Home loan criteria

Eligibility :

Individuals over 21 years of age and younger than 70 years

Amount of Finance:

For Borrowers between 21 years to 45 years:

1. Salaried Persons: 60 times the Net Monthly Income (NMI)
2. Self Employed: 5 times the Net Annual Income (NAI)

   For Borrowers over 45 years:

3. Salaried Persons: 48 times the Net Monthly Income (NMI)
4. Self Employed: 4 times the Net Annual Income (NAI)

Processing fee :

0.50% of the Loan Amount with maximum cap of `10,000/-

Other Charges :

Lawyer’s, Valuer’s fee etc to be borne by the borrower on the basis of actual
cost

EMI/ NMI Ratio :

1. Net Annual Income Up to `2.00 lakhs: EMI/NMI Ratio 35%
2. Net Annual Income From `2.00 lakhs to `5.00 lakhs: EMI/NMI Ratio 50%
3. Net Annual Income Above `5.00 lakhs to `10.00 lakhs: EMI/NMI Ratio 55%
4. Net Annual Income Above `10.00 lakhs: EMI/NMI Ratio 65%