Andhra Bank will organise a two-day housing loan mela and Vijayawada Property Show on February 2 and 3 at Vedika function hall near Benz Circle.
Deputy General Manager E. Ravikumar addressing a press conference here on Thursday said that various services would be extended to the customers who attend the ‘Happy Home Loan Mela’.
An advisory panel with a chartered account, advocates, engineers and property valuators would give advice to those who what to takes loans in a group. The advice and assistance of the bank staff would be available to customers for spot sanction of housing loans. Those who avail loan during the mela would be exempted from processing charges and pre-closure charges. The eligibility criteria would also be relaxed for customers who were granted loan at the mela, he said.
Loans would be extended for purchase or construction of new and existing house or apartment, purchase of house site and even renovation of old houses. Mr. Ravikumar said that 50 per cent of the salary would be fixed as the EMI and for businessman 65 per cent of monthly income would be the EMI. The repayment period was 30 years with a maximum holiday period of 30 months. Reputed builders would also participate in the mela to advise customers.