CONSTRUCTION / REPAIR & RENOVATION OF PROPERTY
RATE OF INTEREST OF LOAN AMOUNT UPTO RS.25 LAKHS: 8,50% p.a.
RATE OF INTEREST OF LOAN AMOUNT ABOVE RS.25 LAKHS: 8.90% p.a.
FEATURES
-
- Loan amount maximum Rs.70 lac in case of construction of Residential property and Rs.5.00 lac in case of Repair & Renovation.
- To be repaid in maximum 180 installments and EMI should not be more than 50% of monthly Income of Borrower.
- Loan amount should be disbursed in minimum 4 installments.
DOCUMENTS REQUIRED
-
- Legal report of property from bank’s advocate.
- Estimate Repair from approved Architect/ Contractor.
- Approved map of Property by Municipal Authority.
- Permission for construction from Municipal Authorities.
- All the Bills related to construction/renovation has to be submitted by the borrower after utilization of 1st instalment and before availing of next instalment.
- Property should be fully insured with all risks.
- Completion certificate from architect/contractor.
NOTE: RATE OF INTEREST GIVEN ABOVE ARE SUBJECT TO CHANGE