www.jkbank.net : Jammu & Kashmir Bank Ltd Housing Loan

[MariPriya]

Housing Loan Scheme
Quantum of loan
** For Construction /Purchase 60 months net salary or 75.00 Lacs whichever is lower.
** For repairs/renovation 20 months net salary, subject to a maximum of 10.00 Lacs.
** For purchase of land: 20 months net salary/income subject to maximum of 5 Lacs within J&K and 10.00 Lacs outside J&K.
** Also as an incentive for small borrowers, the loans upto 1.5 Lacs granted for repairs/renovations of existing houses would now be secured by third party guarantee of two persons or such other security as is deemed appropriate by the Bank.

http://www.jkbank.net/customerHousingLoans.php

Eligibility
** Employees of Govt. , Semi-Govt. Dept., Civic Bodies, PSU's with minimum 5 years service.
** Reputed Businessmen with minimum 5 years standing.
** Professionals & Self employed like Doctors ,Engineers , CA's , Advocates with minimum 5 years standing

Security
** Mortgage of the house/property to be purchased/ constructed.
** Third party guarantee of one person or Assignment of LIC policies, pledge of govt. securities etc.
** Negative lien on the property to be repaired/renovated without mortgaging the same to the Bank.

Repayment
** For construction of new house 20 years including 9 months moratorium in equal monthly installments.(Applicable to new loans and disbursements only)
** For addition / Renovation 10 years Including 2 months moratorium in equal monthly Installments.

Margin
** 15% for construction/purchase of built house flat.
** 20% for renovation/purchase of land.

Processing charges
** 0.25% of loan amount

Registered Office
Jammu & Kashmir Bank Ltd
M A Road
Srinagar 190 001
Jammu & Kashmir

[Guest]

I WANT to construct house on my land cost of land rs 1000000.the land is situated near ITI Baramulla.MY account is jk bank achbal doabgah branch and i am self employed.Ican submit my income tax return of last three years. how much loan jk bank can give,please inform intrest rate and how much time bank will require to sanction my loan

[bhushanbhat72@gmail. com]

I want to renovate my house. Total estimate costs Rs.6 lakh only. Can I apply?