House building loan
Who can borrow a loan ?
1. Applicant and the guarantor should be A Or B class member of bank.
2. Applicant and landlord should be repayable in repayment terms.
Loan Amount: -
The individual ceiling of loans will be decided from time to time by the Reserve Bank of India and the Board of Directors.
Loan mortgage :-
1. House building / flat purchase / home repair
2. Maximum Loan Limit - The maximum value of home valuation is 70%.
3. Repayment period (maximum) - will be 15 years (180 months).
4. Interest Rate 13% and penalty interest is Rs. 2% will be charged. The Board will have the right to change the interest rates according to the Reserve Bank's policy and the Board of Directors from time to time.
5. The interest rate for employees and monthly payers will be 11%
Buying Old Home: -
1. Maximum Loan Limit - The maximum value of house value is 50%.
2. Repayment period (maximum) - will be 12 years (144 months).
3. Interest Rate dd.c. 13% and penalty interest is Rs. 2% will be charged. The Board will have the right to change the interest rates according to the Reserve Bank's policy and the Board of Directors from time to time.
Drava (margin): -
1. 30% for the new house and 50% for old house / house construction will be maintained and the amount of dues should be deposited in savings / operative accounts.
2. 70% loan of house building construction will be sanctioned.