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Last Updated on: 15/04/2024

Repayment Period upto 30 Years
Repayment Period upto 30 Years
Cost of the House/Flat
75% to 90% of the Cost of the House/Flat
Lower Processing Charges
Lower Processing Charges
Faster Disbursement
Faster Disbursement
Hassle Free Sanction
Hassle Free Sanction

  • • 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.

1. For Salaried Individual: A permanent job with a minimum of 2 or 3 years service.

2. For Self-employed Professional: A minimum period of three years of activity in the related field.

  • 75% to 90% of the cost of the house/flat excluding Registration and Documentation charges. The amount depends on your age and repayment capacity. Up to 30% of the loan amount given for purchase of plot.
  • Interest Rate: Retail Credit Interest Rates (Click here)
  • Repayment Period: Repayable in equated monthly installments for a maximum period of 30 years.
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  • • Concessions Offered on Home Loans during the period 18.05.2023 to 31.07.2023:
  • • 100% waiver on Processing Charges
  • • 50% waiver on Documentation Charges.

Purpose
  • • TL for acquisition/construction of new/old flat up to two houses.
  • • Age of the old flat/house should not exceed 25 years.
  • • Scheme also permits loan for construction of additional rooms/first floor/second floor on the already owned houses Loan shall be considered for purchase of plot subject to the cost of plot.
  • • Rural Area-Cost of the plot does not go beyond 30% of the eligible loan amount in semi urban and rural area.
  • • Metro & Urban Area-60% of FMV of the land or 60% of purchase price or 60% of eligible loan amount, whichever is less.

Eligibility
  • • Individual severally and as group of individuals having independent disposable income from salary/profession/agriculture/trade/business.
  • • Salaried Class- Confirmed Service & Min 2 Years ITR for Loan & take home pay Norms or
  • • Min 6 Months latest Salary Slip,
  • • Self Employed/Businessman/Professional

Age Criteria
  • • Maximum age at the time of availing the loan should not exceed 60 years
  • • If the applicant has crossed 55 years, his/her spouse or legal heirs should be included as obligant
  • • Loan to be liquidated before 1st applicant attains 70 Yrs

Arrival of

quantum of

loan for new

flat/house based on

LTV ratio

The value of the property to be purchased shall be arrived based on the lower of the following values:

(i) Cost of the house/flat, excluding stamp duty, Registration charges and other documentation charges, mentioned in agreement to sale

AND

(ii) Current Fair Market value as per the latest valuation report.

Quantum for

Old

house/flat

based on

LTV ratio

The value of the property to be purchased shall be arrived on the lower of the following:

(i) Cost of the house/flat mentioned in the agreement to sale.

AND

(ii) Fair market value as per the latest valuation report.

Repayment

Maximum 30 years including maximum holiday period

Holiday

Period
  • • New House Flat -18 months from the date of disbursement of first instalment of loan or Completion of construction whichever is earlier. Old houses/flat -up to 3 months.
  • • Purchase of Flat Under Construction for Individuals.

Depending on no. Of Floor

Maximum Moratorium

Upto 7 Floors

24 Months

>7 &<= 14

30 Months

>14 &<= 21

36 Months

>21

48 Months

Max 36 Months- Branch

Discretion

Max 48 Months-RLCC (Esp.

High Rise Building)

Download the Subha Gruha Application Form: (Click here)

To Apply Online: (Click here)

  • Full Waiver of Processing Charges on Housing Loan Concession in Documentation Charges for Housing Loans