Maha Super Housing Loan Scheme: for repairs/renovation/alteration of existing house/flat for new standalone borrowers
Eligible Quantum of Loan
a. 100% of the actual cost of repairs/renovations/alterations
b. Maximum Quantum : Maximum up to 25% of the realizable value of the property based on the latest valuation report not older than 3 months
c. *Lower of (a) or (b)
The income of son, daughter, sister, brother, along with the spouse can be taken for deciding the quantum of loan and repayment capacity provided the property is in the name of all joint members or their guarantee is obtained
Maximum Repayment period of 20 years
No Moratorium period is allowed
Rate of Interest
For salaried individuals.
Up to 75% based on latest monthly income
For Non-Salaried IndividualsUp to 75% based on average annual income
Equitable / Registered Mortgage of Property.
0.25 % of the loan amount (Subject to max. of Rs. 25,000/-)
Full waiver of Processing Fee for Govt. /State /Central Government / Public sector Employees in case of Takeover Loans