Housing Loan

Housing Loan Assistance

Purpose

For construction, purchase / repair / renovation / alteration of a house or for purchase of a plot for the construction of a house. Get details of apartments in thrissur from here.

Margin Amount

Customers have an option of margin amount from 10% to 25% depending on the loan amount which may vary as per R.B.I norms & policy of Banks.

Collateral Security

Collateral security for a Flat or Villa from TBPL is the property sale deed which will be kept in the bank custody till the full repayment of the loan amount.

Processing Charges

The normal processing charge for home loan is 0.4% of the loan amount or maximum up to Rs.10,000/- . This may vary as per bank norms.

Persons eligible

All Resident / Non-Resident Indians with a regular monthly income, Spouses of Non-Residents, residents who receive regular monthly income, salaried persons, self employed businessmen, professionals and agriculturists, who have regular monthly income and who are filing ITR for the previous three years are eligible to get home loan depending on their repayment capacity. The age should be such that the borrower is able to close the account before he attains the age of 70.

Repayment

The loan tenure is maximum 30 years. We can opt loan tenure for any number of years less than 30. We can repay the whole loan amount at any point of time without any additional payments.

Insurance

We can take insurance for the property as per the norms of the banks.

Eligible Amount Of Loan

Individual’s Over 18 years of age with steady source of income Conditions Apply* View the list of villas for sale in Thrissur.

Loan disbursement

As per the terms and conditions of construction / bank loan agreement, the loan amount will be disbursed directly to the builder, as per the construction stages.

Checklist of Documents required for Home Loan

Duly filled Loan Application
Proof of Identification:
- Valid driving license or
- Ration card or
- Passport or
- Voter’s ID card or
- Bank passbook and
- PAN Card
Income Documents

Salaried individuals

Form 16
Certified letter from Employer
Pay slip (Last 2 months)
IT returns (for 3 years)
Apart from the proof of income of the salaried individual, he would also have to
furnish investment proofs, if any (like fixed deposits, shares, etc) and his passport-size photographs.

NRI Individuals

Passport copy with valid visa. If from Saudi, valid Exit Entry visa
Last 3 months salary slip
Last 1 year statement of the foreign bank account
Last 1 year statement of the NRI bank account

Business class

A brief introduction of his profession/business
Passport size photographs
Photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act
Photocopy of Registration Certificate for deduction of Profession Tax
Proof of investments
P/L statement for previous 3 years