Purpose of the loan

Eligibility Criteria

• All new and existing builders and developers in housing sector.
• The project should have minimum five residential units.
• The location of project can be anywhere in Kerala.
• Promoters should be financially sound and successful in their other business areas.
• Necessary approvals from all concerned authorities Should be obtained by the promoters and copies produced along with application.
• Promoters should be prompt in their repayment of loans (If any) to their Banks/ NBFCs/ FIs.
• The project should be RERA registered.
• Sufficient parking space for vehicles commensurate with the number of residential units should be provided.

Upper loan limit

The upper limit is up to Rs. 5crore

Internal credit rating

Should obtain a minimum credit rating of 50%

Promoter’s contribution

Moratorium period

Depending upon the construction period, 36 months from the date of its first disbursement.

 
Repayment period