Home Loan -Merryhome Application (മെറീ ഹോം ഭവന വായ്പ)
This is one of the loan schemes for the Persons with Disabilities to construct new house/purchase new house
Applicant:- Under this scheme government employees and other persons with disabilities with 40-100% are eligible to apply.
- Persons with disability with 40 -100% and shall be permanent resident of India
- If the applicant is a government employee, shall have service for 2 more years than the final
Installment payment
- Loan amount shall be 25 times of Net salary
- The loan may be sanctioned only as per the instruction and decision of project appraisal committee
- The security towards the loan will be either salary certificate or property document etc
- The interest towards the loan is as following 5% upto 5 lakhs, and 7% upto 50 lakhs
- The promoter contribution will be 5% upto 5 lakhs and 10% upto 50 lakhs
- Loan will not be allotted for purchasing the land
- One who is engaged in self employment shall have the regular and proper income to pay back the loan amount. The loan will be sanctioned on the basis of income certificate issued by village officer and the value of other documents submitted
- The loan amount is 100% of the valuation amount shall be granted
- The land where house is to constructed shall be registered in the name of applicant persons with disabilities and shall not be with any type of financial obligation
- If the applicant purchase a new house, shall submit the agreement executed between the owner of the house and applicant. The house purchased shall be mortgaged
- The loan applicant should have a Canara Bank account
(for more information kindly down load the application form )