After demand by the rural people, the Bank has started disbursing loans for Rural Housing . The scheme has been implemented as following:-
Scheme Unit cost(in Rs.) Repayment period Grace period
for construction of a house 15 lakh 15 years 1 year
for repair of house 5 lakh 5 years ------
- For availaing loan, the borrower shall submit an estimate and map prepared by an approved Architect which has to be attested by Sarpanch or Lambardar of village.
- Loan shall be given against security of land.
- Margin money shall be 15% and repayment shall be in half yearly installments.
- For construction of house, the first installment shall be given for plinth level construction and 2nd shall be disbursed after verification of plinth level construction.
- Insurance of the house is mandatory.