Home Loan

• Purchase of ready to occupy/repurchase of house aged up to 30 years.
• Purchase of ready to occupy/repurchase of flat aged up to 20 years.
• Purchase of Land and Construction of House. (In cases where plot is purchased and construction is undertaken at a later stage, declaration to be obtained from the borrower that he intends to construct a house on the said plot with the help of bank finance)
• Purchase of Flat or residential unit under construction in Housing Projects approved by bank.
• Additions to the house / flat/ residential unit (Since Estimate/plan/permit is available & equivalent to new construction, no restriction on loan amount)
• Alteration / Repair/ Reconstruction to the house / flat
• Reimbursement of Expenses incurred within two years for Flats/ residential unit under Construction, and Purchase of Ready to occupy Flat/ Villas subject to the condition:
  • Reimbursement should not be beyond one year from the date of handing over, in the case of Purchase of Ready to occupy Flat/ residential unit
  • Reimbursement should not be beyond two years from the launching of the project, for Flats/ residential unit under Construction and branch to confirm that the project is on-going.
• Reimbursement of Expenses incurred within one year for individual houses subject to the condition that reimbursement should not be beyond one year from the issue of Building Number/ Occupancy Certificate from local body/ any valid document issued by competent authority evidencing the date of completion of the unit.
• Reimbursement of Expenses incurred for Repairs, Alteration and Additions within one year.

Resident Indian

• Salaried
• SENP (Self-employed nonprofessional): - Manufacturers, Traders, Wholesalers, Retailers, Service Providers
• SEP (Self-employed professionals) Doctors, CA, CS, ICWA, Architect, Engineer, IT enabled professional services, Professional Start Ups
• Agriculturist
• Senior citizen / Pensioner 

Non-Resident Indian

Minimum Bureau score of 730 and 0/-1 (ie. applicants without track record) can also be accepted.

• Minimum 2 years of total employment with minimum 1 year in current employment or the borrowers with current employment less than 1 Year but has continuous employment for more than 2 Years.
• Business Vintage: Min 3 years

• Security for the loan will be Mortgage of Land and building to be constructed/Purchased
• Repayment period may be extended beyond retirement, if pensionable
• Surrogate Program available– Assessment is based on Last 12 months Average Bank Balance (excluding months with lowest and highest Average Bank Balances) in Personal Account, in case income documents are not available
• Top up Loan available for existing customers with 12 months’ regular repayment track record, Subject to conditions.

0.50% +GST of the loan amount, subject to a minimum amount of Rs.10000.00 + GST

2% p.a. for the defaulted amount for the defaulted period.

List Of  Documents Required With Respect To The Purpose Of Loan

For Construction of Residential House in Own Land 

• Approved Building Permit.
• Approved Building Plan.
• Construction Estimate
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.
• Latest Land Tax Receipt. 

For Purchase of Land with Residential House 

• Sale Agreement.
• Approved Building Plan/ Permit if available.
• Latest Building Tax Receipt.
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.
• Latest Land Tax Receipt. 

For Purchase of Land and Construction of House Later 

• Sale Agreement.
• Construction Estimate from engineer if available.
• Self-Declaration from the applicant mentioning approx. Construction Estimate and area of the building proposed to construct.
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.
• Latest Land Tax Receipt. 

For Purchase of Ready to Occupy Flat 

• Sale Agreement.
• Approved Building permit/NOC from Local body
• Latest Building Tax Receipt.
• Latest Land Tax Receipt
• Completion/Occupancy Certificate in case of purchase from builder directly. 
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.

For Purchase of Flat under Construction 

• Registered sale agreement.
• Construction agreement if applicable.
• Approved Building Permit/NOC from local body.
• Tripartite Agreement (to be obtained before disbursal of the loan).
• Statutory approval i.e. Pollution Control Board, Fire and Safety, Aviation Clearance etc.
• NOC from Project Financing Bank if applicable.
• RERA certificate if applicable 
• One-time builder approval.
• Latest Land Tax Receipt
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.

For Repairs/Renovation/Extension  

• Repairs/Renovation Estimate.
• Approved Plan and Permit / NOC from local body if applicable.
• Latest Land Tax Receipt.
• Latest Building Tax Receipt. 
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.

For Takeover

• Sanction Order of Existing Housing Loan.
• Latest 12 months Loan account statement.
• Valid and Necessary approvals for under construction projects.
• Tax paid Receipt for the Completed Projects. 

Reimbursement in Case of Construction of New House 

• Occupancy Certificate/Tax Demand Notice from the local Govt. Body.
• Engineer Certificate supporting the investment made.
• Construction Estimate from engineer.
• Approved Building Plan/Permit..
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office.
• Latest Land Tax Receipt. 
• Latest Building Tax Receipt.

Reimbursement in case of Renovation 

• Repairs/Renovation Estimate.
• Licensed Engineer to certify that the renovation is within one year.
• Approved Building Plan and Permit/NOC from local body if available
• Latest Land Tax Receipt.
• Latest Building Tax Receipt.
• Location Sketch Issued by Village Office/Revenue Office.
• Possession Certificate Issued by Village Office/Revenue Office. 

Reimbursement in case of Purchase of House/Flat* 

• Sale Deed Copy.
• Approved Building Plan and Permit/ NOC from local body if available
• Latest Building Tax Receipt.
• Latest Land Tax Receipt. 
• Copies of Approval

*Reimbursement of Expenses incurred within two years for Flats/Villas under Construction are also allowed

In addition to the above documents, all other documents for Legal Clearance as required by the Bank’s Panel Advocate

KYC Documents: 

• Two Passport Size Photos of the applicant/co-applicant and the guarantor.
• Identity Proof – Passport/Voters ID/Driving License/PAN Card/ Aadhar Card.
• Address Proof - Passport/Voters ID/Driving License/PAN Card/ Aadhar Card.
• Copy of VISA, Passport, Work Permit, ID Card (Applicable for NRI customers).

Income Documents

Salaried Class (Resident) 

• Min 3 latest salary slips (min 6 pay slips in case monthly income is variable) / Latest Salary Certificate.
• Latest 2 Years ITR with Computation/ Form 16 for the last 2 Years.
• Minimum last 6 months’ bank statement with min 5 salary credits. 

Business/Self Employed (Resident) 

• Latest two years personal ITRs supported by Computation sheet, Profit & Loss account and Balance sheet.
• Proof of Business.
• Last 6 months Bank account statement. 

NRI Salaried 

• Salary Certificate and employment contract / embassy attested salary certificate.
• Latest 1 year NRE a/c statement with any bank in India and/or resident accounts of spouse in which regular remittance is made OR Salary Credit account statement for last 1 year. 

NRI Business 

• Valid Proof of Business & Financials.
• Latest 24 months’ overseas bank account statements in Personal Name in which regular income is credited and Latest 24 months NRI account statement with any bank in India in which regular remittances are being made. 

• Latest 2 year ITRs along with Computation Sheet.
• Latest Tax Receipts of agri. land.
• Latest 1year SB a/c statement. 

Senior Citizen/Pensioners 

• Pension Order Copy.
• Latest 6 months Pension Credit a/c statement.
• Latest 1 Year SB a/c statement. 

Maximum Deduction (INR)

Principal

House property should not be sold within 5 years of possession.

The loan must be taken for the purchase/construction of a house, and the construction must be completed within 5 years from the end of the financial year in which the loan was taken.

Stamp Duty

It can be claimed only in the year these expenses are incurred.