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Cent Home Loan Scheme

GET BENEFIT OF MARKET LINKED (REPO RATE ) & RATING BASED INTEREST RATE BENEFIT BY AVAILING HOME LOAN ( REPAYMENT UP TO 30YEARS & MAXIMUM AGE 75 YEARS )

Purpose :

  • For construction/ acquiring of new home /flat or for acquiring existing home / flat which has remaining life of applied loan tenure plus 10 years.
  • For repairs/renovation/alteration of existing home/flat

Eligibility :

  • Individuals , Groups of individuals , who have attained 18 years ( completed) as on date of application and including Cooperative Societies , having a legal, identified and regular source of income either singly or jointly with Parents, sons, spouse.
  • NRI are also eligible for Housing loan,

Quantum of Loan :

Net annual income& repaying capacity of applicant based on EMI/NMI Ratio

  1. Net Annual Income-wise graded ratio is as under
    Net Annual Income EMI/ NMI Ratio (Maximum)
    <=Rs.1.20Lakh 20%
    >Rs.1.20L & <=Rs.3.0 Lakh 30%
    >Rs.3 L & <=Rs.5.0 Lakh 55%
    >Ea.5 L &<= Rs.8.0 Lakh 60%
    >Rs.8 L & <= 10 Lakh 65%
    >Rs. 10.0 Lakh 66.67%

    NMI (Net Monthly Income) = Gross Monthly Income (GMI) – all statutory deductions & taxes. (Excluding all existing and proposed EMI).
    EMI for the purpose of computing the EMI/NMI ratio will include all EMI towards existing loans and the proposed loan, therefore, existing EMIs should not be deducted from Gross Monthly Income (GMI) for the purpose of computation of NMI.
    Note : permissible loan amount will be assessed on the basis of the lower value arrived at from undernoted eligible criteria :
    Maximum permissible LTV Ratio
    and
    Permissible EMI/NMI Ratio.
  2. Gross annual income should include only regular income from all sources. Windfall income or income of temporary nature like overtime, etc. should be excluded while arriving at Gross Annual Income, even if such income stream is regular.
  3. The income stated by the applicants should be backed by documentary evidence.

Margin :

( FOR SALARIED BORROWER )

  1. 90% of the cost for loans up to Rs.30 lakh,
    80% of the cost for loans above Rs.30.00 lakh to Rs. 75 lakh and
    75 % of the cost for loan above Rs. 75 lakh
    subject to EMI/NMI ratio norms.
    (cost above means of the cost of construction / purchase of new / existing house/flat or cost of extension of existing house/flat (including cost of land).
  2. 75% of the cost of repairs/renovations/extension/alterations of existing house/ flat subject to a maximum of Rs.10.00 lakh subject to EMI/NMI ratio norm .
  3. 75% of the cost(registered value) ofPlot after complying with EMI/NMI ratio norm.
    Plot on standalone basis should not be financed.Cost of the Plot should not exceed 75% of the total cost of housing unit.

( FOR NON-SALARIED BORROWER )

  1. 80% of the cost for loans up to Rs.75 lakh
    75% of the cost for loans above Rs 75 lakh
  2. 75% of the cost of repairs/renovations/alterations of existing house/ flat subject to a maximum of Rs.10.00 lakh subject to EMI/NMI ratio norm.
  3. 75% of the cost of extension of existing house /flat or cost(registered value) ofPlot after complying with EMI/NMI ratio norm .
  4. Plot on standalone basis should not be financed.Cost of the Plot should not exceed 75% of the total cost of housing unit.

Repayment:

  • Maximum period of 30 years or on borrower reaching the age of 75 years whichever is earlier.
  • 10 years in case of Repair/Renovation

Rate Of Interest :

REPO BASED LENDING RATE (RBLR)

  1. For Low Risk category : REPO+ 2.85 % + 0.00 % = 6.85 %
  2. For Medium Risk Category : REPO+ 2.85% + 0.25% = 7.10 %
    ( REPO RATE 4.00%)

Moratorium period:

Maximum upto 36 months

Processing Charges:

0.50% of the Loan Amount subject to maximum Rs.20,000/-

Loan Application Forms

Loan type Forms
Application Form 1 for Loan of Rs.5 Crore to Rs.15 Crore Download Word Document Format
Download PDF Format
Application Form 2 for Loan of Rs.15 Crore to Rs.40 Crore Download Word Document Format
Download PDF Format
Application Form 3 for Loan of Rs.40 Crore and above Download Word Document Format
Download PDF Format
Standardised Common Loan Application Form for Agriculture Credit Download PDF Document Form
Common Application Form (Required for all loan schemes). Download Word Document Format
Download PDF Format
Cent Buy Download Word Document Format
Download PDF Format
Cent Computer Download Word Document Format
Download PDF Format
Cent Liquid Download Word Document Format
Download PDF Format
Cent Mortgage Download Word Document Format
Download PDF Format
Cent Trade Download Word Document Format
Download PDF Format
Cent Vyapari Download Word Document Format
Download PDF Format
Housing Loan Application Download Word Document Format
Download PDF Format
Cent Home Loan Plus Download Word Document Format
Download PDF Format
Cent Suvidha Download Word Document Format
Download PDF Format
Cent Vehicle Download Word Document Format
Download PDF Format
Cent Vidyarthi Download Word Document Format
Download PDF Format
Cent School Download Word Document Format
Download PDF Format
Teacher's Loan Download Word Document Format
Download PDF Format
Cent Rental Download Word Document Format
Download Word Document Format
Download PDF Format
Download PDF Format
Cent Doctor Download Word Document Format
Download PDF Format
Cent Swabhiman Download Word Document Format
Download PDF Format
Personal Loan for Pensioners Download Word Document Format
Download PDF Format
Personal Loan to Employees of Corporate Sector Download Word Document Format
Download PDF Format
Personal Loan to Employees of Non-Corporate Sector Download Word Document Format
Download PDF Format
Loan to LIC Agents Download Word Document Format
Download PDF Format
Loan to MSEs Download PDF Format
Cent Sahyog (form for upto 10 lakhs) Download PDF Format
Cent Sahyog (form for above 10 lakhs) Download PDF Format
Application for Agricultural Loans Download PDF Format
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