![]() ![]() We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. ![]() Our goal is to give you the best advice to help you make smart personal finance decisions. Our editorial team does not receive direct compensation from our advertisers.īankrate’s editorial team writes on behalf of YOU – the reader. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. ![]() Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We do not include the universe of companies or financial offers that may be available to you.īankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. But this compensation does not influence the information we publish, or the reviews that you see on this site. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. The offers that appear on this site are from companies that compensate us. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.īankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Borrower to maintain the property in good condition and ensure to pay all taxes and charges on time.We are an independent, advertising-supported comparison service.House property to be insured against fire, earthquake and other calamities by the borrower at his cost with usual Bank clause.Self-occupied and owned residential property by the borrower.Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actual.Rate of Interest to be reset in every five years.As on date, the rate of interest is 12.15% (Fixed).The rate of interest to be charged would be as per the extant guidelines issued.Settlement of loan along with accumulated interest is to be met by the proceeds received out of sale of residential property or prepayment by borrowers and his next of kin.Loan shall become due and payable only when the last surviving borrower dies or opts to sell the home or permanently moves out of the home to an institution or to relatives.Borrower need not pay the amount in his/her lifetime.Minimum tenure of 10 years and maximum tenure of 20 years, if the borrower's age is above 65.Minimum tenure of 15 years and maximum tenure of up to 20 years, if the borrower's age is between 60 and 65.In case the property located in other than Metro/Urban – 70% of the assessed value of the property.In case the property located in Urban – 80% of the assessed value of the property.In case the property located in Metro – 90% of the assessed value of the property.Loan amount is inclusive of future interest up to maturity.Loan eligibility depending on value of property.Number of surviving spouses on the date of sanction should not be more than one.Minimum age of borrower to be 60 years and that of the spouse to be 55 years.Individual, either singly or jointly with spouse as co-applicant.Owns self-occupied residential property in India.The product is available only to senior citizens of India.Lump-sum available for medical purpose only.Income in the form of monthly payout or combination of monthly payout and lump sum.To provide a source of regular income for senior citizens who own self occupied house property in India.
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