HOME LOAN:
Our Home Loans open the door to your new concrete dream Home. Since a Home Loan is a long term commitment of 10-15 years, we at India Home Loan Limited ensure that we give you unmatched quality of service, transparency right through the Loan procedures and a supportive experience that remains with you till such time you realize your dream.
Our Home Loan is also offered to professional and self employed individuals based on an appraisal income which is calculated on surrogate income proof for construction or purchase of dwelling units at village, towns and cities. The Loan amount can be further enhanced by including an earning co-applicant.
The Loan is offered up to maximum 80 % of the property cost including Land, Construction cost and single time acquisition costs. You can avail a home loan of up to Rs. 20.00 Lac, but not exceeding 80% of the cost of property.
The Loan is offered under the fix/variable rate option with monthly amortization.
PURPOSE:
- Purchase of Ready build Home / Flat.
ELIGIBILITY:
- Either singly or jointly with co borrower, having income to service the loan and who satisfy our lending norms.
- Property should be located in rural /urban areas.
- Term however does not extend beyond their retirement age or 60 years whichever is earlier (65 years for self employed individuals).
Rate of Interest:
- Up to Rs. 20.00 Lacks 12.50 % to Rs.14 %
Tenure:
Minimum Tenure – 5 years.
Maximum Tenure – 15 years.
MITC:
IHLL will adhere to the Most Important Terms and Conditions (“MITC”) on all loans as prescribed by the National Housing Bank; details on this Policy can be found at MITC.
Required Documents:
For processing your Home Loan Application, we are required to adhere to certain documentation procedures. To enable us to speedily process your Home Loan Application, we will require the following:
KYC (Know Your Customer) documents.
Proof of Income documents and bank statements (last One Years).
Property related documents.
Tax Benefit:
As per Income Tax Act , the current applicable exemption u/s 24 is applicable.
No Charges For:
Replacement of Cheques.
Income Tax eligibility Certificates (provisional & Final)
Accelerated Repayment Option.
Statement of your Housing Loan Account.
