Housing Loan

HOUSING LOANS
A loan given by the bank to purchase house/flat or to construct a new house. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once the payment has been made and other terms of the mortgage have been met.

DETAILS OF LOAN
• Eligibility : ” A “class and ” C ” class membership
• Maximum Amount : Rs.5000000/-(Fifty Lakh)
• Repayment period : Up to 240 months depend on age
• Security : Collateral security of the proposed building
• Processing charge : 0.6 % of Loan Amount maximum up to Rs.50000.
• Share Amount : 2.5 % of the loan amount
• Other charges : Legal charges….

For Purchase : Loan Amount will be 60% of Purchase Value.

For Construction : Loan Amount will be 75% of Estimate.

2 % Interest Rebate eligible only Regular repayment