Salient features:

• This is a Reverse Mortgage Loan enabled Annuity Product.

• A senior citizen above the age of 60 years, individually or with spouse of 55 years (minimum age) can avail the loan. Blood relatives of above 60 years are also eligible.

• RMLeA is sanctioned against mortgage of self acquired, self occupied and self -owned residential property by eligible borrower. Loan against ancestral property with clear and marketable title can be considered at the discretion of the Bank.

• Reverse Mortgage Loan limit shall be ranging from 60% to 75% of the value of property depending upon the age.

• Our tie-up with SUD Life Insurance assures life-time annuity till the demise of the last surviving borrower.

• Option of 25% lump sum and rest in annuity OR higher annuity on 100 % Reverse Mortgage Loan.

• Option of return of premium i.e. principal loan OR without return of premium but with higher annuity assured product.

• Despite premature adjustment of Reverse Mortgage Loan flow of annuity continues for lifetime.

• Lowest rate of interest at Base Rate+1.50% at present subject to reset after every two years.