Aditya Birla Housing Finance Mortgage Loan Interest rates in Ahmednagar
| others | salaried | self employed | |
|---|---|---|---|
| Commercial Properties | 11.50% | 11.50% | 11.50% |
| Industrial Properties | 11.50% | 11.50% | 11.50% |
| Residential Properties | 11.50% | 11.50% | 11.50% |
Loan To Value (LTV) For Aditya Birla Housing Finance Mortgage Loan in Ahmednagar
| others | salaried | self employed | |
|---|---|---|---|
| Commercial Properties | 55.00% | 55.00% | 55.00% |
| Industrial Properties | 50.00% | 50.00% | 50.00% |
| Residential Properties | 60.00% | 65.00% | 60.00% |
Features of Aditya Birla Housing Finance Mortgage Loan Ahmednagar
| Type | Features |
|---|---|
| Processing Fee | 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.15,00,000/- |
| Max Loan Amount | Rs.30,00,00,000/- |
Aditya Birla Housing Finance Mortgage Loan Ahmednagar 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 Mortgage Loan
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 Mortgage Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Mortgage Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Mortgage 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)
Income Proof For Mortgage 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
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Aditya Birla Housing Finance Mortgage Loan FAQ's
About Aditya Birla Housing Finance
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Things Keep In Mind While Avail a Mortgage Loan
A mortgage is actually made up of several parts – the collateral you used to secure the loan, your principal and interest payments and insurance.
Since most mortgages last 10 to 15 years of monthly payments, you should understand the how exactly it will works for you.
Type of Collateral You Are Offering
Principal And Interest
The principal is simply the sum of money you borrowed on mortgage.
Interest is what the lender charges you to use the money you borrowed, usually expressed as a percentage called the interest rate.
Principal and interest comprise your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your monthly payments largely go toward paying off the interest in the early years, and gradually reduce the principal later on.
Factors That Affect your Loan Interest Rates
Expert Advice
Best Practices for Mortgage Loan
Things not to do for Mortgage Loan
Mortgage Loans Vs Lease Rental Discounting
| Lease Rental Discounting | Mortgage Loan |
|---|---|
| Lease Rental Discounting (LRD) will be based on the actual rental you are receiving on the property. | Mortgage loans will be provided based on already owned property. |
| There is no restriction on LRD loan usage. It can be used for any purpose. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Lease Rental Discounting (LRD) will be provided for max of 10 years, However it depends on the rental agreement Tenure. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Interest rate will be very from 11.00% to max of 15.00% based on the bank to bank. Generally Lease Rental Discounting (LRD) will be fixed interest loans. | Interest rate will be very from 10.5 % to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| The money received from the LRD will be used for any purpose. There is no end use restriction on the amount. | 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. |
| Loan can be availed up to max of Rs. 20.0 Cr under Lease Rental Discounting (LRD). | Mortgage Loans can be avail up to Rs. 30.0 Cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There will be pre payment changes will be applicable for Lease Rental Discounting (LRD). This will be vary from 1% to 4% as per bank internal guidelines. | 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 based on the internal policies of the banks for Lease Rental Discounting (LRD). | Part/Prepayment will be allowed as per bank internal policies for Mortgage loans. |
| Lease Rental Discounting (LRD) eligibility depends on the type of tenant and credibility of tenant. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| Banks can consider 90% of the Lease Rental value as repayment for loan under the Lease Rental Discounting (LRD) . | 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 Lease Rental Discounting (LRD). | Top up facility will be varying from bank to bank internal guidelines. |
About Ahmednagar
Ahmednagar district is the largest district in the state of Maharashtra, western India, and situated in the west bank of the Sina river, Ahmendnagar is famous for its magnificent architectural monuments from the Nizam Shahi dynasty. Founded by Ahmad Nizam Shah Bahri, today the city is home to several sugar factories and is also the birthplace of the cooperative movement. Marathi is the primary language for daily-life communication and the city enjoys its own distinctive traditional cuisine distinguished by its lip-smacking taste.
The historical Ahmednagar city is the headquarters of the district. Ahmednagar was the seat of the Ahmednagar Sultanate of late medieval period (1496–1636 CE). This district is known for the towns of Shirdi associated with Sai Baba and Meherabad associated with Meher Baba. Ahmednagar district is part of Nashik Division.
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Places To Be Visited In Ahmednagar
Amriteshwar Temple
Amriteshwar Temple has been built as per the Hemadpanti architectural style and dates back to 1100 AD. The main attractions of the temple comprise of its intricate carvings. Kedgaon:Kedgaon Town is around 3 km from Ahmednagar Railway Station. It is also the home of famous person Akshay Khandve. The village has a famous Durga/Renuka goddess temple.
Mula Dam
The biggest Dam in Ahmednagar city. It is named as "Dnyaneshwarsagar Dam". It is very near to Mahatma Phule Krishi Vidhyapeeth. Near the Dam there is a beautiful rest House.
Wilson Dam
Wilson Dam is one of the most popular attractions of the Bhandardara hill station of Maharashtra. The dam was built on the Pravara River, in the year 1910, and resulted in the creation of the Arthur Lake. Perched at an altitude of around 150 meters above sea level, the dam is one of the most popular sites in the region, for going on a picnic.
Ahmednagar Fort
The Ahmednagar Fort is located in the heart of the city of Ahmednagar, Maharashtra. It was the headquarters of the Ahmednagar Sultanate. In 1803 it was taken by the British in during the Second Anglo-Maratha War. Later it was used by the British Raj as a prison. Currently the fort is under the administration of the Armoured Corps of the Indian Army.
Meherabad
Meherabad was originally an ashram established by Meher Baba near Arangaon Village, India in 1923 about 9 kilometres south of Ahmednagar. It is now the site of Meher Baba's samadhi (tomb-shrine) as well as facilities and accommodations for pilgrims.Meher Baba, born Merwan Sheriar Irani, was an Indian mystic and spiritual master who declared publicly in 1954 that he was the Avatar of the age.