Urban Low Income Housing
- Housing Loans up to Rs. 5.00 lacs to individuals having total monthly household income up to Rs. 15000/- (borrower and co-borrowers) in respect of units situated in Urban Areas.
- Housing Loans means loans to eligible individuals (borrower and co-borrowers) for construction of new dwelling units /acquisition/purchase of dwelling units /extension or up gradation or repairs of existing dwelling units.
* household income means the total income of the borrowers and co-borrowers taken together.
Quantum of Loan :
Tenure of Loan :
Minimum tenure of 5 years and maximum tenure of 15 years
Loan Cost Ratio :
- Direct Housing Loans not exceeding Rs. 5.00 lacs.
- Housing Loan for units situated in Urban areas.
- Individuals having total monthly household income*upto Rs. 15000/-
Loan will be restricted to 75% of the estimate of construction of new dwelling units / acquisition of dwelling units / extension or up-gradation or repairs of existing dwelling units
Installment to Income Ratio
- 45% at Branch leve
- Above 45% to 50% at RO Level
- Secured by mortgageable title over the land/property. the land title in the form of Patta allotted by State Governments can also be mortgaged under this scheme.
- There shall not be any requirement for seeking collateral security or guarantee from any third party as additional security.
To know the list of documents required for loan approvals
To know about the rate of interest, please contact our nearest branch offices