Housing Loan

PARAMETERS RESIDENT INDIANS NON RESIDENT INDIANS
Eligible borrower Individuals or group of individuals NRIs on regular employment or established business with regular income
Purpose Construction / Repair/ Renovation/ Extension/ Purchase of land / Flat / House for residential accommodation.
Maximum Funding 75 % of construction / purchase cost OR Loan Eligibility whichever is lower.
Tenure Upto 20 years Upto 15 years
Repayment holiday Maximum upto 12 months
Age ceiling

1. Salaried – Superannuation

2. Others – 65 years

3. Salaried – Superannuation (max 60 years)

4. Others – 65 years

Income Proof

SALARIED

1. Latest salary slip / certificate

2. Latest IT Return / Form 16

3. Latest bank statement – 6 months

SELF EMPLOYED

1. Latest ITR with computation for the last 3 years & financials

2. Latest bank statement – 6 months

SALARIED

1. Latest salary slip OR certificate attested by Embassy / Employer along with operating international bank account wherein the salary is getting credited.

2. Employment Contract

    a.Valid work Permit

    b.Copy of Visa stamped on Passport with entry / exit seal.

    c.A brief profile of the employer

SELF EMPLOYED

1. Evidence of income (financials) duly attested by Sponsor

2. Operating international bank account and NRE Bank account statement for the last six months.

3. A brief profile of the business.

Security Mortgage of land and building to be constructed / purchased.
Documents required

1. Title deed, prior deeds and connected village & revenue records

2. Estimate, approved plan and building permit required for construction loan.

3. Sale agreement is required for property purchase loan.