Purpose
- Construction of new residential house / flat/bunglow.
- Purchase of Old dwelling unit – House/flat/bunglow.
- Purchase of plot of land for construction of new house.
- Extension of existing house, additional construction thereon etc.
- Repair/renovation/alteration/improvement in existing house/ flat
- For purchase of 2ndhouse for family use.
Eligibility
- Housing loan can be granted to individual or jointly with close relatives. Close Relative means Spouse, Parents, Children & their Spouse, Brother/ Sister & their Spouse, Brother & Sister of Spouse.
- Salaried Person must be a confirmed employee of the organisation and must have put in minimum Period of confirmed service of -1- year.
- Businessman/ Profession persons & non-Salaried individuals should have been established in his/her/their line of activity since last -2 Year and having stable income.
- Farmers should have adequate income based on last -2years average income, to repay the loan.
Documents
- Proof of Identity (Any one):- PAN/ Passport/ Driver’s License/ Voter ID card
- Proof of Residence Address (Any one):- Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Gas Bill or copy of Aadhaar Card / Passport/ Driving License
- 2 passport-size photographs
- For salaried person last three months salary slip with Form-16
- For Businessmen, professionals last three years audited Financial Statements along with ITR copies.
- Statements of SB account for the last six months.
- Copy of draft sale deed/Agreement to sale in case of ready-made house/flat.
- If plot is owned by the loanee and construction to be carried out through contractor, copy of the ownership document and cost estimation duly verified and certified by the engineer along with a copy of the sanctioned plan by competent authority in the name of a person applying for such credit facility
- In case of under construction property/flat, sale agreement entered with between builder/developers.
- In case of loan for repair/renovation/additional construction cost estimation/ quotations etc. duly certified by the engineer.
- Certified copy of Approved plan of the building,
- Copy of permission for carrying out the construction as per approved plan. Copy of all the revenue records, complete chain of documents.
- In case the flat/house is under society, NOC from society, Share certificate and a letter that Society will register our lien in their book.