Housing Loan

Guidelines For Hosing Loan
Loan Amount	Interest Rate : 8.25%(w.e.f 01-09-2022) up to Rs. 35/- Lakh Interest Rate : 8.75% Rs.35/- lakh to Rs.70/- Lakh(Maximum)
Period	Not more than 20 Years
Security	Registered equitable mortgage over finance property.

► Copy of Last Three year’s income tax return / Pay slip of last 3 months.
► If Applicant is businessman in that case last three years copies of balance sheet, income tax return of the proprietor/partner, statement of capital account.
► If property is to be purchased under housing scheme, the copies of documents, such as share Certificate,allotment-letter,saledeed,Possession Letter, Revenue records of 7/12 Or PR Card,RERA Certificate
► Copy of authorised building plan.
► Copy of receipt of advanced payment-made/copy of agreement to sale
►Copy of title clearance certificate given by the advocate
►Consent letter from the society about noting of charge of the bank.
►Four copies of Photograph
►Copy of PAN Card/Aadhar Card
►Address proof – electric bill /telephone bill (any one)
►Photo proof – Pan card / Voter card / Driving license (Any one)

►Photograph- two copies
►Last tax bill
►Last income tax return copy
►Address proof – electric bill /telephone bill (any one) As per KYC norms
►Photo proof – Pan card / Voter card / Driving license/Aadhar card As per KYC norms

►Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of bank. Bank charge will be noted in society’s record, Revenue record, PR Card.

►Margin – 20% for new/old property.(Ready possession)
►N.A/.N.O.C and BU permission required for sanction of Housing loan.
►Applicant will have to take insurance of the building in favour of bank.
►Loan amount with interest will be repaid within 240 equal monthly instalments.
►Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed etc. for registered mortgage of the property.
►Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
►Applicant has to take share @ 2.5% of the limit.