| Purpose |
Purchase of plots and old or new houses or flats |
| Eligibility |
Individual(s) over 21 years of age with a steady
source of income, who:
1. Are Non Resident Indians (NRI) holding a valid Indian passport
2. Have been holding a job for at least 2 years in reputed organizations, in the government, or self-employed with a minimum NMI equivalent to Rs.15,000/- or
Net Annual Income (NAI) equivalent to 1,80,000/-
3. Persons of Indian Origin (PIOs) holding a foreign passport. |
| Amount of
finance |
Minimum: Rs.2.00 lakhs
Maximum: 48 times the NMI or 4 times the NAI
The income of the spouse is considered when:
i. Property is jointly held with the spouse and the spouse is a co borrower.
ii. Property is held singly with the spouse as a guarantor. |
| Margin |
20% For
Housing Loans to State, Central Govt& PSU employees.
For
Housing Loans to Others
25% Upto
Rs.30 lacs
30% Above
Rs.30 lacs
To purchase House Plot alone
35% Cost of the Plot including registration,
stamp duty etc.
For
furnishings/consumer durables as a part of the project cost
20% of
the cost of the estimation.
|
| Security |
Mortgage of the property purchased |
| Repayment |
10 years |
| Interest Rate |
Same as housing loans to residents |
| Processing charges |
Waived |
