Last Updated on 05/07/2017
SUBHAGRUHA PRE-APPROVED HOMELOAN

Unique offer providing provisional sanction of Home Loan limits to our customers before finalization of the property which will enable them to negotiate with the builder/seller confidently.
Eligibility                                                                    
 
Groups of individuals, Members of Co-operative Societies, Individuals not more than 55 years of age. However Individuals may be considered at the age of 60 provided their legal heirs join along with them.
Loan must be liquidated before attaining 70 Years of age. 
For salaried individual:
A permanent job with a minimum of 2 or 3 years service
For self-employed professional:
A minimum period of three years of activity in the related field
Margin
Margin ranges from 10% to 25% of the estimated cost (including the cost of the land) for new as well as old houses/flats, depending upon the loan quantum.
Rate of interest 
Repayment
Repayable in equated monthly installments up to a maximum period of 30 years.
Holiday period
A maximum holiday period of 18 months from the date of first disbursement or completion of construction - whichever is earlier.
In case the house is purchased, the holiday period is  3 months.
Security 
Immovable property being bought/constructed/renovated to be mortgaged. The land should be in the applicant's name or jointly with spouse/close relative (co-obligant). Applicant should have a clear and marketable title over the property to create a valid mortgage.
Validity period of the sanction:
Pre-approved loan arrangement letter will be valid for a period of 3 months. Property papers will be required to be submitted by the borrower within the validity of letter.
Processing charges
While all efforts have been made to update the information, constituents are requested to contact your nearest branch for latest details.