Housing Loan

HOUSING LOAN

The loan will be for acquiring house/flat including for purchase of readily built house/flats. The application should be accompanied by approved plan/detailed estimate.

•  Repayment period                     : 5 years

•  Interest rate                           : 12.50% with monthly rest

•  Security                                     : Equitable mortgage of the property acquired or proposed to be acquired with the loan amount// equitable mortgage on immovable properties mentioned in the application form

•  Available at all branches

•  Repayment : Equated monthly instalments

•  Cushion period provided in special cases

•  No Prepayment penalties

The loans will be restricted to individual members; however exemption can be considered in cases where the loan is proposed  to be utilized for purchasing ready built house or the new house is proposed to be constructed on land, in the joint names of the applicant and his/her spouse or dependant. The applicant should have a clear and marketable title to the property.