Purpose

To offer additional amount of loan to the existing housing loan borrowers to meet their various personal requirements arising from time to time.

Eligibility

a. Property financed should have been completed and taken possession of.

b. The borrower should have a minimum repayment record of:

    i. 6 months – For Govt/PSU employee where salary account with our Bank.

    ii. 12 months- For Govt/PSU employee where salary account is not with our Bank.

    iii. 24 months – For all other cases.

Quantum of finance

   i. Term Loan- Maximum Rs. 2 Crore*

   ii.Overdraft- Maximum Rs. 50 lakh

   iii.Composite facility- Maximum Rs. 2 crore*

*If CIBIL is 800 & above, maximum quantum of finance shall be Rs.5 Crore, subject to maximum OD limit of Rs.50 Lakhs

Rate of Interest

Please click here For Rate of Interest

Repayment

i.Term Loan:
Maximum 10 years
The loan to be repaid by EMI during the currency of the existing Housing Loan of maximum in 10 years whichever earlier.

ii.OverDraft
   a. Interest in the account would be served on monthly basis with monthly rests.
   b. No fresh OD should be allowed one year prior to adjustment of the Home loan account. In case there is any outstanding in the OD account at the time of closure of the Home Loan account the same     would be transferred to Term Loan (housing) and would be recovered within a period of 36 months.

Prepayment charges

NIL

Processing charges

One time, @ 0.15% on the loan amount + GST, subject to minimum of Rs. 1000/- + GST and maximum of Rs. 3750/- + GST.

Security

Extension of charge on the property already charged to the Bank under the existing Housing Loan facility.

Documentation Charges

Actual Charges