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Commercial Loan
1.Loan Term
| Minimum | 6 years |
| Maximum | 10 years |
| *It cannot extend beyond your age years (70 years for self-employed individuals) | |
2.Loan Amount
| Minimum | Rs. 1,00,000 |
| Maximum | Rs. 1,00,00,000 |
3.Interest Rate & Charges
| Variable Rate |
| Starts From
15%* # The final rate of Interest will depend upon Credit History, Profile, Loan amount, tenure and property type. Know More(Link for tariff) |
4. Repayment Mode
-
You can pay your home loan EMIs through:
- Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
- Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available)
5. Insurance
- Free property Insurance
- Free Accidental Death Insurance
- Life insurance(Optional against one time premium) arranged through Kotak Life Insurance, Birla Sun Life Insurance .
EMI Calculator:
Home Loan EMI calculator is a basic calculator that helps you to calculate the EMI, monthly interest and monthly reducing balance on the basis of principal amount, loan tenure and interest rate.
Please note that the Home Loan EMI calculator has been created to give you an approximate understanding and should not be considered as absolute.
Eligibility Calculator:
The house loan eligibility calculator acts as a guide for you to understand an approximate amount that you can avail for your Home Loans.
- KYC Documents
ID & Address Proof
- PAN card (Mandatory, if income is considered for loan eligibility calculation)
- Valid Passport
- Voter ID card
- Driving license
- Aadhar Card(Mandatory)
Residence Proof (Any One Required)
- Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
- Ration card
- Letter from employer
- Bank statement /copy of Pass book reflecting address
- Valid Rent Agreement
- Income Documents
Salaried Individuals
- Salary slips for the last 12 months or salary certificate*
- Copy of bank statements for the past 12 months (salary account)
Self-Employed Professional/ Business Class
- Certificate of qualification for professionals : CA, Doctors, CMA’s(ICWA) or Company Secretary
- Copy of last three years’ income tax returns, along with computation of income
- Copy of last three years’ P/L account with all schedules and audited balance sheet, wherever applicable.
- VAT or Service Tax or GST returns or TDS Certificate
- Bank statement for the last 12 months (Savings account, current account and O/D account)
- Copy of your last three years’ income tax returns, along with computation of income
- Copy of last three years’ P/L account with all schedules and audited balance sheet, wherever applicable
- VAT or Service Tax returns or GST or TDS Certificate
- Bank statement for the last 12 months (Savings account, current account or an O/D account)
- Business License
- Property Documents
- Allotment letter from builder
- Agreement of Sale
- Registration and stamp duty receipt
- Index- ii
- NOC from builder / Society
- Own Contribution Receipt (OCR )
- All builder linked documents (Applicable for cases which are not approved or previously not funded by GICHFL)
- Development Agreement
- Tripartite Agreement
- Partnership Deed
- Sale Deed
- Title Search Report
- NA order
- Occupancy Certificate
- Property Chain Linked Title Documents
- Planning Approvals
Note: Original documents are required for verification purpose only