| Purpose: |
For Purchase / Construction/ Extension
/Improvement of a Residential dwelling unit and also for purchase
of a plot. |
| Max. Loan Amt: |
A maximum of 85% of the cost of dwelling unit
(70% for land purchase) or Loan Eligibility whichever is lower. |
| *Term : |
Upto 20 years for ProfessionalsUpto 10 years
for Non Professionals |
| Rate Of Interest: |
Choice of Fixed rate / Adjustable (floating)
rate on Monthly Rests based on RPLR** |
| Processing Fee: |
1.25% of the loan amount applied for to be
paid along with loan application through a Bank demand draft or
a Cheque in favour of BANK payable at Dubai,UK,etc |
| Initial (Own) Contribution: |
Initial (Own) Contribution "Own Contribution"=Total
cost - Loan amount, borne by the customer must be through NRO/NRE
funds. |
| Eligibility |
Up to 36 times of the gross monthly earnings
of the applicant may be issued as loan. However, there is a maximum
limit. Calculation of eligibility is same as that of Indians living
in the country. |
| Pre-Payment: |
No pre-payment charges for loans under Adjustable
provided the pre-payment is through own sources.*Subject to condition
apply* |
| Documents Required along with the
Loan Application Form: |
1. Application form with photograph 2. Photocopy
of the Employment Contract or Labour Contract and English translation
countersigned by your employer 3. Latest salary certificate (in
English) specifying the following: A. Name (as it appears in the
passport) B. Date of joining C. Passport Number D. Designation E.
Perquisites and salary4. Photocopy of Identity card / Labour card
5. Photocopy of latest work permit 6. Photocopy of valid resident
visa stamped on the passport 7. Overseas Bank Account and NRE/NRO
statement for the last six months. 8. Continuous Discharge Certificate
(CDC)- if applicable 9. Latest Credit Bureau Report [Applicable
to customers residing in countries where Credit Bureaus exists.
eg. USA, UK etc.] 10. Property related documents 11. Processing
fee cheque 12. General Power of Attorney.
Property documents to be submitted in India.Property Documents:1)
Original Stamped & Registered Agreement Between Builder &
Flat Purchaser OR Allotment Letter.2) Original Stamp Duty Receipt.3)Original
Registration Receipt4) No objection Letter from Builder to Bank
for Mortgage Flat.5) Original Own contribution Receipt.6) Copy of
full Commencement certificate as per approved plan.7) Approved plan
copy should be signed and stamped by Government authority.
|
| Property Docs: |
Property documents to be submitted in India.Property
Documents:1) Original Stamped & Registered Agreement Between
Builder & Flat Purchaser OR Allotment Letter.2) Original Stamp
Duty Receipt.3)Original Registration Receipt4) No objection Letter
from Builder to Bank for Mortgage Flat.5) Original Own contribution
Receipt.6) Copy of full Commencement certificate as per approved
plan.7) Approved plan copy should be signed and stamped by Government
authority. |
| Disbursement: |
In Indian Rupees by the Bank Branch in the
place (or the branch nearest to) where your property is located |
| Security for the loan |
Security for the loan is a first mortgage of
the property to be financed, normally by way of title deeds and
/ or such other collateral security as may be necessary. Interim
security may be required, if the property is under construction |