A home provides security. It's the cornerstone upon which we build our lives. Understanding the various needs of a diverse group of customers, Suvarnayug Bank provides you with a wide range of Home Loan Solutions that suit your needs.
Who can apply? :
Individual/s, salaried employees, Businessmen, Self- Employed, Professionals having regular source of income. If property is registered in the joint names, all the joint owners should join as Co-Borrowers. If income of the Applicant alone is not sufficient, other earning family members (spouse/ father/ mother / son / daughter) can join as Co-Borrower. If the Applicant’s age is over 50 Yrs. in case of salaried employee, and 60 Yrs. in case of Businessman, his / her earning son / daughter to join as Co-Borrower
For construction of own House For purchase of ready built / under construction house or flat. For purchase of old house / flat (on resale basis). For takeover of existing housing loans from other Bank/ Finance company.
120 or 180 Equated monthly installments For businessmen 120 installment.
Maximum Limit :
Minimum ₹ 5.00 lakhs, & Maximum ₹ 70.00 lakhs.
New Flat/ House: Minimum 20% of the purchase price
Resale Flat / House: Minimum 20% of Market value or Agreement value, whichever is less. [Age of the building should not be more than 20 year& remaining expected life of the property should not be less than 30 years]
Minimum two Sureties out of which one should be an income tax payer. The Borrower and all the sureties should be Regular/Nominal members of the Bank. The house for which loan is sanctioned. Collateral security. Registered Mortgage of House/Flat/Land and House property constructed thereon to be financed.
Not essential, but may be called for on case to case basis.
Documents Required :
Loan application. Residential proof of Applicant and sureties. Certified Balance sheet and Profit & Loss A/c. Statements of the borrowers and sureties other than salaried persons. Income Tax Returns of last three years of the Borrower(s) and the sureties. All the original documents related to house with Tile Clearance Certificate. Latest valuation report of property, vehicle etc NOC of Society, Builder, CIDCO etc., is required In case of old house valuation report is required. Any other document required by bank.