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- Eligibility
Eligibility for Reverse Mortgage Loan
Individuals who are eligible for a Reverse Mortgage Loan:
Senior citizens of India (above 60 years of age) who own a residential property.
Check your borrowing limits:
Minimum limit - ₹5,00,000
Maximum limit - ₹100,00,000
Loan up to 60% of market value of residential property depending on age of borrowers.
Other Conditions
- The borrower shall maintain the home as their permanent primary residence
- The borrower shall regularly pay the property taxes and insurance
- The home is maintained to preserve its value
- The residential property must be free from any encumbrances
Submit the documents listed below and get a Home Loan / Loan Against Property sanctioned in 5 days!
| Mandatory documents |
| |||||||||
| Proof of identity | Any one of the following
| |||||||||
| Proof of address | Any one of the following
| |||||||||
| Date of birth proof | Any one of the following
| |||||||||
| Signature proof | Any one of the following
| |||||||||
| Proof of Income | Any one of the following
| |||||||||
| Other important documents and checks |
| |||||||||
Documents to be submitted before loan disbursement
| Document | Checks & controls |
|---|---|
| Loan Agreement and Annexures |
|
| National Automated Clearance House (NACH) mandate/ Standing Instruction (SI) form and Security Cheques (SPDC) |
|
| Loan cover/ Insurance details |
|
| Processing fee / Equitable mortgage cheques |
|
| Property documents | Property documents as per type of transaction, according to bank's policy |
| Sanction letter |
|
| TDS |
|
| PSL documents |
|
| Other Documents (to be collected if applicable) |
|
Click below to download the list of documents mentioned above.
List of documents required for Disbursement
List of documents required for Sanction
Disclaimer: This is an indicative list only. Additional documents may be asked for on a case-to-case basis.
Great plans start with well-calculated decisions
EMI Calculator
Discover how to turn your dreams into reality with an EMI Calculator, whether it's purchasing your ideal home, a new car, or planning a vacation etc. Our EMI calculators help you quickly determine your monthly payments, enabling better decisions and helping you plan your finances smartly.
Here are the five benefits of using the EMI calculator:
- Easy to access
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- Helps you ascertain your EMI
- Aids you in planning
Total Amount Payable
₹1,37,621
Total Amount Payable
₹3,00,000
Total Amount Payable
₹1,00,000
₹
6K
15Cr
%
8% 26%
M
12M240M
₹
0
50L
Loan origination charges should not be more than loan amount.
APR
8.00%
Effective ROI
7.18 %
Important Links
Read on to know about the status of your loan, list of loan centres and more
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