• Who have put in a minimum period of service /experience  of 3 years( including previous  employment/experience and confirmed in the present  employment)
• Our Bank staff as well as Spouse of the Staff can also avail home loan. In such cases the Guarantee of  Spouse/Staff is compulsory
• Our existing Home loan Borrowers can also be considered under this scheme

Max .Exit Age -70 years

Maximum – Rs.10.00 lakhs

Maximum loan limited to 70 % of the Security or 70 % on estimated cost of repairs and renovation whichever is lower

• Lien on our Bank Deposits ( except IB Tax saver ) including interest accrued net of TDS
  • Deposits can be in the name of individuals /joint names
  • Third party deposits can also be accepted. However guarantee from such third party should be obtained.
• Pledge of NSCs ( incl.Int .Acrd) which have run for a minimum period of three months
• LIC Polices –Assignment of Life insurance policies (to the extent of surrender value of the policy) etc. LIC polices should have run for a minimum period of three years

• Security Discharge letter
• Latest copy of the latest Tax paid certificate /sale deed/Gift deed /mutation certificate/Partition deed for which repair renovation to be carried out
• Estimate of the repairs/renovation /alteration duly approved by our panel Engineers
• Income proof as applicable to Home loan scheme

• For End use –A declaration shall be obtained from the Borrower indicating the purpose for which the loan is being sought, backed by undertaking to utilize the same.
• CIBIL report to be obtained
• Entry level scoring –BBB to be ensured

Under Sec.24 of IT Act , income Tax benefit up to

• Rs.30000/- on the interest on loan taken for Repairs and Renovation in respect of properties constructed before 31/03/1999 and
• Rs.200000/- is in respect of properties constructed after 01/04/1999