Purpose

For Purchase of built-up house/Flat /Construction/ Purchase of Plot and construction/ Extension/ Repair / Renovation.

Eligibility

• Permanent employees of Central/ State Governments / Public Sector Undertakings (PSU).
• Permanent employees of reputed Education Institutes as approved by the Bank

Age limit

       Minimum : 21 years

       Maximum: Subject to adjustment of loan before the age of

i. Employee without pension  – 60 years

ii. Employee with pension or NPS – 70 years

Quantum of Finance

       Minimum: Rs. 05 Lakh

       Maximum: Need based finance

Margin

1. i.) For Purchase of Plot only, offered / allotted by Govt. authorities and/ or Builders who are Bank’s borrowers:

2. ii.) For construction (plot already owned):

3. iii.) For purchase of plot and construction (project):

For purchase of plot: 30% of FMV of land / plot (In terms of Bank’s extant guidelines on valuation of property) upfront. Also ensure that finance for acquisition of land / plot shall not exceed 60% of the sanction limit of project (i.e. plot+ construction).

For construction

(loan amt. for ascertaining margin would be sanctioned limit for the project i.e. for plot + for construction)

4. iv.) For Purchase of Built up dwelling unit:

5. v.) For Extension / Renovation /Repair:

6. vi.)For Purchase of Flat from Society/ Builder:

Rate of Interest

Please click here For Rate of Interest

Period of Loan

Maximum 30 years subject to maximum age.

Prepayment charges

NIL

Processing Charges

Full Waiver of Processing Charges

Inspection Charges

NIL

Legal& Valuation Charges

 Charges related to Advocate, Valuer(1st & 2nd, if applicable)to be borne by bank

Security

Mortgage of the property financed.

Locker Rent Concession

50% concession on locker rent (small locker only) for self and spouse for first three years, who avail loan under this scheme.

Guarantee

1. Govt/PSU: Obtaining of Guarantee may be waived.
2. For Education Institute:

• In case of co-borrower: Obtaining of Guarantee may be waived.

In other case, Guarantee of spouse/ Major children or third party must be obtained.