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Plot Loan
Purpose / ObjectiveFor purchase of House Site on ownership basis; House site should be located in layout which is approved by Competent Authority
EligibilityMinimum entry age is 18 years and maximum exit age is 60 years
Amount of Loan*30 times of Gross Monthly Income;
The cap on Plot Loan per borrower has been fixed as under:
*For purchase of property in Rural area : Rs. 50.00 lakhs
*For purchase of property in Semi-urban area : Rs. 100.00 lakhs
*For purchase of property in Urban area : Rs. 200.00 lakhs
*For purchase of property in Metro : Rs. 300.00 lakhs.
Margin25% on Land cost
Processing fee1.173% on loan amount
Interest RatesPlease see the Lending Rates link on home page *Construction of house has to commence within 2 years from the date of availing the loan / from the date of handing over possession by the Government Housing Development Agency, as the case may be, otherwise higher Rate of Interest will be charged for the delayed period.
RepaymentMaximum 180 EMIs (No Holiday Period)
Prepayment chargesNIL
Security* Equitable Mortgage of Property purchased out of loan proceeds. * Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located.
CERSAI registration (at Applicant’s cost) to be done
(i) For Loans up to Rs 5 Lakhs - Rs 50 + ST
(II) For Loans above Rs 5 Lakhs – Rs 100 + ST
Documents to be submitted for processing the applicationAs detailed in our Home Loan product. All the applicable/relevant documentary evidences are to be submitted

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