Aditya Birla Housing Finance Lease Rental Discounting Loan Interest rates in Agra
Features of Aditya Birla Housing Finance Lease Rental Discounting Loan Agra
| Type | Features |
|---|---|
| Processing Fee | Upto 2.0% |
| Pre Closure Charges | 4.0% |
| Part Payment Charges | Allowed |
| Min Tenure | 5 Years |
| Max Tenure | 15 Years |
| Min Age | 21 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.25,00,000/- |
| Max Loan Amount | Rs.5,00,00,000/- |
Aditya Birla Housing Finance Lease Rental Discounting Loan Agra Charges
| Type | Charges |
|---|---|
| Penal Interest | 24% Per Annum |
| Duplicate Statement Charges | Rs.200/- |
| Bounce Cheque Charges | Rs.750/- |
| Switch Variable To Fixed | 2% of the loan outstanding |
| Switch Fixed To Variable | 2% of the loan outstanding |
| Photocopy Documents | Rs.200/- per instance |
| C I B I L Report Issuance Charges | Rs.50/- per instance for Consumer and Rs.500/- for Commercial CIBIL |
| Charge For Exchanging E C S Mandate | Rs.750/- per instance |
| Loan Re Schedulement Charges | 0.50% of the loan outstanding |
| N O C Issuance Charges | Rs.500/- |
| C E R S A I Charges | "Rs 250/- For Loans up to 5 Lakhs, Rs 500/- For Loans above 5 Lakhs " |
Documentation For Lease Rental Discounting
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Address Proof For Home Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- Min of 15 years of Link documents of Property
- Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
- Property Sanction plan
- BRS/LRS copies (if required, any)
Aditya Birla Housing Finance Lease Rental Discounting Loan FAQ's
About Aditya Birla Housing Finance
Aditya Birla Housing Finance Highlights
About Other Banks
Bajaj Finserv
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
LIC Housing Finance
Fullerton
TATA Capital
Credila
HDFC Limited
Capital First
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
Canara Bank
Bank of Baroda
Why Lease Rental Discounting?
Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.
Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.
In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.
Expert Advice
Best Practices for Home Loan
Things not to do for Home Loan
Lease Rental Discounting Vs Mortgage Loans
| Lease Rental Discounting | Mortgage Loan |
|---|---|
| Home loan can be availed for own/purchase of new property (Home or Flat). | Mortgage loans will be provided based on already owned property. |
| Under Home Loan, loan can be availed only for purchase of new property. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. | Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines. |
| Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. | Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part pre Payments will be allowed in Housing Loans. | There were no part prepayment will be allowed for Mortgage loans. |
| Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| You can avail max of 80% of the property value as a home loan as per your eligibility criteria. | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your home loan. | Top up facility will be vary from bank to bank internal guidelines. |
About Agra
Agra is a city on the banks of the river Yamuna in the northern state of Uttar Pradesh, India.The Hindu epic Mahabharata refers to it as ‘Agraban’, part of Brij Bhoomi, the homeland of Lord Krishna. , Agra is best known for the Taj Mahal, one of the Seven Wonders of the modern World.
Emperor Shah Jahan built this exquisite white marble mausoleum for his favourite queen Mumtaz Mahal.The monument was commissioned in 1631 and took 22 years, and 20,000 artisans to complete. An entire township now known as Taj Ganj came up around the site. Here, craftsmen live and sell their wares of marble and stone inlay and replicas of the Taj. After the reign of the last great Mughal, Aurangzeb, Agra fell into the hands of the Jats and then the Marathas. In 1803, the British under General Lake captured the city. Once again, it secured its position of eminence as the capital of the north-western provinces.
Other Cities Loan Offers
Places To Be Visited In Agra
Chini Ka Roza
The tomb of Afzal Khan, the persian poet and minister at Shah Jehan's court gets its name from the brightly coloured glazed tiles that decorate it . Lies just 1km beyond itmad -ud -daula.
Sikandara
A suburb of Agra, only 13 km. From the Agra Fort. The last resting place of the Mughal Emperor Akbar. Akbar was the greatest of the Mughal emperors and one of the most secular minded royalties of his time. He was the heir to a long tradition of oriental refinement, a great patron of the arts, literature, philosophy and science. A visit to Akbar's monument opens before one, the completeness of Akbar's personality as completely as the Taj Mahal does of Mumtaz Mahal's.
Taj Mahal
Agra is famous as being home to one of the seven wonders of the world-the Taj Mahal. The architectural splendour of the mausoleums, the fort and the palaces is a vivid remainder of the mausoleums, the fort and the palaces is a vivid reminder of the capital in the 16th and early 17th centuries.
Agra Fort
Built by the great Emperor Akbar in 1565 A.D. the fort is a masterpiece of design and construction. Within the fort are a number of exquisite building, including the Moti Masjid, Diwane-I-Aam, Diwani-I-Khas and musanman Burj, where the Emperor Shah Jahan died in imprisonment beside Jahangirs place, Khaas Mahal and the Sheesh Mahal.
Itmad - Ud Daula
To the north of the fort and across the river Yamuna are several fine examples of Mughal architecture. The Itmad -Ud -Daula as a by the Empress Noor Jehan as a memorial to her father Mirza Ghiyas Beg , is beautifully ornamented with pietra dura inlay and lattice work marble screens.
Fatehpur Sikri
Imposing gateways and light- hearted palaces were built in red sandstone within this fortified city only to be abandoned a few years later. Among its many architectural game are the places for his queens - Jodha Bai, Mariyam and his Turkish sultana, built in varying styles, each perfect in itself.The Diwan-e-Khas entirely unique in its concept is a tall vaulted room with an intricately carved central pillar and capital supporting a platform that once held the emperor's throne. Narrow galleries link this to the corners of the room where it is believed his ministers sat the airy panch mahal a 5 storied structure rising in pyramidal fashion was probably used by the ladies of the court. Set like a jewel in a courtyard of pink sandstone is the finest building here, the marble tomb of Salim Chisti enclosed by finely carved, lacy marble screens. The Buland Darwaza, an imposing gateway 54 m high was built to commemorate Akbar's Aligarh the famous university town is a center of Islamic studies. The city is also noted for its handicrafts and metal ware.