A Housing Loan facility to our customers in the form of Cash Credit where in customers can park any additional/lump sum amounts received, in this account as surplus, which will enable him to save interest to that extent. Thus the actual interest charged will be lesser than the term loan.

Eligibility

Existing SB/CD customers of our Bank, who are maintaining a minimum balance of Rs. 5000/- with regular transactions in their accounts OR who maintain their salary account.

Loan Amount

Loan shall be granted as Cash Credit Limit. Drawing Power of the CC limit, equal to the monthly EMI will be reduced every month.

Margin

Margin ranges from 10% to 25% of the estimated cost (including the cost of the land) for new as well as old houses/flats, depending upon the loan quantum.

Rate of interest 

Please click Retail credit interest rates 

Repayment

Repayable in equated monthly installments for a maximum period of 30 years.

No Pre payment charges

Holiday period

An initial holiday period of up to 36 months shall be permitted. 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 installment of the loan.

Security 

Immovable property being bought/constructed/renovated to be mortgaged. The land should be in the applicant's name or jointly with spouse/close relative (co-obligant). Applicant should have a clear and marketable title over the property to create a valid mortgage.

Processing charges

Please click here for Processing Charges

While all efforts have been made to update the information, constituents are requested to contact your nearest branch for latest details.