Loan Page

Housing Loan

Title	Norms
Loan Purpose	Construction of a new house, modification of a residential house, or purchase of a house/flat.
Maximum Loan Limit	Rs. 35,00,000
Maximum Repayment Period	120 months (10 years)
Repayment Mode	Monthly
Rate of Interest (p.a.)	10% to 11.25%
Penal Interest	2% extra for the default amount
Eligibility	A Class Membership is required. Property must be within the area of Vengara and Kannamangalam Panchayaths.
Security/Collateral	Personal Surety : Maximum Rs. 50,000 Employee Surety : Maximum Rs.1,00,000 Property : Maximum Rs. 35,00,000
Document Required	Title Deed, Tax Receipt, Possession and Non Attachment Certificates, 14 Years Encumbrance certificate, Location Map, Approved Plan from Panchayath & Estimate signed by a recognized engineer