Maha Super Housing Loan Scheme
- No Processing Charges (Waived up to 31.12.2020).
- Full waiver of Processing Fee for Govt. /State /Central Government / Public sector Employees in case of Takeover Loans.
- Waiver of last two EMI on regular repayment.
- 0.05% concession to women and defence personal.
- Maximum Funding 90% (up to 30.00 Lakh).
- Max finance based on LTV ( Addition of other cost related in the property as a part of Project cost for assessing the loan e.g. Cost of Furnishing, Modular Kitchen, Other one time deposit , electricity, water, GST etc. )
- Maximum Tenure up to 30 Years / up to 75 years of age.
- No EMI till 36 months (for under construction House) only interest after 18 months.
- Income deduction up to 70%.
- PMAY subsidy up to 2.67 Lakhs.
- Interest charged on daily reducing Balance.
- Rate of Interest linked to RLLR.
- No Pre-Payment / Pre-closure / Part payment Charges.
- Concession in ROI for Housing Loan borrower in Car Loan & Education Loan.
Individual salaried employees/ self-employed professionals/Businessman / Agriculturist
Eligible Quantum of Loan
For Salaried : 60 times of Gross Monthly Salary/ 75 times of Net Monthly Salary (Whichever is Higher)
The income of Father, Mother, son, daughter, sister, brother, along with the spouse can be taken for deciding the quantum of loan and repayment capacity.
For Purchase of Plot: - Minimum 30% of the registered value of the plot.
For construction of House (Overall project cost including value of the plot should be taken for LTV, ensuring separate margin for plot)
Maximum 36 months. However interest may be capitalized for a maximum period of 18 months thereafter Interest to be serviced as and when applied
Maximum Repayment period of 30 years or on borrower reaching the age of 75 years whichever is earlier.
Rate of Interest
For salaried individuals.
For Non-Salaried Individuals
Equitable / Registered Mortgage of Property.
0.25 % of the loan amount (Subject to max. of Rs. 25,000/-)
(currently waived up to 31.12.2020)
Full waiver of Processing Fee for Govt. /State /Central Government / Public sector Employees in case of Takeover Loans
0.10 % of the loan amount (Subject to max. of Rs. 10,000/-)