• Resident individuals having steady source of income –Salaried Class, Businessman, Professional & Self-employed people, and Pensioners having adequate income to service the loan can also avail Home loan on selective basis
• 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

• Who have put in a minimum period of service /experience of 3 years( including previous  employment/experience and confirmed in the present  employment)

• Minimum entry age is 18 years and maximum exit age is 70 years

• The entry level barrier as per extant guidelines shall be “BBB”.

• Any two of the four (CIBIL/EXPERIAN ,CRIF HIGHMARK /EQUIFAX ) report to be obtained and verified to ascertain the past credit history of the Applicant.

• to purchase / construct a new house / flat
• to purchase house site and construction house thereon
• to purchase an existing house / flat
• to extend an existing house/ additional construction
• to repair / renovate an existing house / flat
• to take over Home Loans from other Banks / Housing Finance Institutions approved by National Housing Bank for Housing Finance#
• For reimbursement of cost incurred within a period of 6 months for purchase/construction of house/flat met from own resources during the preceding six months #

# Conditions Apply.

However, reimbursement is not permitted for purchase of Plot

As on date of Application, if the Age of the Borrower/ Co-Borrower is less than 45 years

• In case of salaried class, the loan amount will be restricted to 72 times of monthly Gross salary/income.
• In case of others, the loan amount will be restricted to 6 times of Gross Annual income as per ITR/Audited financials

As on date of Application, if the Age of the Borrower/ Co-Borrower is  45 years and above

• In case of Salaried class, the loan amount will be restricted to 60 times of monthly Gross salary/income.
• In case of others, the loan amount will be restricted to 5 times of Gross Annual income as per ITR/Audited financials.

In case of Joint Borrower’s , the number of times of loan eligibility shall be calculated based on each Individual applicant’s Age.

While computing the  above , 60 % of the rental income from the property  to be purchased /constructed /owned by the applicant can also be included for eligibility calculation.

• In case Annual income of the Applicants (Individually or jointly) is up to Rs.15.00 lakhs, NTHP (after proposed loan EMI) should not be less than 40 % of the Gross Annual Income.
• In case Annual income of the Applicants ( Individually or jointly) is  more than  15.00 lakhs, NTHP ( after proposed  loan EMI) should not be less than 30 % of the Gross Annual Income subject to  the minimum Annual Take Home pay of Rs.6.00 lakhs.

• Up to Rs.30 lakhs : 10% and LTV 90 %.
• Above Rs.30 lakhs up to Rs.75 lakhs : 20% and LTV 80%
• Above Rs.75 lakhs: 25% and LTV 75 %
• For Repairs and Renovation: 30%

• As communicated by corporate office from time to time.

• As communicated by corporate office from time to time.

• The  repayment is restricted to maximum  30 years ( including Holiday period) or up to the Age of 70 years ( the age by which the loan should be fully repaid) of the Borrower whichever is earlier.
• Maximum repayment period for Repairs and Renovation: 120 months.

{Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located }CERSAI Registration (at applicant’s cost) to be done

• Completed Application Form with 3 passport size photograph.
• Assets and liabilities statement in the Bank’s format from applicant(s), Co-applicant(s) and guarantor(s).
• Proof of Identity such as PAN Card / Aadhar card /Voter’s ID/Passport/Driving License.
• Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport /Aadhar card/ Voter`s ID.
• Proof of business address in respect of businessmen / industrialists.
• Proof of Employment for salaried class.
• Salary slips generally for the last 6 months.
• Statement of Bank account of the applicant(s) for a reasonable period, say 6 months/12 months for verifying salary credit/other income/nature of transaction etc
• Proof of other income like rent, interest on investment, if any.
• ITR and Balance Sheet for the past three financial years in the case of Professionals, Businessmen and Self employed.
• A brief note on the nature of Business/Service, year of establishments, constitution, securities charged in respect of loans availed from our Bank/other Branches /Bank.FI /other sources.
• Form16/Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
• Agreement of Sale / Sale Deed.
• Approved Building Plan.
• Title Deed Documents for 13 years/30 years as the case may be.
• Proof of title in the Revenue Records.
• Property Tax receipts wherever applicable (Up-to-date EC, Legal Opinion from Advocate & Valuation of property from Engineer will be arranged by Bank at applicant`s cost).
• Two independent valuations and Legal Scrutiny Reports are required for Home loans exceeding Rs.1.00 Crore.

• At the option of the applicant, Group Insurance Life Cover is arranged at concessional premium (to be borne by the Applicant).
• The Premium amount will be financed as a separate loan instead of financing as a part of the loan.

• Property (offered as security) to be insured at borrower`s cost with Bank clause against fire, flood, earthquake, riot and other risks, which are normally covered by insurance companies

• Permitted only for completed Building and Possession of the Building is taken over by the applicant.
• Should have repaid a minimum of 12 EMI regularly from the date of commencement of EMI.
• All the Securities with the existing Bank/FI should be made available to us.
• Other Terms and Conditions apply.

 However Take over is not permitted loan accounts  from Co Operative Societies .