House Repair & Renovation Loan

House repairing, renovation, furnishing, alteration, modification or addition (not eligible simultaneously with housing loan).

Interest RateAs per quantum of loan, fixed by the Board of Directors under the directives of the Reserve Bank of India from time to time.

Maximum Amount₹20 Lakhs (₹5 Lakhs if borrower already has a housing loan with the Bank)

Maximum Tenure10 Years or up to age of retirement / 70 years as applicable

Key Highlights

Loan for house repair, renovation and alteration

Maximum limit ₹20 Lakh

Maximum limit ₹5 Lakh if existing housing loan with the Bank

Mortgage-backed loan

Repayment up to 10 years

Regular membership with 2.5% share linking of loan amount as per RBI guidelines.

Loan eligibility limited to 60% of realizable value of the flat/house intended for repair or renovation.

Borrower cannot apply for Housing Loan and House Repair Loan at the same time.

Affidavit stating loan will be used only for sanctioned purpose.

Self-estimate or Contractor's estimate.

Income proof of applicant and sureties.

Residential proof (Aadhar Card mandatory plus supporting document).

Last 6 months bank account statement of applicant.

Property documents as per checklist.

Legal opinion and title search report.

Affidavit-cum-undertaking regarding authorized construction.

NOC from Employees Credit Co-op Society, if applicable.

Business proof such as Udyam, Shop Act, GST certificate where applicable.

Equitable Mortgage by deposit of Title Deed or Registered Mortgage Deed along with original title documents. Loan limited to 60% of realizable value

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Processing Fee

As per prescribed Bank's Service Charges.

Visit the branch or call us for more details.