| Eligibility |
- For construction or acquisition of new dwelling units
- For reconstruction
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| Quantum of Loan |
- Not exceeding Rupees 25 lacs.
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| Repayment period |
- Any period above 5 years and upto 15 years
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| Bank Lending Rate for housing finance |
- Long Term PLR: 11.00% p.a.(on all existing and fresh Housing loans upto Rs.20.00 lacs)
- LTPLR +1% : 12.00% p.a. (on all existing and fresh Housing loans exceeding Rs.20.00 lacs & on existing loans for second house sanctioned upto 31.05.11)
- LTPLR +2%: 13.00% p.a. (on existing & fresh loans for second house sanctioned w.e.f. 01.06.2011)
- PLR + 2%: 14.50% p.a.(on Housing loans for investment /lease)
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| Repayment instalment |
- For the sake of convenience repayment will be in equated monthly instalments to be adjusted for a variance in the interest rate.
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| Prepayment |
- No prepayment penalty applicable for the present
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| Margin |
- 25.00% or as applicable under National Housing Bank Refinance scheme
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| Security |
- Mortgage of the dwelling unit and two guarantors
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| Repayment |
- Out of current income or terminal benefits
- Installment not to exceed 50% of current family income
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| Scope |
- All terms and conditions as appearing under the National Housing Bank Refinance Scheme for such loans are subject to the changes as advised by the National Housing Bank from time to time.
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