The refinance scheme is devised for customers to repay the money borrowed by them from individuals for Construction of Residential Property / New Home Purchase / Resale Purchase.
Home Loan – New / Resale: Loans will be extended for repaying money borrowed by customer from individuals for purchase (New / Resale) residential property. Disbursement will be in favour of applicant & Co-Applicants only.
Home Construction on Self -Owned Plot: Loans will be extended for repaying money borrowed by customer from individuals for Self-Construction of residential property. The scheme is applicable wherein construction is complete and within latest 6 months.
Self construction cases -The scheme is applicable wherein construction is complete and within latest 6 months.
New Home purchase or Resale Purchase, it will be permitted within 6 months of Date of Registration.
Disbursement will be mandatorily in favour of Applicant / Co-Applicants.
The scheme is applicable only at Approved Locations.
The scheme is not applicable for BT and MSME Products.
Completion Certificate from Government body/Certified Engineer is mandatory
The minimum loan amount under Home Loan Refinance is capped at Rs. 2 Lakhs. The maximum loan amount for the same goes up to Rs. 5 Lakhs.
The minimum tenure is 2 years and the maximum tenure offered under Home Loan Refinance is 10 years.