• 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.

• Individuals, Group of individuals, and individual members of housing societies.
• 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.

• For loan accounts with multiple co-applicants, average of Credit Vision score of all the applicants contributing to repayment of loan to be considered and average CIBIL score / CIC score should be 790 and above.
• In case any applicant with insufficient credit history (–1, 3, 4, 5 or 101–200), the same to be ignored while calculating average CIBIL score.

• 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

• 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, flooring, 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 the purpose of calculation of LTV ratio, the cost towards fixture/interior etc. shall be added to project cost/value of property.
• Estimate for installing wardrobe, modular kitchen, flooring, fixtures, fittings, etc. to be obtained from the borrower.
• Further, disbursement to be made as per the demands raised by the borrower and should be in-line with actual progress of works relating to fixture/interiors.

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 may 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.

a. For Construction:
25% of the value of construction.

b. For Purchase of Built-up dwelling unit:
25% of the total value of property for loans.

c. For Purchase of Flat from Society/Builder:
25% of the total value of property.

d. 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. plot + construction). A declaration is to be obtained from the borrower that he intends to commence construction of the house on the said plot, within 24 months of availment of loan. Thereafter, the construction is to be completed within the next 24 months from the date of commencement. If the construction of the house is not completed within the specified period or plot is sold without commencing construction, additional 4% rate of interest will be charged over and above the applicable rate on the Home loan from the inception. Maximum loan amount shall be restricted to LTV Ratio as prescribed by RBI.

Calculated the lower of the following (i) & (ii)

Note: LTV ≤ 90 Agreement to sale is applicable for following cases:

• Ready to move / Resale properties / Flat
• Purchase of Flat from Society/Builder – Possession is within 6 months

a. 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.

b. 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.

c. In case of built up house: Repayment shall commence 3 months after the month in which the first disbursement is made.

(i) In case of Co-borrower: Guarantee waived.

(ii) In all other cases: Guarantee of spouse / Major children or third party to be obtained.

Note: Spouse/Parents/Brother/Sister/Major Children are eligible to become co-borrower under this scheme irrespective of their profession.