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A loan advanced to a person to assist in constructing or buying a house or flat.

Tenure is upto 15 years

Tenure for this loan is limited to 15 years

Easy Loan Processing

It has smooth proces to apply and get a loan.

ROI Below 5Lac 15%

It has ROI of 15% for below 5Lac amount.

Aspects

  • Simple and easy loan processing for quick financial assistance.
  • High financing facility available against property valuation.
  • Loan amount available up to 60% to 70% of the property value.
  • Flexible repayment tenure available for up to 15 years.
  • Pre-payment of loan attracts a penalty charge of 2%.
  • No margin amount is required to avail the loan facility.

ROI & Handling Charges

  • Rate of interest is 15% for loan amounts below Rs. 5 Lakhs and 17% for amounts above Rs. 5 Lakhs.
  • Handling charges are applicable on a half-yearly and yearly basis.
  • A processing fee of 1% is charged on the sanctioned loan amount.

Eligibility

  • Salaried individuals with a regular monthly income of Rs. 10,000 or above are eligible to apply.
  • Businessmen can avail the loan facility based on income eligibility.
  • Self-employed individuals with a stable source of income are eligible.
  • Professionals having a regular and verifiable income source can apply for the loan.
  • Applicants between 18 and 55 years of age are eligible for the loan facility.

Documents Required & Shared Holdings

  • New customers and guarantors are required to open a Savings or Current Account with the bank.
  • Duly filled application form along with:
    • Income Proof of Applicant & Guarantors
    • Residential Proof of Applicant & Guarantors
    • PAN Card of Applicant & Guarantors
    • KYC Documents of Applicant & Guarantors
  • Income Tax Returns (ITR) for the last 3 years are mandatory.
  • Property-related documents must be submitted for verification.
  • Employer certificate / Salary slips of last 3 months with income verification are required.
  • Two acceptable guarantors are mandatory for loan approval.
  • Regular Membership fees is Rs. 10 & Share amount @ 5% of loan amount.
  • Guarantors : as per loan amount..