| ● |
For purchase /construction of residential building in India or for repair/renovation of existing houses |
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Joint loan with close relatives of NRI also considered |
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Eligibility |
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| a) |
20 times of monthly salary |
| b) |
Maximum 80% of construction or purchase cost – maximum INR 50 lacs |
| c) |
Maximum INR 5 lacs for repair and renovation |
| d) |
Minimum monthly income of applicant should be INR 10000 | |
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epayment period - Maximum 180 Equated Monthly Instalments (EMIs) for construction/purchase and 60 EMIs for repair/renovation |
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If property is let out on rent, entire rental income should be paid to the loan account |
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Repayment by close relative in India permitted |
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Holiday period for repayment 6 months for acquisition, 12 months for construction and 3 months for repair/renovation |
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Mortgage of property as security |
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Processing fee applicable |