Purpose
For purchase or construction of house or flat.
For Repair/Renovation of existing house or flat
Home Loan
For purchase or construction of house or flat, or for repair/renovation of existing house or flat.
Age of applicant
Entry age is 18 years and exit age is 70 years
Income
Salaried: Minimum three years of Service (Including previous employment / experience) & confirmed in present employment
Business: Last three years IT Returns
Take home pay
40% of Gross pay as Net Take Home Income or Net income of ₹20,000/- p.m. post all EMI deductions (existing and proposed) should be available.
Quantum of Loan
60 Times of Gross Monthly Income
5 Times of Annual income.
Maximum loan amount – 3 crore.
Margin
Upto ₹25.00 lakh - 10 %
Above ₹25.00 lakh upto ₹75.00 lakh - 20%
Above ₹75.00 lakh - 25 %
Rate of Interest
Rate of interest is subject to bank scheme guidelines, may change from time to time.
Please refer our Interest Rate site / visit our nearest branch.
Please refer our Interest Rate site / visit our nearest branch.
Period of Loan
Max 30 Years including Holiday period
Repayment
EMI – Repayment starts after 18 months of holiday period or completion of construction whichever is earlier.
Security
EM of house property purchased / constructed under the Home Loan is to be taken as security.
Processing charges
0.50 % of limit sanctioned
Documents Required
KYC documents of borrower and guarantors for address and identity
Proof of Business address in respect of Businessman or professionals
Proof of Employment in respect of salaried person
Bank account copy for six months to verify salary / other income / nature of other transactions
Balance sheets for past 3 F.Ys in case of Professionals, Businessman or self employed persons
Passport size photographs of borrower and guarantors
CIBIL / other CICs Report (2nd CIC report required if loan amount is 50 Lakhs and above)
Income proofs - Salary Certificate / Form 16 / IT returns for 3 Years
Land approval details (wherever applicable )
Building - Approved Plan and proceedings of the house
Agreement of sale, in case of purchase of flat or house
Property tax receipts wherever applicable
How to apply
Please contact nearest Puducherry Grama Bank’s Branch for more details
Ready to explore this loan further?
Visit your nearest branch to confirm eligibility, interest details, repayment options, and the full application checklist.
