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11 % Scheme I: 10.4% (Fixed for 1yr), Scheme II:10.4% (Fixed for 2yrs) Scheme III:10.75% (Fixed for 3yrs), Then 10.4 % 10.5 % 10.4 % 10.10 %
Rs.51693
Rs. 5008114
ICICI Bank
Scheme I: 49682 (Fixed for 1yr), Scheme II: 49682 (Fixed for 2yrs) Scheme III: 50863 (Fixed for 3yrs), Then 49682
Rs. 5010000
Monthly Income
The income that he earns from which he will pay his home loan emi is one of the most important factors that affect the amount of loan. So if you are salaried your per month income and if you are self employed, your yearly profit would identify your home loan
max eligibility. The loan amount basically depends upon the net income of an individual and a bank usually provides home loans up to 60 times of an individual net income. For e.g. if a person take home salary is Rs 30,000 he /she may be offered a home loan of around Rs 18 lacs. But it may not be so because a bank takes into account other factors as well while granting a loan.
Property Attributes
Banks give max upto 85% of loan against the value of the property. So if you want a home loan for a 50 lac property max that u can get is 85% of that ie 42.50 lacs. This too if in case you have the income to give the emi of that loan. So based on Income and property value banks decide your exact home loan eligibility. Banks also have certain specific criteria before accepting the property for granting a loan. The banks have specific norms with respect to the minimum area requirements for a flat which may be carpet area or built up area. The bank also considers the age of the property in case of an existing property, the location of the property and also the reputation of the builders constructing the property. The bank also performs a thorough analysis and inspection of the property to check whether the title is clear or not, or are there any ownership disputes, whether the bank is free from any encumbrances etc.
Age
Age also plays a crucial role in determining the eligibility for a home loan. One has to attain a minimum age of 21 to apply for a loan. The minimum age requirement may be different for different lending institution. The maximum age may vary from 58 to 65 years depending on the income source of the individual. The age also determines the tenure and EMI of the loan. For e.g. if an individual is 35 years of age and retires at an age of 60 then his/her loan tenure will be 60-35=25 years and his /her EMI will be calculated accordingly. Longer the tenure lower will be the EMIs. However the longer the tenure, the costlier the loan is as one ends u p paying more interest rates.
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Maximum 20 years
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the property and also depend on the repayment capacity of the individual Axis Bank Home Loan Minimum Rs 3lacs Not Available
rate and 30years under adjustable rate home loan products Max. tenure is 25 years for salaried customers And 20 years for self-employed customers. 15 years and age of the borrower should not exceed 65 years of age at the time of maturity. Max tenure is 25 years
Axis Bank-Empower home loan scheme a home loan for selfemployed individuals Bank of Baroda
Minimum Rs 10 lacs Maximum Rs 100lacs in tier 1 & tier 2 cities and Rs 50 lacs in other cities Maximum loan amount Rs 100 lacs, maximum finance upto 75-85% of the project cost. The loan eligibility is as follows Gross monthly income Rs 20,000-36 times of the gross monthly salary More than Rs 20,000-to Rs 1 lac-48 times of the gross monthly salary More than Rs1lac-84% of the gross monthly income Min Rs 5 lacs and Max. up to Rs 10 crores Min. Rs 2 lacs and max Rs 10 crore Min. Rs 1lac and max. Rs 150 lacs. Generally the loan is extended upto 85% of the property value.
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Max tenure up to 25 years. For salaried customers its 25 years and for others 20 years Max. 25 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 70 yrs of age whichever is earlier