In case of foreclosures of loan, certain portion of premium paid shall be refunded by the insurance coverage provider. Premium quantity for acquiring the cover can be financed as part of mortgage on the request of borrower and accordingly EMI will be calculated. But in case of Home Loans pointers concerning compliance of LTV Ratio should be strictly ensured. Family of the borrower isn’t required to repay the mortgage to the extent of declare settled amount, in case of death of the borrower. Applicant/ co-applicant/s must be employed / engaged in enterprise / career for a minimum period of -1- year and/or -2- years (for non-salaried). A mortgage for Repairs / Renovations / Improvement / Extension of Home and for Furniture, Fittings & Fixtures.
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