Housing Renovation Loan

  • For Repair / Renovation of Flat / House

Eligibilty

  • Salaried individuals, Businessmen, Self-employed professionals like Doctors, Engineers, Lawyers, Chartered Accountants, etc., Entrepreneurs.

Guarantee Requirement

  • Two guarantors with regular income & good net worth.

Margin

  • 20% of cost of work as specified in quotation

Max loan Permissible

  • Rs.5,00,000/- (Rupees Ten Lakhs Only)

Rate of Interest

  • 12.50% (For Existing customer?)
  • 13.00% p.a.(For New Borrowers)

Period

  • Maximum 10 years or unexpired period of housing loan whichever is lower.
  • Hypothecation of stock and Book Debts?Collateral min. 40% of Loan Amount -for new customer?Collateral min. 35% of Loan Amount -for existing customer

You may also be interested in