Applicants having sufficient, regular and continuous source of income for servicing the loan under the following categories:

• Salaried Class with minimum service of three years
• Businessmen, Professionals and Self-employed with minimum experience of three years
• Pensioners with repayment capacity

• Maximum permissible age at the time of applying : 50years
• Maximum permissible age at the end of repayment period : 60 years

Relaxable by 10 years, if found viable by Bank

• For purchase / construction of House / Flat

Building Plan approved by competent authority to be submitted

Purpose	Loan upto Rs. 20 lakhs	Loan above Rs. 20 lakhs
Purchase / construction of New House / Flat	20%	25%
Purchase of Old House / Flat	30%	30%

For Repairs and renovation : 30 %

• 36 times of Gross Monthly Income or 60 times of Net Monthly Income whichever is higher.
• Spouse income can be included for calculating eligible loan amount, provided he/ she has steady income


Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions.

For outright purchase of ready-built house / flat : Lump sum directly to the seller / builder

For construction: In stages as under:
a) Purchase of Land / upto basement	: 30%
b) Upto Lintel	: 20%
c) Upto Ceiling	: 20%
d) on completion	: 30%

• Loans for purchase / construction of House / Flat : 20 years (including holiday period) for floating rate loans and 10 years (including holiday period) for fixed rate loans
• Maximum Holiday Period of 18 months allowed for Home Loans for the purpose of construction of House / Flat.

All our Home Loan Floating interest rates are linked to our BPLR (presently 12.00%)

Floating Rate of Interest for Home Loans for construction/purchase of House/Flat (for both existing accounts and fresh accounts) :

	Loan amount* upto Rs. 20 lakhs	Loan amount* above Rs. 20 lakhs & upto Rs.30 lakhs	Loan amount* above Rs. 30 lakhs & upto Rs. 2 crores
Up to 5 years	9.00%	9.25%	9.75%
> 5years up to 10 years	9.25%	9.50%	10.00%
> 10 years up to 15 years	9.50%	9.75%	10.25%
> 15 years up to 20 years	9.75%	10.00%	10.50%

For Repair & Renovation -

Maximum Loan amount

: Rs. 5 lakhs

Maximum Repayment period

: 5 years

*Loan amount would mean original loan amount.

Interest is calculated on daily reducing balance basis and from the date of disbursement.

Fixed Rate of interest (for fresh accounts w e f 01.07.2009):

	Loan amount upto Rs. 20 lakhs	Loan amount above Rs. 20 lakhs & upto Rs. 2 Crores
Up to 5 years	10.50%	11.50%
> 5years up to 10 years	11.00%	11.50%

• For Fixed Rate Home Loans the maximum repayment period is restricted to 10 years.
• Fixed Rate Home Loans will be subject to reset clause – Interest reset at the end of every two years.

Processing Charges	: 0.25 % on Loan amount (Non refundable) (to be remitted at the time of submission of application)
Administrative Fees	: 0.32 % on Loan amount (at the time of acceptance of sanction)
Engineer valuation fee and legal opinion charges to be borne by the Applicant.

• No pre-closure charges, if loan is closed out of own funds.
• 2% on Balance outstanding or applicable Drawing Limit whichever is higher, if loan is closed by way of take over by another Bank / Financial Institution.

• Equitable Mortgage of the property.
• If the home loan property could not be offered as security for valid reasons, alternate property, the value of which is more than 2 time of the loan amount may be accepted.
  Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located

At the option of the applicant, Group Insurance Life Cover is arranged (at present through L I C) at concessional premium (to be borne by the Applicant). The Applicant may opt for including the premium amount as part of Home Loan Project Cost.

1. Completed Application Form with passport size photograph
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID
4. Proof of business address in respect of businessmen / industrialists
5. Proof of Employment
6. Salary Certificate
7. Proof of other income like rent, interest on investment, if any
8. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
9. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed
10. Agreement of Sale / Sale Deed
11. Approved Building Plan
12. Title Deed Documents for 30 years
13. Patta

Loan for purchase of House Sites is given with interest rate at 10.00% floating and margin of 33%. Maximum Loan amount is Rs.10 lakhs and max. repayment period is 10 years.

Note: RBI guidelines in force from time to time are applicable.