| HOUSING LOAN | ||||||||||||||||||
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| TITLE | NORMS | |||||||||||||||||
| Purpose | Housing Construction/Extension/Repair, Renovation and Purchase of House & Commercial Property | |||||||||||||||||
| Eligibility | Salaried Employees / Businessmen/Professionals and Individuals with proven source of Income | |||||||||||||||||
| Loan Limit | Rs.7000000/-(seventy lakhs) Maximum for Housing | |||||||||||||||||
| Repayment Period | Repayable in 180/240 EMI for Housing | |||||||||||||||||
| Rate of Interest |
HOUSING
COMMERCIAL HOUSING
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| Share Holding | 2.5% of the Loan amount as per RBI notification | |||||||||||||||||
| Security | Mortgage of the Property by way of Registered Memorandum of Deposit of Title deeds | |||||||||||||||||
| Purpose Proof | Construction/Approved plan | |||||||||||||||||
| Documentation | Prescribed Application Form with Attested Copies of Photo ID – Voter ID/DrivLicense/Passport/Aadhar PAN Card | |||||||||||||||||
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Income Proof - Salaried Certified Salary Certificate/Payslips- 3 months Form 16A issued by employer, Copy of Passbook 3 years IT Returns |
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Business/Professionals 3 years IT Returns, with Tax paid challan Professionals/ Bank pass book/statement |
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Self employed 1. Consent declaration from family members wherever applicable. 2. Income proof as above of family members wherever applicable. |
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| Purpose Proof |
Construction Extension Approved plan, Estimation for construction by Registered civil engineers.Property photo ( 2 views) – property and road. |
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| Purchase of House Agreement of Sale executed on stamp paper Xerox copies of property documents. | ||||||||||||||||||
