Corp Ghar Shobha Scheme
- As per extant guideline of housing loan scheme
- For repairs/renovation /extension/improvement/furnishing of house/flat.
- For take-over of housing loans from other Banks/Institution, originally sanctioned for repairs/renovation /extension /improvement/ furnishing of house/flat.
|Port Town [other than Metro] & Urban centres||Rs.15 lakh|
|Semi Urban centres||Rs.12 lakh|
|Rural centres||Rs.8 lakh|
- Loan amount is based on location of the property
- 25 % on project cost and value of the property.
- Mortgage of house / flat.
- Age of the building to be mortgaged shall not exceed 30 years. However, residual /balance life of the property shall be at least 5 years more than the repayment tenor.
- Insurance of the mortgaged property is mandatory and the insurance premium shall be borne by the borrower.
- For loan up to Rs.1 lakh, EMG of house/flat is not mandatory. In such cases, the loan should be fully secured by financial assets such as LIC Policies/deposits/NSCs/KVP, subject to maintaining prescribed margin against such securities
Rate of Interest
- Loan shall be repayable in 10 to 15 years tenor including initial repayment holiday of 6 months.
- Repayment period shall not exceed retirement age for salaried class and 70 years of age for other than salaried class.