Housing Loan

ELIGIBILITY: Individuals having stable source of income, owning or proposing to own house property singly or jointly, belonging to any of the following categories:

. Permanent employee of State / UT / Central Government, Government / Semi- Government Undertakings, Autonomous Bodies and Govt Institutions.
. Employees of Pvt/Public Ltd Companies with a minimum of 2 years of cumulative service and minimum 06 months service with current employer.
. Professionals/ Businessmen/ Traders/ Contractors and Self-employed persons like Doctors/ Engineers/Architects/ Chartered Accountants/ Advocates etc. with a minimum standing of 2 years.
. Persons engaged in agricultural and allied activities (Farmers/ Orchardists, etc.)
. Pensioners State/UT/Central Government, Government/Semi-Government Undertakings, Autonomous Bodies and Govt institutions, drawing their monthly pension from our bank or other banks.


Age of the Borrower/s:

Minimum age 18 years

Quantum of loan: Actual loan amount will be determined by taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house etc.

  • For Construction/ Purchase of built House/ Flat- 72 months net salary/ income OR Rs75.00 lakh, whichever is lower. For pensioners, the maximum eligible loan amount shall be 36 times the net monthly pension.
  • For carrying out Repairs/ Renovation/ Alteration to the house: Maximum: 36 months net salary/ income OR Rs30.00 lakh, whichever is lower.
  • For carrying out Addition/ Extension which is not acquired by bank finance OR where loan has been liquidated/ adjusted: Maximum: 72 months net salary/ income OR Rs50.00 lakh, whichever is lower subject to the condition that the addition/ extension is done after obtaining valid permission from the competent authority.
    However, borrowers having existing Housing loan facilities with our Bank can avail addition/ extension without liquidation.
  • For purchase of a plot of land for construction of dwelling house: Rs.50.00 lakh OR 75% of the cost of plot of land, whichever is lower. The loan amount for purchase of plot shall be within the overall ceiling of Housing loan eligibility and in no case should surpass 60% of total Housing loan eligibility. Maximum size of plot of land to be purchased shall not exceed 1 kanal.


Particulars Margin
A. For Construction/ Purchase of Built House/ Flat
Loans under Priority Sector 15%*
Loans up to Rs.50.00 lakh (falling under Non-Priority Sector) 20%
Loans above Rs.50.00 lakh 25%
B. For Repairs/ Renovation/Alteration/ Extension/ Addition of Existing House 20%
C. Purchase of Plot 25%

*10% for borrowers with CIBIL TU >750 and/or CRIF Perform Consumer Score>651

Margin to be brought in on proportionate basis at the time of each disbursement.


I. For loans upto ₹2.00 lakh:
Primary: Negative Lien on house property with power of attorney to sell the same in case of default.
Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for the loan amount.

II. For loans above ₹2.00 lakh:
Primary: a) Mortgage of land/house property/flat to be constructed/purchased. The title of the property must be clear, marketable and free from encumbrance (not applicable to properties already charged against existing facilities)
b) Collateral Security: 3rd party guarantee of one person of sufficient means to withstand the liability and acceptable to the Bank.

Repayment: The tenure of the loan including moratorium could extend upto a maximum of 30 years with door to door tenor restricted to:

a) For salaried employees under old pension scheme: Upto 30 years or till the borrower attains age of 75 years, whichever earlier.*
b) For salaried employees under NPS: Upto 30 years or till the borrower attains age of superannuation, whichever is earlier.
c) For pensioners: Till the pensioner attains age of 75 years.
d) For all other categories of borrowers: Upto 30 years or till the borrower attains age of 70 years, whichever earlier.


Processing Charges:

Processing charges: 0.25% of Loan amount + applicable GST
(50% concession in processing charges for female borrowers (Sole/Joint Borrowers)

*Conditions Apply