Aditya Birla Housing Finance Mortgage Loan Interest rates in Rajkot
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 Rajkot
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 Rajkot
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 Rajkot 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
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IDBI 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 Rajkot
Rajkot is the fourth largest city in the state of Gujarat, India, after Ahmedabad, Surat, and Vadodara. Rajkot is the centre of the Saurashtra region of Gujarat. Rajkot is the 35th-largest urban agglomeration in India, with a population more than 1.2 million as of 2015.
Rajkot is the seventh cleanest city of India. Rajkot is also the 22nd-fastest-growing city in the world. The city contains the administrative headquarters of the Rajkot District, 245 km from the state capital Gandhinagar, and is located on the banks of the Aji and Nyari rivers. Rajkot was the capital of the Saurashtra State from 15 April 1948 to 31 October 1956, before its merger with Bombay State on 1 November 1956. Rajkot was reincorporated into Gujarat State from 1 May 1960.
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Places To Be Visited In Rajkot
Karba Gandhi No Delo / Mahatma Gandhi House
he Karba Gandhi No Delo is the house of the Mahatma Gandhi where he lived from the age of six. The Mahatma Gandhi House has a good collection of things related to the Mahatma Gandhi's life. The Mahatma's Passion for the handloom is preserved in the form of a small weaving school.
Lal Pari Lake and Randerda
Lal Pari Lake and Randerda is a picturesque picnic spot, situated about 5 kms. from Rajkot.
ISKCON Temple
ISKCON is stand for The International Society for Krishna Consciousness which is widely known as the ‘Hare Krishna Movement’ in the western countries. This community was founded by A. C. Bhaktivedanta Swami Prabhupada in New York in 1966 for the promotion of Bhakti in English speaking countries. It is one of the most popular religious places in the city.
Watson Museum
The Watson Museum and Library commemorates the work of Colonel John Watson, political agent from 1886 to 1889. It is a jumbled attic of the collection with the 3rd century inscriptions and a delicate ivory work overseen by a marble statue of Queen Victoria. The Watson Museum has collection of precious objects of colonial period, human history and culture, and History of Rajkot.
Aji Dam
Aji Dam is one of the most important water supplies of the city. There is a beautiful garden, zoo and children’s park outside the dam. So, you can enjoy with your family members here full day without paying anything. You can easily reach here from the city center, Rajkot. There are various private auto-rickshaws as well as city bus available from various locations of the city.
Wankaner
Wankaner is situated about 25 kms. from Rajkot. The Raja of Wankaner came to a political arrangement with the East India Company in 1807. It was then left largely to its own devices through the 19th century. Maharaja Amar Singhji introduced wide ranging reforms. He was also responsible for building the Ranjit Nilas Palace, visible from miles across the plains. It is built in a variety of European and Indian styles. Today it is run by Maharaja Rajasaheb Pratapsinghi as a guesthouse.