|
Purpose
- Purchase / Construction of Property for self-occupancy.
- Extension / Renovation on self occupied residential Property.
Product Categories
- Purchase of pre-constructed Residential Property.
- Construction of residential property on self owned plot of land.
- Extension / Renovation on self owned & occupied property.
- Balance Transfer Facility (BTF) for any of the above finance.
Eligible Borrowers*
- Salaried Persons
- Self Employed Professionals
- Business Persons
Financing Amount
- Purchase Rs.Up to 10 Million
- Construction Rs.Up to 10 Million
- Extension / Renovation Rs.Up to 03 Million
- Balance Transfer Facility Rs.Up to 10 Million
Tenure
- Purchase Up to 20 Years
- Construction Up to 20 Years
- Extension / Renovation Up to 07 Years
- Balance Transfer Facility Up to 20 Years
(Calculated from the date of original finance)
Mark-up Rates**
- 1 Year KIBOR + 2% p.a., to be revised on each anniversary of finance.
Processing Fee
- Rs. 2500/- or 0.50% of the finance amount whichever is
higher (refundable where case is not approved).
Service Length
- Minimum 5 years of confirmed service with present employer in case of salaried persons.
Age
At the time of maturity of the Finance applicant's age must not be more than;
- 60 years in case of Salaried persons
- 65 years in case of self Employed / Business persons
Debt Burden
- Monthly repayment installments not to exceed 40% of the net take home salary or 40% of declared monthly income (taking into account other financing facilities availed from other banks/DFIs).
Moratorium
- A moratorium of 12 months is allowed in case of finance for Construction.
Pre-Payment/ Partial Prepayments
- In case of Partial Payment / Balloon Payment / Full adjustment, no penalty will be charged.
Late Payment Charges
- Rs. 500/- per Installment per month.
Insurance
- Mortgage Protection Insurance cover through Bank’s designated Insurance Company.
- Insurance premium on the insurance cover payable upfront each year.
Charges
- Documentation Charges at actual
- Valuation Charges
- Legal Opinion Charges
- Income Estimation Charges (if applicable)
* Subject to fulfillment of our eligibility criteria.
** Subject to change and revised rates to be communicated from time to time.
For further details please call:
Consumer Finance Division Phones #(021) 2439562-67 ext-309
|
