People typically take a equity credit line for either shopping for a house/flat or a plot of land for construction of a house, or renovation, extension and repairs to the prevailing house. The property is encumbered to the investor as a security until the compensation of the loan.
Eligibility Criteria | Requirement |
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Age | Minimum Age: 18 years and Maximum Age: 70 years |
Resident Type |
The applicant must be (any one): |
Employment |
The applicant can be (any one):
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Net Annual Income | At least Rs.5-6 lakh depending on the type of employment |
Residence |
The applicant must have (any one): |
Credit score | A good credit score of at least 600 or more obtained from a recognised credit bureau |
Identity Proof (any one) |
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Residence Proof (any one) |
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Other Documents |
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For Self-employed Applicant/Co-applicant: |
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For Salaried Applicant/Co-applicant: |
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