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Interest Rate
Starting with 9.00% (Floating Rate Home Loan)
Processing Fees
Loan amount upto ₹28 lacs - Upto ₹10,000/-
Loan amount above ₹28 lacs - upto 1%
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
Upto ₹30 lacs - 10%
More than ₹30 lacs upto ₹75 lacs - 20%
Above ₹75 lacs - 25%
Loan Approval Before Property Selection
No
Documents Required
Salaried
ID Proof
Address Proof
Last 2 months' salary slip.
Last 6 months' bank statement of the salary account
Latest Form 16 and ITR
Documents related to running loans along with 6 months repayment bank statements
Copy of complete chain documents of the property
Copy of Agreement to sell
Copy of Allotment Letter/ Buyer Agreement
Copy of Receipts of payments made to the seller
Self Employed
ID Proof
Address Proof
Income Tax Returns along with computation for last 2 financials years
Balance Sheet and Profit & Loss account along with all annexures (duly CA certified and audited if applicable)
Last six months current account statement of the business entity and saving account statement of individual
Documents related to running loans along with 6 months repayment bank statements
Latest List of share holding pattern (duly CA/CS certified)
MOA (for private Limited companies)
Partnership deed (for partnership firms)
Copy of complete chain documents of the property
Copy of Agreement to sell
Copy of Allotment Letter/ Buyer Agreement
Copy of Receipts of payments made to the seller
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
NIL foreclosure charges are applicable on floating rate based home loans
Rate change over Last 4 Years
-1
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
Convenient Home Loans for all segments of the customers
ILLUSTRATION FOR $3,000,000 HOME LOAN for 30 years
EMI
₹25,176
PRINCIPAL PAID
₹3,000,000
INTEREST PAID
₹4,552,767
PROPERTY INSURANCE COST
₹16,667
PROCESSING FEES
₹30,000
TOTAL FEES + INSURANCE
₹46,667
TOTAL EMI PAID ₹ 7,552,767 over 30 years
Reason: