Home Loans

Home Loans
Get ready for your dream Home

Relax and Fulfill your dream of owning a home without running around for housing loan. Hassel free Loan processing service at your door step

Key Features:

Purpose:
- Direct purchase from Builders for both under construction and ready to move in property
- Purchase of resale property
Maximum Loan and tenure
- Up to 90% of the property value can be funded subject to income eligibility
- Up to 30 Years subject to retirement age in case of salaried profile and up to 70 Years in case of self-employed profiles
- Up to 90% of the property cost can be funded as loan
Interest Rates: Starts with 6.9% depending on the CIBIL score
Processing fee: Starts with Zero to Rs.10,000/- depending upon which bank we chose
Loan eligibility:
- Check home loan eligibility: Fill up simple information to get the loan eligibility

Benefits

A) Tax Benefits

Section 24 of the Income Tax Act

Interest paid on capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction. Rs 2,00,000 is the maximum amount eligible for deduction in the case of self-occupied property and for rented out property there is no limit of amount of deduction.

Section 80C of the Income Tax Act

You can get a maximum Rs.1,50,000 deduction from the Income, on repayment of principal during a financial year. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount.

B) Pradhan Mantri Awas Yojana ( PMAY) – Credit Linked Subsidy Scheme.

Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG)

For details please give us a call @ 8105328328

Scheme Type	EWS/LIG	MIG – I	MIG – II
Eligibility Family Income (Rs.)	EWS – Rs. 0 to Rs. 3, 00,000 LIG – Rs. 3,00,001 to Rs. 6,00,000	Rs. 6,00,001 to Rs.12,00,000	Rs.12,00,001 to Rs.18,00,000
Carpet Area-Max (sq. m.)	30 sqm / 60 sqm	160	200
Subsidy calculated on a max loan of	Rs. 6,00,000	Rs. 9,00,000	Rs. 12,00,000
Interest Subsidy (%)	6.50	4.00	3.00
Max Subsidy (Rs.)	2.67 Lakh	2.35 Lakh	2.30 Lakh
Validity of scheme	31 March 2022	31 March 2021	31 March 2021
Woman Ownership	Mandatory*	Non Mandatory	Non Mandatory

c) Advisory Services for property Selection:

Owning your own home is one of life’s greatest decisions and investments. We have a strong collaboration with reputed real estate firms and our in-house Property search team will help you in finding your dream home in the best locality, thus ensuring your home and home loan come from a trusted source.

Documents Required

Salaried Profile	SELF EMPLOYED BUSINESSPERSON
KYC: Pan card, Aadhar card and Address Proof (if Aadhar has non-current address)	KYC: Pan card, Aadhar card and Address Proof (if Aadhar has non-current address) , GST certificate ( Proof of business existence)
Latest 3 months Payslip	Latest 3-year ITRs of the company and Individuals - Complete set including Profit & Loss statement, Balance sheet and Statement of Income. Audit report where ever applicable
Latest 6 months Salary credit bank account statement	Latest 1-year bank statement of the company and individual
Latest 2 years Form 16	Partnership Firm: Partnership deed Pvt Ltd: MOA, AOA and list of directors and share holding pattern. . Latest 12 months GST returns (If applicable)
Appointment letter	Latest Form 26 AS
Property Documents: a. Sale agreement b. Mother deeds c. Khata d. Property tax Latest e. Approved building plan f. Encumbrance Certificate – Latest 13 years Note: If the property in purchase is from a approved builder project than only Sale agreement suffices	Property Documents: a. Sale agreement b. Mother deeds c. Khata d. Property tax Latest e. Approved building plan f. Encumbrance Certificate – Latest 13 years Note: If the property in purchase is from a approved builder project than only Sale agreement suffices

c) FAQs

How is EMI ( Equated Monthly Instalments) calculated:

Banks and financial institutions, in general, calculate Equated Monthly Instalment (EMI) of a Home Loan through a common mathematical formula. Hence, EMI is calculated basis loan amount, tenure and interest rate. Bank will take the outstanding loan amount at the end of each month and multiply it by the interest rate that applies to your loan, then divide that amount by 12. To calculate Home Loan EMI, click here.

What is the difference between Home loan and Loan Against Property ( Mortgage loan, Home Equity, Non Housing Loan)

Home Loan is availed to buy property whereas the Loan against property is taken against already owned property. In both the scenario client needs to Mortgage the underlined property with bank

What are the parameters for arriving Home loan eligibility

Home Loan eligibility is calculated after considering various factors including monthly income, fixed monthly obligation, current age, retirement age, Property Value, CIBIL score etc. To check your eligibility, click here.Loan Against Property

Documents Required For Home Loan

SALARIED CUSTOMERS	SELF EMPLOYED PROFESSIONALS	SELF EMPLOYED BUSINESSMAN
Application form with photograph	Application form with photograph	Application form with photograph
KYC - Identity and Residence Proof	KYC - Identity and Residence Proof	Identity and Residence Proof
Latest Salary-slip – 3 months	Proof of business existence	Proof of business existence
Form 16 – Latest 2 years	Last 3 years Income Tax returns (self and business) – Complete set	Business profile
Last 6 months salary credit bank statements	Last 3 years Profit /Loss and Balance Sheet	Last 3 years Profit /Loss and Balance Sheet
	Last 12 months bank statements	Last 12 months bank statements (self and business)