THE KERALA STATE CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD(KSCARDB)

Comprehensive Rural Development Through Credit

ARF (NFS) - Rural Housing NABARD

  • Objective

    To provide loans to individuals for construction /rennovation /repair of existing houses

  • Eligible borrowers

    Individuals having membership under the cooperative socities act, those who are not owing a pucca/semi pucca home & those having landed property in the village and residing in villages.

  • Area of operation

    In Rural area only ie population not exceeding 50000 or such other criteria being fixed by RBI from time to time.

  • Purpose

    • Construction of new house

    • Repair / rennovation of existing house

  • Ceiling

    The cost may not exceed Rs 7.5 lakhs .If land is being acquired the land cost may be reckoned as margin otherwise cost of land should not be included in the target cost.

  • Maximum loan amount

    Construction of new house Rs 500000 for repair/rennovation Rs 100000

  • Margin

    • Upto Rs 20000 -  20%

    • Above Rs 20000 -  25%

  • Repayment period

    • 15 yrs for new house with 18 months grace period

    • 5 yrs for repair/ renovation.

  • Security

  • Interest rate

    Interest rate will be fixed by KCARDB from time to time in accordance with the guidelines issued by RCS/ NABARD/ RBI

  • Reporting system

    The monthly housing loan disbursement progress statement should be furnished in the prescribed format.