- Purchase/Construction of House/Flat.
- Renovation/Improvement of House/Flat.
- Takeover of housing loans from other Banks/Financial Institutions.
- Purchase of Site/Plot and Construction of House there on.
- Individuals aged between 21 years and 65 years.
- Maximum age – 75 years i.e. age by which the loan to be fully repaid.
How much you are entitled to?
- Upto 75 months’ average gross income of the applicant.
- To enhance loan eligibility, applicant has option to add income of spouse/children, expected rent, depreciation and income from other sources.
What is your contribution?
- 20% of the cost of the project excluding stamp duty, registration charges.
- Maximum of 30 years or by the time the borrower attains the age of 75 years, whichever is earlier.
- Repayment Holiday – Maximum of 18 months within the maximum repayment period.
- Mortgage of house/flat constructed/purchased out of our finance.
- No Pre-payment/Pre-closure Charges shall be levied.
- 0.25% of loan amount. Maximum Rs.10000. Exclusive of Service Tax.
Rate of interest*
- Under ‘Grand Festival Bonanza’
Base Rate+0.05 = 10.25% p.a. (floating)
*Up to 31.03.2014
- 100% finance for vehicle loan to the housing loan borrowers who have satisfactory track record and providing continuing security of property mortgaged to the housing loan.
- 2 passport size photos
- Proof of Identification (Identity card /Passport /Voter Identification card / Driving License/AADHAAR)
- Proof of Residence viz. tax receipt/ telephone bill/ electricity Bill etc.
- Statement of account of the applicant/co-applicant for the past one year from their present Bankers.
- Latest IT returns for 2 years with salary slip for the last 3 months of the applicant/Co-applicant/Guarantor in case of salaried person
- P & L Statement / Balance Sheet, past two years duly certified by the CA/Income tax assessment order/ IT returns, in case of Professionals/Self employed/Business person (for 3 years, if IT assessed).
- Income Certificate issued by Revenue Authorities in case the applicant is an agriculturist.
IMPORTANT PROPERTY DOCUMENTS
- Original Sale Deed / Partition Deed/Gift Deed/Conveyance Deed Prior title deeds (all link documents), original/certified copies.
- Conversion Order, if any, in case of conversion of Agricultural land for Non-Agricultural purposes.
- Encumbrance Certificate for the last 13 years from the Sub-Registrar
- Copy of the agreement for sale/Letter of offer
- Copy of the latest tax paid receipt (Advance IT, Property Tax, Municipal Tax etc.)
- Copy of Share Certificate/NOC from Society/builder, wherever applicable.
- Copy of License for construction.
- Copy of the Approved Plan / Blue Print of the building / flat to be constructed therein.
- Copy of the detailed estimation of the cost of construction.
For more details contact our nearest branch or call to our toll free No. 1800 425 5885.