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PRODUCTS – NON-HOUSING LOANS

NON-HOUSING LOANS

  • Loan Against Mortgage of Property (LAMP)
  • LAMP – Plus
  • Non Residential Property Loan (NRPro)

a) Loan Against Mortgage of Property (LAMP)

  • LAMP is offered on the following type of properties:

    • Residential
    • Commercial
    • Plot
  • Property offered for security should be self-occupied. Let-out properties, especially commercial should be avoided considering the risks involved in taking possession of such properties in case of default.

  • Similarly residential plots alone should be considered as acceptable security. Commercial or industrial plots should be avoided.

b) LAMP – Plus

  • This is offered as additional loan to customers whose Home loans are taken over from other Housing Finance Companies/Banks.

c) Non Residential Property Loan (NRPro)

  • i. Non Residential Property Loan to Professionals

    • NRPRo loans are offered to professionals such as practicing Doctors, practicing Chartered Accountants, Practising Architects, Engineers and Management Consultants for their own use for setting up their office/ clinic.

  • ii. Non-residential property loan to Non-Professionals

    • NRPro loans are also offered to non-professionals viz., businessmen to construct own premises for running their business. It may be availed for purchase of a commercial property / from builder / developer / resale.

Amount of Loan:

Product Amount of Loan
LAMP – Residential Maximum of 50% of the value of the property
LAMP – Commercial Maximum of 50% of the value of the property
LAMP – Plot Maximum of 50% of the value of the property
LAMP – Plus Maximum of 70% of the value of the property
NRPro Loan Maximum of 50% of the value of the property

* Subject to valuation of the property and repayment capacity as assessed by SBNPPSHFL or eligibility based on income whichever is less.

Maximum Term of loan:

  • Salaried

    • 10 years or retirement age, whichever is earlier
  • Self-employed Category

    • 10 years or 65 years, whichever is earlier
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