Reverse Mortgage Loan

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Reverse Mortgage Loan


We have developed the Product Reverse Mortgage Loan with an objective of supplementing present income/Pension income in the form of regular stream of payments to cover genuine expenses of Senior Citizens.

Salient Features of Reverse Mortgage Loan

Loan Purpose

Finance to Senior Citizen on regular basis for the purpose of,
  • Upgradation, renovation and extension of residential property.
  • For uses associated with home improvement, maintenance/ insurance of residential property,
  • Medical, family emergency expenditure, for supplementing pension/other income, meeting any other genuine need other than for speculative, trading and business purposes.

Eligibility norms for Reverse Mortgage Loan

  • Should be Citizen of India above 60 years of age.
  • Married couples will be eligible as joint borrowers for financial assistance, provided that at least one of them is above 60 years of age and the other not below 55 years of age.
  • Should be the owner of a self- acquired/ inherited, self occupied residential property (house or flat) located in India, with clear title indicating the prospective borrower’s ownership of the property and should be free from any encumbrances.

Loan Amount

Up to Rs 2 Cr. (Subjected to market value of residential property as assessed by the bank, age of the applicant and prevalent Interest rate.)

Loan Tenor

Maximum up to 20 years.

Repayment of Reverse Mortgage Loan

Outstanding loan (Principal + Interest) amount shall become due and payable six months after death of the last surviving borrower/spouse, or the borrower permanently moved out to Old age homes or to an institution or to relatives.

Mode of disbursement

Any or a combination of following,
  • Periodic Payments. (Monthly, Quarterly, Half yearly, annual). (Maximum monthly payment is capped at Rs. 50,000)
  • Payment of Lump sum amount (restricted to 50% of the total eligible amount of loan subjected to maximum cap of Rs. 15 Lakhs).

The loan shall be secured by way of Registered Mortgage of self-acquired / self occupied residential property in favor of the Bank. Commercial property will not be eligible for Reverse Mortgage Loan.

Other Charges

Attractive Interest Rates to Make
Your Reverse Mortgage Loan Affordable and Convenient

Schedule of charges and Terms & Conditions applicable on Reverse Mortgage Loan
Schedule Of Charges
How To Apply

Get a Reverse Mortgage Loan in 3 easy steps.

01. Basic Details

Provide your basic details to help us know you better.

02. Check Eligibility

Determine your eligibility to get a Reverse Mortgage Loan

03. Submit Documents

Documents such as residential proof, income and, employment details.