Advances



Housing Loans


  • House Building Advance
  • Repairs & Renewals
  • Additions & Alterations
  • Site Purchase Loan
  • Mortgage Loan
  • Terms & Conditions

House Building Advance

Purpose Construction of house
Purchase of Flats / Houses
Purchase of Old House within 15 years of construction.
Clearing of Housing loan availed from other recognized agencies / Banks
Second Mortgage Loan when the loan is sanctioned by the respective member’s office		   Purpose Purchase of Flats
Eligible Loan Amount Rs.80,00,000 or 110 times the Pay (Basic Pay + Grade Pay) or 90% of
the Total Estimated Value against Mortgage / Deposit of title deeds subject to a maximum Cost per Square as decided by the Board
from time to time whichever is less.		   Eligible Loan Amount Rs.80,00,000 or 110 times the Pay (Basic Pay + Grade Pay) or 90% of
the Total Estimated Value against Mortgage / Deposit of title deeds subject to a maximum Cost per Square as decided by the Board from
time to time whichever is less.
Instalment 240   Instalment 240
Rate Of Interest(01.0.2023) 8.25% p.a   Rate Of Interest(01.0.2023) 8.25% p.a

Click here for the List of Documents to be Produced

List of documents to be submitted to the bank within 30 days from sanction of loan



Repairs and Renewals

No Of Times 10
Instalment 100
Maximum Amount Rs.2,00,000.00
Rate Of Interest(01.03.18) 10% p.a


Click here for the List of Documents to be Produced

List of documents to be submitted to the bank within 30 days from sanction of loan



Additions and Alterations

No Of Times 25
Instalment 120
Maximum Amount Rs.5,00,000.00
Rate Of Interest(01.05.23) 8.75% p.a


Click here for the List of Documents to be Produced

List of documents to be submitted to the bank within 30 days from sanction of loan



Site Purchase Loan

No Of Times 40
Instalment 180
Maximum Amount Rs.25,00,000.00
Rate Of Interest 9.75% p.a


Click here for the List of Documents to be Produced

List of documents to be submitted to the bank within 30 days from sanction of loan



Mortgage Loan

No Of Times 30
Instalment 180
Maximum Amount Rs.15,00,000.00
Rate Of Interest 10.50% p.a


Click here for the List of Documents to be Produced

List of documents to be submitted to the bank within 30 days from sanction of loan



  • Latest Salary Slip should be attached.
  • Loans are subject to availability of Funds.
  • Loans will not be sanctioned for 1st 4 working days of the month.
  • Loans sanctioned based on repayment capacity of the member.
  • Loanee shall produce Surety / Co-Obligant who is not a defaulter.
  • A member can stand surety
    • Maximum 2 Personal Loans.
    • Maximum 2 Short Term loans.
    • 2 any other loans (but the member cannot stand surety for 2 housing scheme).
  • The Credit worthiness of the Surety also considered at the time of sanctioning of Loan.
    • MTS member can stand surety upto Clerk / Typist.
    • Clerk / Typist Cadre can stand surety upto Senior Accountants / Senior Auditors.
    • Senior Accountants / Senior Auditors can stand surety to any member.
  • For Availing Housing Loans, Member should have completed 5 years of service, 1 yr of membership in Bank and should have a minimum of 3 yrs of service left prior to retirement.
  • All loans should be cleared three months prior to retirement.
  • Members should clear all the loans/Liabilities with the Bank and should not have stood surety to any loan when they proceed on deputation/transfer to other states.
  • In case of members who have availed loan and are already on deputation/transferred to other states have to submit 6 post-dated cheques of the Bank in which their salary is being credited. They should inform the bank on repatriation to the parent department.
  • No further loans will be sanctioned to the members while on deputation/transfer to other states.