We provide home improvement loans for the purpose of repair, renovation or extension of an existing house or flat. The loan amount can be between 1 Lakh to 15 Lakh with LTV up to 75%. The loan tenure can be selected between a minimum of 1 year and maximum of 10 years with the facility to foreclose the loan without any prepayment penalty or foreclosure charges.
Salaried individual with minimum 2 year's service with 6 months or more in the current job.
Self employed/businessmen should have been in the business/profession for a minimum period of 2 years .
The entry age of borrower/s shall be less than 55 years at the time of availing the loans.
Processing fees are applicable at the time of disbursement amounting to 1% of the sanctioned loan amount, subject to a minimum of 3,000 and maximum of 15,000 plus GST.
Late payment charges will be added to the monthly interest at 2% per annum over and above the applicable interest rate on the overdue amount for the period of default.
The borrower also needs to pay legal and technical fees on an actual basis.
Cheque/ECS/ACH Bouncing charges will be 300 plus GST.