Housing Loan with Solar Rooftop :: KGB :: Kerala's own Bank

NATIONAL CYBER CRIME HELPLINE 1930

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Housing Loan with Solar Rooftop

Purpose

Purchase of house property.
Construction/extension of house property.
Purchase of ready built Villas.
For undertaking repairs, renovation, up - gradation, extension, ceration of additional amenities
Housing Loan for Second House.

Eligibility

Individuals and NRI having sufficient and regular income.
Age of the applicant shall not be more than 55 years.

Limit & Margin

For Residents 5 times of annual income
For NRI - 4 times of annual income
20 % of the project cost including the cost of setting up of Roof Top Solar system plant

Security

Equitable Mortgage of land and building constructed/to be constructed/to be purchased by Bank Finance. The value of the property should be atleast 125% ot the loan limit.
Hypothecation of Solar Rooftop Unit installed out of bank finance.

Repayment

Tennure upto 30 Years
Repayment holiday upto 18 months can be availed.

Interest Rates & Charges

As applicable to General Housing Loan scheme

Purpose

To provide easy finance to individuals for non-business purposes, like meeting any unforeseen expenses, urgent personal and medical needs etc.

Eligibility

Individual customers having satisfactory dealings with our Bank for a minimum period of one year.
Applicant should be a permanent resident in the command area of the Branch and have adequate net worth.
CIBIL Score of the borrower should be greater than 700

Limit & Margin

Up to 40% of value of the property (Distress Sale Value) offered as security with a minimum of Rs.2 lakh and maximum of Rs.5 lakh (Up to 33.33% of value of property in case of property without building).

Security

Residential property (land and building) with Distress Value 250% of loan amount
Commercial property (land and building) with Distress Value 250% of loan amount
Residential/Commercial Plot (without building) with minimum extent of 10 cents in rural areas and 5 cents in other areas, with Distress Value 300% of loan amount

Repayment

Repayment period up to 180 months

Interest Rates & Charges

For loan interest rates Click Here
For service charges and fees. Click Here

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