Micro Housing Loan
- For purchase of constructed house/flat
- For new house construction
- For renovation
- For extensions - incremental / progressive constructions
- Simplified documentation procedures
- Faster processing
- Dedicated Relationship Manager
- Flexible repayment options
- Safe storage of documents
- Balance Transfer facility
- INR 1 Lakhs to INR 20 Lakhs
- 1 to 20 Years
- Fixed; Prevailing Interest rates
LTcV (Loan To Construction Value)
- 80% of Construction/Purchase Cost
Documents to be produced
- Two Valid KYC Documents as per Bank Policy
- Encumbrance certificate for last 13 yrs
- Title deed copies
- Prior title deed copies, wherever applicable
- Construction plan and estimate
- Required approval/ NOC from the Govt. authorities
- Latest land tax receipt
- Location certificate
1) Who can avail ESAF Housing Loan?
You are eligible to apply ESAF Housing Loan if you meet below conditions
- Age : 18 – 65 yrs at the time of loan sanction; should not exceed 70 yrs at loan closure
- Domicile Status in the area (No. of Years): 3 Years
- Adequate Cash flow to meet the proposed loan EMI’s
- Co-applicant required: Yes
2) What is the process for getting loan?
Please walk up to any of our branches, or contact us @ Tollfree No 1800 103 3723 or apply online at the link given below. Let’s know your requirement, our Relationship Manager will be at your service.
3) How will my loan eligibility be determined?
Loan eligibility is based on the credit assessment / your monthly disposable / surplus income.
4) What is the maximum loan amount I can borrow?
Up to 80% of the construction cost / purchase price subject to eligibility norms being met
5) Can I give standing instruction to repay my Micro Housing loan directly from my ESAF Savings Account?
Yes, you can opt for Automated Repayment and your EMIs will be directly repaid from you ESAF Small Finance Bank Savings Account, thus saving you the trouble of procuring, signing and tracking post-dated cheques.
6) Is there any prepayment option for your loan product?
7) How much time does ESAF require to process Micro Housing loan?
After receipt of all relevant documents/papers/information from the prospective customers, Bank will intimate its decision for sanction/rejection of loan proposal within maximum seven working days.
8) Any Govt subsidy available?
Subsidy of upto Rs 2.40 lakhs available for eligible cases under CLSS scheme under PMAY programme of Govt of India.