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Catholic Syrian Bank Home Loans
Catholic Syrian Bank home loans are perfectly designed to help home loan borrowers. These loans have been launched to cater to the needs of Indian customers who are looking for an ideal home loan product to buy their dream home.
About Catholic Syrian Bank home loans
Catholic Syrian Bank home loans are designed to make every homebuyer’s dream come true. Home loans offered by Catholic Syrian Bank come with attractive and competitive interest rates that will stand out among interest rates offered by other banks in India.
Purpose for Catholic Syrian Bank home loans
Given below are the two main purposes for which borrowers go for these loans:
- It is an ideal source of finance for constructing or purchasing a house or flat.
- Borrowers can also use this loan for renovations/attachments or extensions to their current flat or house.
Any individual who has a steady source of income can qualify for a Catholic Syrian Bank home loan.
Amount of loan
The maximum amount of loan that you can borrow as a Catholic Syrian Bank home loan is as follows:
- In Urban/Metropolitan Centres - Upto Rs.50 lakhs
- In other regions - Upto Rs.25 lakhs
Rate of interest on Catholic Syrian Bank home loans
The interest rate applicable on Catholic Syrian Bank home loans is as follows:
- 9.00% p.a. for a loan amount upto Rs.30 Lakhs
- 10.00% p.a. for a loan amount over Rs.30 Lakhs
The margin for a Catholic Syrian Bank home loan is as follows:
- For renovation, construction or maintenance - 25% on the actual cost
- For purchase of readymade house/flat - 25% on purchase price as mentioned in sale deed comprising registration fees
- For purchase of land - 70% on purchase price based on sale deed comprising registration fees
Repayment of Catholic Syrian Bank home loans
Given below are the terms and conditions associated with the repayment of a home loan offered by Catholic Syrian Bank:
- Maximum repayment term is 20 years which includes repayment holiday.
- Preliminary repayment holiday should not surpass 12 months.
- For salaried individuals, repayment should be done prior to the date of superannuation.
- In other circumstances, the maximum permissible age for repayment is 65 years.
Given below is a list of documents that you have to furnish to avail a Catholic Syrian Bank home loan:
- Income proof like Pay Certificate/Income Tax Assessment Order.
- Copy of sanctioned plan and project cost of the building/sale deed.
- For salaried individuals, irreversible permission for recovery of installments should be furnished, properly certified by the employer.
Security for Catholic Syrian Bank home loans
The house and land purchased/constructed will work as security against the loan.
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|The installment will not include any processing fee or charges which are applicable as per the rules of finance providing Authorities. |