| |
| Eligibility |
- Salaried
individuals below the age of 50
|
|
- Professionals
& self employed persons in business for at least 3 years
|
|
|
| Sanction
Limit |
- Maximum
of 75% of the agreement value OR
|
|
- 75%
of estimated cost of construction OR
|
|
|
|
The
loan amount depends on the repaying capacity
|
|
Repayment period |
-
Maximum
5 years or upto the age of retirement whichever is earlier.
|
| Rate
of interest |
|
|
- Calculated
on the daily reducing balance of the loan in the case of normal home
loans.
|
|
|
| Security |
-
Mortgage of the property to be financed by way of deposit of title
deeds
|
|
|
|
- Collateral
security determined on a case-to-case basis
|
|
|
| Documents
Required |
- Proof
of Residence - Xerox copy of Ration Card/Electricity Bill/Telephone
Bill/Passport
|
|
- Proof
of Income -
Salary Slip or Last 3 years Balance Sheets/Tax Returns
|
|
- Title
and Valuation Report of Property to be purchased
|
|
|
