The maximum loan that you can avail is:
For Home Loans Rs.1 crore or 80% of the cost of property, which ever is less, subject to your repayment capacity as assessed.

Your loan eligibility is assessed taking into consideration factors like your monthly income, monthly commitments, age, qualification, employment, and savings background.

The loan is repayable over a maximum term of 20 years or retirement age whichever is Earlier (65 years of age in case of self-employed and professional.)

A non-refundable fee of 0.5 % of the loan amount applied for is payable along with the application. (subject to conditions)

The loan will be secured by an equitable mortgage of the property. Equitable Mortgage of property is created by way of deposit of title documents of the properly financed.

a) If you are employed

Your latest salary slip or latest salary certificate showing details of deduction. If your company is newly established or a private limited company please give a detailed profile of your company

b) If you are self employed

Copy of your profit and loss accounts, audited balance sheets for the last three financial years of your firm or copy of computation of income duly attested by your chartered accountant or copy of acknowledgement of IT returns given by the income tax department or bank statements of the last six months.

Remember you could get your loan sanctioned even if you have not selected your property.

All property documents will be submitted by us to the housing loan institutions.

The loan will be disbursed to you on fulfillment of the following conditions: Your own contribution should be invested on the property in full (own contribution is equal to total cost of project minus loan sanctioned by the sanctioning authority). The progress in the project should be proportionate to your own contribution.

You will have to visit the concerned branch for loan documentation at the time of first Disbursement of the loan.

The loan repayment is by way of equated monthly installments from the month following the month in which the full disbursement takes place. Pre - EMI interest is payable till the loan is fully disbursed.

1) Post dated cheques (for a minimum period of 12 months)
2) Standing instructions to bankers

Yes, you can repay the loan ahead of schedule, either party or fully. However, prepayment charges will be as per rules in force from time to time subject to maximum of 2% of the amount of prepayment.

Resident Indians are eligible for certain tax benefits on principal and interest components of a loan under the income tax act, 1961. Interest repayment of Rs. 1,50,000/- p.a. can get you a tax saving up to approximately Rs. 49,500 p.a. Moreover, you can get added tax benefits under Sec.88 on repayment of principal amount up to a maximum of Rs. 1,00,000/- Kindly confirm with the latest rule