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    Overdraft Facility To Housing Loan Borrowers For Personal Needs

    Uploaded by

    Saurabh Kumar
    This document outlines the key details of three housing loan schemes offered by PUPGB bank. The first scheme provides overdraft facilities to existing housing loan customers for personal needs between Rs. 50,000 to Rs. 25 lakhs, secured by the mortgaged property. The second "Gen-Next" scheme offers higher loans of up to 1.25 times the regular amount to salaried individuals under 40 with a salary over Rs. 35,000 for home purchases. The third general housing scheme provides need-based loans for construction, purchase, repairs or renovations secured by the property.

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    © All Rights Reserved
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    Overdraft Facility To Housing Loan Borrowers For Personal Needs

    Uploaded by

    Saurabh Kumar
    46 views3 pages
    This document outlines the key details of three housing loan schemes offered by PUPGB bank. The first scheme provides overdraft facilities to existing housing loan customers for personal needs between Rs. 50,000 to Rs. 25 lakhs, secured by the mortgaged property. The second "Gen-Next" scheme offers higher loans of up to 1.25 times the regular amount to salaried individuals under 40 with a salary over Rs. 35,000 for home purchases. The third general housing scheme provides need-based loans for construction, purchase, repairs or renovations secured by the property.

    Original Description:

    How to get house loan

    Original Title

    Housing Loan

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    This document outlines the key details of three housing loan schemes offered by PUPGB bank. The first scheme provides overdraft facilities to existing housing loan customers for personal needs between Rs. 50,000 to Rs. 25 lakhs, secured by the mortgaged property. The second "Gen-Next" scheme offers higher loans of up to 1.25 times the regular amount to salaried individuals under 40 with a salary over Rs. 35,000 for home purchases. The third general housing scheme provides need-based loans for construction, purchase, repairs or renovations secured by the property.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    46 views3 pages

    Overdraft Facility To Housing Loan Borrowers For Personal Needs

    Uploaded by

    Saurabh Kumar
    This document outlines the key details of three housing loan schemes offered by PUPGB bank. The first scheme provides overdraft facilities to existing housing loan customers for personal needs between Rs. 50,000 to Rs. 25 lakhs, secured by the mortgaged property. The second "Gen-Next" scheme offers higher loans of up to 1.25 times the regular amount to salaried individuals under 40 with a salary over Rs. 35,000 for home purchases. The third general housing scheme provides need-based loans for construction, purchase, repairs or renovations secured by the property.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Name of the OVERDRAFT FACILITY TO HOUSING LOAN BORROWERS

    Scheme FOR PERSONAL NEEDS


    Purpose For Personal needs/use
    Eligibility All existing/new Housing Loan a/cs of our Bank or those
    acquired/being acquired by way of take-over from other
    Banks/HFls.
    Customer Before entertaining the proposal, branches to ensure that the
    Identity identity of the applicant is established through KYC.
    Facility Overdraft
    Quantum / Minimum- Rs.50,000/- and Maximum- Rs.25.00 Lakhs.
    Limit
    Security Extension of charge/Creation of charge on the
    existing Mortgaged Immovable Property/IP to be
    mortgaged
    Margin NA
    Release OD limit is in the nature of cash credit limit. There is no
    Schedule restriction in number of debits and credits.
    Repayment The overdraft facility shall be reviewed annually.
    Borrowers to ensure monthly servicing of interest component
    on the overdraft facility sanctioned. In case the interest is not
    serviced consecutively for two months, Bank may consider
    recalling the loan.
    Rate of Interest As per Bank’s guidelines in force.
    Charges As per Bank’s norms in force.
    Documents As per Bank’s guidelines
    required
    Other Terms In case the interest is not serviced within 07 days of the close
    and Conditions of the month, the borrower shall be liable to pay penal
    interest @ 2% over and above the applicable rate on the
    amount of default and for the period of default
    CIC Mandatory to be obtained.
    Above are only salient features of the scheme. For details please contact your
    nearest branch of PUPGB.

    1
    Name of the PUPGB GEN-NEXT HOUSING FINANCE SCHEME FOR
    Scheme PUBLIC
    Purpose 1. For purchase of ready to move in house/flat etc.
    2. For construction of House/flat etc.
    3. For purchase of under construction flat of approved
    private builder
    Eligibility 1. Upto the age of 40 years
    2. All salaried employees with minimum 3 years’
    experience
    3. Minimum Net Monthly Salary of Rs 35000/-
    Customer Before entertaining the proposal, branches to ensure that the
    Identity identity of the applicant is established through KYC.
    Facility Term Loan
    Quantum / 1.25 times the loan amount calculated as per the regular
    Limit housing loan method, subject to maintenance of prescribed
    LTV ratio. However, borrower may take lower amount.

    Minimum amount- Rs.20 Lakh;


    Maximum amount- Need Based
    Security Equitable/registered mortgage of the property
    Margin For Housing Loan up-to Rs.75 Lakhs : 20%
    For Housing Loan above Rs.75 Lakhs : 25%
    For Purchase of land/plot for house building : 25%
    Release For outright purchase of house/flat & plot, the loan will be
    Schedule paid in lump sum other than this the loan amount will be
    disbursed in stages depending on the progress.
    Repayment Period Monthly Repayment
    During moratorium Only interest to be serviced
    period
    Next 120 months EMI on sanctioned limit for 360
    months
    Remaining period EMI which will fully amortize the
    remaining outstanding in the
    housing loan account within the
    remaining period
    Rate of Interest As per Bank’s guidelines in force.
    Charges As per Bank’s norms in force.
    Documents As per Bank’s guidelines
    required
    Other Terms Borrower will be offered paying lower EMIs during initial
    and Conditions years and step up the same during the subsequent years
    while recovery of entire loan amount will be ensured within
    the agreed repayment period.
    CIC Mandatory to be obtained.
    Above are only salient features of the scheme. For details please contact your
    nearest branch of PUPGB.

    2
    Name of the Housing Finance Scheme for Public
    Scheme
    Purpose For Construction/Purchase/Additions/Repairs/Renovation
    of the house property
    Eligibility Individuals or Joint owners
    Customer Before entertaining the proposal, branches to ensure that the
    Identity identity of the applicant is established through KYC.
    Facility Term Loan
    Quantum / Need-based loan depending upon the project cost and
    Limit repaying capacity of the borrower.
    Security Equitable/registered mortgage of the property
    Margin For Housing Loan up-to Rs.75 Lakhs : 20%
    For Housing Loan above Rs.75 Lakhs : 25%
    For Purchase of land/plot for house building : 25%
    Release For outright purchase of house/flat & plot, the loan will be
    Schedule paid in lump sum other than this the loan amount will be
    disbursed in stages depending on the progress.
    Repayment For carrying out repairs/ renovation I alterations to the
    house/flat: Loan along- with interest is to be re-paid in EMIs
    within a period of 15 years inclusive of moratorium period, if
    any.
    For Others: Loan along-with interest is to be re-paid in EMIs
    within a period of 30 years inclusive of moratorium period, if
    any.
    Rate of Interest As per Bank’s guidelines in force.
    Charges As per Bank’s norms in force.
    Documents As per Bank’s guidelines
    required
    Other Terms No Pre payment charges, however, a flat pre-payment charge
    and Conditions of 2% be recovered from all other borrowers, i.e., on fixed
    rate housing loans, who intend to shift their Housing Loan
    Accounts to some other Banks / Financial institutions by
    way of availment of loan from such banks / financial
    institutions
    CIC Mandatory to be obtained.

    Above are only salient features of the scheme. For details please contact your
    nearest branch of PUPGB.

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