IndiaIndia Shelter extends loans amounts upto 20 lacs to urban households for construction, extension, renovation and purchase of new home. Interest rates range from 11.75% to 22% for housing loans. Interest rates are higher for home equity loans (or Loan against Property), where the end-use is not for housing. A file processing fee of 2%-3% (including service tax) is charged.
|Loan Tenure – Home Loan||20 years|
|Loan Amount – Home Loan||Maximum 20 lakhs|
|Rate of Interest||11.75% to 22%|
|Prepayment charges||A. Housing Loans:
None, if pre-closure happens from borrower's own source of funds.
If, other than own sources, pre-payment charges up to 4.5% (inclusive of service tax) of principal outstanding as on date, will be applicable.
|Fees and charges||Home Loans
Rate of Interest: 11.75% to 22%
Processing Fee: 2%-3%
|Applicant(s)||Family members and co-owners of the property|
|Documents Required||1. Application form with photograph duly signed by all applicants
2. Identity proof – Voter ID, PAN, Driving License, Bank Passbook, aadhaar card etc.
3. Age proof – Voter Id, PAN, Driving Licence, Passport, Birth certificate, pass certificate of 10th or 12th
4. Property documents
5. Colored passport size photograph
|Additional documents that will help us process the loan easily||1. Last 3 months salary slips
2. Income Tax Returns of the last 2 years or Business Records
3. LIC Policy
4. FD or RD
5. Details of any other loan account that you are replaying currently
6. Any other savings or investment details
|Security||Equitable Mortgage of the property being financed by deposit of title deeds|