Salaried Class customers having net salary of Rs. 8000/- before deduction of proposed EMI. It is not applicable to NRIs

Purchase of plot on ownership basis (not on lease basis), the layout of which is duly approved by competent authorities

30 times of the gross salary subject to a maximum of Rs. 10 lakhs.

To arrive at the quantum of loan the income of spouse can be taken into account if he/she is employed in Govt. / PSUs Organisations / reputed private sector organisation.

40% take home pay on gross income after the proposed EMI

Minimum 33% on the land cost

10.50% p.a. (floating) - BPLR+Tenor Premium minus 3.25% - If the construction is not commenced within 5 years from the date of purchase, then minimum BPLR should be charged (presently 13.25%) from 6th year onwards

Repayment Period

Processing fee of 1.15% to be collected which is non-refundable

The processing & administrative charges are exclusive of legal and valuation charges. Bank panel Lawyer and Engineer will give opinion / certificate and the charges payble to them will be borne by the Borrower.

120 EMIs

2% on the balance outstanding or on the applicable Drawing Limit whichever is higher

Not permitted

• Proof of employment and salary certificate for self and spouse.
• Income Tax for 3 years (wealth Tax Returns wherever applicable)
• Bank Pass Book or statement of accounts for last 6 months.
• Agreement of sale / Sale deed alongwith patta
• NIL EC for 13 years
• Parent document for 30 years
• Valuation report from Panel Engineer Legal opinion from Panel Lawyer

EM of land to be purchased.

• Property to be purchased should be in a good accessible developed / developing area and the Bank should be able to sell the same without problem in case of default.
• Construction of the building should be commenced within 5 years from the date of purchase of plot / date of loan. Loan can also be applied for construction as per norms of the Home Loan Scheme.
• The lay out of the plot should have been approved by the appropriate authorities like CMDA, Town Planning Authorities etc.
• Spouse guarantee to be taken wherever his/her income is taken into account for arriving at the loan eligibility. Staff members can also avail loan under this scheme. In the case of loan availed by staff /spouse the guarantee of spouse / staff is compulsory.
• Property should be properly protected by fencing / compound wall.
• All other guidelines as contained in the Manual of Instruction - Conventional Advance for loans against immovable property should be meticulously observed.
• Age of the applicant/ Recognition of income level and all other terms as per Home Loan Scheme only

Note: other conditions apply