HOUSING LOAN

Found the home of your dreams? Let us help you make it a reality!
If you wish to build your own home or consider refinancing your existing loan, we have a wide array of options that meet your lending needs.

Our application process is customer-friendly and easy. Work with one of our experienced loan officers, who will advise and help you secure a loan that's comfortable for you. We also help with housing loan transfers from another Bank/Financial Institution/NBFC.

icon

Eligibility

Loan would be sanctioned only to the owners of the property being purchased.

FOR SALARIED INDIVIDUALS

  • Maximum age of applicants servicing the loan to be 40 years (if loan repayment period is 20 years)
  • In permanent employment for minimum period of 3 years
  • EMI/Average monthly income < 50% (minimum take home Rs.10,000/-)

IN CASE OF BUSINESS

  • Maximum age of applicants to be 45 years (if loan repayment period is 20 years)
  • Professionals & self-employed persons in business for at least 3 years
  • EMI/Average monthly income < 50% of cash accruals as per last audited financials or ITR filed

IN CASE OF NRI

  • Resident relative to be taken as co-applicant
  • NRI to execute POA in favour of resident
icon

Quantum

90% of Agreement Value / Market Value / Construction Cost (whichever is less) for loans upto Rs. 35 lakhs

85% of Agreement Value / Market Value / Construction Cost (whichever is less) for loans above Rs. 35 lakhs

Maximum up to Rs. 140 lakhs

icon

Repayment Period

Maximum 240 months

icon

Security

  • Mortgage of the property being purchased / constructed (future life of asset which should not be less than 30 years)
    - Collateral security requirement may be waived for under-construction property (subject to minimum plinth completion status, approved plan, RERA registration and CC up to the floor of the flat being purchased)
  • It is advisable to take Term Policy for the loan amount & tenure
  • GUARANTORS
    One Surety with adequate net worth, acceptable to the bank (Maximum age 50 Years) subject to:
    In case of
    - High income Borrower (Monthly net Salary of Rs 1 lakh and above) Guarantors EMI coverage is not mandatory
    - For Mortgaged securities, Guarantor EMI coverage is not mandatory.
icon

Rate of Interest

    Housing Loan Rate
  • For Loans up to Rs. 35 lakhs
    PLR less 4.00% i.e. 8.00% for women
  • For Loans up to Rs. 35 lakhs
    PLR less 3.90% i.e. 8.10% for others
  • For New loan above Rs. 35 lakhs upto Rs. 70 Lakhs
    PLR less 3.40% i.e 8.60% p.a
  • For Loans to existing owner of more than 2 houses or for investment / lease purpose
    PLR less 2.00 % i.e 10.00 % p.a payable monthly

icon

Documents Required

  • Prescribed loan application form
  • Latest Photograph, Photo ID proof and Residence proof of Applicant
  • I.T. returns for last 3 years (Business / Self-Employed)
  • Last 3 months Salary slip (Salaried)
  • Bank statements for last 12 months (Business / Salary Accounts)
  • Property related documents

CIBIL Report

  • CIBIL report of all applicants & guarantors to be obtained. (Minimum score of 700 of all applicants required)

Insurance

  • Mortgaged property to be insured with Bank's clause.

*For Construction of House

  • Additional security to be given equivalent or more than proposed loan amount
  • Construction of house to be completed within 24 months from date of sanction

LOAN PRODUCTS

icon

Business Loan

icon

Scheme for Commercial Transporters

icon

Pragati Scheme

icon

Lease Rental Discounting

icon

Housing Loan

icon

Personal Vehicle Loan

icon

Surety/Consumer Loan

icon

Doctor Care

icon

Loan Against NSC / KV

icon

Loan Against Shares and Units of Mutual Funds

icon

Loan Against Bank Deposit

icon

Loan Against Insurance Policy

icon

Gold Loan

icon

Education Loan

icon

Travel Loan

icon

Reverse Mortgage Loan - Aashraya

icon

Loan Against Property

icon

Super Bike Loan

icon

MSE 100

icon

Solar Smart

Stay Updated

From our new features to promotional announcements,
get the latest on what we are up to.

How can we help you?

If you have any questions and you can't find the answer on our website, give us a call or message us.

26442829 / 26442830 / 26442831

ccbl@citizencreditbank.com

Citizencredit Co-operative Bank Ltd.
CITIZENCREDIT CENTRE
CTS No:236, Marve Road, Orlem,
Malad (W), Mumbai 400064

Hi! My name is

I have a query about

You can reach me at

or