001(improved)

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HOUSEFED

Loaning Operations
	A total of 261 societies comprising of 135 urban and 126 rural societies are availing financial assistance as loans from Housefed Punjab.
Highlights of loaning operations:
	Simplified loaning procedure
	Reduced documentation
	Higher loan limits - Rs. 20.00 lacs The limit of advancement of loan in Urban & Rural Areas is given as under :


	Loan limit in urban area upto Rs. 20.00 lacs
	For the purchase of builtup flat & house in urban aera upto 20.00 lacs
	Addition / Alteration and repair - Rs 5.00 lacs
	Loan advance for rural area - Rs 10.00 lacs
	addition / alteration and repair for rural area - Rs. 2.00 lacs More than 90% of the funds being invested in the rural area
	Low penal rate of interest, just 2% on principal amount only.
	Low rate of interest under various schemes.
	Target of Rs. 5000 lacs has been fixed for the financial year 2010-11. As on 31-07-2011, Rs. 112081.94 lacs have been advanced.
	Repayment of loan in lumpsum or part payment is permissible without any notice etc. at any time before the recoverable period of 15 years.