Aditya Birla Housing Finance Mortgage Loan Interest rates in Jaipur
| 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 Jaipur
| 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 Jaipur
| 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 Jaipur 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
Aditya Birla Housing Finance Highlights
About Other Banks
Bajaj Finserv
ICICI Bank
Axis Bank
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Magma Fincorp
DHFL
Citi Bank
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IDBI Bank
IndusInd Bank
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Avanse
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TATA Capital
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Yes Bank
Canara Bank
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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 Jaipur
Jaipur, popularly known as the “Pink City”, and “Paris of India”, is the capital of Rajasthan state, India. Jaipur is worldwide famous for unique Architecture, Vastu, Astrology, Forts, Monuments, Palaces, Art and Craft, Culture and last but not least for unique Food.
Jaipur was founded on 18th November 1727 by Maharaja Sawai Jai Singh II, a Kachawaha Rajput, who ruled from 1699-1744. Initially his capital was Amber (now pronounced as Amer), lies at a distance of 11 km from Jaipur. Maharaja Sawai Jai Singh II felt the need of shifting his capital city because of safety reasons as it was likely to be attacked by a Mughal King Bahadur Shah after the death of Aurangzeb.
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Places To Be Visited In Jaipur
Pink City
To experience the originality, to experience the traditional touch of the glorious past, your stop should be at old city, famously known as the Pink City, which is famous for magnificent palaces. The founder was Sawai Jai Singh II. To offer cordial welcome to Prince of Wales in 1876, the entire city was painted in pink color, which resembles hospitality. You cannot help marvel the architectural brain as the construction of the city was planned on providing excellent ventilation through out.
Hawa Mahal
A stunning presentation of the rich architectural expertise of the past, Hawa Mahal is a not-to-miss tourist places in Jaipur. The Mahal was constructed by Maharaja Sawai Pratap Singh in 1799. True to the name it earned as the ‘Palace of the Winds’, Hawa Mahal has 953 windows to provide ventilation. The five-storey building does not have steps to reach upper floors. Slopes connect the storeys and it is said that the Mahal was constructed to enable the Royal women of Rajput family to view the happenings in the city.
City Palace
Once you are in Pink City, you will naturally be inclined to visiting City Palace, which is situated in Pink City. It was constructed by Sawai Jai Singh II between 1729 and 1732 AD. The palace complex comprises of Chandra Mahal and Mubarak Mahal. Now, Chandra Mahal has been converted into museum that houses exclusive handcrafted products and other products that depict the cultural heritage of the kingdom.
Amber Fort
Also known as Amer Fort, it is located in Amer, which is around 11 kilometers from Jaipur. It was constructed by Raja Mansingh in the year 1592. It was later expanded by Raja Jai Singh I. The red sandstone and marble stone construction reflect a blend of Hindu-Muslim architecture. The main entrance faces east and there are three more entrances. There are four courtyards in Amber Palace. One of the courtyards has the Public Audience Hall, called the Diwan-I-Aam.
Jantar Mantar Observatory
If you have any doubts about having to spend your time at an observatory on your tour, reconsider it. Jantar Mantar is not just like any other average observatory; it is ranked amongst the largest observatories of the world. Built during the period of Maharaja Jai Singh II, the astronomical observatory has the largest sundial of the world. Maharaja Jai Singh II had avid interest in various subjects including architecture, astronomy, philosophy and astronomy.
Dera Amer Elephant Safari
Dera Amer situated behind the hills of the famous Amer Fort is the ideal location for outdoor recreational and adventure activities in very close proximity to the city of Jaipur.