DNSB Chaitra Palavee Gruh Karja Yojana Branch

1

Purpose

i) To purchase flat/ Bungalow/ Residential accommodation

ii) To construct of house along with purchase of N.A plot

2

Quantum of Loan

Maximum up to Rs.70.00 lakh

3

Margin

5% margin for first Purchase of flat in New Building/Row House/Bungalow

15% for purchase of a flat / house under Resale

20% margin for construction of bungalow

4

Rate of Interest

For Take Over of Housing Loan above mentioned ROI will be applicable.

Ø  ROI for Housing Loan, more than 2 dwellings will be @8.95% p.a.

5

Repayment period

For new flat / house, 20 years repayment period

For resale flat / house up to 10 years old, repayment period of 20 years. Valuation Report from our paneled valuer to be obtained for resale flat in the building older than 2 years.

For resale flat/house older than 10 years, repayment tenure of 20 years will be

given after taking Structural Stability Report from empaneled Structural Engineer & if estimated future life of the property is more than 25 years,

If estimated future life of the property is less than 25 years, repayment tenure to

be stipulated as certified by empaneled Structural Engineer or 15 years whichever is less

6

Moratorium Period

Moratorium period to be given till the completion of construction or maximum up

to 18 months from the date of disbursement of first installment of the loan, whichever is earlier be granted.

7

Documents Required of Borrower & Guarantor

1.  KYC Documents (Pan Card & Aadhar Card)

2.  Income papers viz. for business person copy of last 3 years ITRs & for salaried person copies of latest 3 month’s salary slip & Form No. 16/ITRs for last 3 years

3.  Bank Statement for last 6 months

4.  Sanction letter & Statement of all loans availed from the date of disbursement to till date

8

Guarantors

Housing Loan may be sanctioned without third party guarantee if the applicant’s residual Income is at least Rs.20,000/- including EMI of Proposed Housing Loan. Otherwise One guarantor will be taken. Guarantors can be an earning family

member of applicant.

10

Processing charges

NIL

11

Consolidated Charges