Home Loan Assistance

HOUSING LOAN

PURPOSE
For construction, purchase / repair / renovation / alteration of a house or for purchase of a plot for the construction of a house. Get details of apartments in thrissur from here.

PERSONS ELIGIBLE
All Resident / Non-Resident Indians with a regular monthly income
Spouses of Non-Residents, who are residents and receiving regular monthly income.
Salaried persons, self employed businessmen, professionals and agriculturists, who have regular monthly income and who have a minimum of three years of standing / experience in their line of activity.
The age should be such that the borrower is able to close the account before he attains the age of 70.

ELIGIBLE AMOUNT OF LOAN

Individual’s Over 18 years of age with steady source of income . View the list of villas for sale in thrissur.
Conditions Apply*

MARGIN AMOUNT

upto 15% to 20% This may vary as per R.B.I norms. View here to buy apartments in Kerala.

LOAN DISBURSEMENT
As per the construction / bank loan agreement. The loan will be disbursed as per the construction stages.

REPAYMENT
Maximum 30 years .
Conditions Apply*

SECURITY
Mortgage of property by deposit of title deeds.

PROCESSING CHARGES
This may vary as per bank norms.

INSURANCE
Insurance is to be arranged for the total cost of building.

PAPERS TO BE SUBMITTED TO BANK

PROOF OF INCOME
In case of salaried persons:
Salary certificate showing deductions.
Authorisation to deduct monthly installments from the salary of employee for credit of the loan account wherever available.
In the case of self employed / professional / business men.
Audited accounts and Balance Sheets/income tax assessment orders/Returns/Memo/Statements of computation of taxable income filed for the last 3 years.

NOTE: After the sale deed is executed, the original deed along with fresh encumbrance certificate and possession certificate should be submitted. For purchase of plot alone all the documents as above except the no. iv are to be submitted. After availment of the loan, encumbrance certificate for four months after the date of mortgage is to be produced. To get more knowkedge click on property document checklist .