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Housing Loans |
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Some of the unique features of banks giving Housing Loans |
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No Charges for |
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Part or Full Prepayment of loan under Adjustable Rate except in case |
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- The loan is commercially refinanced by any other bank or financial institution
- On speculative sale of property financed
- And sources of prepayment are not disclosed at the time prepayment
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Fixed Rate - Part prepayment up to 25% of opening loan outstanding in a financial year |
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Income Tax Certificates |
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Insurance Product called HLPP (Home Loan Protection Plan) with very nominal charges (Cover up to 30 Lakhs) |
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Loan for |
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- Purchase of ready property / under-construction property / Plot of Land / Self-construction of house refinance of existing home loans / Enhancement on existing home loans at home loan rates for personal use
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Loan Amount |
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- Up to 85% to 90 % of the value of the property for Ready Property/Builder Property
- Up to 70 % of the plot value in case of Plot Purchase
- Up to 85% to 90% of construction estimate
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No additional Security / No guarantors |
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Parallel funding could be possible provided 5% of clients contribution is paid to the builder |
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Any amount paid over and above own contribution can be reimbursed provided a proof for the same is submitted of loan |
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Check-List for NRI Self-Employed |
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- LAST THREE YEARS INCOME TAX RETURN WITH P/L ACCOUNT
- LAST THREE YEARS INDIVIDUAL RETURN
- COMPANY PROFILE
- LAST SIX MONTHS BANK STATEMENT OF CURRENT & SAVING ACCOUNT
- PASSPORT COPY AND GREEN CARD COPY
- G.P.A IN BANK FORMAT
- G.P.A HOLDER’S (IN INDIA) ADDRESS AND ID PROOF
- LAST SIX MONTHS BANK STATEMENT OF NRE A/C
- CREDIT REPORT (COMPLETE) IS MUST
- IF THEY HAVE TAKEN ANY LOAN EITHER IN INDIA OR ABROAD – ITS DETAILS LIKE LOAN AMT,TENURE, EMI, TENURE LEFT
- PROCESSING FEE CHEQUE CHEQUE IN FAVOUR OF HDFC LTD
- FOR RS. 11,224/- IF THE LOAN AMOUNT IS MORE THAN 20 LACS (OR)
- 0.5% OF THE LOAN AMOUNT IF IT IS LESS THAN 20 LACS.
* TO BE NOTARISED OR ATTESTED BY CONSULATE AND GPA HOLDER IN INDIA SHOULD GET IT FRANKED FROM DISTRICT REGISTRAR FOR APPROPRIATE STAMP VALUE APPLICABLE TO THE STATE IN WHICH HE OR SHE RESIDES (FOR EXAMPLE IN KARNATAKA IT IS RS.100/-)
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Check-List for NRI Salaried Person |
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- LAST THREE MONTHS SALARY SLIP
- LAST SIX MONTHS BANK STATEMENT (SALARY A/C)
- LAST SIX MONTHS BANK STATEMENT (NRE A/C)
- W2 FORM –LATEST FOR TWO YEARS
- H.R. EMAIL ID
- PASSPORT COPY AND GREEN CARD COPY
- G.P.A IN BANK FORMAT
- G.P.A HOLDER’S (IN INDIA) ADDRESS AND ID PROOF
- LAST SIX MONTHS BANK STATEMENT OF NRE A/C
- CREDIT REPORT (COMPLETE) IS MUST
- PROFILE OF APPLICANT AND CO APPLICATION
- APPOINTMENT LETTER OF PRESENT COMPANY
- IF THEY HAVE TAKEN ANY LOAN EITHER IN INDIA OR ABROAD – ITS DETAILS LIKE LOAN AMT,TENURE, EMI, TENURE LEFT
- PROCESSING FEE CHEQUE IN FAVOUR OF HDFC LTD
- FOR RS. 11,224/- IF THE LOAN AMOUNT IS MORE THAN 20 LACS (OR)
- 0.5% OF THE LOAN AMOUNT IF IT IS LESS THAN 20 LACS.
* TO BE NOTARISED OR ATTESTED BY CONSULATE AND GPA HOLDER IN INDIA SHOULD GET IT FRANKED FROM DISTRICT REGISTRAR FOR APPROPRIATE STAMP VALUE APPLICABLE TO THE STATE IN WHICH HE OR SHE RESIDES (FOR EXAMPLE IN KARNATAKA IT IS RS.100/-)
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