Interest Rate
Normal Vanilla Loan: 8.80%
HomeSaver Loan: 8.90%
Processing Fees
₹5000/- to 0.50% of the Loan Amount
Max Tenure
30 years
Credit Score
Outstanding (760+)
You should not have defaulted on a Home Loan ever or delayed payment on your credit card or Personal Loan EMI
Minimum Downpayment Required
Loan capped at 80% of the property value
Loan Approval Before Property Selection
Yes
Documents Required
Salaried
Application with photograph
Age proof
Residence proof
Latest salary slip for 3 months
Form 16 for last 2 years
Bank statements for last 6 months
Self-employed/Professionals
Application with photograph
Age proof
Residence proof
Education qualification
Certificate & Proof of business
Last 3 ITRs along with computation of income and Profit & Loss account by a CA
Last 12 months bank statements
Business Profile
Property Insurance Mandatory
Yes
Typical Property Insurance Costs
0.50% of the property value
Pre-Payment Conditions
NIL prepayment are applicable on floating rate based home loans
Loan Closure Charges
Nil
Loan Closure Conditions
Pre-closure is allowed after 12 months from loan disbursement date.
Rate change over Last 4 Years
-0.75
Closure Process
In case of death of Loan Account holder:
Request letter from the Legal Heir/ Claimant/ Nominee(s) for handover of Property documents
Letter of relinquishment for relinquishing r
Features
ILLUSTRATION FOR $3,000,000 HOME LOAN for 30 Years
EMI
₹24,971
PRINCIPAL PAID
₹3,000,000
INTEREST PAID
₹4,491,232
PROPERTY INSURANCE COST
₹15,000
PROCESSING FEES
₹15,000
TOTAL FEES + INSURANCE
₹30,000
TOTAL EMI PAID ₹ 7,491,232 over 30 Years
Reason: