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

Comprehensive Rural Development Through Credit

Housing - HDFC

  • Objective

    To provide loans to individuals for construction /renovation/repair/purchase of ready built house.

  • 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

  • Purpose

    The purpose of loan is for construction of new house/extension/ upgradation/ purchase of ready built houses

  • Maximum loan

    The maximum loan eligible will be 5 lakhs for construction of house and Rs 100000 for repair/removation of existing house

  • Margin

    10% for construction and 30% for repair/ upgradation/ improvement

  • 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

  • Security

    As fixed by the apex bank in the respective loan rules in accordance with the guidelines issued by RBI?NABARD/RCS

  • 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

  • Reporting system

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