Loan Purpose – To build your home. Tenure – 10 to 15 years. Debt Burden - Not more than 40% of net income. Repayment – Fixed Monthly Repayment.
Access to a dedicated relationship officer to handle all activities in relation to mortgage facility. Available funds to construct a home. Easy access to insurance facilities for the mortgage facility. Competitive charges. Transparent terms and conditions. Flexibility to choose your preferred contractor.
Property must be residential. Applicant must pay off the loan before their 60th birthday. Applicant must demonstrate ownership of the land. Home Construction- applicant must appoint a contractor or developer who must be willing and capable of pre-financing the building of the house to completion. Home completion - project should be at the lintel level
Other requirements if you are self-Employed