| Purpose |
Any personal purpose other than speculative purpose. | ||||||||
| Eligibility |
You are eligible if you are:
a. An individual who is; An Employee or A Professional, self-employed or an income tax assesses or NRIs (Who has residential property or commercial properties in his own name or in the name of spouse / children/parent/sibling)b. Minimum net monthly income of Rs. 25000/- (or Rs. 3 lacs per annum) c. Loan under LAP should be liquidated before eldest borrower attain the age of 70 years. | ||||||||
| Loan Amount |
Minimum: Rs.10 Lacs Maximum: Rs.7.5 crores. subject to location of property (*) Conditions apply | ||||||||
| Interest |
9.15% to 11.95% | ||||||||
| Processing Fees |
1% of the loan amount plus service tax, maximum of Rs. 50,000/- plus Service Tax | ||||||||
| Security |
i) Equitable mortgage of the property ii) In cases where the commercial properties are rented out on lease, equitable mortgage on the property will be created and assignment of rental receivable will be obtained. In addition a Tripartite Agreement / Irrevocable power of attorney is also required. (*) Condition apply | ||||||||
| LTV Ratio |
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| Loan Tenor |
Minimum - 5 Years
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| EMI / NMI Ratio |
Maximum permissible EMI/NMI will be as below:
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| Maximum Age |
Loan under LAP should be liquidated before eldest borrower attains the age of 70 years. |