ü All salaried individual working in government, semi government, autonomous, govt. corporations and private organizations etc.
ü All professionals like Doctors, Engineers, Bankers, Chartered Accountants, Cost & Management Accountants, Chartered Secretaries and Teachers etc.
ü Self-employed people along with salaried individuals.
Loan Term and Amount:
ü In case of land purchase and construction: Loan amount will be 30% for land purchase and 70% for construction.
ü In case of construction: Loan amount will be up to 85% of the construction cost if the group already has the land.
ü Loan period will be up to 20 years depending on the age of the applicants (Not over 65 years).
ü IIR will be within 50% calculated on combined income of the applicants & Co-applicants.
ü Applicants & Co-applicants will provide security cheques for their share of loan.
ü Registered Partition Deed.
ü Property will be mortgaged favoring National Housing.
ü All other terms will remain same as regular practices.
ü Loan will be disbursed in phases depending on the progress of the construction.