Housing Loan for NRFC Customers

 

  • To build a brand new house
  • To purchase land/construct a house
  • To purchase a house
  • To renovate or refurbish your existing home


BOC SARANI Housing Loan

Maximum Loan Amount

  • Rs.300,000-

Security

  • Mortgage over property

Repayment Period

  • 5 years

Interest Rate

  • 5% p.a.

Eligibility

  • NRFC Account Holders with a minimum balance of US$ 250/- or its equivalent in any other designated currencies for a period of 6 Months



Special Housing Loan Scheme

Maximum Loan Amount

  • Rs. 1.0 Million (Double the SLRs. Value of the balance available in NRFC Account)

Security

  • Property Mortgage

Repayment Period

  • 10 Years

Interest Rate

  • 1% below the priority sector lending rate at the time of granting the Loan
  • 18% p.a. at present

Eligibility

  • NRFC Account holders with a minimum balance of US$500/-or its equivalent in other designated currencies  for a period of 6 Months at the time of application
  • Rupee Loans/ Overdraft Facilities up to 90% of the Value of NRFC Deposits

Repayment Period

  • 5 years

Interest Rate

  • Loans - 16% p.a.
  • Overdrafts - 16.5% p.a.

Security

  • NRFC Deposit