|
Loan amount
48 times the net monthly income for persons upto 45
years of age and 36 times the NMI for persons above 45
years of age. Subject to the stipulation that the aggregate
repayment obligation should not exceed 50% of their NMI
/ NAI.
Purpose
Construction / Acquisition of
new house / flat / renovation / alteration /extension of
existing house.
Margin
i) 20% of the total cost to be remitted from abroad or
transfer from funds in NRE/FCNR/NRNR/NRO account for purchase
of land meant for construction of a dwelling unit, including
cost of registration, stamp duty etc.,
ii) 15% of the total cost including amenities, registration,
stamp duty etc., for purchase of new or old house / flat or
construction of House / flat.
iii) 20% of the cost of the project for repairs
/ renovation.
Repayment
i) 180 months including the repayment
holiday of 18 months.
ii) Repayment to begin on completion of the
house or 18 months from the disbursement of first instalment
of the loan, whichever is earlier.
iii) Repayment shall be through remittance
from abroad or transfer from NRE/FCNR/NRO accounts.
iv) Rental income if any received should go
towards repayment of loan.
v) Repayment can be from local sources after
returning to India permanently.
Floating Interest Rates for housing
loans have been revised with effect from 01.01.2008. There
is NO CHANGE
IN THE FIXED RATE OF INTEREST.
Fixed Rate of Interest
|
Repayment Period
|
Rate of interest (%)
(wef 01.04.2008)
|
Upto
5 years
|
12.75
|
| Above
5 years upto 15years |
12.75
|
| No
Fixed Rates above 15 years
|
|
Floating Rate of Interest (with effect from 01.04.2008)
|
Repayment Period
|
Upto
Rs. 20 lacs
(limit)
|
Above Rs.20 lacs
(Limit)
|
Upto
and inclusive 5 years
|
3.25% below PLR 10.00%
p.a |
3.00% below PLR 10.25% p.a
|
| Above
5 years upto 10 years (inclusive) |
3.00% below PLR 10.25%
p.a |
2.75% below PLR 10.50% p.a
|
| Above
10 years upto 15 years (inclusive) |
2.75% below PLR 10.50%
p.a |
2.75% below PLR 10.50% p.a
|
| Above
15 years upto and inclusive of 20 years |
2.75% below PLR 10.50% p.a |
2.50% below PLR 10.75%
p.a |
| Above
20 years upto and inclusive of 25 years |
2.75% below PLR 10.50% p.a |
2.50% below PLR 10.75%
p.a |
|
Schemes and Interest rates are subject
to changes from time to time.
|
.gif){kind=spacer}
.gif){kind=spacer}
