to urban households for construction, extension, renovation and purchase of new home. Interest rates range from 12% to 20% for housing loans. Interest rates are higher for home equity loans (or Loan against Property), where the end-use is not for housing. A file processing fee of 2%-3% (including GST) is charged.
Features
Loan Purpose
If you are planning to move to a city, buying your own home can get overwhelming. When you think about applying for a loan there are a lot of hurdles that may come your way; Home Loan Eligibility is what will determine your next steps. If you are eligible then for you to avail of that desired loan amount you will have to provide a lot of documents. Here comes the next hurdle; Document Verification.
Housing Loans prepaid/ pre-closed through ‘Own Sources’ of the Borrower(s).
NIL charges Housing Loans prepaid/ pre-closed through Other Sources (a) Within 24 months of disbursement of last installment of the Loan - 6.5% of the Loan Amount paid. (b) After 24 months of disbursement of last installment of the Loan - 4.5% of the Loan Amount paid.
Housing Loans to individual borrowers
NIL charges Housing Loans to non-individual borrowers (a) Within 24 months of disbursement of last installment of the Loan - 6.5% of the Loan Amount paid. (b) After 24 months of disbursement of last installment of the Loan - 4.5% of the Loan Amount paid. *Please refer Schedule of Charges as updated in the Downloads – Policy & News Section for latest update and details.
A file processing fee of 2%-3% (including GST) is charged.
Rs. 8 Lakhs to Rs. 50 Lakhs
20 Years
Eligibility
Family members and co-owners of the property.
Equitable Mortgage of the property being financed
by deposit of title deeds
