property advocates in bangalore

Home Loan Product Descriptions - Resale Purchase

Rate of Interest:
Banks considering your Gross Income: 9.25% - 10.50%
Banks considering Net Income: 9.25% - 10.25%
The above rate of interest will change depending on your loan amount and Tenure.
Banks consider loan amount on two slabs below 20 lacks (or) above 20 lacks.
The above interest rates are applicable to both Resident Indians and NRI's.
Tenure:        Resident Indians Min 1 Year – Max 25 years
                   Nri's – Min 1 year – Max 15 years
Eligibility:
                       Age Salaried Min – 21 years Max – 58 Years (State Govt)
                                    Min – 21 years Max – 60 Years (Central Govt)      
                          Self Employed Min – 21 years Max – 65 Years
                           Private sector Min – 21 years Max – 58 years        
                   Income – Min 10,000 / Per Month – Resident Indians
                                   Min 2000$ / Per Month – NRI's
 Processing Fee (PF):  Zero to 1% with 10.36 % Service Tax on the PF amount.     
Sanction and Disbursement conditions:
 1. Property should be located with in the Geo Limits of the bank.
2. All the registered documents of the property will be scrutinised by the advocate.
3. The property will be evaluated by the Govt Approved technical valuers.

4. Advocates in Bangalore

5. If any deviations are there then BRS (Building Regularization) is necessary.
6. All the original documents should be verified with the bank before disbursement.
7. All the original documents should be submitted with the bank after registration.
8. Part payments are allowed after six months only.
9. Foreclosure charges are 2-4 % of the outstanding principle.
10. Funding will be done up to a maximum of 85% of the property cost.
12. Funding will done on agreement of sale value, technical value or the sanctioned amount which ever is less.
13. Latest EC (Encumbrance certificate) and Latest property Tax paid receipts should be submitted before disbursement.
14. Margin money should be paid through cheque.(Applicable to max banks)
15. Loan disbursement is subject to all legal and technical verifications being positive.
 Customers will get tax exemption on this loan.

 Customers are always suggested to cross check the Advocates in Bangalore  with the check list before submitting the bank. Banks reverse the right to ask for additional documents if they need any clarification in regard of your credit history and the details pertained in the application form. All loans at the sole discretion of the bank.