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Personal Banking

Last Updated on: 02/06/2023

Reverse Mortgage Loan


Senior citizens completed 60 years of age owning a self-acquired, self-occupied residential property (house or flat) located in India with clear and transferable title, free from any encumbrance.

Joint loans with spouse

Possible provided the first named applicant is a Senior Citizen

and the age of the spouse is not below 55 years


  • To upgrade, repair, renovation or extension of the house property
  • Medical expenses or maintenance of family.
  • Supplementing pension or any other income.
  • Meeting any other need

Quantum of Loan

Min Rs.5.00 lac & Max: No ceiling

(Depends on market value of the property, age of the borrower and the rate of interest prevailing)



Rate of Interest

Fixed Rate of Interest at MCLR +1.00%


15 years No Holiday Period

Release of the Loan

45% of this eligible loan amount is dispersed to the borrower as monthly annuity with maximum cap of Rs. 50,000/- and the remaining 55% is apportioned towards interest accumulated during the loan period.


  • Registered Memorandum of deposit of title deeds of the house (residential) property against which the loan is granted.
  • Commercial property will not be accepted as security.


  • The Bank as well as borrower both will have the option for foreclosure.
  • Lump sum payment is restricted only for medical expenses.