1

Purpose

Gen-Next Housing Loan provides 20% higher loan amount than that of Home Loan eligibility to salaried employees (NRI) of Private Sector Companies / MNCs / Organizations etc in foreign country, subject to maintenance of stipulated LTV Ratio and necessary margin requirements.

2

Age

Between 21 years to 45 years

3

Eligibility

a. Minimum Annual Gross Income of applicant should be equivalent to Rs. 10,00,000/- (expected rental income from the proposed property shall not be included in the monthly income of the borrower).

b. The eligible amount to be calculated based on the EMI arrived at present salary with Take Home Pay norms and not on the EMI after adding 20% to the loan amount,

i.e., if the applicant is eligible for Rs. 10 lakhs with the present salary, the eligible loan amount will be Rs. 12 lakhs, subject to compliance of LTV ratio.

4

Holiday / Repayment period

a. An initial holiday period of up to 36 months shall be permitted under the Scheme. However, loan tenor should not go beyond 30 years including the holiday period and the age of the borrower not to exceed 70 years at the time of last instalment of the loan.

b. The borrower will have the option to pay or to defer the Interest payment during the Holiday period. If the borrower choses to service the interest along with the EMI after the holiday period, the Interest compounded shall be added to the Loan amount and the EMI to be fixed accordingly.

c. The regular EMIs are to start after completion of 36 months.

d. There will be option for the borrower to pay additional amount per month along with regular EMI.

5

Other Terms and Conditions

a. All other conditions with regard to eligibility, Quantum of Finance, Repayment, margin, Rate of Interest, Processing charges, Security, etc., will remain as in the NRI Housing Loan Scheme.

b. The repayment tenor includes the extended holiday period also.

c. Any special concession in Interest Rates, Processing charges, etc., if announced as any festival offers, will be applicable under this Scheme also unless it is specified otherwise.