Bank Islamic interest free loan for home
Just point your finger at the Bungalow or Apartment of your choice and we’ll help you buy it.
Financing Tenure 2 to 25 years
Financing Range Rs. 200K – 150M
Bank Investment Ratio
Maximum up to 70% for salaried
Maximum up to 70% for SEP *
(* Doctors, Engineers, Architectures, Chartered Accountants)
Maximum up to 60% for Business persons/NRPs
Prepayment Option available
● Maximum 10% of outstanding Balance is allowed in a year after 1st year with no additional unit price.
● Additional units will be sold at 5% higher value if paid within 1st Year of disbursement.
● If above 10% outstanding balance is paid, additional units will be sold at 2.5% higher value if paid within 2nd and 3rd Year of disbursement.
● If above 10% outstanding balance is paid, additional units will be sold at 1.5% higher value if paid within 4th and 5th Year of disbursement.
● After 5th Year = NIL
Benefits:
Quick Processing
Financing up to 50% to 70% of the value of the property
Financing limit Rs. 150 Million
Tenor up to 25 years
Flexibility to make partial prepayments
Flexible & Affordable installments
Clubbing of family income
No Negative Area
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