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.

Required Documents

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.