All Existing Home Loan Borrowers including NRIs /PIOs, Staff and Ex-staff Members( availed home loan under public scheme as well as Staff Housing Loans) whose Asset classification is Standard
Unified Processing Charges
0.25% of the Loan amount
Minimum: Rs. 5,000/- (upfront)
Maximum: Rs. 12,500/- plus GST
Minimum Rs.1 Lakhs
Maximum Rs.200 Lakhs
Any purpose other than Speculation
25% of Residual Value of House Property after deducting 150% of outstanding loan amount of Existing home Loan.
|Outstanding Home Loan + Proposed Top Up Loan
||(Based on Realizable Value)
|LTV Ratio (HL + Top-Up)
|Upto Rs. 30.00 Lakhs
|Above Rs. 30.00 Lakhs & upto Rs. 75.00 Lakhs
|Above Rs. 75.00 Lakhs
21 years (applicant),18 years (co-applicant)
- Age of the borrower + tenure of Top Up Loan should not exceed 70 years as per laid down norms mentioned under Home Loan Product (For Resident Indian)
- Age of the borrower + tenure of Top Up Loan should not exceed 65 years (For NRIs /PIOs /OCIs)
- Age of the borrower + tenure of AAA Loan should not exceed 70 years as per laid down norms mentioned under Home Loan Product (For Resident Indian)
- Age of the borrower + tenure of AAA Loan should not exceed 65 years (For NRIs /PIOs /OCIs)
- Top-up loan may be sanctioned for the maximum period upto which the applicant is eligible as per his/ her age criteria i.e. irrespective of the tenure of linked Home loan applied/availed.
- In case linked Home Loan account is closed, the repayment of Top-up loan can be continued upto the sanctioned tenure.
- However, no fresh/enhancement of Top-up loan facility will be sanctioned after the closure of linked Home Loan.
- Repayment by Equated Monthly Installments (EMI). First installment to fall due one month after first disbursement.
- In case of existing Top-up (Erstwhile AAA) Loan, the same is to be closed within -4- years after the pre-closure of linked Home Loan account as per existing terms and conditions.
Extension of Equitable Mortgage
- Property Insurance Cover to be obtained at the cost of borrower as per Bank’s norms.
- Free Personal Accidental Death Insurance Cover is available under Master Policy
- Group Credit Life Insurance Cover (Optional and at the cost of Borrower)
Total deductions including proposed EMI should not exceed as follows
|GMI less than Rs.20,000/-
|GMI Rs.20,000/- and above but less than Rs.50,000/
|GMI Rs.50,000/- and above but less than Rs.2.00 lacs
|GMI Rs.2.00 lacs and above but less than Rs.5.00 lacs
|GMI Rs.5lacs and above
- Average Gross Annual Income (For last -2- years) up to Rs.6 lacs:70%
- Average Gross Annual Income (For last -2- years) more than Rs.6 lacs: 80%.
Valuation Norms for the property to be mortgaged
Valuation norms will be as under
- In case of properties acquired within last -3- years, amount of Registered Sale Deed or the Realizable Value whichever is lower should be taken as value of property.
- In other cases, i.e. execution of the Sale Deed is prior to 3 years, present Realizable Value as per the fresh Valuation Report from the Bank’s approved Valuer to be obtained
- In case of Take over, Fresh Valuation Report to be obtained from our Bank’s approved Valuer and margin & LTV Ratio is maintained as per the scheme