Kerala State Financial Enterprises Limited Eligibility Documets

 Kerala State Financial Enterprises Limited Eligibility Documets

Housing Finance

For what purposes can I avail of Housing Finance?

This finance is available for :

»         Building your dream house

»         Purchase of house plots

»         Outright purchase of house/flat

»         Renovation of existing house
 

Am I eligible for the advance?
You are eligible for the advance if you belong to one of the following categories:
Salaried Person
Professionals like doctors, engineers, chartered accountants, lawyers etc.
Businessmen who are income tax assessees.
Non-resident Indians.
Persons earning rental income.
What is the maximum duration of the advance?
You will have to repay the principal, along with the interest, within a maximum period of 180 months (i.e, 15 years).
What is the maximum advance that I can obtain?
The amount of advance is limited to such amount, the corresponding monthly instalments of which does not exceed 45% of your monthly income.
What is the interest rate of the advance?

         Amount  &  Period                                                       Interest rate
      Rs.5 lakhs and below                                            10.25 %p.a (Yearly Diminishing)
      Above Rs.5 lakhs and upto 50 lakhs                       10.75% p.a  (Yearly Diminishing)

What are the securities acceptable for availing of the advance?
·          For the purchase of plot, the advance will be limited to 75% of the documented value of the plot.
·          In the case of outright purchase of plot and house, the advance will be limited to 75% of the documented value of the plot and house.
·          For house construction, the advance amount will be limited to 75% of the estimated
value of the house to be constructed.The land and/or house, as the case may be, will be the security  for the advance.

To avail this facility, please check our branch list and get in touch with the branch
which is most convenient for you.