Purpose: To purchase a plot of land/ an old house or flat/ construct a new house or flat/ repair or renovate/ furnishing or interiors of the house.
Who can apply: Individual(s) above 18 years of age with stable income, including from agriculture are eligible, and if the property holder has no income, a close earning relative may join as co-borrower for the loan.
Documents Required: KYC, income proof, property documents.
Interest Rate: RBLR (Repo Rate+ Spread) + CRP (Credit Risk Premium) ranging from 7.65 % to 8.90 % on the basis of CIC Score
Quantum of Loan/ Margin (LTV)
| Loan Amount | Home loan as percentage of Cost of Home/flat | Minimum Margin |
|---|---|---|
| Up to Rs.30.00 Lakh | 90% | 10% |
| Above Rs. 30.00 Lakh & up to Rs. 75 Lakh | 80% | 20% |
| Above Rs. 75.00 Lakh | 75% | 25% |
| For repairs / renovation / alteration of existing house /flat (Maximum Rs 25.00 lakh) | 75% | 25% |
| Purchase of Plot plus Construction | ||
| For purchase of plot | 75% | 25% |
| For Construction on plot | As per quantum of loan as above | |
EMI/NMI Ratio
| Net Annual Income | EMI/ NMI Ratio (Maximum) |
|---|---|
| <=Rs.1.20Lakh | 20% |
| >Rs.1.20L & <=Rs.3.0 Lakh | 30% |
| >Rs.3 L & <=Rs.5.0 Lakh | 55% |
| >Ea.5 L &<= Rs.8.0 Lakh | 60% |
| >Rs.8 L & <= 10 Lakh | 65% |
| >Rs. 10.0 Lakh | 66.67% |
Max. Loan Tenor:
Up to 30 years (or till borrower turns 75) for purchase/construction of house or flat
Up to 10 years for extension, repair, renovation of existing property.
Moratorium Period:
Up to Max. Of 48 months depending on the schedule of construction
Interest to be served during moratorium period (if above 18 months)
Purchase of plot cum construction: 24 Months with 1 year extension available for completion of house.
Security: Equitable mortgage of the residential property being financed
Processing Charges: 0.50% of loan amount plus GST subject to Max. INR 20,000/-
Documentation Charges: INR 1350/- + GST
Digital Cent Grih Laxmi
Purpose: To purchase an old home or flat/ construct a new house or flat/ repair or renovate or alteration of the home.
Who can apply:
Woman should be the sole borrower or first named borrower in loan
Name of female is must in property
Documents Required: KYC, income proof, property documents.
Interest Rate: RBLR (Repo Rate+ Spread) + CRP (Credit Risk Premium) ranging from 7.35 % to 8.50 % on the basis of CIC Score
**All other Terms & Conditions for Digital Cent Home Loan Scheme will be applicable**