Purpose of Loan:
To meet any type of expenditure in respect of the House viz. repairs/ renovation/ remodeling / furnishing etc.
Existing home loan borrowers (Standard Assets with regular EMI repayment) who:
Are salaried/professional & self employed, agriculturists or business men having regular source of Income.
Have repaid minimum 24 EMIs in Home loan account.
Where net take home pay/monthly income is not be less than 35% of gross monthly income/earnings after considering all deductions including the EMI of the proposed TOP-up Loan.
Quantum of Loan:The maximum amount of loan can be extended upto 50% of EMIs repaid subject to minimum of Rs.50,000/- to Maximum of Rs.5,00,000/-
Rate of Interest:
|BPLR – 1.75% i.e. 10.00% (Floating)||BPLR –1.00% i.e. 10.75% (Floating)|
50% [i.e. only 50% of the amount already repaid will be considered as top-up loan subject to maximum cap].
0.50% of the Top-up Loan amount.
Repayment of Loan:
The maximum repayment period is of 5 years or left over period for the borrower before he attains retirement or 60 years of age which ever is earlier. Term loan is subject to review every year.
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