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Griha Prakash (Home Purchase)
| Loan Amount |
Min. Rs. 100,000 - Max.Rs.1,50,00,000 |
| Loan to Property Cost |
80% of total Cost of the property including Stamp Duty and Registration Charges. |
| Loan Term |
Up to 25 Years or Retirement Age or 60 years of Age, whichever is earliest. |
| Repayment Mode |
Equated Monthly Installments(EMI) - Monthly Rest Basis |
| Security |
1. Equitable Mortgage of House/Flat OR Deposit of Title Deeds |
| Risk Cover |
Any existing or new policy under any acceptable plan of insurance (issued by LIC of India) on the lives of the applicants, having risk cover to the extent of loan amount. |
| Front End Charges |
0.5% - 1.00% of Loan Sanctioned. |
Loan for Purchase of Vacant Plots/Sites
| Loan Amount |
Min Rs.100,000 Max Rs. 100,00,000 |
| Loan to Property Cost |
75% of the Registered Value in case of resale. |
| Loan Term |
Up to 10-15 Years or Retirement Age, or 60 years of Age, whichever is earliest. |
| Repayment Mode |
By Equated Monthly Installments (EMI) - Monthly Rest Basis. |
| Security |
1. Equitable Mortgage of House/Flat OR Deposit of Title Deeds. |
| Risk Cover |
Life Insurance Cover is not required but advisable in the interest of the Applicants. |
| Front End Charges |
0.5%-1.00% of Loan Sanctioned. |
Griha Prakash (Home Construction)
| Loan Amount |
Min Rs.100,000 Max Rs. 100,00,000 |
| Loan to Property Cost |
75% of the Registered Value in case of resale. |
| Loan Term |
Up to 10-15 Years or Retirement Age, or 60 years of Age, whichever is earliest. |
| Repayment Mode |
By Equated Monthly Installments (EMI) - Monthly Rest Basis. |
| Security |
1. Equitable Mortgage of House/Flat OR Deposit of Title Deeds. |
| Risk Cover |
Life Insurance Cover is not required but advisable in the interest of the Applicants. |
| Front End Charges |
0.5%-1.00% of Loan Sanctioned. |
Griha Sudhar (Home Repair)
| Loan Amount |
Up to Rs.10,00,000 |
| Loan to Property Cost |
Not exceeding 80% of Cost of Repairs or 25% of Market Value of Property, whichever is lower |
| Loan Term |
5 to 15 Years, or Retirement Age, or 60 years of Age, whichever is earliest. |
| Repayment Mode |
Equated Monthly Installments (EMI) - Monthly Rest Basis. |
| Security |
1. Equitable Mortgage of House/Flat OR Deposit of Title Deeds |
| Risk Cover |
Life Insurance Cover is not required but advisable in the interest of the Applicants. |
| Front End Charges |
1.00% of Loan Sanctioned. |
Griha Prakash (Home Extension)
| Loan Amount |
Up to Rs.10,00,000 |
| Loan to Property Cost |
Not exceeding 80% of Cost of Repairs or 25% of Market Value of Property, whichever is lower |
| Loan Term |
5 to 15 Years, or Retirement Age, or 60 years of Age, whichever is earliest. |
| Repayment Mode |
Equated Monthly Installments (EMI) - Monthly Rest Basis. |
| Security |
1. Equitable Mortgage of House/Flat OR Deposit of Title Deeds |
| Risk Cover |
Life Insurance Cover is not required but advisable in the interest of the Applicants. |
| Front End Charges |
1.00% of Loan Sanctioned. |
Common Document Requirements for All Applicants
- A completely filled application form
- An authorized letter and copy of approved plan
- Copy of ULC clearance certificate or a NA consent, whichever is applicable
- A guarantor form along with the guarantor’s salary proof as per LIC format if guarantor is employed or copy of IT return in case the guarantor is business person.
- Updated Bank Pass book stating last two years statements or a Power of Attorney whichever is applicable.
Additional Requirements - For Salaried Persons
- Latest Salary slip along with employers salary structure in LIC format
- Identity proof, PF slip and TDS record of applicant
Additional Requirements -For Businessmen / Self-employed
- CA certified 3 years IT returns
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