Housing loans for purchasing new premises and existing old Premises can be applied. The housing loan is available for premises not older than 20 years. While sanctioned the loan age of the applicant his remaining services will be considered. The maximum period of loan will be 15 years. The disbursement will be stage-wise depending upon stage of construction. The owner’s contribution has to be paid initially.
The rate of interest for loans up to Rs.25 lac is 14 % and 15 % above Rs.25 lac.

Eligibility

Salaried individuals, Businessmen, Self-employed professionals like Doctors, Engineers, Lawyers, Chartered Accountants, etc., Entrepreneurs.

Document Required

Loan Application Form.
Income Proof ( 3 yrs Balance Sheet , Profit & Loss Account. )
City Survey Property Card and Inquiry Report.
City Survey Map.
Grampanchayat.
Gharfala Receipt.
Grampanchayat boundaries specification document.
Document of Business (Registration etc.)
Legal Opinion and Valuation.
Matured property holders promising letter / Note.
Income Tax Return.
Stock statement ( Verified by branch manager. )
Proprietor Declaration Form .
In case of partnership firm .
Partnership deed.
Registration documents.
In case of company.
Memorandum documents.
Agreement to take the loan.
Agreement to do signature on loan documents.
Agreement of accepting terms & condition after sanction of loan amount.
In case of Development of plot Agreement between plot owner & builder.

Features

Interesting Interest Rate.

Tenure Flexibility.

Housing Loan Facility in Rural Area.

Terms & Condition

Housing Loan for purchase of NEW Housing Property/ Housing construction.

Employment: Minimum 2 yrs of continuous employment.

Two Guarantors are mandatory.

Rate of Interest

14% [up to Rs.10Lakh]

15% [ above Rs.10Lakh]

Loan Limit

Maximum Loan Limit Rs. 50Lakh.

Rural Housing Loan Maximum Limit Rs. 25Lakh.