A scheme for Bank’s existing housing loan borrowers who are regular in repayment of loan.
Purpose
Refurbishment / renovation /furnishing of house or buying furniture /LCD TV/ Home theatre etc.
Eligibility
Existing Borrowers under Direct Housing Finance Scheme having completed minimum 3 (three) years of repayment schedule without any default.
Quantum of Loan
Depends on value of property mortgaged and amount outstanding in housing loan account, subject to maximum of Rs.5.00 lakhs.
Margin
15 % on the value of property at the time of sanction or present value whichever is lower.(including outstanding housing loan balance)
Rate of Interest
Click here to view Interest Rates
Security
Extension of mortgage on the House property for which Housing Loan was sanctioned.
Repayment
The loan has to be repaid in 60 equal monthly installments.
Processing Fee
Rs.500/-
Saturday, August 30, 2008
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