KSFE Housing Loan
For what purposes can I avail of Housing Finance?
This finance is available for :
- Building your dream house
- Purchase of house plots
- Outright purchase of house/flat
- Renovation of existing house
Am I eligible for the advance?
You are eligible for the advance if you belong to one of the following categories:
- Salaried Person
- Professionals like doctors, engineers, chartered accountants, lawyers etc.
- Businessmen who are income tax assessees.
- Non-resident Indians.
- Persons earning rental income.
What is the maximum duration of the advance?
- You will have to repay the principal, along with the interest, within a maximum period of 360 months (i.e, 30 years) or attainment of 70 years of age whichever is earlier.
What is the maximum advance that I can obtain?
- The amount of advance is limited to such amount, the corresponding monthly instalments of which does not exceed 45% of your monthly income.
What is the interest rate of the advance?
Amount & Period Interest rate
Rs.10 lakhs and below 9.00 % p.a (Yearly Diminishing)
Above Rs.10 lakhs and upto 75 lakhs 9.75 % p.a (Yearly Diminishing)
What are the securities acceptable for availing of the advance?
- For the purchase of plot, the advance will be limited to 75% of the documented value of the plot.
- In the case of outright purchase of plot and house, the advance will be limited to 75% of the documented value of the plot and house.
- For house construction, the advance amount will be limited to 75% of the estimated
value of the house to be constructed.The land and/or house, as the case may be, will be the security for the advance.