Vijaya bank Home Loan | Interest Rates 2015 | Eligibility

Vijaya Bank Home Loan – Interest Rates, Documents, EMI and Fees and Eligibility with Vijaya Bank housing loan. Calculate your loan emi with Loan calculator.

Eligibility:-

  1. Individuals with minimum age of  21 years and Maximum age of 65 years are eligible.
  2. The applicant/beneficiary shall have sufficient income to repay the loan along with the interest within sanctioned period.
  3. In case of salary income alone is considered for deciding the quantum of loan, such salaried persons should be in permanent service and not probationers: Persons nearing superannuation getting retirement benefits sufficient to cover the Loan applied can also be considered.
  4. Upto 75 months’ average gross income of the applicant.
  5. Maximum age – 75 years i.e. age by which the loan to be fully repaid.

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Compare Home Loan Interest Rates of Vijaya Bank Home Loan: -

upto 30 Lacs

30-75 lacs

Above 75 lacs

Upto 10 years

10.25%

10.25%

10.50%

10 -20 years

10.25%

10.25%

10.50%

Quantum of Loan:

  • Minimum loan amount –  Rs. 1.00 lakh
  • Maximum loan amount –  Rs. 100 lakhs  – on need based as per the cost less stipulated margin subject to loan entitlement.
  • In case of Repairs/Renovation – maximum is Rs. 10 Lakhs
  • Home Loan of less than Rs. 1 lakhs can also be considered under Swarna Jayanti / Golden Hublee Scheme in rural / Semi – Urban places.

Pre-payment Charges: NIL

  • Prepayment /Pre –Closure Charges:

Housing loans- Prepayment /Pre –Closure/Switch over to other Bank within 5 years of availing the loan:

    No Processing, Documentation and Inspection charges upto 31st March 2015.

How much you are entitled to?

  • Upto 75 months’ average gross income of the applicant.
  • To enhance loan eligibility, applicant has option to add income of spouse/children, expected rent, depreciation and income from other sources.
What is your contribution?
  •       20% of the cost of the project excluding stamp duty, registration charges.

Documents required

  • 2 passport size photos
  • Proof of Identification (Identity card /Passport /Voter Identification card / Driving License/AADHAAR)
  • Proof of Residence viz. tax receipt/ telephone bill/ electricity Bill etc.
  • Statement of account of the applicant/co-applicant for the past one year from their present Bankers.
  • Latest IT returns for 2 years with salary slip for the last 3 months of the applicant/Co-applicant/Guarantor in case of salaried person
  •  P & L Statement / Balance Sheet, past two years duly certified by the CA/Income tax assessment order/ IT returns, in case of Professionals/Self employed/Business person (for 3 years, if IT assessed).
  • Income Certificate issued by Revenue Authorities in case the applicant is an agriculturist.

IMPORTANT PROPERTY DOCUMENTS

  • Original Sale Deed / Partition Deed/Gift Deed/Conveyance Deed Prior title deeds (all link documents), original/certified copies.
  • Conversion Order, if any, in case of conversion of Agricultural land for Non-Agricultural purposes.
  • Encumbrance Certificate for the last 13 years from the Sub-Registrar
  • Copy of the agreement for sale/Letter of offer
  • Copy of the latest tax paid receipt (Advance IT, Property Tax, Municipal Tax etc.)
  • Copy of Share Certificate/NOC from Society/builder, wherever applicable.
  • Copy of License for construction.
  • Copy of the Approved Plan / Blue Print of the building / flat to be constructed therein.
  • Copy of the detailed estimation of the cost of construction.

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