Target Group

• Resident individuals (salaried, Business men, P&SE people having 3 yrs exp /service. Pensioners with adequate income, staff of our bank, HUF)

Purpose

• Purchase of house plots in approved layouts

Age of applicant

• Entry age is 18 years and exit age is 70 years

Quantum of Loan

• Salaried: 36 times of Gross monthly income
• For Businessmen & P&SE People: 3 times of annual net income (average of latest 2 years)

Max Loan Amount

• Rural Areas : 10 lakhs
• Semi Urban : 50 lakhs
• Urban/Metro : 75 lakhs

Take Home Pay

• Net Take Home Pay after deducting proposed Loan EMI: 40% of Gross Pay

Margin

• Maximum 25% of plot cost
• Loan To Value (LTV) ratio should not exceed 75%

Rate of Interest

Security

• EM of house plot to be purchased and EM to be registered.

Repayment Period

• Max 180 EMIs & No holiday period

Processing Charges

• 1% + GST