Loan Information Of Different Banks

Home Loan from ICICI Bank

Features:
• Attractive loan interest rates
• Home loan amounts suited to your needs
• Home Loan tenure upto 25 years
• Simplified Documentation
• Doorstep Delivery of home loan papers
• Sanction approval without having selected a property.
• Free Personal Accident Insurance
• Insurance options for your home loan at attractive premium
Loan Amount
The home loan amount depends on your repayment capability and is restricted to a maximum of 85% of the cost of the property or the cost of construction as applicable.
Description of Charges
Loan Processing Charges / Renewal Charges
Home Loans: 0.5% of loan amount as Administrative fee or Rs.2,000, whichever is higher. Loan Overdraft against property or office premises: 1% of loan amount or Rs.2,000, whichever is higher. Fees are non–refundable.

Prepayment Charges
2 % on the principal outstanding on full prepayment
Charges for late payment (loans)
Home Loans : 2% per month Home OD : 1.5% of the outstanding amount subject to minimum of Rs. 500/- & Maximum of Rs.5000/-
Interest rate swiping charges
1.75% on principal outstanding
Home Loan from CitiBank
Features
• Attractive Interest Rates
• Loan up to Rs. 5 Crore
• Flexible repayment tenure up to 25 years
• Loans up to 89% of the property value
• Flexibility to pay interest only during construction period
Home Loans available for
• Purchase of Ready Property
• Self-Construction
• Purchase of Plot and Self-construction
• Transfer of your existing Loan availed from other institutions
What is the age requirement for availing Home Loans?
• The main applicant has to be 23 years of age and coapplicant should be 21 years of age when the loan is sanctioned
• Maximum age on loan maturity should not exceed 65 years
Co-borrowers to the loan can be
• All property owners
• All income considered borrowers
• In case of partnership firm – the key partner
• In case of companies – all shareholders holding 76% shares of the company.
Documents required for Salaried Individuals
• Salary slip not older than 60 days
• Bank statements for last 3 months not older than 90 days
• Work experience proof (required for 2 years)
• Photograph for all individuals
• Date of birth proof for all individuals
• Signature verification proof for all individuals
• Residence address proof for all individuals
• Business address proof for all self-employed customers
Documents Required for Self-Employed (Required for 2 years)
• Income Tax Return
• Computation of income for tax purposes
• Financials (Balance Sheet / Profit and Loss Account along with all Schedules)- Attested by Chartered Accountant
• Bank statements for last 3 months not older than 30 days
• Business continuity proof for 3 years
• Photograph for all individuals
• Date of birth proof for all individuals
• Identification proof for all borrowers
• Signature verification proof for all individuals
• Residence address proof for all individuals
• Business address proof for all self-employed customers
Companies
• Memorandum & Articles of Association
• Certificate of Incorporation
• CA certificate for list of directors and list of shareholders along with shareholding pattern
Partnership Firm
• Latest partnership deed
• CA certificate for list of partners along with profit sharing ratioProperty Documents
• Photocopies of title deeds, agreement to sell, encumbrance certificate
• Approved plans and clearance certificates from authorities
• Allotment letters and / or by-laws of the co-operative society / Association of apartment owners.
Home Loan from HDFC Bank
Features:
• Home loans for individuals to purchase (fresh / resale) or construct houses. HDFC finances up to 85% maximum of the cost of the property (Agreement value + Stamp duty + Registration charges).
• HDFC also provides with Home Improvement Loan for internal and external repairs and other structural improvements like painting, waterproofing, plumbing and electric works, tiling and flooring, grills and aluminium windows. HDFC finances up to 85% of the cost of renovation (100% for existing customers).
• Home Extension Loan facilitates the extension of an existing dwelling unit. All the terms are the same as applicable to Home Loan.
• HDFC Land Purchase Loan is a convenient loan facility to purchase land. HDFC finances up to 70% of the cost of the land. Repayment of the loan can be done over a maximum period of 10 years.
• Choose from Fixed Rate or Floating Rate with options to structure your loan as Partly Fixed or Partly Floating.
• Flexible repayment options to suit your individual needs.
• HDFC Standard Life Insurance Company Ltd. offers an insurance plan, which is designed to ensure that life's uncertainties do not affect your family's interests and your precious home. This pure risk plan is designed in a way that the cover decreases as you repay your home loan making it a low cost premium insurance plan.
• Loan Amount: Customers are eligible to get upto 85% of the amount of the property.
• Tenor: 1-20Years