Housing Loan Purpose

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.

Margin Amount

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

Security

Mortgage of property by deposit of title deeds.

Processing Charges

This may vary as per bank norms

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.

Repayment

Maximum 30 years.
Conditions Apply*

Insurance

This may vary as per bank norms.

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*

Loan disbursement

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

Margin Amount

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

Checklist of Documents required for Home Loan

Completed Loan Application
Proof of Identification: (any of the following)
- Driving license
- Ration card
- Passport
- PAN card
- Voter’s ID card
- Employee ID
- Bank passbook
Proof of Age: (any of the following)
- PAN card
- Birth certificate
- 10th class Mark sheet
- Bank passbook
- Passport
- Driving licenseUtility bill (telephone, electricity, water, gas) – less than 2 months old
- LIC policy/ receipt
- Letter from a recognized public authority verifying the customer’s residence address

Income Documents
- Salaried individuals (any one of the following)
- Form 16
- Certified letter from Employer
- Pay slip (Last 2 months)
- Increment or Promotion letter
- IT returns (for 3 years)
- Apart from the proof of income of the salaried individual, he would also have to furnish any investment proofs
  (like fixed deposits, shares, etc) and his passport-size photographs.
- Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant.
- Last 2 years Balance Sheet and Profit & Loss account of the firm- duly attested by a Chartered Accountant.
- Apart from these, a self-employed individual also has to submit.

A brief introduction of his profession/business
Passport size photographs
Photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act
Photocopy of Registration Certificate for deduction of Profession Tax
Proof of investments

Housing Loan Purpose