A Housing Loan (or Mortgage) is a secured long-term financial product where a bank provides funds to an individual to purchase, construct, or improve a residential property. The property itself serves as collateral (security) for the loan. The borrower repays the amount through Equated Monthly Installments (EMIs) consisting of both principal and interest over a fixed period.
key Features:
- 90% of Dastavej / Satakhat / Sale Deed.
- Lowest Rate of Interest (min.) 8.75%.
- Take over scheme is available.
- Tenure 240 months.
- No process charge for Rs.25 Lacs.
- Reimbursement facility is also available for Dastavej / Sale Deed upto 1 year.
