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Disbursement
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Construction of new building: It will be directly made to you in 4 convenient
stages, based on progress of work.
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Outright purchase: A one shot disbursement of 100% of the loan amount will be
made directly to the Seller, after your margin payment.
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Composite Loan: First tranche of disbursement will be made directly to the
Seller, after your margin payment.
Repayment
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Construction of new building: It will be directly made to you in 4 convenient
stages, based on progress of work.
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120 months including the repayment holiday of a maximum of 18 months in case of
self construction / composite loans.
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Repayment will begin on completion of the house or 18 months from the
disbursement of the first installment of the loan, whichever is earlier.
Pre-EMI interested will be payable by the borrower during construction period
till the commencement of first EMI.
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Repayment will be through remittance from abroad or transfer from
NRE/FCNR/NRNR/NRO A/c. An Authorisation to deduct monthly installments from
NRE/NRO A/c. shall be furnished to the Bank.
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Rental income if any received should go towards repayment of loan.
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Repayment can be from local sources after returning to India permanently.
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