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Vastu Siddhi Housing Loan
Home » Personal » Retail Loans » Vastu Siddhi Housing Loan

Lowest Home Loan Interest Rates by Cooperative Bank


Title

                                      Norms

Purpose

  • Construction of own house/Purchase of ready built house/flat/resale flat / takeover of housing loans from other Banks/Institutions

Eligibility

  • Salaried Employees /Businessmen/Professionals having regular source of Income.
  • Salaried Employee minimum 2 years of confirmed service.

Loan Amount

  • Maximum Rs. 70.00 lakh per beneficiary per dwelling Unit.

Basis of Advance

  1. 80% to 85% of  Agreement Cost  of flat +Stamp Duty +Registration    OR Cost of land + construction thereon+ Stamp Duty+ registeration               OR       
  2. Salaried : Maximum 60 times of the net take-home salary.
    Businessman/Professional/Self-employed : Maximum 5 times of Avg Net cash  accruals
    1 or 2 stated above whichever is lower

Repayment Period

  • Maximum 20 years for salaried class/Professionals

Rate of Interest

Loan Amount

Floating

Upto Rs. 25 lakh

(PLR – 5.60): 8.65%

Above  Rs. 25 lakh

(PLR – 5.60): 8.65%

Present PLR : 14.25%  p.a.

Combo offer for Vastu Siddhi customers :
  • Pre-sanctioned super Fast car loans
  • For all new applicants of Vastu Siddhi home loans with Min loan Ticket size of Rs. 50 lac
  • Min Net salary of Applicant to be Rs. 30,000/- net of all EMIs.
  • Pre-sanction car loan of upto Rs. 6 lac with waiver of processing fees

Processing fees

Loan Amount

Processing Fees

Upto  Rs. 25 lakh

Rs.  5000/-

Above Rs.25 lakh & upto Rs. 50 lakh

Rs. 15000/- 

Above Rs. 50 Lakh

Rs. 25000/-

Shareholding

  • 2.50% of loan amount, Maximum  Rs. 25000/-

Security

  • Equitable/ legal Mortgage of house property to be purchased.

Top up loan

  • Maximum Rs. 25 lakh
  • Repayment period subject to maximum 7 years.
  • ROI on the top up loan = 12.50% p.a

Loan for construction of house

  • The Cost of land should not exceed 65% of total cost of project
  • Construction should be completed within 24 months

Documentation

  1. Duly filled prescribed application form
  2. Latest Photo, Photo Identity & Residence Proof of the Applicant &  Guarantor
  3. Income proof a) or b) as applicable
    a)Salaried person : salary slips for last 3 months and bank statement for last 3 months or ITR/Form 16 for last 2 years
    b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & 3 years ITR and Bank statement for last 3 months.  
  4. Legal Documents for creating mortgage as per requirement
Conditions apply
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Saraswat-Bank
Saraswat-Bank