Home Loan

Buying a house is almost always the biggest financial transaction of a life time. Very few people are able to fund it themselves due to the high cost of the asset. MACO BANK offers you attractive home loans to help you finance your house purchase.

Eligibility :

  • Members of MACO BANK.

Purpose :

  • Construction / Purchase of new house / bungalow / flat etc.
  • Purchase of existing flat / house / bungalow of not more than 20 yrs. old.
  • Repairs or renovation of existing accommodation.

Security :

Equitable / Registered mortgage of the flat / residential accommodation proposed to be purchased, constructed, repaired, renovated as advised by the bank advocate.
Loan amount :

Purchase / construction of new / old residential accommodation - Maximum of Rs.40 lakh.

Guarantors :

  • Guarantee of minimum Two person of good means.

Repayment :

  • 240 Equated Monthly Instalments

Interest :

  • On reducing balance method.