Homebuyers in metros can take loan up to Rs.10 lakh for repairs: RBI
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- Last Updated on 25 May, 2022
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Circular no. RBI/2022-23/56 DOR.CRE.REC.18/09.22.010/2022-23, Dated: 24.05.2022
The RBI has directed banks to enhance the ceiling limit on loan up to Rs 10 lakh to individuals for carrying out repairs/additions/alterations to their dwelling units in metropolitan cities (cities with a population of 10 lakh and above) and Rs 6 lakh in other cities. Earlier, RBI vide Circular UBD.CO.BPD. (PCB).Cir.No.13/09.22.010/2013-14 dated September 10, 2013, revised the ceiling limit to individuals on loans up to Rs 2 lakh in rural and semi-urban areas and Rs 5 lakh in urban areas.
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