Unique features of Vidhisha Group products
- Comprehensive Housing Loan Scheme with wide range of products
- Loans for both salaried individuals and self-employed
- Long loan tenure to facilitate easy repayment
- Speedy processing, maximum possible loan amount
- Personalised service in a customer-friendly environment, coupled with flexibility
- Personalised post-disbursement service
- Top-up loan and additional loan to existing customers
Purpose
- Purchase of House
- Construction of house on self-acquired plot
- Purchase of Flat/Apartment
Maximum Loan
Upto 90% of the cost of the house, Flat/Apartment and upto 90% on the estimated cost of construction
| PRODUCT | FUNDING NORMS |
|---|---|
| Purchase of Flat from Builder/Developer | Upto 90% of the cost (basic cost of the Flat + Car Parking +Stamp Duty and registration fee + all one time deposits, VAT, Service Tax, etc). This is subject to 90% of the Market Value of the property as assessed by our Panel valuer and loan eligibility based on Income whichever is lower. |
| Purchase of House from a Builder/Developer VILLA. | Upto 90% of the cost (basic cost of the villa + Car Parking +Stamp Duty and registration fee + all one time deposits, VAT, Service Tax, etc) This is subject to 90% of the Market Value of the property as assessed by our Panel valuer and loan eligibility based on Income whichever is lower. |
| Self-Construction | 100% of the construction cost will be considered. The market value of the land should be more than 1/3rd of the construction cost. In case the borrower has availed loan towards purchase of the land, then, only up to 90% of the construction cost will be funded, subject to 90% of the value as assessed by the valuer. Releases will be depending on the progress of construction. |
| Re-sale of House/Flat | Upto 90% of the cost which will include agreement value +stamp duty, registration fee, etc. This is subject to 90% of the market value as assessed by the valuer and loan eligibility based on Income whichever is lower |
Maximum Term
- Salaried Individuals: 20 Years or up to the age of retirement, whichever is earlier
- Self-employed: 20 Years or up to the attainment of 65 years of age, whichever is earlier
Rate of Interest
Rate of Interest will be on `floating basis’, linked to the PLR of the company and the rate will change in accordance with the change in the PLR. Please contact nearest branch for the details regarding the rate of interest prevailing at present.
Fees
Please contact the nearest branch for details of the processing fee and administrative fee.
Pre-Payment Charges
There will be no pre-closure charges in respect of housing loans sanctioned to individual customers. However, other housing loan to non individual may attract prepayment charges.
| SALARIED INDIVIDUALS | SELF-EMPLOYED |
|---|---|
| Application form duly filled-up with photograph affixed on the space provided for the purpose. | |
| Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof. | |
| Copies of the Bank Account Statements for the last six months of all the Bank Accounts including loan accounts/OD Accounts, if any. | |
| Salary slips for the latest three months along with CTC letter. | Copies of the Income-tax Returns for the last 3 years along with financial statements, such as P&L Account and the Balance Sheet for the last three years with tax audit compliance report (wherever applicable) duly certified by the Chartered Accountants. |
| Form No 16 along with IT returns and computation for total income for the last three years. | Business Profile. |
Security
The property against which loan is sanctioned will be the `security’ by way of registered/equitable mortgage through deposit of title deeds. Collateral wherever required be obtained.
Repayment
- Pre-EMI: Pre-EMI interest is to be paid till the loan is fully disbursed
- EMI: EMI has to be paid after full disbursement of the loan
Mode of re-payment
- NACH
- Standing Instruction
- Salary deduction