1) Home Loan - Purchase of New House/ Construction of New House
Who can apply?
- Home loan can be availed in individual or joint capacity. All owners/ proposed owners of the property will have to be co-applicants.
- All applicants to be Indian Residents. NRIs, PIOs will not be eligible.
What will be the Term of the loan?
- Maximum period for repayment of loan shall be up to 240 months/ 120 months depending upon customer's profile, age of customer at time of maturity of loan and age of property at the time of maturity of loan.
What is maximum loan possible?
- Applicants can avail maximum loan of up to 80% of market value of the property being acquired or of the cost whichever is lower, subject to individual eligibility as assessed by MAHOFIN.
What will be the Rate of Interest?
- The Rate of Interest will range from 14% to 18% per annum