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Loans

Reverse Mortgage Loan

Senior homeowners to receive payments from the equity in their home

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Receive benefit of loan payments 

Equity benefit against residential properties

Loan Amount

Minimum - Rs. 5,00,000
Maximum - Rs. 100,00,000

Attractive Interest Rates

Starting from 11.0%

Features and Benefits

Interest Rates:

Type of Loan Applicable Pricing For PSL cases Applicable pricing for Non-PSL cases
LAP ( Income Based , GTP,GPR)  MCLR + 2.50%= 11.0% p.a. MCLR + 2.75% = 11.25% p.a.

Compounding of interest rate would take place as follows:

  • Monthly compounding when the borrower has opted for a monthly annuity method or a lump sum method
  • Quarterly compounding when the borrower has opted for quarterly annuity method
  • Half-yearly compounding when the borrower has opted for half-yearly annuity method
  • Annual compounding when the borrower has opted for annual annuity method

Marginal Cost Based Lending Rate - 8.50%


MCLR Reset frequency for Loan against property - Half Yearly


Base Rate - 8.95%

MRR - 13.70%
BPLR - 16.70%


Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.
For further details, please Click here

HAVE QUERIES?

  • What is the time-frame for application decisioning?

Bank will convey its decision within 15 working days from the date of receipt of the application provided the application is complete...

  • What is the margin for Education loans?

No margin for education loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies...

  • What is the role of a guardian/parent in an education loan?

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily...

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