Housing Loan

Eligibility :

Salaried persons, Professionals & Self-Employed and Businessmen having regular income to liquidate the loans


Minimum : 21 years
Maximum : Age of retirement for salaried class & 70 years for others.

Purpose :

  • For construction of residential house on land already owned.
  • For purchase of New / Old / Unfinished house/flat and renovation /extension /repair of the same.
  • For purchase of plot and construction of house thereon
  • For renovation / extension / repair of residential house already owned.

Loan amount :

For salaried persons : Up to 60 times of monthly gross salary (Maximum: Rs. 500 Lac)

For others : Up to 5 times of gross annual Income (Maximum: Rs. 500 Lac)

Nature of Loan : Term Loan 

Margin : 

For loans up to Rs. 20.00 Lacs – 15% of Project cost.

For loans above Rs. 20.00 Lacs – 20% of Project cost.

Project cost consists of :

  • Purchase price of land/house/flat.
  • Cost of construction/renovation/extension (if applicable)
  • Accrued interest amount of moratorium period, if proposed to be capitalized
  • Premium of Loan Insurance.
S. N.ParticularsRate
1.Bank’s Base Rate (BR) w.e.f. 18.02.201310.20%
2.Bank’s Benchmark Prime Lending Rate (BPLR) w.e.f. 18.02.201314.45%


Rate of Interest under Retail Credit Products

Sl. No.SchemeRate of Interest
1.Housing Loan Schemes
1 a) AllBank Aashiana (Home Loan up to  Rs.  500 Lac)

Up to  Rs.  30 Lac

Above  Rs.  30 Lac and up to  Rs. 75 Lac

Above  Rs.  75 Lac and up to  Rs. 300 Lac

Above  Rs.  300 Lac and up to  Rs. 500 Lac


BR + 0.25%



1 b) Housing Loan to NRI/PIO

Up to  Rs.  30 LacAbove  Rs.  30 Lac and up to  Rs. 75 LacAbove  Rs.  75 Lac and up to  Rs. 300 LacAbove  Rs.  300 Lac and up to  Rs. 500 Lac
BRBR + 0.25%BR+0.50%BR+0.75%

1 c) Housing Loan to High Net worth Individuals (HNIs)

Above  Rs.  500 Lac and up to  Rs.  2500 Lac
BR + 1.00%

1 d) House Furnishing Loan

Up to  Rs.  4 Lac
BR + 3.00%


Security :

Primary : Equitable / Registered Mortgage of the property
Pari-Passu / Second charge over the property if the borrower (salaried person) has already availed loan from his/her organization.

Rate of Interest :

Up to Rs. 30 LacAbove Rs. 30 Lac and up to Rs. 75 LacAbove Rs. 75 Lac and up to Rs. 300 LacAbove Rs. 300 Lac and up to Rs. 500 Lac





Repayment Period :

  • Salaried Persons : Length of remaining service, Maximum 25 years
  • Others : Remaining period in attaining the age of 70, Maximum 25 years
  • Repayment period will be exclusive of moratorium period.

Moratorium Period :

  • Maximum 18 months : In case of loan for construction of house where land is already owned or purchased.
  • Maximum 24 months : In case of loan for purchase of Flat under construction.

Special Features :

  • Repayment option for salaried persons – To extended repayment period up to 5 years after retirement
  • Bullet Payment – To deposit some Lump Sum amount from future cash flows and to amend repayment schedule accordingly
  • Progressive Monthly Installments (PMI) Options – Under this, the initial monthly installments for the first 5 years shall be kept lower i.e. @ 80% of normal EMI, for financial comfort which will be increased gradually/.
  • Take over of housing loans from other finance companies / financial institutions / banks.
  • For acquiring 2nd residential unit.
  • Supplementary Finance for carrying out alterations/ additions/repairs to the house/flat or for finishing
  • Supplementary / Additional finance to individuals who have availed housing loans from their employer on the basis of pari-passu charge / Second Charge
  • Insurance cover to the extent of loan liability for entire repayment.
  • 3rd Party Guarantee not required


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