![]() ![]() Bank reserves the right to seek additional collaterals Mortgage of residential property in favour of Bank * Fresh terms, as at the time of rollover, shall be applicable. ![]() * 15 years, with a provision to roll over, in case of need, after revaluation Borrowers consent for this will be obtained upfront. Periodic monthly payments will be based on such revaluation and the Loan to Asset Value shall be based on such revaluation. Revaluation of property to be done once in 3 years and interest rate will be reset once in 5 years. The maximum eligible lumpsum is restricted to Rs.15 lakhs. Lump sum up to 20% of the eligible loan amount should be considered only if the amount is utilised for meeting medical expenses of the Reverse Mortgage Loan Applicant/s. Loan will be disbursed by Bank on regular monthly terms as annuity. The realizable value of the property is calculated at 10% less than the Market Value assessed by Bank’s Panel Engineer. The amount of loan will depend on realizable value of the residential property as assessed by the Bank. (Speculative, trading purposes shall not be permitted) For supplementing pension / other income Loan to meet Medical, emergency expenditure for maintenance of family * The residual life of the property should be more than 20 years However, inherited residential property if it is devolved on partition or owing to being the sole legal heir also can be accepted provided the title of the property is free from encumbrance. * The property should be free from encumbrance and is saleable and the house / flat to be located in India. * They should be owner of self acquired residential property with absolute, clear title / conveyance and self-occupied and it should be principal residential house / flat, located in India. Married couples will be eligible as joint borrowers for financial assistance provided one of them is above 60 years of age. * Senior Citizens above 60 years, including retired staff of our Bank. Helpline for Women in Distress – 7827170170.RBI Monetory Museum Bank Notes and Security Features.Small Farmers’ Agri-Business Consortium.Deposit Insurance & Credit Guarantee Corp. ![]()
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