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Individuals and HUFs (operating through Kartas) with sufficient income and who can produce satisfactory proof of such income by way of salary certificates, Income Tax certificates etc.can avail loans under the scheme.
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- Construction of a new house/flat.
- Purchase of a new house /flat constructed by a reputed promoter/contractor.
- Additional construction or alterations carried out by the owners of the houses.
- Repairs done by owners of the houses.
- Purchase of old houses
- Purchase of approved plots
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- 25% of the purchase consideration in the case of purchase of old houses/approved plots
- 15% of the project cost in the case of loans for construction/purchase of new house/flat
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- The maximum repayment period will be 15 years or the borrower attaining the age of 65 years, whichever is earlier, including a maximum holiday period of six months.
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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Lakshmi Home Loans – Variable rate loans
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Loans of up to Rs.30.00 lacs:
Loans repayable in 5 years: Base Rate + 1.50% (PER: 12.50% p.a.)
Loans repayable in 5 to 15 years: Base Rate + 1.75% (PER: 12.75% p.a.)
Loans of above Rs.30.00 lacs:
Loans repayable in 5 years: Base Rate + 1.75% (PER: 12.75% p.a.)
Loans repayable in 5 to 15 years: Base Rate + 2% (PER: 13.00% p.a.)
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