Deposit Rate of Interest W.E.F. 14/01/2023
| *New Schemes* | |
| Finco Pankh 777 Days | 8.31% |
| Finco Laxmi 444 Days | 7.50% |
| Finco Dhan Vrudhi Above 2 Year to 3 Year | 6.80% |
| Finco Astha Above 3 Year to 5 Year | 7.11% |
| Finco Akshay Above 5 Years | 7.61% |
| Finco Balvikas 1111 Days | 7.50% |
| Recurring Deposit for student of school/college | 8.00% |
| Above 1 Year to 2 Year(Identity Card compulsory) | |
| Recurring Deposit for General(Above 1 year to 2 year) | 7.50% |
| Duration of Rates | Rate of Interest |
| 15 Days to 45 Days | 3.00% |
| 46 Days to 90 Days | 3.50% |
| 91 Days to 180 Days | 4.50% |
| 181 Days to 12 Months | 4.75% |
| Above 1 Year to 2 Year | 6.00% |
| Senior Citizens will get 1% more. (Above 1 To 2 Year Deposit) | |
Eligibility
1. Take Home
- Where the Combined GTI of applicant, co-applicant(s) = 70%
- Is less than Maximum Income Not chargeable to tax = 50%
- Is more than MINCT (Minimum Cut) but less than Rs. 8Lacs = 40%
- Others = 30%
- 70% of GTI + Depreciation + Exempt Income Cross- 5 To 8 lakhs 60% & Above 8 Lakhs towards monthly EMI = 70%
2. Repayment Capacity (Total Annual Income –Total Approx Annual Exp. –
Total Annual Loan Liabilities (EMI*12) = Total Approx Annual Savings.
(Approx finance up to 50 to 60 % on Total Approx Annual Savings)
3. Purchase of Residential Property, 80% loan amount of sale deed, satakhat, Construction cost will consider. Additional/ supplementary Finance Rs. 5 lacs to the owner of house/ flat only for repairs ,additions, alterations etc…. irrespective of whether the house/flat is owner occupied or tenement occupied offer obtaining such security as the banks may deem appropriate. BOD /loan committee have reserve right to consider loan amount.
4.Maximum Loan Amount & Margin: Individual housing loans up to a maximum of Rs.60 lacs per beneficiary of Dwelling unit. Subject to prudential exposure limits of RBI from time to time.
Period of Loans:
- Housing loan may be repayable within a maximum period of 20 yrs. Including Moratorium of repayment holiday.
- Processing Fees : – Processing Fees 0.50 % on Sanction Amount + GST on PF
- Moretorium: Home Loan for construction maximum 18 month and as per guideline of RBI from time to time.
- Till completion of consturction, or 18 months from the date of disbursement of first installment of the loan which ever is earlier.