Loan against Self Occupied Property for Personal needs
Facility Term Loan/OD Facility
  • Individuals in the age group of 18 - 65 years owning Unencumbered self-occupied residential property/ commercial property /or building in his/her own name for a period not less than 1 year
  • Permanent Employees of Central/ State Govt./ Public Sector Undertakings (PSUs) (including Schools/Colleges/ Educational Institutions), Reputed Companies /MNCs, Individual Businessmen, professionals and Self employed individuals having minimum 2 years standing.
  • Loan against third party property, open Plot, Property on Rental is strictly prohibited.
  • The loans should not be used for speculative purposes
Minimum Annual Income
  • Rs.5.00 Lakh (Last 2 years Average income) - Minimum past 2 year ITR/Form 16 is Mandatory.
  • Close relative/s (son, daughter, sister, brother, along with the spouse) may join as co applicant/s for supplementing repayment capacity. However, maximum of two co- applicants can join to supplement repayment capacity.
  • Cash accruals/Depreciation also may be added to income, in case of borrowers other than salaried class.
Purpose For meeting personal needs
Loan Quantum
  • Based on repaying capacity and subject to the ceilings given below.
  • Minimum :- Rs.2.00 lakh
  • Maximum : -
  1. Properties located at Metros :- Rs. 3.00 Crore
  2. Properties located at other centres :- Rs.1.00 Crore
Margin 40% of the Realizable value of the property
ROI 1 Year MCLR + BSS @ 0.25% + 1.25%
Repayment Maximum Repayment period of 7 years or on borrower reaching the age of 75 years whichever is earlier.
Deduction Should not exceed 60% of gross monthly salary/ gross annual income
Security Mortgage of the property
Processing fee, Document and Other charges Processing fee @ 0.50 % and Document charges @ 0.10% on the loan amount
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