HOUSING FINANCE For repair/Addition/Alteration/under Priority


i. Eligibility	Any individual member of the Bank.
ii. Type of Facility	Term Loans
iii. Limit	Up to maximum of ₹10.00 Lacs subject to repaying capacity of the borrower and also subject to the condition that it does not exceed 48 times of the monthly income of the applicant.
iv. Purpose	Repair / Addition / Alteration of existing house.
v. Rate of Interest	9.50% p.a., subject to change from time to time.
vi. Other Charges	As per Bank’s rules from time to time.
vii. Repayment	Repayable within a maximum period of 84 months.
viii. Sureties	Two sureties of good means as per bank’s discretion.
ix. Security	Equitable mortgage of freehold respective immovable property.
x. Documentation	All usual loan documents as per Bank’s rules.
xi. Other Conditions	Estimated cost of repairs/additions including materials, labor, and other costs is a pre-requisite. Borrower must submit proof of income such as ITR, Salary Certificate/Pay slip, or Affidavit. House should be in the name of the borrower or their spouse, parents, or parents-in-law (in case of female borrower). Undertaking from borrower that the total cost of the dwelling unit does not exceed ₹45.00 Lacs. Loan shall be given only in respect of properties meant for residential use.