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 theater 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, September 6, 2008
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