Your Path to Homeownership
Harco Bank is committed to making your homeownership journey smooth and affordable. Our Home Loan offers transparent terms, competitive interest rates, and dedicated support to guide you every step of the way. Whether you're buying a new house, constructing one, or purchasing a plot, we have a solution for you.
Loan Conditions & Requirements
Maximum Loan Limit
Up to Rs. 75.00 Lakhs
Eligibility Criteria
- Property Type: Plots of HUDA / Housing Board Houses & flats, and Housing colonies approved by Director Town & Country Planning only, within Chandigarh & Panchkula.
- Government Employees & Allied: All Govt. employees and employees of Boards/Corporations/Cooperative Institutions, Registered and Recognized Educational Institutes, Multi-National Companies, Public and Private Companies etc. Eligible for loan equal to 50 times of monthly gross pay.
- Professionals, Businessmen & Traders: Eligible for loan up to 50 times of the average of their net monthly income during the past three years.
Loan Purposes
- For **purchase of built house**.
- For **construction of house/flat**.
- For **purchase of plot for construction** (maximum 50% of the eligible loan amount as per repayment capacity).
Repayment Terms
- Maximum repayment period: 20 years.
- Or up to 65 years of age, whichever is earlier.
- **Moratorium:** An interest-only moratorium period of 18 months is allowed in case of construction of house/flat.
Margin Requirements
- 20% margin for loans up to Rs. 25 Lakhs.
- 25% margin for loans up to Rs. 75 Lakhs.
Security & Insurance
- **Mortgage of property:** The property being financed must be mortgaged to the bank.
- **Guarantor(s):** Requirement for guarantor(s) as per bank policy.
- **Insurance:** The flat/house being constructed with the financial assistance from the bank shall be comprehensively insured with a Bank clause in the policy at the cost of the borrowers.
Rate of Interest (Fixed)
| Category | Interest Rate |
|---|---|
| Public | 7.50% (CIBIL>=800) |
| Harcobank Staff | 7.25% |
Processing Charges
| Category | Charges |
|---|---|
| For Public | 0.40% of loan amount (as on date 01.01.2025) |
| For Harcobank Staff | NIL |
**NIL pre-closure or hidden charges.**
House Building Loan (Home Loan)
| CIBIL Score | Revised Rate of Interest (% p.a.) - Public | Revised Rate of Interest (% p.a.) - Staff |
|---|---|---|
| 800 & above | 7.50% | 7.25% |
| 750 to 799 | 7.75% | 7.25% |
| 700 to 749 | 8.00% | 7.25% |
| 650 to 699 | 8.50% | 7.25% |
| -1 (No Credit history) | 7.75% | 7.25% |
| Score below 650 | Not Accepted | |
The rates of interest will be effective from **July 28, 2025**.
Though ROI on Home Loan provided by our bank is fixed, as per Bank
Reset Clause, the Rate of Interest will be revised after every 2 years.
How to Apply for Your Home Loan
Connect with Our Experts
Contact our loan specialists or visit your nearest Harco Bank branch to discuss your requirements and get personalized advice.
Submit Application & Documents
Complete the Home Loan application form and submit all necessary KYC, income, and property documents.
Verification & Approval
Your application and documents will undergo a quick verification process, followed by loan approval.
Disbursement
Upon successful verification and completion of formalities, your loan amount will be disbursed.
Ready to Build Your Future?
Contact us today for personalized assistance and embark on your journey to owning a home.
Contact Loan ExpertsLoan Application Security Tips
Ensure a secure loan application process by keeping these tips in mind:
- **Official Channels:** Only share personal or financial documents through official Harco Bank channels or with authorized bank representatives.
- **Beware of Impersonators:** Harco Bank will never ask for your OTP, PIN, or passwords over the phone, SMS, or email for loan processing.
- **Review Documents:** Carefully read all loan documents and terms before signing. Seek clarification for any doubts.
- **No Advance Fees:** Be wary of requests for upfront fees from individuals claiming to arrange loans. Official bank charges are clearly stated.
- **Verify Information:** Always verify the identity of anyone claiming to be a bank representative.
For any concerns or to report suspicious activities, please contact our 24/7 customer care helpline: 0172-2713293.