Vijaya Bank

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Last Modified : Nov 27, 2007 1:51 PM

LOANS & ADVANCES --> GOVERNMENT SPONSORED SCHEMES --> golden jubliee rural housing scheme
Golden Jubliee Rural Housing Scheme

	Objective
	Operational Area
	Quantum of Loan
	Period of Repayment
	Instalment to Income Ratio
	Security
	Rate of Interest
	Processing Charges
	Fair Practice Code on Lenders Liability

The salient features of the scheme are outlined below

Objective
The objective of the scheme is to address the problems of Rural Housing through improved access of housing credit which would enable an individual to build a modest new house or improve or add to his existing dwelling unit in rural area.

Operational Area
Rural area for the purpose of the scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50,000 as per 1991 census.

Quantum of Loan
Up to Rs. 5.00 lakhs for construction of new dwelling unit. Up to Rs.50,000/- for up-gradation / major repairs.
Period of Repayment
The loan is to be repaid within a maximum period of 15 years in suitable instalments.

Instalment to Income Ratio
Normally up to 35% of the gross income can be taken as repaying capacity of the borrower.

Security
Mortgage of the property or any appropriate security.

Rate of Interest
As applicable to housing loan.

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