Murtgage loan

Mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you’ve borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.

To provide a source of regular income and for any of the following purposes:
– Medical emergency
– Expenditure of family
– Supplement pension and other income
– Upgradation, renovation, extension, maintenance and insurance of existing residential property
– Meet any other genuine needs


  • Indian citizen above 60 years
  • Individual, preferable jointly with spouse or single (if widowed/divorce), with spouse older than 55 years as co-borrower
  • Individuals who own a self aquired and self occupied residential property in India (RML against ancestral property will not be considered)
  • The residual life of the property should be minimum 20 years


Maximum up to Rs.100 lakhs (along with interest) and payable on reverse annuity basis

For age group 60-70 years – 45% of the property value

For age group 71-75 years – 50% of the property value

For age group 76-80 years – 55% of the property value

For age group 81-85 years – 60% of the property value

Repayment Period

For age group 60-70 years – maximum tenure of 20 years

For age group 71-75 years – maximum tenure of 15 years

or age group 76-80 years – maximum tenure of 10 years

For age group 81-85 years – maximum tenure of 5 years

 Rate of Interest

  • PLR less 2.00% i.e. 10.00%
    Fixed interest rate for 5 years and thereafter will be reviewed/revised at regualar intervals of 5 years)