HOUSING LOAN FINANCE

 

 

Eligibility of borrower:

  • Having Current account holder of the Bank.
  • Borrower must be a member of the Bank.

Purpose of Loan:

  • Purchase/construction of residential property for his own use.


Quantum of Finance:

  • Up to 70 % of cost of construction or purchase value.
  • Maximum finance up to Rs. 30 Lacs.


Features:

  • 20% of annual turnover/sales.
  • Up to 65% of the value of the stock.
  • Loan tenure up to 120 months.
  • Nominal Processing Charge.
  • No Pre-payment/fore-closure charges.
  • Easy Process.
  • Interest is to be charged on reducing balance method.
  • Two Guarantors, out of one must be a non-relative guarantor.


Security:

  • 20% of annual turnover/sales.
  • Up to 65% of the value of the stock.