| |
 |
| Housing Loan Scheme |
 |
| |
| Eligibility |
| This Scheme is available for Salaried Employees, Doctors, Chartered Accounts, and Traders etc. to purchase new plot, flat or for construction of house etc. |
| |
| Margin |
| Minimum 25% margin required. |
| |
| Repayment |
| The repayment period will be maximum 240 months. |
| |
| Security |
| The Purchased plot, flat or constructed house will be treated as prime security and if borrower had LIC Policies, assigned policies will be treated as collateral security. |
| |
| Interest Rate |
| Interest Rate will be @11.75% for first 3 Years if borrower is having I.T.Returns filled as per books of accounts, other borrowers will be charged the interest @13.75% p.a. The Interest rate after completion of 3 Years will be linked with PLR. The PLR will be declared at Annual rest. |
| |
| Tentative Required Documents |
1. Estimate of Construction or Copy of Agreement to Sale.
2. Deposit Margin in saving accounts
3. Last 3 Years Financial statements with I.T.Returns.
4. Two Guarantors & their Income related documents& property related documents.
5. LIC policy & Borrower business related documents.
6. KYC documents of Borrower & Guarantors. |
| |
| Loan Handling Charges |
1. Loanup to Rs50,000/- Rs.150/-
2. Loanabove Rs50,001/- to 1 lakh Rs.200/-
3. Loan above Rs.1 lakh Rs.200/- per lakh. |
| |
