As you asking for the Information About the Home Loan of the Kalinga Gramya Bank let me tell you that the Kalinga Gramya bank is merged into the Odisha Gramya Bank Here I am giving you the Information About Home Loan of the Odisha Gramya Bank

About the Bank

Odisha Gramya Bank is a Regional Rural Bank established on 7 January 2013 with the amalgamation of Neelachala Gramya Bank, Kalinga Gramya Bank and Baitarani Gramya Bank in terms of provisions of Regional Rural Banks Act 1976.

Home Loan

Purpose
Construction of new house & expansion/addition to existing house.
Purchase of flat / house from Public Housing Agencies / Registered / Reputed Builders.
Purchase of old houses (not more than 15 years old) from third parties in approved layouts.
Repair and Renovation of existing residential House

Amount:
Maximum Term Loan under the scheme is 80% of the cost of estimate in case of new construction subject to an upper ceiling of Rs 100.00 lacs.
For up-gradation / repair / remodeling of existing house is concerned, maximum Term Loan is 80% of the cost of up-gradation / improvement subject to a ceiling of Rs 10.00 lacs.


Margin
Margin is minimum 20% of cost of construction / cost of house / cost of up-gradation /improvement

Security :
Bank’s Mortgage Charge on land and Building as prime security
Minimum 10% of loan amount as liquid collaterals

Repayment :
Maximum 240 EMIs

Holiday Period :
18 months

Rate of Interest :
Minimum 11% and Maximum 11.75%