US DOLLAR 1 Buying 104.35 Selling 104.95

GB POUND 1 Buying 129.21 Selling 130.84

SWISS FRANC 1 Buying 104.82 Selling 105.88

AUSTRALIAN DOLLAR 1 Buying 79.30 Selling 80.10

CANADIAN DOLLAR 1 Buying 77.66 Selling 78.44

SINGAPORE DOLLAR 1 Buying 74.28 Selling 75.03

HONGKONG DOLLAR 1 Buying 13.38 Selling 13.51

JAPANESE YEN 10 Buying 9.35 Selling 9.51

EURO 1 Buying 112.18 Selling 113.32

CHINESE RENMINBI 1 Buying 15.10 Selling 15.25

THAI BHAT 1 Buying 3.01 Selling 3.04

KOREAN WON 10 Buying 0.92 Selling 0.94

SAUDI RIYAL 1 Buying 27.71 Selling 27.99

QATARI RIYAL 1 Buying 28.54 Selling 28.82

As per 2017-03-26 | View All

Home Equity Loan

Eligibility Existing housing loan borrowers having satisfactory repayment.
The gross monthly income (Self employed/Business/Salaried & Other income) of the borrower along with that of the spouse/other family members should be at least double of monthly installment of the existing Housing loan & Home Equity loan
Age of the borrower not to exceed 57 years, and repayment period not to exceed 65 years
Purpose Outright Purchase.
Additions/Construction in existing house
Purchase of Vehicle.
Educational Purpose.
Business/ Overdraft.
Personal OD/TL
Amount of Loan - 90% of the home equity value (reassessed value of property less required margin of 25% less present outstanding of HL) or required amount of loan whichever is lower.
Margin - 10% on the home equity value
Repayment Outright purchase / additions /construction over existing building: 8 yrs (EMI basis)
Purchase of vehicle : 5 years (EMI basis)
Educational purpose : 4 years on EMI basis after one year of the completion of the study or one month after getting job whichever is earlier.
Business/Personal OD : Renewal on yearly basis for 3 years (On Satisfactory Performance)
The HEL will be amortized at the end of third year. The outstanding amount will be re-paid in monthly/quarterly installment within 5 years
Rate of Interest - Competitive rate
Moratorium Peroid Outright purchase : Max 3 months
Addition /Construction : Max. 12 months
Purchase of vehicle : Nil
Educational : Duration of the course plus 1 year or 1 month after joining/getting job whichever is earlier.
Security -Existing collateral securities of Housing loan to be extended.
-Vehicle to be registered in Bank's name in case of vehicle purchase