Individuals who are eligible for a Reverse Mortgage Loan:
Senior citizens of India (above 60 years of age) who own a residential property.
Check your borrowing limits
Minimum Limit - Rs. 5,00,000
Maximum Limit - Rs. 100,00,000
Loan up to 60% of market value of residential property depending on age of borrowers.
- The borrower shall maintain the home as their permanent primary residence
- The borrower shall regularly pay the property taxes and insurance
- The home is maintained to preserve its value
- The residential property must be free from any encumbrances