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PURCHASE OF HOUSE FOR RESIDENTIAL PURPOSE

RATE OF INTEREST FOR LOAN AMOUNT  UPTO RS.25 LAKHS: 8.50% p.a.

RATE OF INTEREST FOR LOAN AMOUNT ABOVE  RS.25 LAKHS: 8.90% p.a.

FEATURES

1. 75% of the cost of Registry inclusive of cost of stamp papers amount or maximum Rs.70 lakh whichever is less.
2. To be repaid in maximum 240 installments and EMI should not be more than 50% of monthly income of borrower.
3. To be secured by Registered Mortgage of property and personal sureties of members.
4. Loan amount to be paid directly to the seller at the time of mortgage of property.

DOCUMENTS REQUIRED

1. Valuation of property from Govt. approved valuer.
2. Legal report of property from Bank`s advocate.
3. Latest municipal tax/house tax receipt.
4. Property should be fully insured against all risks in joint names of bank and borrower.
5. Income Proof, ITRs, Residence Proof, photographs of borrower and sureties/guarantors.

NOTE: RATE OF INTEREST GIVEN ABOVE ARE SUBJECT TO CHANGE