PURPOSE

• General purpose loan against mortgage of immovable property(existing mortgage against Home Loan only)

ELIGIBILITY

• Home Loan borrowers whose loan is a Standard Assets with a satisfactory repayment record of 1 year
• Tenant farmers, Oral Lessee, Sharecroppers
• Maximum No of occasions to avail the loan during the tenure of Original Housing Loan -Twice

LOAN AMOUNT

• 20 times of NMI for salaried borrowers; 1.5 times NAI for professionals/self-employed/businessmen/agriculturist;with provisions for clubbing income of his/her spouse (after netting EMIs of existing HL & other P-segment loans availed ,if any)
• The aggregate EMI (of existing HL,other P-SEG loans and proposed special personal Loan to NMI should not exceed 65%)

MARGIN

• NIL

INTEREST RATE

0.5% above existing the Home Loan interest rate applicable to the repayment tenure opted by the borrower (floating rate only), prevailing as on the date of sanction of 'MRB-Home Line'.Interest will be applied on monthly compounding basis