This is divided into two parts:-

• 1) Home loan with Overdraft Facility
• 2) Term Loan For Other Purposes ( like Repairs/Renovation of house , Refurbishing/furnishing of house, Purchase of new vehicle, Purchase of consumer durables/ furniture, Solar Energy equipment, Children marriage / education expenses, medical expenses, Family holiday , tour).

Part 1 : OVERDRAFT FACILITY FOR CENT HOME LOAN DOUBLE PLUS

Enable efficient management of cash flow. It helps in minimizing interest Burden while offering the flexibility to withdrawal at time of need.

PURPOSE

• For construction / acquiring of new or existing home/flat
• Extension of existing house.

ELIGIBILITY

• Individual salaried employees, self-employed persons, professional, any other person having a legal, identified and regular source of income.
• The applicant/s must be 18 years old (completed) as on the date of application.

QUANTUM & MARGIN OF LOAN

FOR SALARIED BORROWER

1. 90% of the cost for loans up to Rs.30 lakh,
   80% of the cost for loans above Rs.30.00 lakh to Rs. 75 lakh and
   75 % of the cost for loan above Rs. 75 lakh
   subject to EMI/NMI ratio norms.
   (cost above means of the cost of construction / purchase of new / existing house/flat or cost of extension of existing house/flat (including cost of land).
2. 75% of the cost of repairs/renovations/extension/alterations of existing house/ flat subject to a maximum of Rs.10.00 lakh subject to EMI/NMI ratio norm
3. 75% of the cost(registered value) ofPlot after complying with EMI/NMI ratio norm.
   Plot on standalone basis should not be financed.Cost of the Plot should not exceed 75% of the total cost of housing unit.

FOR NON-SALARIED BORROWER

1. 80% of the cost for loans up to Rs.75 lakh
   75% of the cost for loans above Rs 75 lakh
2. 75% of the cost of repairs/renovations/alterations of existing house/ flat subject to a maximum of Rs.10.00 lakh subject to EMI/NMI ratio norm.
3. 75% of the cost of extension of existing house /flat or cost(registered value) ofPlot after complying with EMI/NMI ratio norm .
4. Plot on standalone basis should not be financed.Cost of the Plot should not exceed 75% of the total cost of housing unit.

MORATORIUM PERIOD

• Moratorium period of up to 36 months.

REPAYMENT

.
• Repayment period of up to 30 years

Net take home criteria


Net annual income & repaying capacity of applicant based on EMI/NMI Ratio

1. Net Annual Income-wise graded ratio is as under

   Net Annual Income	EMI/ NMI Ratio (Maximum)
   <=Rs.1.20Lakh	20%
   >Rs.1.20L & <=Rs.3.0 Lakh	30%
   >Rs.3 L & <=Rs.5.0 Lakh	55%
   >Ea.5 L &<= Rs.8.0 Lakh	60%
   >Rs.8 L & <= 10 Lakh	65%
   >Rs. 10.0 Lakh	66.67%

   NMI (Net Monthly Income) = Gross Monthly Income (GMI) – all statutory deductions & taxes.
   (Excluding all existing and proposed EMI).
   EMI for the purpose of computing the EMI/NMI ratio will include all EMI towards existing loans and the proposed loan, therefore, existing EMIs should not be deducted from Gross Monthly Income (GMI) for the purpose of computation of NMI.
   Note : permissible loan amount will be assessed on the basis of the lower value arrived at from undernoted eligible criteria :
   Maximum permissible LTV Ratio
   and
   Permissible EMI/NMI Ratio.
2. Gross annual income should include only regular income from all sources. Windfall income or income of temporary nature like overtime, etc. should be excluded while arriving at Gross Annual Income, even if such income stream is regular.
3. The income stated by the applicants should be backed by documentary evidence.



Processing Charges

• 0.50% of the Loan Amount subject to maximum Rs.20,000/-

SECURITY

• Equitable mortgage (E.M.) of the residential property

GUARANTEE

• Condition of Guarantee is waived for salaried individuals irrespective of loan amount. In case of self-employed /others for loans up to Rs.20.00 lakh, no guarantee is required.
• However, wife, husband, father, mother, sister, brother may be taken as co-applicant instead of insisting for guarantor for loans above Rs.20.00 lakh to self-employed/others.

INSURANCE

• House / Flat / Property financed should be adequately insured.

Part 2 : Term Loan for Other Purposes RBLR

Purpose	Details
Repairs/Renovation of house / flat.	Those who are availing Cent Home Double Plus are eligible for renovation & repair after 3 years from last disbursement of Cent Home Double Plus and on regular repayment. For Extension of house/flat after 1 years from last disbursement of Cent Home Double Plus and on regular repayment. Margin : 25% Minimum Rs.1 lacs Maximum Rs.10 lacs RBLR Low Risk = 4.00+3.10=7.10 % Medium Risk=4.00+3.10+0.25= 11.35% floating & monthly rest.
Purchase of new Two wheeler/new four wheeler for personal use.	Only new vehicle is eligible for finance. RBLR Low Risk = 4.00+3.25=7.25 % Medium Risk=4.00+3.25+0.20= 7.45 % floating & monthly rest.
Refurbishing/furnishing of house	25% margin. Minimum Rs. 1 lac. maximum loan amount Rs.10 lacs. Maximum Repayment in 60 EMI starting from next month of disbursement. RBLR Low Risk = 4.00+3.40=7.40 % Medium Risk=4.00+3.40+0.25= 7.65 % floating & monthly rest.
Purchase of consumer durables/ furniture etc.	25% margin minimum Rs.1 lac. Maximum Loan amt Rs.10 lacs. Maximum Repayment in 60 months. RBLR Low Risk = 4.00+3.40=7.40 % Medium Risk=4.00+3.40+0.25= 7.65 % floating & monthly rest.
Solar Energy equipment	25% margin. Minimum 0.10 lac Maximum Rs.10 lac. Repayment: 36 months. RBLR Low Risk = 4.00+3.05=7.05 % Medium Risk=4.00+3.05+0.10= 7.15 % floating & monthly rest.
Children marriage / education expenses, medical expenses	25% margin. Minimum 0.10 lacs Maximum Rs.5 lacs. Repayment: maximum 36 months. RBLR Low Risk = 4.00+4.55=8.55 % Medium Risk=4.00+4.55+0.10= 8.65 % floating & monthly rest.
Family holiday , tour, travels	Margin 25%. Minimum Rs.0.10 lacs, maximum Rs.5 lacs. Repayment: maximum 24 months. RBLR Low Risk = 4.00+5.05=9.05% Medium Risk=4.00+5.05+0.10= 9.15 % floating & monthly rest.

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