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Interest Rate
Salaried - 8.90%
Self Employed - 8.90%
Processing Fees
There is a Limited period offer of a Flat ₹5000/- PF Excluding Taxes
Max Tenure
30 years
Credit Score
Outstanding (760+)
You should not have defaulted on a Home Loan ever or delayed payment on your credit card or Personal Loan EMI
Minimum Downpayment Required
Upto 30 lacs - 10% of the property value (inclusive of stamp duty and registration charges in case of purchase of ready or under construction property
From 30 lacs to 75 lacs - 20% of the property value
Above 75 lacs - 25% of the property value
Loan Approval Before Property Selection
Yes
Documents Required
Salaried
Application with photograph
Age proof
Residence proof
Latest salary slip for 3 months
Form 16 for last 2 years
Bank statements for last 6 months
Self-employed/Professionals
Application with photograph
Age proof
Residence proof
Education qualification
Certificate & Proof of business
Last 3 ITRs along with computation of income and Profit & Loss account by a CA
Last 12 months bank statements
Business Profile
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
-0.75
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 Saving: If you have surplus funds, park them and save on interest!
Liquidity: Withdraw whenever you need money, just like a savings account
Repay the Loan Faster: Your deposits and transactions reduces your interest outgo and you become loan-free quicker
Debit Card : Get all the goodness that comes with owning our most premium debit card
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
₹15,000
PROCESSING FEES
₹15,000
TOTAL FEES + INSURANCE
₹30,000
TOTAL EMI PAID ₹ 8,612,328 over 30 Years
Reason: