Eligibility

• The Housing loan may be sanctioned to the borrower within the area of operation of the Bank.
• Age 21 to 55 years.

Category of Loan

• For purchase of ready built house / Flat.
• Construction of house.
• Repairs and Renovation of house.
• Extension of existing house.

Membership

• The applicant should be a permanent member of the Bank.

Basis for deciding loan limit

• 15% to 25% margin on cost of construction or purchase of House / Flat.
• In other cases 25% margin.

Documents required

• Original sale deed of property. 
• 7/12, 8A, PR card etc. 
• Permission of construction.
• Salary Certificates. 
• N. A. Order copy. 
• Allotment letter of Flat.
• License / Registration copy. 
• Balance sheet up to 10 Lacks un – Audited. 
• Income tax return. 
• Property Documents. 
• Sanctioned Map/ Permission  
• Agreement to sale copy.  

Guarantors

• Two guarantors with good network.
• Should not be defaulter of Bank.

Collateral security

• House / Flat.
• Liquid Security.

Interest Rate

• Interest will be charge on monthly basis as per the prevailing rate.
• penal interest 2% will be charged in case of default.

Moratorium Period

• If required, three months to one year.

Disbursement of Loan

• The loan will be disbursed as per the progress of construction.
• Incase of purchase of readymade House the disbursement can be made in single installment.

Fees and charges

• 2.5% linking shares.
• Processing fees as per the Bank rule.
• Stamp duty as per the bank rule.