| |
| Purpose |
- For
construction or acquisition of new dwelling units
|
|
|
|
|
| Quantum
of Loan |
- Not
exceeding Rupees 25 lacs.
|
|
|
|
Repayment period |
- Any
period above 5 years and upto 15 years
|
|
|
| Bank
Lending Rate for housing finance |
- Long Term PLR: 11.50% p.a.(on all existing and fresh Housing loans upto Rs.20.00 lacs)
- Long Term PLR: 12.50% p.a.(on all existing and fresh Housing loans exceeding Rs.20.00 lacs & on existing loans for second house sanctioned upto 31.05.2011)
- Long Term PLR: 13.50% p.a.(on existing & fresh loans for second house sanctioned w.e.f 1.06.2011)
- PLR + 2%: 14.50% p.a.(on Housing loans for investment /lease)
|
|
|
| Repayment
instalment |
- For
the sake of convenience repayment will be in equated monthly instalments
to be adjusted for a variance in the interest rate.
|
|
|
| Prepayment |
- No
prepayment penalty applicable for the present
|
|
|
| Margin |
- 25.00%
or as applicable under National Housing Bank Refinance scheme
|
|
|
| Security |
- Mortgage
of the dwelling unit and two guarantors
|
|
|
| Repayment |
- Out
of current income or terminal benefits
|
|
- Installment
not to exceed 50% of current family income
|
|
|
| Scope |
- All
terms and conditions as appearing under the National Housing Bank
Refinance Scheme for such loans are subject to the changes as advised
by the National Housing Bank from time to time.
|
