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Apply For :
Construction / Purchase / Repairing of Flat / Tenament / Raw House / Bunglows.
Loan Amount :
Max. Rs. 70.00 Lakh or 85 % of Sale Deed whichever is less
Margin :
15 % of Sale Deed
For House / Flat under construction or ready possession 25 % * 15 %
At the time of stage wise disbursement and while making final payment for execution of sale deed overall margin to be maintained @ 15 %.
For the Business person under Turnover Method Margin will be 25 % irrespective of amount.
Tenure : Max. 20 years.
Automated Repayment of EMIs
Share Linking : 1% of the loan amount sanctioned (Max. Rs. 25000)
Guarantee :
CIBIL Score is 700 & Above then ‘No Third Party Guarantor is required’.
CIBIL Score is less than 700 (Existing borrower) and enjoying credit facility for last 12 months then ‘One – Third Party Guarantor is required’.
CIBIL Score is between 625 – 700 then ‘One – Third Party Guarantor is required’.
CIBIL Score is less than 625 (New Customer) then ‘Two- Third Party Guarantors are required’.
Security : Registered Equitable Mortgage of Flat / Tenament / Raw House / Apartment.
The existing repayment obligation/s of the loan/s availed by the borrower will be added to the proposed Home Loan EMI for calculation of EMI / NMI Ratio. The said ratio must remain within the benchmark level as per the Bank’s below mentioned guidelines.
Net Annual Income
EMI / NMI Ratio
Above Rs.1.20 Lacs and upto Rs.2.00 Lacs
40.00%
Above Rs.2.00 and upto Rs.5.00 Lacs
50.00%
Above Rs.5.00 Lacs and upto Rs.10.00 Lacs
55.00%
Above Rs.10.00 Lacs
65.00%
Provision for SUBSIDY under Pradhan Mantri Awas Yojana in eligible cases
Max. Loan Amount Rs. 70.00 Lakh or 85% of Sale Deed whichever is less.
