The Housing Loan (HL) is designed to provide affordable housing financing solutions to individuals and households who may not qualify for conventional mortgage products due to income limitations or other financial constraints. HL can be extended for:

• Construction.
• Purchase of House / Flat.
• Purchase from Builder.
• Repair Renovation.
• Extension.
• Plot Purchase.

Eligible customers or households to have their own house with minimum monthly income of Rs.20000. The minimum age of the eligible borrower is 21 while the maximum age by the maturity of the loan is at 60 years. Housing loans will be extended mainly to-

• Salaried (mostly in Private Sector and Class IV employees in Govt and pensioners); Factory Workers, Anganwadi teachers, Anganwadi Ayahs, ASHA workers, RTC Drivers, Private Schools teachers.
• Self Employed (business owners, Building contractors, Dairy Owners etc).
• Small and Marginal Farmers.
• Skilled and unskilled wage laborers.

The loan tenure ranges from a minimum of 3 years to a maximum of 12 years, contingent upon the applicant's cash flow assessment. The minimum amount for a home loan is , with a maximum loan limit of up Rs.3 lacs to Rs.1 crore.

Interest rates will be determined according to risk assessment, cost of funds, operational expenses, among other factors, and may vary across different schemes, loan amounts, and borrower categories. Processing charges, subject to periodic revisions, will be applied. The interest rates range from 18% to 23%, while processing fees may range from 2% to 3%.

Housing Loan underwriting to include the KYC verification, Income assessment of the borrower or the household and technical/legal evaluation of the property. KYC norms are to be followed as per the RBI applicable guidelines. For Income assessment, defined income matrix to be followed for identified profession type. The income assessment to also ensure that the borrower indebtedness is maintained at reasonable level. Further, legal and technical assessment of property is done to ensure the ownership and valuation of the collateral.

Apart from document verification, personal discussion and reference check are the key component of entire underwriting process. End use must be strictly related to housing loan as per the defined product and shall be monitored.

Our company is committed to maintaining transparency and fairness in its dealings with borrowers. In line with this commitment, we ensure that any changes in terms and conditions, including disbursement schedules, interest rates, service charges, and prepayment charges, are communicated to borrowers in a language they understand. Changes in interest rates and charges are implemented prospectively, meaning they will apply only to future transactions and will not affect existing loan terms. To enforce this practice, a clause regarding communication of changes in terms and conditions is included in all loan agreements, reaffirming our company's commitment to transparent and fair practices.

We cordially invite you to visit our nearest branch for comprehensive information regarding the array of products we offer. Alternatively, you may explore our offerings on our website at https://keertanafin.in for further details.