Home Loan

Home Loan

A home loan or housing loan is an amount borrowed by individuals for a fixed tenure from financial institutions to buy, construct, repair or renovate a residential property. The Bank/NBFC charge an interest on the amount borrowed, which has to be paid by the borrowers along with the principal amount which is termed as Equated Monthly Installment (EMI).

The bank provides home loan to the borrower on certain terms and conditions .Banks/ NBFC get the property valued independently and provide the loan on the basis of re-payment capacity of the borrower, also considering the property value and the agreement/Registry amount of the property being purchased.

ELIGIBILITY CRITERIA

Your Home loan eligibility is determined after looking at the following:

• Aadhaar Card
• PAN Card
• Property Paper
• Income Proof
• Current Address Proof
• Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)

Loan Process

The loan will be carrying a flat rate of interest 5% - 9.50% or as per avail by financial institutions under norms of RBI Govt. of India per annum flat / reducing basis. This loan will be avail by us from different sources or others financial institutions i.e. Banks / NBFC / FDI etc.

loan will be avail for minimum period of 1 year and maximum for 20 years or as per financial source companies terms. Loan will avail upto 80% of property market value. That the Installments may be payable on monthly/quaterly/ yearly basis. That all the documentation should be completed by loanee in prescribed time period otherwise your loan application will be dismiss/rejected automatically.

Company will take surites to secure loan amount as per RBI norms. Loan amount and disbursement will avail at solemnly discretion of company/financial institutions.