Housing Loan with Solar Rooftop | Kerala Grameena Bank (KGB) | Rural Bank

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Housing Loan with Solar Rooftop

Purpose

Purchase of house property.
Construction/extension of house property.
Purchase of ready built Villas.
For undertaking repairs, renovation, up - gradation, extension, ceration of additional amenities
Housing Loan for Second House.

Eligibility

Individuals and NRI having sufficient and regular income.
Age of the applicant shall not be more than 55 years.

Limit

For Residents 5 times of annual income
For NRI - 4 times of annual income

Margin

20 % of the project cost including the cost of setting up of Roof Top Solar system plant

Security

Equitable Mortgage of land and building constructed/to be constructed/to be purchased by Bank Finance. The value of the property should be atleast 125% ot the loan limit.
Hypothecation of Solar Rooftop Unit installed out of bank finance.

Repayment

Tennure upto 30 Years
Repayment holiday upto 18 months can be availed.

As applicable to General Housing Loan scheme