Naini Home Improvement Loan

Purpose

For repair and renovation of existing house property.

Purchase of furniture/Fixtures/furnishings/ other gadgets such as fan/ geysers/ air conditioners/ water filter/ air purifiers/ heaters /desert cooler, etc.

Eligibility:

All individual who own in his/her name the house property having value minimum three times of the loan applied. The residual life of the House/Flat to be repaired must be more than the period of loan plus 10 years, report of bank’s approved architect/valuer must be obtained in this regard.

Age :

Minimum age of the applicant must be 21 years; however the minimum age of the co-applicant/s can be 18 years. Maximum age of 70years for salaried & 75 years for others

Maximum Amount of Finance :

Rs.50.00Lakh

Margin :

25% of cost of repair Of House property

Features :

No Personal Guarantee.

Repayment period of 15years.

Processing & Other Charges :

As per banks' Service Charges Booklet

Processing Charges :

0.50% of loan amount (Minimum Rs.500/- & Max Rs.10000/-).

Documentation Charges:

Loan Amount Applicable Charges
Up to Rs.25000/-Nil
Above Rs.25000/- to Rs.2.00 LakhRs.500/-
Above Rs.2.00 Lakh to Rs.5.00 LakhRs.1000/-
Above Rs.5.00 Lakh to Rs.25.00 LakhRs.4000/-
Above Rs.25 Lakh to Rs.50.00 LakhRs.6000/-
Above Rs.50.00 Lakh to Rs.2.00 CroreRs.8000/-
Above Rs.2.00 CroresRs.10000/-

NAINI HOME IMPROVEMENT (Floating Rate of Interest)

Spread over NRLLR (In %)
If Credit Insurance Taken IN Housing Loan1.00
If Credit Insurance not Taken IN Housing Loan1.05

NAINI HOME IMPROVEMENT (Fixed Rate of Interest)

If Credit Insurance Taken IN Housing Loan3.00
If Credit Insurance not Taken IN Housing Loan3.05

FINANCING AGAINST IMMOVABLE PROPERTY (LAP) : Floating Rate of Interest

Spread over NRLLR (In %) Spread over NRLLR (In %)

For Individual Borrower/Non Individual Borrower

Overdraft Term Loan
CIBIL Score 850 or Above / CMR-11.601.75
CIBIL Score 750 to 849 / CMR-2 & 31.752.00
CIBIL Score 700 to 749 / CMR-4 & 5 and unrated2.252.50
CIBIL Score 650 to 700 / CMR-6 & 72.752.75
CIBIL Score below 650* / CMR below 7*3.003.00
Note: No fresh proposal or enhancement to be undertaken under CMR ratings CMR-8 to 10 or below 650 CIBIL score.

FINANCING AGAINST IMMOVABLE PROPERTY (LAP) : Fixed Rate of Interest

Spread over NRLLR (In %) Spread over NRLLR (In %)

For Individual Borrower/Non Individual Borrower

Overdraft Term Loan
CIBIL Score 850 or Above / CMR-1NA3.75
CIBIL Score 750 to 849 / CMR-2 & 3NA4.00
CIBIL Score 700 to 749 / CMR-4 & 5 and unratedNA4.50
CIBIL Score 650 to 700 / CMR-6 & 7NA4.75
CIBIL Score below 650* / CMR below 7*NA5.00
Note: No fresh proposal or enhancement to be undertaken under CMR ratings CMR-8 to 10 or below 650 CIBIL score.