The primary security for the home loan shall be first mortgage of the home being purchased/constructed. It is in your interest to ensure that the title of the house is clear, marketable and free from encumbrances.

Repayment of your loan will be in Equated Monthly Installments (EMIs), comprising of principal and interest calculated annually. The EMIs will commence from the month following full and final disbursement. The EMIs are payable every month and will be collected in the form of post-dated cheques or directly deducted from your salary by your employer. You even have a choice of paying your EMIs directly.

In case of part disbursal of the loan, a pre-EMI interest is payable till the full and final disbursal is made.