Eligibility

• Salaried Persons
• Professionals/Businessmen
• Age:21 years to 55 yrs.
• Farmers.
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Limit & Margin

• Maximum Loan-
• Rs. 20 lakh under priority sector, bank can also consider loan proposals more than this limit on merit of each case.
• Rs. 5.00 lakh for repairs/renovation.
• The cost of plot in the total estimate should not exceed more than 30 %.
• Margin
• 25 % of the total cost
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Quantum

• 75 % of cost or
• For Salaried person: Maximum 40 times of Gross Salary, subject to 60 % deduction including proposed instalment.
• For Businessmen/ Professionals: Maximum 3.33 times of average cash accruals of last 3 years. Maximum Deduction allowed –60% of average cash accruals.
• For Farmers: Maximum 3 times of average net income of last 3 years and having 05 acres of perennial irrigated land.. Maximum Deduction allowed – 60% of average net income.
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Insurance

• For full value with Bank’s clause.
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Processing Fees

• As per given in separate Processing Fee structure booklet.
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Documents

• Application RF-45
• Receipts F-260
• Term loan agreement 245 B
• Guarantee RF-154 A
• Mortgage of plot / House
• *For latest details please contact our nearest branch
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Security

• Simple Registered Mortgage / Equitable Mortgage of property,
• OR Equal amount of paper security (NSCs, FDRs of our Bank etc. excluding shares)
• Two Guarantor( EPF nominee, in case of salaried person should stand as additional guarantor)
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Repayment

• Max. Repayment period is as under -
• For construction of house 20 years.
• For repairs/renovation 5 years.
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Interest Rates

• As per given in separate interest rate structure note.
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