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 Eligibility |
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Existing housing loan borrowers whose past repayment behavior is satisfactory and the account is running regular & whose income level has increased. |
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Age of the applicant should not exceed 57 years. |
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| Purpose |
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For outright purchase of new house. |
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For additions/ construction over the existing house. |
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For purchase of vehicle. |
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For educational purpose. |
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For business Overdraft. |
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For personal OD/TL (for purchases, expenses, etc). |
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| Amount
of Loan |
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Minimum amount of the loan is Rs.2 lacs and maximum amount is Rs.15 lacs. |
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90% of the home equity value or required amount of loan whichever is lower. |
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| Margin |
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10% on the home equity value*. |
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| Rate of Interest |
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As per home loan interest rate (subject to change from time to time). |
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| Security |
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Existing home property to be remortgaged (plus vehicle to be registered in Bank's name in case of vehicle purchase). |
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*(Reassessed value of home property less required margin of 25% less o/s on home loan account). |
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Services
