Housing Loan

General Information & Documents Required for Housing Loan

 

Purpose         : Construction/Repair / Purchase/Plot Purchase & Construction

1-        Maximum Loan Amount   : Upto 70 Lac   &   Upto 10.00 Lac for repair

2-        Rate of Interest                : 07.45-07.60%    &      8.50% for repair

3-        Maximum time period      : 20 years         &      10 years for repair

4-        Maximum Age                   : 60 Years        &      65 Years for repair

A. Requirements Before sanction of loan :-

1-        5 Passport size photographs.

2-        Photo ID Proof  (Voter ID/Passport/Pan Card/ Driving License).

3-        Photo copy of proof of Residence (Land line telephone bill/electricity bill /Ceiling of gas connection/Ration card/Passport etc).

4-        (i)  - Form-16 with latest salary slip for Servicemen.                            

            (ii) - 3 years ITR with computation sheet for others

            (iii) - 3 years ITR with computation sheet + 3 years Balance sheets with business proof  for businessmen .

5-        Statement of Bank account/Photo copy of Bank Pass Book having entries of last six months.

6-        Sale Deed / Registered Agreement for sale Purchase.

7-        Photocopy of Registry with previous chain.

8-        Estimate in case of construction / Repair.

9-        Blue print of Map (approved from B.D.A. /Municipal Authority.)

10-      Proof  of advances in case of Purchase.

11-      Two Guarantors Required

12-      Saving Bank Account with our Bank

            Paper required from guarantors :

            (i)-      3 Passport size photographs.

            (ii)-     Photo copy of Identity (Photo ID Voter card/Passport/DL/Pan card etc.)& Address proof (Telephone bill/ Electricy bill/ Ration card/ ceilling of gass connection etc.).

            (iii)-    Photo copy of Income / Net worth proof(Salary slip + Form 16/ITR).

            (iv)-    Account statement /Photocopy of Pass book.

B. After Sanction of loan at the time of disbursement :-

1-        Revenue stamp-6.

2-        3 stamp papers for Rs. 100/- each in the Name of  Borrowers.

3-        0.5% of loan amount, Minimum of Rs. 100/-  and Max. Rs. 10,000/- stamp for equitable mortgage of property.

4-        Affidavit on Bank Performa

5-        Affidavit for deposit of sale deed.

6-        Original title deed with previous chain.

7-        Receipt in case of purchase.

8-        Share money : 2.5% of loan amount

9-        Charges as per Bank rule :-

            (i) Processing fees : 0. 5% of Loan amount plus GST 18% (max. 20,000/- + GST)            

            (ii) NEC Fees :

            (iii) Application fees : 20/-

            (iv) Membership fees : 10/- (each borrower

            (v) Nominal membership fees of both guarantors 2+2=4/-

10-      Bills of construction.