REFINANCE SCHEMES FOR HOUSING FINANCE COMPANIES - …

REFINANCE SCHEMES FOR

HOUSING FINANCE COMPANIES

(w.e.f. 05-09-2013)

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Table of Contents

No. 1.

SECTION I

Particulars Introduction General Terms & Conditions Applicable to HFCs under All Refinance Schemes of NHB

2

Eligibility Criteria

3 4 5 6 7 8 9 10 11 12 13 14 15

SECTION II

16 17 18 19

20

21

22

23

NHB-HFC-01 NHB-HFC-02

NHB-HFC-03

NHB-HFC-04 NHB-HFC-05 NHB-HFC-06 NHB-HFC-07 NHB-HFC-08

Extent of Refinance Tenure of Refinance Repayment of Refinance Prepayment Security Rate of Interest Procedure for Sanction of Refinance Limit Procedure for Documentation Procedure for Disbursement Mode of Release Mode of Repayment Periodic Returns to NHB Other Terms and Conditions Specific Terms & Conditions / Requirements of Different Schemes Liberalized Refinance Scheme Golden Jubilee Rural Housing Refinance Scheme Rural Housing Fund Energy Efficient Housing Refinance Scheme Special Refinance Scheme for Urban Low Income Housing Refinance Scheme for Installation of Solar Water Heating and Solar Lighting Equipments in Homes Refinance Scheme for Women Refinance Scheme for Construction Finance for Affordable Housing FORMATS Application for Refinance Limit Application for Disbursement of Refinance Utilization Certificate in respect of Refinance for Prospective Lending Quarterly Return Half Yearly Certificate of Adverse Balance Return Half Yearly Information on Borrowings Annual confirmation of Negative Lien Covenant Annual Return

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5

5

7 7 7 8 8 9 10 11 11 12 12 13 14

19

19 20 21 23

24

26

27

28

30 31 36

51

52 54 58 59 60

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Introduction

1.1 The National Housing Bank (NHB) offers refinance assistance to Housing Finance Companies (HFCs) in respect of their loans given to individuals for housing. Loans against property (i.e. loans given against the security of house property but for purposes other than construction / purchase / repairs / upgradation / extension) are not eligible for refinance.

1.2 NHB currently has the following refinance schemes in operation for HFCs :

No. Scheme Code

Scheme Name

1.

RH1

Liberalized Refinance Scheme (LRS)

2.

RH2

Golden Jubilee Rural Housing Refinance Scheme (GJRHRS)

3.

RH3

Rural Housing Fund (RHF)

4.

RH4

Energy Efficient Housing Refinance Scheme (EEHRS)

5.

RH5

Special Refinance for Urban Low Income Housing

6.

RH6

Refinance Scheme for Installation of Solar Water Heating

and Solar Lighting Equipments in Homes

7.

RH7

Refinance Scheme for Women

8.

RH8

Refinance Scheme for Construction Finance for Affordable

Housing

1.3 Structure of Information Booklet

This information booklet on Refinance Schemes of NHB as applicable to HFCs is broadly divided into two sections :

SECTION I General terms and conditions applicable to HFCs under all refinance schemes of NHB Paragraphs 2 to 15

SECTION II Specific terms & conditions / requirements of different schemes. Paragraphs 16 to 23

1.4 It may be noted that the rules and policies mentioned in this booklet apply only to refinance released under these schemes and not to refinance availed by HFCs earlier under any old refinance schemes which are governed by the respective rules and policies.

I. SECTION I - General Terms & Conditions Applicable to HFCs under All Refinance Schemes of NHB

2. Eligibility Criteria

2.1 HFCs fulfilling the following criteria will be eligible to draw refinance from NHB :

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