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Housing Loan

  • Housing Loan upto Rs.70/lacs is available for construction/purchase of old/new flat, bungalow,raw house and also for carryout addition/alteration in the existing residential house.

REPAYMENT PERIOD :-

  • House-Building Construction / Purchase Loan :Upto 240 months (Max)
UNIT REPAYMENT PERIOD
  CONSTRUCTION PURCHASE
House-Building (Residential) Upto 240 Months (Max) Upto 240 Months (Max)
Building / Unit (Commercial) Upto 120 Months (Max) Upto 120 Months (Max)

MARGIN :-

UNIT MARGIN
  RESIDENTIAL COMMERCIAL
House-Building / Unit 20% of Cost of Construction / Purchase agreement. 25% of Cost of Construction / Purchase agreement.
 
MAXIMUM PERMISIBLE LIMIT:-
  • 50 times of Monthly Income or 80% of Cost of Construction / Sale Agreement, whichever is less, subject to maximum limit of Rs. 70.00 Lakhs.
GUARANTORS / SURETIES: -
 
UNIT SURETIES
  RESIDENTIAL COMMERCIAL
House-Building / Unit  against mortgage of immovable property 02 Sureties 02 Sureties
 
DOCUMENTATION: -
  • Pro-note, Loan Agreement, Mortgage Deed, NOC / Permission from Kandla Port Trust for getting mortgage charge in favour of the Bank. In case of property mortgaged is out of Gandhidham Town, Bank Lien/Charge Certificate from Talati. Insurance Cover in favour of the Bank, the receipts of Ground Rent / Municipal Taxes paid upto date.
  • The Bank shall obtain National Building Code (NBC) certificate from the Chartered Engineer in case of Construction loans where the construction costs equals to or exceeds Rs. 05 Crores (Rs. Five Crores).

Click Here to view Loan Policy/Loan Rules