Housing - HDFC
1. Objective: To provide loans to individuals for construction /renovation/repair/purchase of ready built house.
2. Eligible borrower: Individual having membership under the cooperative
societies Act ,those who are not qiving a pucca/semi puccahouse and those having landed property in villages and residing in villages along with monthly income details over 2100 to 7500 will be eligible for loan
3. Purpose: The purpose of loan is for construction of new
house/extension/ upgradation/ purchase of ready built houses.
4. Maximum loan: The maximum loan eligible will be 5 lakhs for construction of house and Rs 100000 for repair/removation of existing house.
5. Margin: 10% for construction and 30% for repair/
upgradation/ improvement.
6. Repayment period: The loan should be repaid within a maximum period of 15yrs and 10yrs for repair with a grace period of 6
months. In the case of purchase ready built houses no grace period is allowed.
7. Security: As fixed by the apex bank in the respective loan rules in accordance with the guidelines issued by
RBI?NABARD/RCS
8. Rate of interest: Interest rate will be fixed by KCARDB from
time to time in accordance with the guidelines issued by RCS/NABARD/RBI.Please
see the interest on Loans and refinance in the site.
9. Reporting system: The monthly HDFC housing loan disbursement progress statement should be furnished in the prescribed format.
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