All personal needs and not for speculative, real estate/capital market activities or any activity prohibited by law.
Term loan facility against mortgage of immovable property already mortgaged in the Housing loan facility sanctioned to the applicant, located in Metro /Urban / Semi Urban & Rural Centres, where HL account has always been Standard Asset.
Individuals, singly or jointly who have HL accounts with us. NRI jointly with relative/s as defined in loan policy. The Relative should be Resident citizen of India.
Nature of Facility:
Quantum Of Loan:
Minimum Rs. 2 lakh & Maximum Rs.50 lakh
The property mortgaged in Housing loan is to be taken as primary security with extension of charge to cover the new facility also.
Rate Of Interest: REPO BASED LENDING RATE w.e.f 30.05.2020
RBLR = REPO + SPREAD+ CREDIT RISK PREMIUM
TOPUP FACILITY TO HOME LOAN BENEFICIARIES up to Rs 10 lakh
Low Risk category : REPO+ 3.90 % + 0.00 % = 7.90 %
Medium Risk Category : REPO+ 3.90% + 0.20% = 8.10%
TOPUP FACILITY TO HOME LOAN BENEFICIARIES above Rs 10 lakh -Rs 50 lakh.
Low Risk category : REPO+ 4.40 % + 0.00 % = 8.40 %
Medium Risk Category : REPO+ 4.40% + 0.20% = 8.60%
( REPO RATE 4.00%)
0.5% of loan amount at the time of first sanction, Maximum Rs.10,000.00