You can apply for loan whenever you decide to buy a home or construct a home or need money for extension or improvement of home. You can contact our customer care number (9310100001) or our RM. You can apply for a Home Loan even before you have finalized the property. The loan amount would be sanctioned based on your credentials and repayment capability.

• Application submission – You will need to submit a fully filled up application form with all the necessary documents as per our policy
• Sanction – Loan will be sanctioned based on your requirement, profile, Income , repayment capability and the value of the property.
• Disbursement– It will be done on the basis of nature of transaction. For resale, disbursal instrument will be made favoring the seller, For Balance transfer, it will be favoring existing financer, For Self construction, it will be on the basis of stage of construction in your favoring, For Builder Purchase cases, It will be in favoring of the builder.

Your Loan will have fixed monthly obligation which is known as Equated Monthly Installments (EMIs). It includes principal and interest. EMI will start from the month following the month in which loan is fully disbursed.

Pre EMI is the Interest payable on the Loan Amount availed in part. This is applicable in Self Construction or Builder cases with Construction Stage Linked Disbursals. The full EMI will not start till the loan is fully disbursed. Hence  interest is charged on part disbursed loan amount which is called Pre EMI.

Finance for construction: Usually, loans are disbursed on the basis of the stage of construction of the property. So, in case of resale or ready possession properties, the disbursement is full and final. However, in case of under‐construction properties, the payment is made in parts, also known as part‐disbursement

Interest is calculated on monthly reducing basis

Fixed rate of interest means that the rate of interest will not change during the tenor of the loan. Hence EMIs would remain same for the entire term of the loan.

Floating interest rate means that the interest rates can increases or decrease basis the RBI rates or borrowing rates of the lender. Hence the EMIs may change.

An EMI has 2 components- interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged decreases every month

=>  Your wife/husband

=>  Any of your blood relative (immediate family members)

=>  All property owners/co-owners have to be necessarily co-applicant in the loan.

House property owned by you/co-applicants or the House being purchased by you/co-applicants should be provided as collateral. Your/co-applicant’s title to the property should be clear, marketable and free from any encumbrances. The security created on property shall be first and exclusive. Original title documents of the said property will be deposited with us.

=>  Application submission – You will need to submit a fully filled up application form with all the necessary documents as per our policy

=>  Sanction – Loan will be sanctioned based on your requirement, profile, Income , repayment capability and the value of the property.

=>  Disbursement– It will be done on the basis of nature of transaction. For resale, disbursal instrument will be made favoring the seller, For Balance transfer, it will be favoring existing financer, For Self construction, it will be on the basis of stage of                        construction in your favoring, For Builder Purchase cases, It will be in favoring of the builder.

An amortization schedule is a table giving the break-up of  EMI into principal part, interest part and outstanding principal of your loan every month.

Yes, all Resident Indians are eligible for tax benefits on both the principal and the interest of a Home Loan under the Income Tax Act. Please consult your tax advisor for tax calculation

You can request for a provisional IT certificate any time during the course of the year.

LAP (Loan against property) is a loan against your existing property. You can be apply for LAP  if you need  funds for your business or personal use.  It is an ideal borrowing tool which is fast and easy to avail. OD/CC takes a lot of time and documentation to process. The limit carries on for an indefinite period while LAP reduces with the time & gets fully paid.

Yes, you can prepay the loan anytime after 12 months by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges.

Carpet Area : Carpet Area is the usable area inside the house where we can spread a carpet. It is calculated from inner wall to wall distance inside the house.

Built up Area : Built up area is Carpet Area + Area of walls and ducts+ 1/2 the Area of terrace. A terrace is considered as half the actual area for calculating built up area.

Super Built up Area : This is built up area + area occupied by common amenities like lifts, corridors, awnings, club house, stairs.

Home Purchase Loan

Home Construction Loan

Home Extension Loan

Home Improvement Loan

Plot Purchase + Construction

Balance Transfer

LAP & MSME

Pls refer details under Products section