:: 331 / 2010
INDEX :: ADV:: 152
DATE :: 20.09.2010
CREDIT POLICY SECTION
AHIS
RISK MANAGEMENT WING
HEAD OFFICE : BANGALORE-560002
SYNOPSIS
As per the revised EHL scheme, the quantum of Housing Loan to Officers,
Workmen and sub-staff is enhanced to Rs.20 lacs, Rs.12 lacs and Rs.8 lacs
respectively. Repayment of the loan is fixed at 240 months. The ROI is 8%
simple and the revised ROI can also be made applicable to the employees
who have already availed EHL/AHL, at their option.
The details regarding the revised quantum of loan under EHL and certain
other terms and conditions are furnished in the annexure to this circular.
The modified provisions of EHL scheme shall come into force with
immediate effect.
All other guidelines relating to eligibility, sanction, disbursement, minimum
net take home salary, sanctioning authority etc., to the extent not modified
as per the circular shall remain unchanged.
S VENKATESH
GENERAL MANAGER
ANNEXURE TO CIR. NO.331 / 2010 DATED 20.09.2010
To
I/We have availed Employees’ Housing Loan / Additional Housing Loan from
your branch as follows:
Bank has revised the interest structure for EHL/AHL. I/We request the Bank
to permit switch over of the existing interest rate on my /our EHL/AHL to
the ROI of 8% p.a., simple as specified in the H.O Circular 331/2010 dated
20.09.2010 which will be applied uniformly to the said loan.
I /We further agree that the interest rate as stated above will be
applicable in respect of my loan account/s from the date of receipt of this
letter at the advancing branch. I hereby authorise you to revise the
repayment schedule as per Bank’s norms, if warranted. This letter may be
treated as part and parcel of the loan papers executed by me /us and I/we
am/ are bound by all other terms and conditions stated in loan documents
and Sanction letters.
1. 1.
2. 2.
Borrower/s / Co obligant Guarantor/s