EMI Calculator :

Adjustable Rate Home Loan EMI calculator :

If you want to apply for an Adjustable Rate home loan, this tool will enable you to calculate your Equated Monthly Installment (EMI ) if you know the loan amount you require, term for which you want to take the loan & the rate of interest that is applicable. You can check the EMIs for different loan tenures to decide which would be most suitable for you.

Loan Purpose

You can apply for Home Loan for the following purposes :

• Purchase of a plot of land and construction of a house thereon
• Construction of a house on plot of land already owned
• Purchase of a new house or flat
• Residual age of the property should not be less than 30 years old (Home Acquisition Plan)
• Extension or renovation or repair of a house or flat already owned by self (improvement or extension plan)
• Take-over of existing Housing Loan (Balance Transfer)
• Pre-allotment booking finance
• Loan takeover with additional refinance (Balance Transfer + top up)
• Loan to NRI for purchase of ready residential property only
• Purchase of residential plots only

Eligibility

Salaried Individuals

• Any individual who is in permanent service in Government or reputed companies
• The applicant in all the cases should be above 22 years of age at the time of loan commencement and up to the age of superannuation

Professionals

• Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply
• The applicant should be above 22 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Self Employed Individuals

• Any individual filing Income Tax returns can apply
• The applicant in all the cases should be above 22 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity
• Trade Licence for last 3 years

Documentation :

The following documents are required along with your loan application:

Loan Amount

Limits on home loan :

• Minimum - Rs 5 lac
• Maximum - Rs 10 Crores

Margin :

• 20% in the case of home loans
• 25% in case of improvement or renovation loans

Terms and Conditions :

Repayment

• Repayment period for home loans shall not exceed 20 years
• Repayment period of pre-allotment bookings of housing loans shall not exceed 1½ year
• Repayment period of improvement or renovation or extension of existing property shall not exceed 10 years

Security

• Equitable mortgage of the property to be financed by way of deposit of title deeds.

Disbursement

• The loan will be disbursed in full or in suitable installments, taking into account the requirement of funds and progress of construction, as assessed by the Bank directly to seller or builder or local development authority or supplier of materials etc.

Processing charges or admission fee

• Processing fee equivalent to 0.5% of the loan amount (applied for) will be collected along with the application form (taxes as applicable).

Penalty for early closure

• Nil

Other Conditions

• Bank reserves the right to reject any application without assigning reasons thereof
• The applicant will undertake to inform the Bank as and when there is a change in address or employment

The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.