An applicant must
be in service or engaged in any profession or business with regular income for servicing
the loan.
The loan amount
will not exceed 85% of the cost of housing unit including incidental costs like stamp duty
and registration. The maximum loan amount will be Rs. 50 lacs for purchase or construction
of house or flat or composite loan, Rs. 10 lacs for purchase of plot, Rs. 8 lacs for
extension/improvement of house or flat and Rs. 2 lacs for registration of property.
The actual loan
amount will be determined on the basis of repayment capacity. Repayment capacity takes
into account factors such as income, age, qualifications, number of dependants, spouse's
income, assets, liabilities, stability and continuity of occupation and savings history.
