| PURPOSE |
- General purpose loan against mortgage of immovable property(existing mortgage against Home Loan only)
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| ELIGIBILITY |
- Home Loan borrowers whose loan is a Standard Assets with a satisfactory repayment record of 1 year
- Tenant farmers, Oral Lessee, Sharecroppers
- Maximum No of occasions to avail the loan during the tenure of Original Housing Loan -Twice
|
| LOAN AMOUNT |
- 20 times of NMI for salaried borrowers.
- 1.5 times NAI for professionals,self-employed,businessmen
and agriculturist.
- with provisions for clubbing income of his/her spouse (after netting EMIs of existing HL & other P-segment loans availed ,if any)
- The aggregate EMI (of existing HL,other P-SEG loans and proposed special personal Loan to NMI should not exceed 65%)
|
| MARGIN |
|
| INTEREST RATE |
- 0.5% above existing the Home Loan interest rate applicable to the repayment tenure opted by the borrower (floating rate only), prevailing as on the date of sanction of 'MRB-Home Line'.Interest will be applied on monthly compounding basis
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