Plot and Construction Loan (Composite Loan)

This facility is to provide finance for purchase of plot and construction of residential house thereon within specific time.

  • Loan amount:Upto Rs. 50 Lacs in Metros and Rs. 30 Lacs in Non-Metro Cities
  • Maximum Loan to Value:
    Loan Amount Maximum Loan to Value
    Upto Rs. 30,00,000 90% of property value
    From Rs. 30,00,001 to Rs. 50,00,000 80% of property value
  • Tenure:up to 20 Years (However, the period shall not exceed beyond 60 years and 70 years of age of the borrower/co-borrower, respectively for Salaried and Self Employed borrowers / co borrowers)
  • Repayment:Equated Monthly Instalments (EMI) through Automated Clearing House (ACH).
  • Tax benefits:Tax deduction subject to a maximum limit of Rs 2 Lacs for interest payments and up to Rs 1.5 Lacs for principal repayment. Tax benefit can be shared between co-borrowers subject to certain conditions.