Mortgage of house/flat purchased out of bank finance. Age of the property shall not exceed 30 years. However, residual /balance life of the building shall be at least 5 years more than the repayment tenor.
Co-obligation of the Spouse of the applicant is mandatory, where third party guarantee is not available.
If the applicant is unmarried/divorcee /widow/widower, co-application of parent/s [irrespective of their age], OR Son, Daughter, Brother, Sister OR a suitable third party guarantee is required.
Rate of Interest
Rate of interest is linked to the MCLR & subject to annual reset. Fixed rate option is also available. Fixed rate is subject to reset.