Housing Loan

Eligibility:-

1.Take Home

a) Where the Combined GTI of applicant, co-applicant(s) 70%

b) Is less than Maximum Income Not chargeable to tax 50%

c) Is more than MINCT(Minimum Cut)but less than Rs. 8Lacs 40%

d) Others 30%

e) 70% of GTI + Depreciation + Exempt Income Cross- 5 To 8 lakhs 60%

&

Above 8 Lakhs towards monthly EMI 70%

2. Repayment Capacity (Total Annual Income –Total Approx. Annual Exp.-Total Annual Loan Liabilities (EMI*12) = Total Approx. Annual Savings. (Approx. finance up to 50 to 60 % on Total Approx. Annual Savings)

3. Facility provide on Realizable Value on Residential Property up to 70%

4. If Property is under construction than Moratorium Period will be allowed.

Maximum period for_XX_Months for new project. (Moratorium Period will consider by Loan Committee)

5. Applicant and/or Guarantor/s required to have permanent residence in Surat district

6. Applicant/s & Guarantor/s should complete age of majority as per Law of India

7. Applicant/s and Guarantor/s should maintain CRIF credit score above 650

where loan committee can allow up to 600 and chairman up to 550

Loan to Value Ratio :- Loan Amount / Propose Immovable Security value *100

Processing Fees :- Processing Fees 1.00 % + GST on Sanction Amount