|
Schemes for Individuals:
Salaried Persons, Professionals, Businessmen with sufficient disposable income. Farmers having min five acres of irrigated land holding. Non Resident Indians are also eligible. Banks sanction loans to individuals for construction of houses, purchase of houses / flats and repairs, renovation, addition alteration extension etc. The loans are sanction for a period ranging from 5 to 20 years, and the loan amount is based on the repayment capacity of borrower.
For salaried class:
It considers 50 times of Gross Salary or 60 times of Net Monthly salary which-ever is higher subject to applicable margin
For Businessmen:
Equal to average annual income (Net profit + Depreciation) of last 3 yrs X 4 times.
For Farmers:
It considers 4 times of average annual net income. There is cross checks on gross income, land holding, cropping pattern, Sugar Factory/APMC/ other agencies bills etc. It ensures for repayment capacity & repayment experience. If jointly owned, consider joint holder’s income.
Rural Housing Finance Scheme:
The Golden Jubilee Rural Housing Finance Scheme is to redress the problem of rural housing through improved access to housing credit in rural areas, for construction of house, purchase of house/flat under construction or purchase of newly built ready house /flat/ repair/ renovation/ extension etc There is no ceiling on the quantum of loan provided by banks under the scheme. All loans extended by the banks in rural areas for housing purposes be included under the captioned scheme. However, it may be noted that refinance facility from NHB shall be limited up to a maximum of Rs.15.00 lac per dwelling unit under the scheme.
|
Participants