All Existing Home Loan Borrowers including NRIs /PIOs, Staff and Ex-staff Members( availed home loan under public scheme as well as Staff Housing Loans) whose Asset classification is Standard
Unified Processing Charges
Minimum- Rs.15000/- & Max. Rs.50000/-
By Equated Monthly Installments (EMI). First installment to fall due one month after first disbursement
Minimum Rs.1 lac, Maximum Rs.200 lac Or 75% of Residual Value of House Property after deducting 150% of outstanding loan amount of Existing home Loan whichever is lower.
Any purpose other than Speculation (No Change)
25% of Residual Value of House Property after deducting 150% of outstanding loan amount of Existing home Loan.
21 years (applicant),18 years (co-applicant)
- Age of the borrower + tenure of AAA Loan should not exceed 70 years as per laid down norms mentioned under Home Loan Product (For Resident Indian)
- Age of the borrower + tenure of AAA Loan should not exceed 65 years (For NRIs /PIOs /OCIs)
As per request of the borrower subject to repayment capacity. However the maximum period should not be more than the remaining period of Home Loan.
Extension of Equitable Mortgage
Property Insurance Cover with Personal Accidental Death Insurance Cover under Tie-up arrangement with NICL and additionally Group Credit Life Insurance Cover (Optional and at the cost of Borrower)
Total deductions including proposed EMI should not exceed as follows
|GMI less than Rs.20,000/-
|GMI Rs.20,000/- and above but less than Rs.50,000/
|GMI Rs.50,000/- and above but less than Rs.2.00 lacs
|GMI Rs.2.00 lacs and above but less than Rs.5.00 lacs
|GMI Rs.5lacs and above
- Average Gross Annual Income (For last -2- years) up to Rs.6 lacs:70%
- Average Gross Annual Income (For last -2- years) more than Rs.6 lacs: 80%.
Valuation Norms for the property to be mortgaged
Valuation norms will be as under
- If the property is purchased within last 5 years, the registered value to be accepted as value of the security. After five years of the execution of sale deed, fresh valuation from approved valuer may be accepted to the satisfaction of the sanctioning authority.
- In all other cases present market value to be accepted as value of security subject to the condition that present valuation to carried out only after three years of previous valuation.