Purpose

• Construction of own house
• Purchase of ready built house
• Purchase a new flat
• Takeover of housing loans from other Banks/Institutions

Eligibility

• Salaried Employees confirmed in service /Businessmen/Professionals/ Agriculturist
• Age of the person should not be more than 55 years.

Repayment Period

• Maximum 20 years
• Moratorium period available

Processing fees

• 1% service charges on Loan A/c +18% GST

Share holding

• 2.5% of loan amount 

Quantum of Finance (in housing loan)

• Minimum of land for house construction 3cents
• 75% of registered value of the property constructed house /Flat (stamp paper charges)
• Incase of new house construction as per plan loan amount is calculated
• 75% of estimated value of construction approved by the TMC/Panchayath

Interest Calcualtion Method

• Reduced Balance method
• Fixed rate of Interest

Documentation

• All Assigned documents related to property (E.khatha  / 9& 11 of the property )
• Plan & estimation  Valuation of property .
• Duly filled prescribed application form
• Photo Identity & Residence proof of the Applicant & Guarantor
• Income proof a)Salaried person : salary slips for last 3 months, ITR/Form 16 for last 3 years or b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
• Legal Documents for creating mortgage as per requirement
• *Cibil report above 700 points