House Repaires Loan Scheme
Eligibility:-
a) Repairs, alterations and additions to houses / flats by Individuals
Purpose
Housing Loan –(House Repairs)
Type of Advance
i) Housing Loan –(House Repairs)
Quantum of Loan
Maximum Amount up to Rs. 15 Lakh
Primary Security
Assets created out of loan amount –Flat / House- Mortgage with New Charge / additional charge
Guarantor
Two creditworthy guarantor
Repayment tenor
10 years
Rate of Interest
10 % p.a.
Processing Fee
1.50 % of loan amount
Valuation of Flat / House
If borrower has already taken housing loan from Bank, the existing loan amount & Flat/House repairs loan amount, consolidated should not exceed 80% of Total Valuation amount.
Certification
Obtained certificate/s from qualified engineers / architects in respect House /Flatrepairs
Prepayment Charges
No any prepayment charges
Disbursement
Direct payment to vendor as per house /flat repairs quotation
Insurance
Term insurance of key person
