Plot Purchase Loan
- Customers interested in buying a plot, can avail Plot Purchase Loan to purchase residential plot in SMHFC approved Govt / Private projects
- Maximum loan amount is Rs. 20 lakh and maximum tenure is 15 years.
- Purchase a residential plot using SMHFC's Plot Purchase Loan.
Eligibility & Documentation
We at SMHFC understand that every customer has varied needs, sources of income and documentation availability. We provide tailor-made solutions based on customer requirements. The final eligibility of a customer is decided on a number of factors including (but not) restricted to income stability, repayment capacity, past credit record and positive verification
Rate & Charges
Loan Terms Loan Amount Maximum Rs 20 lakh higher amounts can be considered on exception basis. Tenure Maximum 15 Years Interest Rate 11% onwards Processing Fee 2% - 3% (+GST) of the loan amount Prepayment Charges NIL Loan to Value Maximum 80%. Security Equitable mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary. Repayment Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs). MITC SMHFC will adhere to the Most Important Terms and Conditions ("MITC") on all loans as prescribed by the National Housing Bank. Other Conditions SMHFC will facilitate customers to take a mortgage redemption policy through SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure. To read document retrieval and other charges, Click HereSwipe Table
Rate / terms could be subject to change at management's discretion