Home Loan

• Interest Rate / PLR
• Personal Loan
• House Rent Loan
• Short Term Edu. Loan
• Education Loan
• Doctor Loan
• Two Wheeler's Loan
• Car Loan
• Home Loan
• Gold Over Draft
• General Credit Card
• Pensioner Loan

Learn more about our Home Loan Scheme under TMB Retail Loan Products.

Our home loan scheme helps you to buy / build your dream home as per your choice at the best possible interest rate and longer repayment tenure with easy documentation and quick processing. Loans under this scheme are sanctioned based on the applicant's past repayment record as well as his current income earnings.

Purpose

• To Construct a New House
• Purchase a New House
• Purchase a New Flat
• Fund the cost of Extension / Renovation
• Purchase of Old House / Flat (#)
• Take over from other Banks / Fls.(#).

Eligibility

Any individual/s aged between 18 and 50 years with sufficient repayment capacity.

Loan Quantum

Up to Rs. 80 Lakhs for Purchase and upto Rs. 15 Lakhs for Renovations etc.

Rate of Interest

• Upto 5 Years Loan - PLR - 3.00% (10.00% p.a.) Upto Rs. 20 Lakhs.
• Above 5 Years Loan - PLR - 2.50% (10.50% p.a.) Upto Rs. 20 Lakhs.
• Above Rs. 20 Lakhs - PLR - 2.00% (11.00% p.a.) Irrespective of Period.
• Current Prime Lending Rate (PLR) is 13.00% p.a.

Margin

• For New Flat - 25%
• Plot Purchase and Construction of House - 10%
• Renovation of House below 5 Years Old - 25%
• Renovation of House above 5 Years Old - 40%

Guarantee

Third party guarantee required.

Repayment

Maximum of 15 Years Equated Monthly Installments. For Salaries persons, EMI should not exceed 40% of take home salary.

Tax Benefits

Learn more about the Tax Benefits of Home Loan from TMB

Security

Equitable mortgage of house / flat to be financed.

Penal Interest

Any irregularity or default in repayment will attract penal interest of 2.00% p.a. over and above the above rate of interest on the balance outstanding.

Processing Charges

• 0.5% of the Loan Amount.
• Subject to Min. Rs. 500.00 and Maximum Rs. 5000.00

Documentation

Simple documents as per our Bank Norms.

Tax Benefits:

Get Complete Details about Home Loan Tax Benefits.

Loan application has to be accompanied by:

• Proof of Income (IT Return / Balance Sheet / Salary Certificate / Others).
• Civil Engineer's Estimation.
• Copy of Title Deed of the Property, if applicable.
• Plan, if applicable.
• Letter from Third Part Guarantor, if applicable.

# For purchase of Old House / Flat: House / Flat should be constructed within 20 years and residual life of the House / Flat should be 15 years and above. The Residual life should be certified by our Approved Engineer. Valuation of the property should be made by Approved Engineer and the Branch Manager.

# For take over from Other Banks / FIs: Loan amount will not exceed actual amount outstanding with the other Banks / FIs. Evidence should be obtained from the other bank/FIs that, it is a regular account. Repayment shall be The Residual Period with the other Banks / FIs. In case, if the customer insists for a longer repayment period than the residual repayment, it may also be considered provided the repayment falls with the residual life of the House / Flat. A Residual life certificate is to be obtained from our Approved Engineer.

All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Service Tax on All Service Charges extra wherever applicable.