Terms and Conditions
Maximum loan amount
Loan upto Rs. 35 lakhs for locations with population above 10 lakhs and property value upto 45 lakhs. And loan upto Rs. 25 lakhs for locations with population less than or equal to 10 lakhs and property value upto 35 lakhs.
Minimum income norm
Minimum income norm varies from Rs. 8,000 p.m. to Rs. 10,000 p.m. depending on location.
*Repayment period for home loans shall not exceed 30 years.
Equitable mortgage of the property to be financed by way of deposit of title deeds.
The home loan will be disbursed in full or in suitable instalments, taking into account the requirement of funds and progress of construction, as assessed by the bank directly to the seller or builder or local development authority or supplier of materials etc.
Processing charges or admission fee
Processing fee equivalent to 1% or Rs. 10,000/- (whichever is higher) of the loan amount (applied for) will be collected along with the application form. Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
Penalty for early closure
‘Nil’ on floating interest rate home loans