FAQS-Frequently asked questions

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What are the documents required at the time of application?

How do I know that all my documents with the application are proper?

I intend to co-own, the property with my brother, sister, father, mother. Will I be eligible for a loan

What is the rate of interest that will be charged on my loan?

Is my information safe?

How is an EMI (Equated Monthly Installment) calculated?

What is a fixed rate of interest?

What is a floating rate?

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What are the documents required at the time of application?

A passport size photograph,PAN card,Voters ID\Ration card,Passport or license for age-proof,Last six months' bank statement,Latest Form 16,Certified IT returns for the past 3 years,

How do I know that all my documents with the application are proper?

One needs to submit the application form along with the necessary documents. On receipt of your application, our loan officer will review it, ask questions wherever necessary and convey its decision to you.

I intend to co-own, the property with my brother, sister, father, mother. Will I be eligible for a loan

No! parent-son combination and a husband-wife combination is only allowed to get a loan.

What is the rate of interest that will be charged on my loan?

The Fixed Rate of Interest normally remains fixed over the tenure of the loan. This rate remains constant after the final disbursement has been made. It is ideally suited for situations where you expect the rates of interest to go up in the future and this fluctuation in the rates does not affect you adversely. In certain cases of Home Loans the disbursement takes place as per the stages of construction of the property i.e. the disbursement is spread out over a period of time. In such cases it is quite possible that during this period there is a possible change in the interest rate in the market. Irrespective of the fact that you are either under the fixed rate or the variable rate scheme, the new rate of interest would apply to the extent of undisbursed portion of the loan amount. The rate of interest would remain fixed at the final weighted average rate at which the loan was disbursed.

Is my information safe?

We take consumer privacy seriously. For details, please refer to our Privacy Policy.

How is an EMI (Equated Monthly Installment) calculated?

EMI Formula: l x r [(1+r)n /(1+r)n-1 ] x 1/12
l = loan amount
r = rate of interest
n = term of the loan

What is a fixed rate of interest?

Fixed rate of interest means the rate of interest remains unchanged for the entire duration of the loan. This means you do not benefit, even if rates of interest drop in the market.

What is a floating rate?

This is the rate of interest that fluctuates according to the market lending rate. This means you stand the risk of paying more than you budgeted for in case the lending rate goes up.