Abhyudaya bank Housing Loan | Interest Rates | Documents | Information
Get Home loans from Abhyudaya Bank: Details on interest rates, Documents, EMI, Eligibility & Calculator for EMI & Eligibility Quotes online.
PURPOSE
- Purchase of Flat (New or Resale)
- Construction of House,
- Extension to existing Flat / House
- Takeover of Housing Loan from other Financial Institutions, etc.
MAX. AMOUNT
- Maximum amount of Rs. 70.00 Lakh.
Home Loan applications received for rupees ₹ 419,027 crores till 26 April 2024
ELIGIBILITY
- Any Individual (Businessman, Professional, Self- Employed, Salaried Person having Regular source of Income)
- Property should be in the name of Applicant.
- The Co-applicant is necessary for Housing Loans. Co-applicant will mainly be spouse or son or daughter or father or mother of the Principal Borrower and he/she may be an earning or non-earning member. In these cases the income of the Co-Applicant can be clubbed for calculation of eligible loan amount. In the absence of the above Co-applicants, Brother or Sister may be taken as Co-applicant, but their Income shall not be clubbed for calculation of eligible loan amount.
- In case of joint Agreements in Housing Loans, the Purchasers (Owners) will be the Borrowers and hence there is no need for separate Co-Applicants.
Interest Rates on Abhyudaya Bank Home Loans:
| Housing Loan sanctioned on after 01.09.2014 or already sanctioned of which first disbursement is made on or after 01.09.2014 a) Loans sanctioned upto & including Rs.25.00Lakh b) Loans sanctioned above Rs.25.00 Lakh and including Rs.50.00 Lakh c) Loans sanctioned above Rs.50.00 Lakh and upto Rs.70.00 Lakh. |
|
A) Eligibility as per Agreement Value
| Loan Amount | Loan Eligibility |
| Up to Rs.15.00 Lakh | 90% of the Agreement value |
| Above Rs.15.00 Lakh to Rs.20.00 Lakh | 85% of the Agreement value |
| Above Rs.20.00 Lakh | 80% of the Agreement value |
ELIGIBILITY
B) Eligibility as per Repayment Capacity =Repayment capacity * 100000 / EMI for Rs.1,00,000/-.
Wherein,
Repayment Capacity = Net monthly Income – (Less) minimum Take home Pay – (Less) Other Loan deduction.
Minimum Take Home salary/ Income = 40% of the Net Income/ Salary p.m. Subject to Minimum of Rs.8000/- & Maximum of Rs.20,000/-
Which ever is lower.
REPAYMENTUp to 20 years (240 months) including the period of moratorium or holiday period.
The moratorium or repayment holiday may be granted
| A) | at the option of the beneficiary |
| B) | till Completion of construction or 18 months from the date of disbursement of first installment which ever is earlier. |
