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Old August 2nd, 2016, 03:25 PM
Sumit Bhardwaj
Super Moderator
 
Join Date: Nov 2011
Posts: 34,130
Default Re: State Bank Of Travancore Loan Against Property

As you wants to get the information about the Home loan Facility of the State Bank Of Travancore the details of the Home loan Facility of the State Bank Of Travancore the details are as follow

Purpose of the Home loan

For construction, purchase / repair / renovation / alteration of a house or for purchase of a plot for the construction of a house, with or without bank finance.

Eligbility :

ll Resident with regular monthly income with a minimum NMI of Rs. 12,000/- and Non-Resident Indians with a regular monthly income with a minimum NMI Rs. 15,000/-.

.
The age should be such that the borrower is able to close the account before he attains the age of 70.

Relaxation in eligibility criteria from the minimum of 3 years to 1-2 years is allowed to employees of government/quasi government departments /establishments and listed companies whose minimum NMI is Rs. 20,000/- or more.

Loan Amount :

60 times of Net monthly income (NMI)/ Average monthly income (AMI) for individuals upto 45 years of age.

48 times of Net monthly income (NMI)/ Average monthly income (AMI) for individuals over 45 years of age.

However the repayment obligation is restricted to Maximum 60% of the NMI/AMI.
Maximum amount of the loan is Rs.500 lacs.

Processing Charges :

Limit upto Rs.25,000 Nil
Limit above Rs.25,000 to Rs.2 lacs 0.56% of the loan amount (Max.Rs.500/-)
Limit above Rs.2 lacs 0.56% of the loan amount maximum Rs.10000/-


Document to be Submitted :

A copy of the plan inclusive of site plan approved by the Corporation/ Municipality/Development Authority/Panchayat as required.

A copy of the building permit issued by the Corporation/ Municipality / Panchayat as required. In areas where building permit is not required a No Objection Certificate from the authority concerned.

Estimate approved by licenced Egineers/Architects approved by local bodies.

Original and prior title deeds.

Latest tax receipts.

Possession Certificate

Encumbrance certificate from the Sub Registrar for the last 31 years.

Title clear certificate from the banks approved advocate.

Valuation report from the banks approved valuator.


For any query you may contact to the State Bank Of Travancore the contact details are given below

Customer Care : 1800 425 5566
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