Housing Loan Plus (HL +)

  • Purpose
  • Eligibility
  • Loan Amount
  • Margin
  • Repayment
  • Security

Purpose

Purpose

  • Meet domestic needs, medical/educational expenses to those who had availed Housing loan with the Bank.

Eligibility

Eligibility

  • Age between 18 Years to 65 Years
  • Borrower already having Housing Loan with our Bank with a/c run atleast for 1 year with satisfactory repayment.
  • –Nil- overdues in the existing Housing Loan.
  • Net take home salary shall not be less than 40% of Gross Salary.

Loan Amount

Loan Amount

Present market value of house property LESS

  • Margin of 25% on the present property value
  • The present outstanding in the Housing loan account
  • Minimum Loan amount: Rs.1,00,000
  • Maximum Loan amount: Rs.25,00,000

Margin

Margin

  • Nil

Repayment

Repayment

  • 120 Months. However, the entire loan shall be repaid before the borrower attains the age of 70 years.

Security

Security

  • EMT of the property already under Mortgage to bank under housing loan shall be continued by creating continue security mortgage with additional REMT.
  • Fresh SMT to be created for loan amount if Simple Mortgage was done for existing Housing loan.
  • Release of security is only on closure of both loans.