The Government Information Center

Situ Sevana -  Lifestyle Loan

A Value added Home Loan to fit your life style. Complete and comprehensive Service in , Legal matters including searches , title reports, transfer deeds and mortgage bonds Technical details of construction from bills of quantity, to inspections for conformity Street – line, building line & non-vesting certificates. Arranging insurance for mortgage protection, title (if necessary) & fire or damage to property.
All this for an additional Situ Sevana service charge of 1% of the loan amount payable on accepting the application for processing.

1.Purposes for which Situ Sevana loan is granted
To build a house
To add a new part to a house /extensions
To complete a partly built house
To obtain water facilities, sanitary facilities and electricity
To purchase a house
To purchase a plot of land to build a house
Redemption

2.Who can obtain the loan
Private individuals
Joint applicants ( Husband / wife )
Daughter or son jointly with father or mother

3.The Loan amount you can obtain
Minimum amount of loan is Rs.1miliion ( 80% of B.O.Q, for construction or 80% property Value – FSV , in cases of purchase of house )

4.What is the Security
The land on which the loan is invested

5.What will be your Loan Installment
If you are a salaried employees: 40% of the salary will be your maximum loan installment (within 60% of total fixed commitments)
Others: Subject to evaluation of disposable income that can be proved.

6.What else……..?
A Savings Deposit Rs. 500 /- with the Bank