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Products & Services » Advances » Own Your Dream House
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Finance for :
| v | Construction or purchase of House or Flat. | | v | For addition/extensions and renovations of existing House/Flat. |
Eligibility
Quantum of Finance
| v | In Metros/Urban Centres - Upto Rs.50 lakhs | | v | In other centres - Upto Rs.25 lakhs |
Rate of interest
Loan upto Rs.30 Lakhs
Loan above Rs.30 Lakhs <
Margin
| v | For construction,renovation,repair - 25% on the actual cost | | v | For purchase of land - 70% on purchase value as per sale deed |
including registration charges
| v | For purchase of ready built house/flat - 25 % on purcahse value as per sale deed including cost of registration |
Repayment
| v | Maximum period 20Years including repayment holiday. | | v | Initial repayment holiday not to exceed 12months. | | v | In case of employees, repayment should be completed before the date of superannuation. | | v | In other cases, the age limit is 65 years for repayment. |
Basic Requirements
| v | Proof of income such as Salary Certificate/IT Assessment Order. | | v | Copy of approved Plan and Estimate of the buililding/SaleAgreement . | | v | For Salaried persons, irrevocable authorisation for recovery of Instalments must be submitted,duly acknowledged by the Employer. |
Security
| v | Land &Building purchased/constructed |
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