• Purchase of new/under-construction/ready-to-move residential property (flat/bungalow/villa).
• Construction of residential house on owned plot.
• Takeover of existing housing loans from other banks/FIs.
• Purchase of residential plot and Construction.

• Resident Indian are eligible.
• Salaried/Self-employed/Professionals/Businessman.
• Salaried individuals and corporate professionals like Board-level Directors, Entrepreneurs of reputed companies, businessmen and Self-employed individuals like Doctors, CAs, Lawyers, Architects with established practice etc.
• CIC score (Credit Vision Score) should be 790 and above.

✤ Minimum: 18 years

✤ Maximum: Subject to adjustment of loan before the age of:

• Service class non pension - 60 years
• Service class with pension or NPS* - 70 years
• Others – 70 years

*NPS: The employee is required to maintain his/her salary account with our bank. An undertaking from the employee must be obtained that the NPS lump sum withdrawal and NPS annuity must be credited to the said saving account (salary).

✤ In case younger Co-borrower (only spouse/major children) is proposed having 50% or more contribution towards IIR (Installment to income ratio), the eligibility criterion w.r.t. age of the younger Co-borrower may be considered.

✤ For Purchase of residential plot and construction/Purchase of built-up dwelling unit/Purchase of flat from Society/Builder/for Construction:

• Minimum: Rs.100 Lakh
• Maximum: Need based finance

Cost of fixture/Interior:

The Bank can finance 15% of the cost of the house/flat or Rs.50 lakh, whichever is lower as a part of Housing Loan towards fixtures/interior viz. wardrobe, modular kitchen, floorings, fixtures, fittings, etc. The loan shall be sanctioned along with housing loan; however, disbursement to be made as per the demands raised by the borrower and should be in-line with actual progress of works. Finance under this scheme shall not be used for purchase of items such as furniture, TV, Refrigerator etc.

• 15 % of the cost of the house/flat or Rs.50 lakh, whichever is lower.
• However, the maximum loan amount will be restricted to the stipulated LTV Ratio.

For Salaried Class:

In case of salaried class, permanent employees, the sanctioning authority may consider obtaining ITR/Form 16 for last one year only. However, the repayment capacity to be derived from the latest salary slip.

For Self–employed/Businessman/Professionals:

The sanctioning authority to consider obtaining ITR for 3 years for income analysis, eligibility check and consistency of earnings. However, the repayment capacity to be derived from the latest balance sheet (Audited/CA certified). Depreciation as per CA certified Balance-sheet may be added back to net profit to arrive at the annual income of the proposed borrower.

Note: Any arrear one time or benefits which are non-regular in nature, should be subtracted from the salary slip while calculating the repaying capacity. Further, deductions which are not in regular or voluntary in nature not to be considered as regular deduction.

1. For construction: 25% of the value of construction
2. For Purchase of Built up dwelling unit: 25% of the total value of property for loans
3. For Purchase of Flat from Society/Builder: 25% of the total value of property
4. For purchase of plot and construction (project):

   For purchase of plot: 30% of FMV of land / plot 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: 25% of the value of construction, proportionate for loans 100.00 lakh and above (loan amt. for ascertaining margin would be sanctioned limit for the project i.e. for plot + for construction).

1. In case of construction/purchase of plot and construction: The repayment to commence within 24 months after the date of first disbursement of loan. However, moratorium period not to exceed 6 months after the date of last disbursement in any case.
2. In case of members of Co-operative Housing Societies/Builders flat/apartment: The moratorium period of up to 36 months after first disbursement of loan or completion of society/Builder’s flats whichever is earlier is allowed in deserving cases. However, moratorium period not to exceed 6 months after the date of last disbursement in any case.
3. In case of built-up house: Repayment shall commence 3 months after the month in which the first disbursement is made.

1. (i)In case of Co-borrower: Guarantee waived.
2. (ii)In all other cases: Guarantee of spouse, Major children to be obtained, if available.

Note: Only spouse/major children are eligible to become co-borrower under this scheme irrespective of their profession.