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.

  • Shareholding: 2.5% of loan amount .

  • 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.
    • Collateral 100% of Loan Amount and sub limit of Housing Loan

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