Open Plot Mortgage Loan
Leverage the potential of your open plot to meet your financial goals. Creditmarg provides Open Plot Mortgage Loans with flexible terms and a hassle-free application process.
| Lenders | Interest Rates (p.a.) |
|---|---|
| Axis Bank | 10.50% – 10.95% |
| Bank of Baroda | 9.70% – 18.60% |
| Bank of India | 10.10% – 12.85% |
| Bank of Maharashtra | 10.45% – 11.95% |
| Central Bank of India | 9.75% – 13.00% |
| Federal Bank | 12.60% onwards |
| Godrej Housing Finance | 9.75% onwards |
| HDFC Bank Limited | 9.50% – 11.00% (floating) 11.80% – 13.30% (fixed) |
| ICICI Bank | 10.85% – 12.50% |
| IDFC First Bank | 9.25% onwards |
| India Shelter Finance Corporation Ltd. | Depends on the lender’s risk assessment of a borrower, quality of collateral and borrower’s income assessment |
| Karur Vysya Bank | 10.20% – 13.40% |
| L&T Finance | 9.50% onwards |
| LIC Housing Finance | 9.50% – 11.55% |
| PNB Housing Finance | 9.24% – 15.00% |
| Punjab National Bank | 10.40% – 12.75% (floating) 11.40%-14.00% (fixed) |
| SMFG India Credit Company Ltd. (Formerly known as Fullerton India Credit Company Ltd.) | 13.00% onwards |
| State Bank of India | 10.00% – 11.30% |
| Tata Capital Housing Finance | 9.00% onwards |
| UCO Bank | 10.85% – 12.00% |
| Union Bank of India | 10.45% – 13.10% |
Quick Guide on Home Loan:
Purpose:
A home loan can be used for purchasing a new house, construction of the house on a plot, home improvement, extension, and renovation of your existing house.
Key Features :
- Eligibility: Loan available for both salaried and self-employed borrowers between the age group of 21 and 75 years.
- Security: Mortgage of home you are planning to purchase, renovate, or construct.
- Loan Amount: In the range of Rs. 10 Lakh to Rs. 1000 Cr.
- Loan to Property Value Ratio: Varies from 75% to 100%.
- Loan Tenure: Can range from 5 to 30 years.
- rates: Home loan Interest Rates start from 7.99%. Special rates for women borrowers.
- Lowest EMI: Lowest EMI of Rs. 836 per lakh.
- Processing Fees: Up to 1% of the loan amount or a Maximum of Rs. 10,000.
- Prepayment Charges: Nil charges on floating rate home loans.
- Other Charges: Legal charges, technical charges, etc.
- Documents Required: Address Proof, Identity Proof, Income.
Sanction List of Documents:
Salaried:
- Application form completed with 2 photographs duly filled in and signed.
- ID Proof: PAN CARD.
- Residence Proof: Latest Telephone bill / Bank Statement containing the address for the last 6 months / Electricity bill / Ration card / Letter from Employer.
- Salary slips for the last 3 months.
- Latest Form 16.
- Copy of Appointment Letter with Latest CTC & Confirmation Letter.
- Original Bank Statement / Passbook of salary A/C for the last 6 months (updated).
- Last Qualification Proof.
- Previous Employment details if an applicant is on probation.
- Investment Proof.
- Processing Fees Cheque.
- Repayment Track Record if any.
Self Employed:
- Application form completed with 2 photographs duly filled in and signed.
- Â ID Proof: PAN CARD.
- Residence Proof: Aadhaar Card/ Latest Telephone bill / Bank Statement containing the address for the last 6 months / Electricity bill / Ration card
- Last Three Year Income Tax Return with computation of Income and Profit Loss Account And Balance sheet With CA attestation.
- Current Account And Saving Account Bank Statement / Passbook for the last 6 months (updated).
- Last Qualification Proof.
- Business Vintage Proof ( Minimum 3 years Old)
- Investment Proof.
- Processing Fees Cheque.
- Repayment Track Record if any.