Shelter is one of the three basic needs of human life. To have own home is the greatest feeling. This relief is now easily possible if one takes help of easy housing loans from HCBL (Hindustan Co-operative Bank Limited). The policy is named accordingly as HCBL ASHRAY because "Yeh Bank Zara Kuch Khas Hai". Though, home loan is also available with all the banks but simplicity and user friendly environment creation is one of the basic themes of HCBL. Banks needs to reach on the doors of users and thus the schemes have been designed in simplest manner. Housing loan provided by the bank is not meant for construction only but one can invest the same in renovation, purchase, extensions and various other purposes related with the erection of a dwelling unit. Now learn something about the salient features of Home loan from HCBL:-
Who is eligible: Any citizen of India who is fulfilling the under mentioned conditions is eligible to get home loan from this bank:-
(i) Salaried employees: Must be between the age of 21-60 years. Their profession should be of permanent nature. If the age of the borrower is more than 60, it can be increased on the discretion of bank.
(ii) In case of Self Employed persons, their age should be between 21-65 years and they should be in business minimum from two years.
(iii) Some of the cooperative societies and Group Housing societies are also eligible provided they have prior approval by the bank.
What should be the income criteria: This criteria is quite simple and suited to all.
(i) Salaried persons should have net (Take home) salary of minimum Rs. 10000/-.
(ii) Annual income for self employed persons should not be less than 1,50.000.00/-.
Extent of loan amount:
(i) Minimum amount is sanctioned from 50,000.00 to 1 Lakh.
(ii) Maximum amount is sanctioned from 70,000.00 to 2 Lakhs.
(Sanctioning of amount depends on the locality of applicant- Rural, Semi Urban or Metro city)
Repayment period: The loan can be repaid in 20 years. In this duration the pause period will be included. Though, moratorium period is optional and needs final approval from bank authorities. This duration will be counted from the release of 1st installment till 18 months or the construction work is completed whichever is earlier.
Two types of security: Primarily the property should be registered and well insured against any fire or other hazards. Collateral need is the NSC or LIC assignments. In special cases the fixed deposits with the bank may also be considered as security, but based on the discretion of the bank authorities.
Guarantor: Guarantee of only one person is quite sufficient for releasing the loan installments to a borrower. No compulsion of dual guarantor is needed to provide ease to the customers.
Pre Payment penalty: No penal charges are applied on the borrower in case he/she made the pre-payment. Even the borrower can return the money in next month but no additional charges will be levied. Home loan from HCBLwill force you to covert a lifetime customer. This is a commitment because "Yeh Bank Zara Kuch Khas Hai".
Who is eligible: Any citizen of India who is fulfilling the under mentioned conditions is eligible to get home loan from this bank:-
(i) Salaried employees: Must be between the age of 21-60 years. Their profession should be of permanent nature. If the age of the borrower is more than 60, it can be increased on the discretion of bank.
(ii) In case of Self Employed persons, their age should be between 21-65 years and they should be in business minimum from two years.
(iii) Some of the cooperative societies and Group Housing societies are also eligible provided they have prior approval by the bank.
What should be the income criteria: This criteria is quite simple and suited to all.
(i) Salaried persons should have net (Take home) salary of minimum Rs. 10000/-.
(ii) Annual income for self employed persons should not be less than 1,50.000.00/-.
Extent of loan amount:
(i) Minimum amount is sanctioned from 50,000.00 to 1 Lakh.
(ii) Maximum amount is sanctioned from 70,000.00 to 2 Lakhs.
(Sanctioning of amount depends on the locality of applicant- Rural, Semi Urban or Metro city)
Repayment period: The loan can be repaid in 20 years. In this duration the pause period will be included. Though, moratorium period is optional and needs final approval from bank authorities. This duration will be counted from the release of 1st installment till 18 months or the construction work is completed whichever is earlier.
Two types of security: Primarily the property should be registered and well insured against any fire or other hazards. Collateral need is the NSC or LIC assignments. In special cases the fixed deposits with the bank may also be considered as security, but based on the discretion of the bank authorities.
Guarantor: Guarantee of only one person is quite sufficient for releasing the loan installments to a borrower. No compulsion of dual guarantor is needed to provide ease to the customers.
Pre Payment penalty: No penal charges are applied on the borrower in case he/she made the pre-payment. Even the borrower can return the money in next month but no additional charges will be levied. Home loan from HCBLwill force you to covert a lifetime customer. This is a commitment because "Yeh Bank Zara Kuch Khas Hai".
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