A Composite Loan can be availed by an individual to cover the cost of buying a plot and constructing a house on it. It’s a type of Home Loan for those who wish to buy a land and build a house.
At first the bank will release loan to purchase the plot and then depend on construction estimation bank will release construction loan. These loans are unique in the sense that your entire loan amount is not disbursed in one go. Depending on the stage of construction, you place draw requests with your lender who then releases the required funds. You pay interest only on the money that you use and not on the total loan amount.
You can enjoy up to 100% loan to construct your dream house. Don’t worry about the process as we are here to give you end to end support without a single penny charged. Sit back and enjoy our door step service. Get flexible repayment, charges free pre payment and pre closure options with every loan you apply with us.