Housing Loan

Housing Loan
This type of loan will be provided to members for personal purposes to construct a new house. The total loan amount will not exceed 15% of the institution's total outstanding loans. For such loans, the investment can cover up to 50% of the total construction cost.

  1. Loan Limit:
    The loan amount provided to each individual will not exceed 10% of the institution's core capital fund.

  2. Loan Tenure:
    The maximum tenure for this type of loan will be up to 10 years.

  3. Grace Period:
    A grace period of up to 3 months can be provided for this type of loan. However, during the grace period, interest must be paid according to the installment schedule.

  4. Repayment Method:
    The loan must be repaid in mandatory monthly installments, covering both principal and interest.