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FAQ

Housing Loan
· Eligibility
· Loan Amount
· Sanctioning
· Disbursement
· Repayment of Loan
· Application Process
· Eligibility

(i) Home Loan

1 You must be at least 21 years of age when the loan is sanctioned.

2 The loan must terminate before or when you turn 65 years of age or before retirement, whichever is earlier.

3 You must be employed or self-employed with a regular source of income

(ii) Office premise loan
1 You must be at least 21 years of age when the loan is sanctioned.
2 The loan must terminate before or when you turn 65 years of age.
3 You must be self-employed with a regular source of income.
4 The loan can be for the purchase / construction / extension of a non-residential property.
5 A loan for renovation or improvement will be given only at the time of acquisition of
   property.
6 Professionally qualified and self-employed individuals can apply.
7 A minimum of 3 year's work experience is a must.

• Loan Amount
   A number of factors are taken into account when assessing your repayment capacity. Your income, age, number of dependants, qualifications,    assets and liabilities, stability/ continuity of your employment / business is some of them.

However, there are ways by which you can enhance your eligibility.

1 If your spouse is earning, put him/her as a co-applicant. The additional income shall be
   included to enhance your loan amount. Incidentally, if there are any co-owners they must necessarily be co-applicants.

2 Did you know that your fiancée's income can also be considered for sanctioning the loan on your combined income? The disbursement of the    loan, however, will be done only after you submit proof of your marriage.

3 Providing additional security like bonds, fixed deposits and LIC policies may also help to enhance eligibility. While there is no need for a    guarantor, it could be that having one might enhance your credibility with us. If so, our loan officer would provide you with the necessary    details.
   The final amount to be sanctioned will depend on your repayment capacity. However, what you ultimately are entitled to will have to conform    within the limits fixed for each loan. Also, when the company looks at the total cost, registration charges, transfer charges and stamp duty    costs are included.                             read more....

 

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