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Housing Loan


Option is given to home loan borrowers to switchover from BPLR/Base Rate linked rate of interest to the current MCLR linked interest rate by making upfront payment of switchover fee of 0.50% plus Service Tax of the outstanding loan amount + unavailed portion of  sanction limit if any, with a maximum cap of Rs.25000/-+applicable service tax.

                                              Vijaya Home Loan
1 Purpose Construction of house/flat
Purchase of residential house/flat
Expansion of pre-owned residential building
Repairs, renovation & improvement of existing residential building
Purchase of site and construction of house thereon. 
Takeover of housing loan from other banks/financial institutions.
Loan for reimbursement of purchase price of recently purchased house/flat i.e  within  3 months from the date of registration of flat/house. 
2 Eligibility Individuals aged between 21 years and 65 years.
(Exit age – 75 years i.e. age by which the loan to be fully repaid) 
3  Nature of facility Term Loan
4 Quantum of Loan minimum/maximum Minimum: Rs.1.00 lakh
Maximum: New construction/purchase: No limit (based on eligible assessment)

For repairs & renovation :     Rs.20.00 lakhs
5 Assessment of eligible loan amount 1) 75 months of gross monthly income
2) Maintenance of minimum LTV ratio as per item 6 (margin)  below
3) Applied limit 

Eligible loan amount shall be the least of the above 3 subject to  take home income as below: 

Annual income Minimum take home stipulation

Up to Rs.10 lakhs 30%

Above Rs.10 lakhs & upto Rs.50 Lakhs 20%

Above Rs.50 Lakhs 10%

Income of spouse/children, expected rent, depreciation and income from agriculture can also be considered to work out the eligibility subject to condition.
6 Margin Upto and inclusive of Rs.30.00 lakhs 10%
Above Rs.30 lakhs upto and inclusive of Rs.75 lakhs 20%

Above Rs.75.00 lakhs  25%
7 Rate of interest

Click here

* Applicable upto 31.01.2018. Switchover cases from Base Rate/BPLR to MCLR are not eligible for concession under Festival Bonanza Scheme.

8 Guarantor Spouse of the applicant. In case spouse is not alive or legally separated (divorced), no other personal guarantee is required. 
9 Security Mortgage charge on the residential land and residential house to be purchased /already constructed or to be constructed thereon.
10 Processing fees/other charges 

Processing charges:  0.50 % of the amount sanctioned with minimum of  Rs.1000/- + GST and Maximum of Rs.20000/- + GST

(*Under Festival Bonanza Scheme- 100% waiver on processing Charges & Documentation charges during the campaign period)
Up to Rs.10 lakh  Rs.2000+ GST
Above Rs 10 lakh  Rs.4000+ GST
11 Repayment Maximum of 30 years or by the time the borrower attains the age of 75 years, whichever is earlier.
Repayment Holiday: Maximum of 36 months.
12 Application with checklist Click Here for Application Form
13 Add ons Housing loan customer is eligible for following add-ons subject to terms and conditions:
1.  Bank offers Free Classic Credit Card to all home loan borrowers (first borrower) with sanctioned limit of Rs.10.00 lakhs and above.
2.  Vijaya Combo loan-Concession of 0.15% in rate of interest for car loans to all home loan borrowers with loan limit of Rs.10.00 lakhs and above.Click Here
3.  0.25% interest concession on Jewel Loans (non-agriculture) availed by Home Loan customers.
4. Vijaya Mangala (Term Loan for Wife of the Borrower/Female Borrower)
5. Vijaya Top up loan (Term Loan)
6. Vijaya Home loan plus (Overdraft)
14 Home Loans for Agricultarists and Elite Class 1. V- Elite Home Loan ( Housing loan  to young generation salaried class) 
2.Vijaya Kisan Home loan (Housing Loan to Agriculturists)   
15 Home loan for Third dwelling unit Home loan for 3rd  Dwelling Unit onwards will  be sanctioned @ 1% additional interest  than the prevailing home loan interest rate.

Click Here for more details for Home Loan for 3rd dwelling unit 

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