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Interest Rate
Floating Rate of Interest
Salaried - Starting with 10.00%
Self Employed - Starting with 10.50%
Processing Fees
A processing fee of upto 1% shall be charged.
Max Tenure
30 years
Credit Score
Average (650+)
Average Credit History reflects irregularities in past payments that is bounced EMIs or Missed Card payments in the last 6 months
Customers with No Credit can also avail loan subject to other parameters being above satisfactory
Minimum Downpayment Required
Loan capped to 75% of the property value
Loan Approval Before Property Selection
No
Documents Required
Salaried:
Filled Application form
Identity Proof (PAN CARD)
Address Proof
Latest 3 months Payslips
Job Continuity Proof
2 Passport Size colour Photographs
Co-Applicant identity proof, Address Proof
Co-Applicant relationship Proof and Photograph
6 months Bank Statements
3 Post Dated Cheques/ECS Mandate
Property Related documents
Latest salary slip
Form 16
Bank statements of latest 2 months
3 months bank passbook
Self Employed:
Filled Application form
Identity Proof
Address Proof
Last 2 years Income Tax Returns
Professional/Self employed existence proof for more than 3 years
2 Passport Size colour Photographs
Co-Applicant identity proof, Address Proof
Co-Applicant relationship Proof and Photograph
6 months Bank Statements
3 Post Dated Cheques/ECS Mandate
Property Related documents
Latest year IT Returns with Tax Audit reports
Bank statements of latest 2 months
3 months bank passbook
Property Insurance Mandatory
Yes
Typical Property Insurance Costs
0.50% of the property value
Pre-Payment Conditions
NIL prepayment are applicable on floating rate based home loans
Loan Closure Charges
Nil
Loan Closure Conditions
Pre-closure is allowed after 12 months from loan disbursement date.
Rate change over Last 4 Years
-0.9
Closure Process
In case of death of Loan Account holder:
Request letter from the Legal Heir/ Claimant/ Nominee(s) for handover of Property documents
Features
Interest Rates are on the higher side as Capital First is willing to extend loans to the applicants who do not qualify as per the written policy but has other strengths which offsets the risks foreseen
ILLUSTRATION FOR $3,000,000 HOME LOAN for 30 years
EMI
₹23,923
PRINCIPAL PAID
₹3,000,000
INTEREST PAID
₹5,612,328
PROPERTY INSURANCE COST
₹16,667
PROCESSING FEES
₹15,000/-
TOTAL FEES + INSURANCE
₹30,000
TOTAL EMI PAID ₹ 8,612,328 over 30 years
Reason: