Maha Super Housing Loan Scheme : for Construction/Acquiring

1

Purpose

• For purchasing of new Residential unit (House, flat, Bungalow etc.) under construction /ready directly from the builders/ developers/society/other agencies/Development authority.
• For purchasing of old Residential unit (House, flat, Bungalow etc.).
• Construction of a residential unit in owned Plot /Land.
  • For extension (additional construction) in the existing house/flat
• Takeover of existing Housing Loan accounts of the applicants under standard category availed from other Banks / Housing Financial Institutions

2

Eligibility

1. Resident Indian Citizen  2. Non- Resident Indians (NRIs) or Persons of Indian Origin (PIOs) or Overseas Citizens of India  

3

Eligible Quantum of Loan

Maximum loan amount will be lowest of loan amount assessed on the basis of

• Permissible Deduction norms
• Maximum permissible LTV ratio
• Loan amount requested.

4

Loan to value and Margins Norms

5

Moratorium Period

Maximum 48 months. However interest may be capitalized for a maximum period of 18 months thereafter Interest to be serviced as and when applied

6

Repayment period

Maximum Repayment period of 30 years or on borrower reaching the age of 75 years whichever is earlier. 

7

Rate of Interest

Click here to view the Interest Rate

8

Deduction

For salaried individuals.

Up to 80% based on latest monthly income

For Non-Salaried Individuals

Up to 80% based on average annual income ​

9

Security

Equitable / Registered Mortgage of Property. 

10

Processing Fee

0.25 % of the loan amount (Subject to max. of Rs. 25,000/-)

Full waiver of Processing Fee for Govt. /State /Central Government / Public sector Employees in case of Takeover Loans

11

Inclusion of cost of Solar Photo Lightening System /Rooftop Solar plant

The cost of rooftop Solar Photo Voltaic System / Rooftop Solar plant may be included in the project cost
for arriving at the Home Loan eligibility for purchase / Construction / Extension (additional construction) of residential units
in respect of all applicants willing to install such system. The cost of consideration will be based upon the quotation received
from the authorized dealers/agencies