Housing loan is sanctioned for acquiring ready built house/flat and for construction of residential houses. The application should be accompanied by approved plan/detailed estimate.
The loans will be generally restricted to individual members. However exemption can be considered in cases where the loan is proposed to be utilized for purchasing ready built house or the new house proposed to be constructed on land, is in the joint names of the applicant and his/her spouse or dependant. The applicant should have a clear and marketable title to the property. The applicants should have sufficient repaying capacity for repaying the loan.