To become a household name for Housing Finance in
middle income groups.

Our Mission

Help more and more people to own their home.
We strive for quick and prompt service.

Housing Loans

Housing loans are provided to individuals, corporates, firms, associations, societies at very competitive rates of interest. The purpose of loan could be varying from construction/purchase of a house/flat, renovation, repairs, upgradation / extension to purchase of a plot for construction at a later stage. Tenure of the loan ranges from 2 years to 15 years. Loan tenure permitted upto 20 yrs. with additional 0.25% increase on card rates for pure housing loans (for loans other than RHF & UHF loans). Term 20 years to RHF loans permitted with group insurance cover. It also considers loans against mortgage of residential/commercial properties at selected centres.

The company provides finance for builders, developers etc. at reasonable rate of interest and also selectively entertains proposals for construction / purchase of commercial complexes

The salient features of the company's schemes are:

competitive rates of interest
easy terms
hassle free formalities
simple procedures
quick sanctions and disbursements
friendly and warm customer service
long lasting relationship


Norms for sanctioning housing loans:
. Installment income ratio (IIR) 40 - 50%
. Loan to cost ratio (LCR) 75%
. Generally 2 guarantors
. Collateral securities of immovable properties, Fixed Deposits, LIC Policies, NSCs etc wherever possible

Preferred Profile of the borrowers (in the order of preference):

Salaried class
Professional & self employed
Established businessmen


Pricing Grid
(RPLR - 15.50% wef 01/11/2017)

Formal Profile Customers
(Bank Credit Salary & PAT Method)

Sr. No.

Product

 

Salaried

Self - Employed

1

All HL Products (Except Plot +
Construction)

 

11.25%

12.00%

 

2

 

Plot + Construction / Plot Loan

Development
>25%

12.25%

13.00%

Development
<=25%

13.25%

14.00%

Informal Profile Customers
(All Other Profile - like Cash Salary, Surrogate, Low LTV, Multiplier ...)

Sr. No.

Product

 

Salaried

Self - Employed

NIP

3

All HL Products (Except Plot +
Construction)

 

12.00%

13.00%

13.75%

 

4

 

Plot + Construction / Plot Loan

Development
>25%

13.00%

14.00%

14.00%

Development
<=25%

14.00%

15.00%

15.00%

Refinance

Sr. No.

Product

 

Salaried

Self - Employed

NIP

 

5

Builder / Resale Purchase - Date of Registry to be within 6 months at the time of login

Formal / Informal Rates as mentioned in the above grid will be applicable based on the profile.

 

6

Construction / Ext / Improvement - Stage of Construction between 80% - 99%.

 

 

14.00%

 

14.00%

 

15.75%

Mixed Use Property

Sr. No.

Product

 

Salaried

Self -
Employed

NIP

7

Cases Where Property is of Mixed use

 

13.75%

14.00%

15.75%



Non Housing Loan (NHL)

Salaried

Self-Employed

Sr. No.

Product

Loan Amt

Salaried

Product

Loan Amt

SEP/SENP

NIP

Home Loan - Top - Up

1

Upto Rs. 10 Lacs

14.00%

Home Loan - Top - Up

 

14.00%

16.00%

2

Commercial Property Loan (NRPL - Retail)

 

15.00%

Commercial Property Loan (NRPL
- Retail)

 

15.00%

NA

3

Loan Against Property (LAP - Residential - SORP)

Upto Rs. 10 Lacs

15.00%

Loan Against Property (LAP - Residential - SORP, RRP, VRP)

Upto 15lacs

16.50%

NA

4

Loan Against Property (LAP - Residential - RRP, VRP)

Upto Rs. 10 Lacs

15.50%

Loan Against Property (LAP - Residential - SORP, RRP, VRP)

More than 15 Lacs

14.50%

NA

5

Loan Against Property (LAP - Commercial - SOCP)

Upto 10 lacs

15.50%

Loan Against Property (LAP - Commercial - SOCP, RCP)

Upto 15 lacs

16.50%

NA

6

Loan Against Property (LAP - Commercial - RCP)

Upto 10 lacs

16.00%

Loan Against Property (LAP - Commercial - SOCP, RCP)

More than 15 Lacs

15.50%

NA



Upto Rs 20 Lacs 8.61 Fixed for first 10 year
Loan would be changed to variable thereafter.

Tax Benefits
The housing loans availed from us are eligible for income tax benefits, Interest under section 24 and Principal under section 80C of IT Act.