Housing Loans
| Maximum Amount | As per RBI Circular |
| Repayment Period | Maximum 120 months |
| Interest Rate | Please refer ‘Interest Rates’ on this site. |
Term Loans under this segment shall be sanctioned, for the following purposes:-
- Purchase of Flats / Houses / dwelling units.
- Construction on plot of ‘Land’ owned / possessed by the applicant.
- Carrying out re-construction/ alterations / renovations in existing property owned / possessed by the applicant
TERMS & CONDITIONS:-
- Loans shall be sanctioned against the ‘Equitable Mortgage’ / Security of property.
- Bank may also accept other securities having adequate value such as LIC Policies, NSCs, or any other security as the Bank may deem fit or find appropriate.
- The Housing Loans shall be sanctioned only to the individuals in whose name the property is registered or shall be registered, in case of purchase.
- The maximum amount of loan will be 80% of the registry amount or 60% of the market value of the property as assessed by the approved valuer or Circle rate whichever is minimum subject to maximum limit of Rs 60 lakh (sixty Lakh) as per RBI Master Circular DOR.CRE.REC.No 49/09.22.010/2022-23 dated 23 June 2022.
