| Purpose |
To provide financial assistance to our existing customers for meeting their emergent consumption or medical needs arising due to COVID-19 pandemic. |
| Eligibility |
All existing standard housing loan accounts where security charge has been completed in favour of the Bank and repayment has been started and no further disbursement in Housing Loan is required. |
| Quantum of Finance |
For salaried: 10 times the latest monthly gross salary income. For others: 60% of latest annual income based on ITR. Maximum : Rs.3.00 lakh |
| Repayment |
Repayable in maximum 36 Equated Monthly Instalments (EMI) after a moratorium period of 06 months from the date of disbursement of the loan. However, the repayment is fixed in such a way that the loan is fully adjusted 03 months prior to the closure of housing loan. Interest to be served as and when applied. |
| Margin |
NIL |
| Interest Rate |
9.00% p.a. OR as may be prescribed from time to time with monthly rests. |
| Security |
Negative lien on the property mortgaged in the Housing loan & Co-applicants/ guarantors of existing housing loan. |
| Processing Fee |
NIL |
For more details contact your nearest Branch of JKGB
*Terms & Conditions apply.