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Maha Super Housing Loan Scheme : for Construction/Acquiring of new or existing house/flat and extension of existing house/flat

S.No

Particulars

Scheme guidelines

1

Purpose

  • For construction/ acquiring new or existing house/ flat not older than 30 years.
  • For Purchase of residential flat under construction /ready directly from the builders/ developers/society/other agencies/Development authority.
  • For extension (additional construction) in the existing house/flat
  • Takeover of existing Housing Loan accounts of the applicants under standard category availed from other Banks / Housing Financial Institutions

2

Eligibility

Individual salaried employees/ self-employed professionals/Businessman / Agriculturist  

3

Eligible Quantum of Loan

Maximum loan amount will be lowest of loan amount assessed on the basis of

  • Permissible Deduction norms
  • Maximum permissible LTV ratio
  • Loan amount requested.

4

Loan to value and Margins Norms

Category of Loan (Individual Home Loan amount)

LTV Ratio

Minimum Margin

Up to Rs.30.00 Lakh

90%

10%

Above Rs.30.00  Lakh

80%

20%

 

5

Moratorium Period

Maximum 36 months. However interest may be capitalized for a maximum period of 18 months thereafter Interest to be serviced as and when applied

6

Repayment period

Maximum Repayment period of 30 years or on borrower reaching the age of 75 years whichever is earlier. 

7

Rate of Interest

Click here to view the Interest Rate

8

Deduction

For salaried individuals.

Up to 75% based on latest monthly income

For Non-Salaried Individuals

Up to 75% based on average annual income ​

9

Security

Equitable / Registered Mortgage of Property. 

10

Processing Fee

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