• Tollfree no: 1800-180-7777
  • Mail Us: contacthpgb@hpgbank.co.in

House Loan

HOUSE LOAN

ELIGIBILITY:

  • Individuals, joint owners are also eligible

PURPOSE:

  • For construction of house or purchase of house or flat.
  • For carrying out repairs/renovation/addition/alteration to house.

MARGIN NORMS:

  • For house loans upto Rs75 lakh -20%.
  • For house loans above Rs 75 Lakh 25%.
  • Purchase of Land/Plot for House building 40%.

RATE OF INTEREST:

  • 9.40% PA on floating rate.
  • For central/ state government employee/defense personnel and paramilitary forces, the rate of interest is 9.30%PA floating.

SECURITY:

  • Registered mortgage of plot and house to be constructed.
  • Where the mortgage is not possible in case of ancestral property (lal dora) sanctioning authority may accept mortgage of some other property/pledge of government security/NSCs/KBPs/IBPs and PSU Bonds/Banks FDR/LIC Policies (Surrender value) etc. The value of security so obtained should be equal to 125% of the loan account.
 

REPAYMENT:

  • Registered mortgage of plot and house to be constructed.
  • Loan along with interest is to be repaid in equal monthly installments within a period of 25 years (15 years in case of repairs/renovation/addition/alteration, inclusive of moratorium period of 18 months (6 month in case of repair and renovation)