Organisation : Oriental bank of Commerce
Facility :Apply For Housing Loan
Home Page :https://www.pnbindia.in/
Apply here : https://www.pnbindia.in/
Apply For Housing Loan :
Purpose
** Purchase of land and construction of a house thereon.
** Construction of house, where in the plot/land already owned by the applicant.
Related : Oriental Bank of Commerce Apply for Demat Account : www.statusin.in/3979.html
** To buy built up (new or second hand) / semi built up house or flat.
** To Extend/improve/repair, the existing house or flat.
** To buy a flat under construction or proposed to be constructed
** For Home furnishing, furniture / fixtures embedded to structure or otherwise.
Eligibility
Individuals or group of specified individuals (co-borrowers) having an assured source of regular income viz. salaried / self-employed persons, professionals, businessmen, farmers etc.(including Staff & NRIs )
Maximum Loan
For Business man-40 times Gross monthly Income and for salaried person -60 times Gross monthly Income with a condition that the net take income(gross Annual income minus all existing deductions, IT deduction & Proposed loan installment)is in 20-50% slab as per Gross Annual income with details as under :
The maximum permissible Bank finance can be calculated on the basis of income of individual as well as joint borrower, as the case may be.
Maximum age
18 years as on date of application
Upto Rs. 20.00 Lacs
Interest switchover option to existing borrowers :
During the currency of housing loan, if borrower feels that the current prevailing card rate of Home loan is in favour as compared to interest actually applied in his account, he can use the switchover option.
Repayment Period :
** For Home Loan -Upto 360 months, including the moratorium period of 18 months subject to age of dwelling unit
** Age of Dwelling unit less than 10 Years -Maximum 30 Years
** Age of dwelling Unit Older than 10 Years -Maximum 25 Years
** For Home Furnishing Loan-Maximum 120 months
** Second home loans, takeover of home loan accounts, loan to NRI’s facility is available as per the detailed scheme
Documents check List
** Loan application Form
** Passport size photograph of applicant, co-applicant & guarantor
** Identity proof
** Residence Proof
** Age proof
** Income Proof
** For Salaried : Salary certificate issued by the employer / Income Tax return
** For Agriculturist : Record of land holding & cropping pattern or any other proof of income.
** For all otaher individuals : Last 3 yrs. Income Tax Return & computation sheet / Bank A/C statement.
** Property documents : Title clearance report from advocate and valuation report from architect on Bank’s panel
** In case of takeover : Copy of home loan account statement for the entire period / Certificate from the lending institution giving pre-closure amount
** Any other document/paper which may be necessary as per requirement of the case.