Eligibility

• Individuals in the age group of 18 - 65 years owning Unencumbered self-occupied residential property/ commercial property /or building in his/her own name for a period not less than 1 year
• Permanent Employees of Central/ State Govt./ Public Sector Undertakings (PSUs) (including Schools/Colleges/ Educational Institutions), Reputed Companies /MNCs, Individual Businessmen, professionals and Self employed individuals having minimum 2 years standing.
• Loan against third party property, open Plot, Property on Rental is strictly prohibited.
• The loans should not be used for speculative purposes

Minimum Annual Income

• Rs.5.00 Lakh (Last 2 years Average income) - Minimum past 2 year
  ITR/Form 16 is Mandatory.
• Close relative/s (son, daughter, sister, brother, along with the spouse)
  may join as co applicant/s for supplementing repayment capacity.
  However, maximum of two co- applicants can join to supplement
  repayment capacity.
• Cash accruals/Depreciation also may be added to income, in case of
  borrowers other than salaried class.

Purpose

For meeting personal needs

Loan Quantum

• Based on repaying capacity and subject to the ceilings given below.
• Minimum :- Rs.2.00 lakh
• Maximum
• Properties located at Metros :- Rs. 3.00 Crore
• Properties located at other centres :- Rs.1.00 Crore

Margin

40% of the Realizable value of the property

ROI

Click here to view the Interest Rate

Repayment

Maximum Repayment period of 7 years or on borrower reaching the age of 75
years whichever is earlier.

Deduction

Should not exceed 60% of gross monthly salary/ gross annual income

Security

Mortgage of the property

Processing fee,
Document and
Other charges

Processing fee @ 0.50 % and Document charges @ 0.10% on the loan amount