राष्ट्रीय टोल फ्री नंबर1800 425 00 000

प्लॉट लोन

प्लॉट लोन

Target  Group Eligible persons/Age of the Applicants/Recognition of Income level /NTHP as applicable for Home Loan Scheme to Residents/NRIs.
Purpose Purchase of House site on ownership basis( not on lease basis) layout of which  duly approved by Competent Authority .
Quantum of loan Permitted  up to 36 times of the Gross Monthly Income ( as per latest Salary Slip for salary class) or THREE times of Annual Net Income ( in case of P& SE /Business category- based on average of latest Two years ) subject to maximum of Rs,1200.00 lakhs.
For purchase  of property in Amount of loan ( Rs. In lakhs)
Rural Area 100.00
Semi urban   200.00
Urban    600.00
Metro    1200.00
Margin Maximum 25 % for residents and NRIs on the cost of plot.

LTV ratio should not exceed 75%. If the value of the plot to be purchased is more than Rs.100.00 lakhs, valuation of two Independent panel engineers are to be obtained

Processing fee
  • As communicated by Corporate office from time to time.
Interest Rates
  • Plot loan carry additional Interest of 1 % over and above the applicable interest rate for Home loan and the same can be waived subject to the following.
  • On availment of Home loan for construction from our Bank.
  • On completion of construction of the house  from own source based on the request made by the Customers  and duly evidenced by the Engineer certificate, However reduction of ROI shall be effective from the date of sanction and not  on completion of construction.
  • Construction to commence within Two years from the date of handing over possession in case of Government HAD.
  • For others, Construction to commence within Two years from the date of availing loan.
  • If the construction is not commenced within the maximum stipulated period, higher Interest rate @ Interest rate applicable to Ind Mortgage  loan to be charged on the expiry of the stipulated  period of commencement  fro construction  for the delayed period.
Repayment
  • Maximum 180 Months. No holiday period.
Security
  • EM of house site to be purchased and the EM are to be registered.
Other Terms
  • For NRIs /PIOs Purchase of plot in rural areas is not permitted
  • Property should be properly protected  by fencing/compound walls
  • Property to be purchased should be in   a good, accessible, developed/developing area
  • Interest and installments repaid  will not rank for IT benefits

( अंतिम संशोधन Jul 24, 2020 at 07:07:54 PM )