Bengal Roy's

Overview:

Target Audience

Â Â Â Â Â Â Â Â Â Â           Home loans are offered to following individuals basically to own a residential property in India.

          1. Salaried
          2. Professionals
          3. Self-employed
          4. NRI's

Purpose

Â          1. Purchase of a plot of land and Construction of a house thereon
          2. Construction of a house on plot of land already owned
          3. Purchase of a new house / flat
          4. Purchase of old house / flat. The residual age of the property as confirmed by our certified valuers should not be less than 30 years            (Home Acquisition Plan)
          5. Extend /Renovate/Repair of a house or flat already owned by self (Improvement/Extension Plan)
          6. Take-over of existing Housing Loan
          7. Loan takeover with additional refinance

Eligibility

Salaried Individual

Age (years)	Minimum-18, Maximum-Age of Superannuation
Work Experience	Minimum 2 years
Clubbing of Income	Income of spouse/parents/child permitted

Self-employed Individual/Professional

Features

Normal Product

Loan amount	80% to 85% of property value
Tenor (Repayment period)	Maximum 20 years
Minimum Property Value	Rs. 5,00,000/-
Geographic limits	The property should be located within 50 Km radius of nearest Branch/RAC.

Extension or Renovation plan

Take over with/without additional refinance

Note : The loan amount not to exceed 80% of the cost of property or the eligibility as per the income norms which ever is lower.

Documentation

These are the documents required for sanctioning a loan.