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September 19th, 2015 02:48 PM
shabnams
Re: Indian Bank Loan Home

As per your request here I am providing you the details of taking home loan from Indian Bank

Eligibility:


Minimum entry age is 18 years and maximum exit age is 60 years
Amount of Loan * 36 times of Gross Monthly Income or 60 times of Net Monthly Income whichever is higher.
Spouse Income can be included for calculating eligible amount if he / she has steady income.
60% of future rental income, if any from the house property to be purchased /constructed shall also be included (quantum of rent receivable to be certified by our panel engineer). (Take home Income should be more than 40% of gross monthly income after deduction of EMI for the proposed loan, apart from other deductions.)

Margin For Loans upto Rs. 20 lakhs : 10%
For Loans above Rs. 20 lakhs : 20%

Salient Features:
Home Loans can be considered
a) to purchase / construct a new house / flat
b) to purchase house site and construction of house thereon
c) to purchase an existing house / flat
d) to extend an existing house/ additional construction
e) to repair / renovate an existing house / flat
f) to take over Home Loans from other Banks / Housing Finance Institutions approved by National Housing Bank for Housing Finance/ Co-operative Societies.
g) For reimbursement of cost incurred for purchase/construction of house/flat

Documents to be submitted for processing the application:

1. Completed Application Form with 3 passport size photograph.
2. Assets and liabilities statement in the Bank’s format from applicant(s), Co-applicant(s) and guarantor(s)
3. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
4. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID
5. Proof of business address in respect of businessmen / industrialists. Proof of Employment.
6. Salary Certificate generally for the last 6 months.
7. Statement of Bank account of the applicant(s) for a reasonable period, say 6 months for verifying salary credit/other income/nature of transaction etc
8. Proof of other income like rent, interest on investment, if any.
9. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
10. A brief note on the nature of business/service, year of establishment, constitution, securities charged in respect of other loans availed from our Bank/other Branches/Banks/Finance companies / Other sources.
11. Form16/Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
12. Agreement of Sale / Sale Deed.
13. Approved Building Plan.
14. Title Deed Documents for 13 years/30 years as the case may be.
15. Proof of title in the Revenue Records.
16. Property Tax receipts wherever applicable (Up-to-date EC, Legal Opinion from Advocate and Valuation of property from Engineer will be arranged by Bank at applicant’s cost)
September 19th, 2015 02:48 PM
Unregistered
Re: Indian Bank Loan Home

I want to take the home loan from Indian Bank and want to know details of taking home loan from this bank. Will you please provide me sufficient details about this and also tell me lists of silent features about taking this home loan from this bank?
June 13th, 2013 05:44 PM
Aakashd
Re: Indian Bank Loan Home

As you saying you want to know about the home loan of Indian bank so here information provide about that is same for you:

Indian Bank is largest central bank of India.

Eligibility:

1. Customers who applying for home loan must have repaid a min. of 36 EMI’s regularly.

2. Only those customers are applicable for that which takes 40% Home Pay on gross income after the proposed EMI.

Amount of Loans:

Minimum amount of Loan is given by bank is Rs. 1.00 lakh.
Maximum amount of Loan is given by bank is Rs. 10.00 lakhs

Margins & interest rates:

1. LTV Ratio of 90% or 80% margin is to be considered for outstanding home loan and 30% margin for the residential house loan.
2. 10.20 % p. a. is the Interest Rates on loan.
3. Processing fees is 1.15%
4. Repayment is have been deposited within 10 years after taking loan & under the time charges on this are NIL.

Security:


(a.) Registration of extension of EM may be waived by the respective sanctioning authority only for whose registration is already completed
(b.) On stamp paper verification is given by the person is compulsory.
(c.) The person which taking loan submitted documents for processing the application form is:

1. Request letter
2. Up to date EC and tax paid receipt from the competent authority
3. Valuation Report from Panel Engineer
4. Letter of authorization for recovery of EMI.
5. At the time of proposal submitting the House property should be revalued.
6. The House Property of the person can be either self occupied or let out.
7. Person lived in the house from more than the repayment period of the loan means min. 10 years.

Address:


INDIAN BANK
JAIPUR ROAD,
AJMER 305001,
RAJASTHAN,
India

Contact Details:

TEL : 0145-2429547
91 145 244 5135

Map Location:



Quote:
Originally Posted by Unregistered View Post
I want to know about home loan of Indian bank can you provide me information about that.
June 13th, 2013 12:54 PM
Unregistered
Indian Bank Loan Home

I want to know about home loan of Indian bank can you provide me information about that.


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