 15 yrs old
  
  
• Repair & Renovation of an existing house/ Flat

Loan amount eligible
 
 For purchase/construction of new/old house/flat    

• Salaried person
  (60 times net monthly salary )
  
  
• Others
    ( 4 times gross taxable income )

Subject to maximum of Rs 25,00,000.00

For repairs & renovation of home /flat

• Salaried person
  (35 times of net salary)
  
  
• Others
  (twice the gross taxable income)

Subject to maximum of Rs 500,000.00

Guarantors

• Minimum 2 persons acceptable to the Bank.

Repayment Period 

• 180  EMI’s for purchase/construction of old/new/house/flat
  
  
• 60 EMI’s for repairs/renovation

Rate of Interest 

• Upto Rs.10.00 lakh – 11.50%

• Above Rs.10.00 lakh to Rs.20.00 lakh – 12.50%

• Above Rs.20.00 lakh – 13.00%

Special Features 

• Wife /husband/parents/Brother/ sister can be co applicants income of the co applicant will be considered for assessing repayment capacity
  
  
• No processing fees
  
  
• Interest calculated on daily reducing balance
  
• No prepayment/commitment  charge levied unless the Liability is taken over by another financial institution 

Repayment  Charges

• In case the loan is taken over by another bank/financial institution a commitment charges of 2% of the outstanding balance will be levied.
  

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