Purchase of New House/Flat

Purpose
The purpose of the scheme is to provide credit for the purchase of a ready built house with site( 5- 7 cents land)/flat.

Eligible Borrowers
Individual/Groups

Quantum of Loan
It depends upon the area of the house to be purchased and the repaying capacity of the borrower. The maximum loan amount is up to Rs. 25 lakhs.

Margin
The margin will be a minimum of 25% of the agreement price

Repayment of Loan
Maximum up to 15years with out grace period.

Security & Valuation
Landed security in accordance with the guidelines issued by the RBI/NABARD/RCS

Rate of Interest
Loan Amount    Up To    -    25,00,000    ::    11.50     %