1. Housing Loan
ORIENTAL HOME LOAN SCHEME
Purpose 1. Purchase of land and construction of a house thereon.
2. Construction of house, where in the plot/land already
owned by the applicant.
3. To buy built up (new or second hand) / semi built up house
or flat.
4. To Extend/improve/repair, the existing house or flat.
5.To buy a flat under construction or proposed to be
constructed
6. For Home furnishing, furniture / fixtures embedded to
structure or otherwise..
Eligibility Individuals or group of specified individuals (co-borrowers)
Criteria including HUF having an assured source of regular income
viz. salaried / self-employed persons, professionals,
businessmen, farmers etc.(including Staff & NRIs )
Maximum Loan limit For Business man-40 times Gross monthly Income and for
salaried person -60 times Gross monthly Income with a
condition that the net take income(gross Annual income
minus all existing deductions,IT deduction & Proposed loan
instalment)is in 20-40% slab as per Gross Annual income
Housing Loan ---No upper ceiling (*conditions apply).
Home furnishing Loan --Maximum Rs. 10.00 Lacs(restricted
to 30% value of existing house),
The maximum permissible Bank finance can be calculated on
the basis of income of individual as well as joint borrower , as
the case may be.
Minimum age 18 years as on date of application
Maximum age Upto 60 years of age or age of superannuation,which ever is
earlier, however in case of availability of joint/coborrower and
one borrower is having comparatively younger age in
consonance with repayment period,then it can be considered
upto 65 years of age for elder coborrower and 60 years of age
for younger coborrower
Primary/Collateral Security Primary--Equitable/ Registered Mortgage of financed
property/property proposed to be furnished
Collateral--Nil
Margin Upto Loan Rs. 20.00 15%
Lacs
Above Rs. 20.00 Lacs 25%
For Home furnishing 25% of total cost of

2. renovation/furnishing
Rate of Interest Click here to view Rate of Interest
Concession in rate of interest to captive and loyal customers,
group of employee borrowers. (Conditions apply. )
Interest switchover option to existing During the currency of housing loan, if borrower feels that
borrowers. the current prevailing card rate of Home loan is in favour as
compared to interest actually applied in his account ,he can
use the switchover option.
Process fee 0.50% of the loan amount, subject to maximum of Rs. 20000/-
plus service tax, if any
Other Charges Prepayment Penalty / documentation charges/ upfront fee-
NIL
Repayment For Home Loan -Upto 300 months, preferably in EMI
Period including the moratorium period of 18 months
For Home Furnishing Loan-Maximum 120 months
Second home loans, takeover of home loan accounts, loan to NRI's facility is available as per the
detailed scheme.
List of Documents/ Information to be provided by the applicant along with Loan Application Form.
(These documents are indicative, relevant documents be obtained on case to case basis)
Loan application Form-cum-process note LF-2/Passport size photograph of applicant and co-applicant, ID
Proof i.e. copy of valid passport / driving license / pan card/ voter ID card /Copy of bank account statement for
last 6 months, Saving as well as current accounts. In case of bank take over, copy of home loan account
statement for the entire period shall be obtained/Also a certificate from the lending institution giving pre-
closure amount./Affidavit as per Format.
Title clearance report from advocate and valuation report from architect on Bank's panel alongwith all
required Documents/papers relating to title deeds of property be submitted