Housing Loan

Rules & Regulations (Others)

Maximum Loan Limit  – 75.00 Lakhs
Maximum Loan Period   : 20 years
Age limit     : 60 Years ( for teachers 70 years)
Rate of Interest:  For Salary package employer-8.25%
and for Non drawing Salary & Businessman 10.00%           
Eligible persons   :
Govt. employees. Central Govt. employees, Semi-Govt. employees. Bank Employees, Doctors, Engineers, Business man, Private Company Permanent employees.
Purpose of  Housing Loan :

• Site purchase
• House construction & Purchase
• Take over from other banks.
• Repair & Renovation.
• Additional Loan (This loan is given only to employees are who drawn salary through ourbank).

Eligible Amount :
Salary Employees: Basic + D.A x 80 times or 85% of Estimated value or 75.00Lakhs      
whichever is less.                    
Business man : Gross profit * 8 times or 85% of Estimate Value or 75.00Lakhs
whichever is less.
Other Conditions
Building Insurance from concerned Insurance company for Sanctioned amount for loan period
Clause  : Fire, Damage, Earthquake & other reasons.
Documents Required for House Construction :

• Registered Sale deed / Gift deed Registered / Partition deed.(Non Agri Property)
• Mutation copy
• Tax paid receipt
• Current year Form No.3 /2(Urban areas) and Form No.9 & 11A (Villages)
•  15 years E.C
• Approved Building Blue print
• Approved Building Construction License
• N.A  Order & Layout copy.
•  Estimation Report from Engineer.
•  2yrs Income tax report
• Current Year Business License (Businessman)

                                                                                                (Rules Apply)

Purchase of House / Plot

• Sale agreement original copy.
•  Property Seller All documents 
• Registered Sale deed / Gift deed Registered / Partition deed. (Non Agri Property) (Xerox)
• Tax paid receipt (original)
• Form No.3 (Urban areas) and Form No.9 & 11A (Villages) current year Original (original)
• Mutation copy (Order on change of Khata) (Xerox)
• 18 years E.C (original)
• N.A & Layout copy (Xerox)

 

Takeover of Housing Loan

• No-Objection Certificate and list of Documents from the bank.
• The Loan O/S Particulars form the bank
• Loan Statement

 

                                                                                               (Rules Apply)