Indian Bank is offering Additional/Top-up Loan for the existing home loan customers with good track record. It is a Scheme in which existing home loan borrowers who are regular in repayment will be sanctioned with an additional loan against extension of EM.

Type of facilities offered: Term Loan or Overdraft

Purpose: Any bonafide purpose other than speculative purpose

Quantum of Loan: From Rs.1.00 lakhs to Rs.2.00 crores subject to compliance of repayment capacity

Repayment period: Maximum 15 years (No holiday period)

Mode of Repayment:

• Term Loan – EMI
• Overdraft – OD facility will be liquidated in within the sanctioned tenor with equal deduction every month.

Margin: 25% on the residual Realizable Sale Value

Residual Life of the property mortgaged: Should be atleast 10 years more than the repayment period of the loan.

Takeover of accounts: Takeover from other Banks/FIs is permitted.

Charges/Fees: