Individuals who are income tax assesses;
Age limit: Minimum 21 years and Maximum 65 years.
|Quantum of Loan||
Minimum Rs.1.00 lac and maximum Rs.500.00 lac.
Maximum outer limit for finance would be subject to:
The income of the spouse / major son may be added if he/she is a co-borrower.
|Margin||Finance up-to 50% of the realizable value of the property, subject to loan amount & outer limit.|
|Rate of Interest||Please click here For rate of interest|
|Repayment of loan||Maximum 12 years based on repaying capacity of the borrower subject to 40% take home salary/income after all deductions. Repayment to be scheduled in a manner so that the loan is adjusted by the age of 70 years of the borrower. In case any younger Co-borrower is proposed having 50% or more contribution towards IIR (Installment to income ratio), the eligibility criterion w.r.t. age of the younger Co-borrower may be considered.|
|Processing Fee||Please click here For Processing fee|
|Documentation charges||Actual expenses with respect to charges for property legal opinion, index, valuation, mortgage fee and stamp papers etc.|
|Security||Mortgage of the Immovable property acceptable to the Bank.|
Spouse/ Major son/ Third party
(In case spouse or major son is co-borrower then guarantee may be waived).
|Prepayment||The borrower may opt to prepay / adjust the loan from his own verifiable legitimate sources or genuine sale without attracting any penalty, except take-over of the loan by other bank/ FI/ NBFC, which would attract prepayment @1% of the balance loan amount|
- Sun, May 20-2018