| Limit per Borrower: | Rs.3,00,000.00 |
| Margin : | N.A. |
| No. of EMIs: | 36 Months |
| Rate of Interest: | 15.00 % |
| Guarantors: | One (Property holder) |
Eligibility
1. Take Home
- Where the Combined GTI of applicant, co-applicant(s) = 70%
- Is less than Maximum Income Not chargeable to tax = 50%
- Is more than MINCT (Minimum Cut) but less than Rs. 8Lacs = 40%
- Others = 30%
- 70% of GTI + Depreciation + Exempt Income Cross- 5 To 8 lakhs 60% & Above 8 Lakhs towards monthly EMI = 70%
2. Repayment Capacity (Total Annual Income –Total Approx Annual Exp. –
Total Annual Loan Liabilities (EMI*12) = Total Approx Annual Savings.
(Approx finance up to 50 to 60 % on Total Approx Annual Savings)
3. Purchase of Residential Property, 80% loan amount of sale deed, satakhat, Construction cost will consider. Additional/ supplementary Finance Rs. 5 lacs to the owner of house/ flat only for repairs ,additions, alterations etc…. irrespective of whether the house/flat is owner occupied or tenement occupied offer obtaining such security as the banks may deem appropriate. BOD /loan committee have reserve right to consider loan amount.
4.Maximum Loan Amount & Margin: Individual housing loans up to a maximum of Rs.60 lacs per beneficiary of Dwelling unit. Subject to prudential exposure limits of RBI from time to time.
Period of Loans:
- Housing loan may be repayable within a maximum period of 20 yrs. Including Moratorium of repayment holiday.
- Processing Fees : – Processing Fees 0.50 % on Sanction Amount + GST on PF
- Moretorium: Home Loan for construction maximum 18 month and as per guideline of RBI from time to time.
- Till completion of consturction, or 18 months from the date of disbursement of first installment of the loan which ever is earlier.
Loans & Advances
- Housing Loan
- Personal Security Loan
- Vehicle Loan
- Commercial Vehicle Loan
- Used Vehicle Loan
- Traders(CC)/ Business(Wctl)
- OD Against Property
- Loan Against Property
- Loans against Fix Deposit
- OD Against Machinery Loan
- OD Against NSC/ KVP/ LP/ Policy/ IES of LIC
- Hypothecation Loan Against Machinery
- OD/Loan aginst Bank's own term Deposit Receipt
- OD Against Property/ Working Capital
- Loan Against Property for Commercial Property Purchase
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info@fincobank.com