Low Cost Housing
Housing is one of the key Basic Human needs. Having an own house is still dreams to many, especially to people in rural areas. Nabil Bank aims to provide financial assistance to the underprivileged by offering Low-Cost Housing. The assistance can be used by the deprived sector to purchase a house, construct a house on self-owned land, and purchase land for the construction of the house. The assistance also helps small farmers/firms involved in commercial farming meet their requirement.
Features
Interest rate: Base Rate + premium up to 7%
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Loan Size up to Rs. 0.7 M
Age Limit of 18 years to 65 years
Tenure from 1year to 15 years (including moratorium period)
Disbursement in maximum 4 installments.
Charge over L/B financed by the bank by a registered encumbrance on the property
Moratorium period of 12 months or the construction period whichever is earlier.
Repayment Mode On EMI Basis
Actual Fee on CIC and STR and 0.75% of the total limit on LAF
TAT: Approval confirmation within 7 working days after submission of all required documents