Last Update Date: 20/10/2023

2
Repayment Period upto 30 Years
75% to 90% of the Cost of the House/Flat
Lower Processing Charges
Faster Disbursement
Hassle Free Sanction

  • Groups of individuals
  • Members of Co-operative Societies
  • Individuals not more than 55 years of age. However Individuals may be considered at the age of 60 provided their legal heirs join along with them.
  • Loan must be liquidated before attaining 70 Years of age.

1. For Salaried Individual: A permanent job with a minimum of 2 or 3 years service.

2. For Self-employed Professional: A minimum period of three years of activity in the related field.

  • 75% to 90% of the cost of the house/flat excluding Registration and Documentation charges. The amount depends on your age and repayment capacity. Up to 30% of the loan amount given for purchase of plot.
  • Interest Rate: Retail Credit Interest Rates (Click here)
  • Repayment Period: Repayable in equated monthly installments for a maximum period of 30 years.

EMI Calculator

Loan Amount

Repayment in Months

Rate of Interest

EMI

Interest Payable

Total Payable

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    ✔ Concessions Offered on Home Loans during the period 18.05.2023 to 31.07.2023:

    ✔ 100% waiver on Processing Charges

    ✔ 50% waiver on Documentation Charges.

Purpose

    ✔ TL for acquisition/construction of new/old flat up to two houses.

    ✔ Age of the old flat/house should not exceed 25 years.

    ✔ Scheme also permits loan for construction of additional rooms/first floor/second floor on the already owned houses Loan shall be considered for purchase of plot subject to the cost of plot

    ✔ Rural Area-Cost of the plot does not go beyond 30% of the eligible loan amount in semi urban and rural area.

    ✔ Metro & Urban Area-60% of FMV of the land or 60% of purchase price or 60% of eligible loan amount, whichever is less

Eligibility

    ✔ Individual severally and as group of individuals having independent disposable income from salary/profession/agriculture/trade/business.

    ✔ Salaried Class- Confirmed Service & Min 2 Years ITR for Loan & take home pay Norms or

    ✔ Min 6 Months latest Salary Slip,

    ✔ Self Employed/Businessman/Professional

Age Criteria

    ✔ Maximum age at the time of availing the loan should not exceed 60 years

    ✔ If the applicant has crossed 55 years, his/her spouse or legal heirs should be included as obligant

    ✔ Loan to be liquidated before 1st applicant attains 70 Yrs

Arrival of

quantum of

loan for new

flat/house based on

LTV ratio

The value of the property to be purchased shall be arrived based on the lower of the following values:

(i) Cost of the house/flat, excluding stamp duty, Registration charges and other documentation charges, mentioned in agreement to sale

AND

(ii) Current Fair Market value as per the latest valuation report.

Quantum for

Old

house/flat

based on

LTV ratio

The value of the property to be purchased shall be arrived on the lower of the following:

(i) Cost of the house/flat mentioned in the agreement to sale.

AND

(ii) Fair market value as per the latest valuation report.

Repayment

Maximum 30 years including maximum holiday period

Holiday

Period

    ✔ New House Flat -18 months from the date of disbursement of first instalment of loan or Completion of construction whichever is earlier. Old houses/flat -up to 3 months.

    ✔ Purchase of Flat Under Construction for Individuals

Depending on no. Of Floor

Maximum Moratorium

Upto 7 Floors

24 Months

>7 &<= 14

30 Months

>14 &<= 21

36 Months

>21

48 Months

Max 36 Months- Branch

Discretion

Max 48 Months-RLCC (Esp.

High Rise Building)

Download the Subha Gruha Application Form: (Click here)

To Apply Online: (Click here)