Terms of Loans
Feature & Benefit
Maximum Loan Amount: We offer loan upto 85% of the cost of the property (including the cost of the land), if your loan requirement is uptoRs. 30 lacs . For loans above Rs. 30 lacs and uptoRs. 75 Lacs , it is upto 80% and for loans above Rs 75 Lacs, it can be maximum 75% of the cost of the property . This is subject to the repayment capacity of the customer.
Tenure & Term: The tenure of your Home Loan ranges from 1 to 30 years. The term however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self employed individuals)
Interest Rates: The Interest rate applicable is based on the CGHF’s Reference Rate (RR) which vary from time to time based on the regulator norms.
Applicant and Co- Applicant to the loan: Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co-owners
Home Loan Tax Benefit: Get Maximum Tax benefit under Home Loan scheme. As per Indian IT Rules, the current applicable exemption u/s 24 is `1.5 lacs for the interest amount paid in a financial year and up to `1 lac for the Principal amount repaid in the same year.
|Salaried Employees||Self Employed/Professionals|
|Duly filled Application Form with Photograph||Duly filled Application Form with Photograph|
|Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)||Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)|
|Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)||Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)|
|Latest Salary-slips for 3 months||Certificate & Proof of business existence along with Business Profile|
|Form 16 for last 2 years||Last 3 years Income Tax returns (self and business)|
|Last 6 months Bank Statements(salary account)||Last 12 months Bank Account Statements (self & business)|
|Photocopy of Title Documents of the Property, Approved Plan||Photocopy of Title Documents of the Property, Approved Plan etc.|