Home Loan (Power Home)

Overview

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

Purpose

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 / flat
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)
Extend /Renovate/Repair of a house or flat already owned by self (Improvement/Extension Plan)
Take-over of existing Housing Loan
Loan takeover with additional refinance

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

Loan amount	80% to 85% of property value
Tenor (Repayment period)	Maximum 20 years
Minimum Property Value	Rs. 10 Lacs for Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune Rs. 6.00 Lacs for all other locations
Geographic limits	The property should be located within 50 Km radius of nearest Branch/RAC.

Loan amount 80% to 85% of the property value
Tenor (Repayment period)	Maximum 10 years
Minimum Property Value	Rs. 10 Lacs for Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune Rs. 6.00 Lacs for all other locations
Geographic limits	The property should be located within 50 Km radius of nearest Branch/RAC.

Loan amount 80% to 85% of the property value(Rs. Lacs)
Tenor (Repayment period)	Maximum 20 years
Minimum Property Value	Rs. 10 Lacs for Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune Rs. 6.00 Lacs for all other locations
Geographic limits	The property should be located within 50 Km radius of nearest Branch/RAC.

Proof of identity (Either one of these)	Passport & Photograph Voter's ID & Photograph Driving License & Photograph Pan Card & Photograph
Proof of income (Either one of these)	Last 3 months Salary Slip FORM 16
Proof of residence (Either one of these)	Ration Card Passport Latest Electricity Bill Latest Telephone Bill
Bank statement (where salary is credited)	Last 6 Months Bank Statement
Guarantor form	If applicable

Proof of identity (Either one of these)	Passport & Photograph Voter's ID & Photograph Driving License & Photograph Pan Card & Photograph
Proof of employment	Business Continuity proof for last 2 years.
Proof of income	IT Returns & Computation of Income for last 2 Years certified by a C.A.
Proof of residence (Either one of these)	Ration Card Passport Latest Electricity Bill Latest Telephone Bill Latest Credit Card BillA.
Bank statement (where income is credited)	Last 6 Months Bank Statement
Guarantor form	If applicable

Sr. No.	Type	Loan amount (Rs.)	Effective ROI (% p.a.)
1	Floating	Up to 30 Lacs Above 30 Lacs	9.00 9.50
2	Fixed	Irrespective of the loan amoun	14.00