Jammu & Kashmir Bank Housing Loan

CIBIL Score

• CIBIL score preferably above 750

Required Documents

• Application form
• ID proof documents
• Address proof documents
• Income documents
• Property documents

Loan Processing Charges

• 0.25% + GST (min.: Rs.5,000; max.: Rs.50,000).

Features

• Term loan offered for construction/purchase of house/flat with the option of supplementary financing for renovations.
• Quantum of financing up to 75% offered. Margin is between 10% and 25%.
• Moratorium period of up to 12 months provided: 12 months for applicants from J&K, 9 months for applicants from other states (for the purpose of constructing a house).
• Purchase of plot of land for construction of residential house thereupon, provided a declaration is obtained from the borrower that he/she will start constructing a house on the said plot, with the help of bank finance or otherwise, within a period of 2 years failing which interest rate applicable to Commercial Real Estate shall be charged wef account open date.
• Construction of House/Flat/ Dwelling unit
• Outright Purchase of an existing house/ flat/dwelling unit (fully built/ under construction)
• Supplementary finance for repairs/ renovations/ additions/ alterations/ completion of an existing house/ flat/ dwelling unit, constructed/purchased from own sources or with the help of bank finance, whether liquidated or outstanding.
• Housing loan can be sanctioned for construction/ purchase of 2nd dwelling unit per family or purchase of land/plot irrespective of whether the 1st dwelling unit has been constructed/ purchased from own sources or bank finance.