Aditya Birla Housing Finance Mortgage Loan Interest rates in Vijayawada
| 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 Vijayawada
| 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 Vijayawada
| 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 Vijayawada 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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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 Vijayawada
Vijayawada earlier known as Bezawada, is the third largest city in Andhra Pradesh, India, located on the banks of the Krishna River and bounded by the Indrakiladri Hills on the West and the Budameru River on the North. Vijayawada literally translates to "The Place of Victory". Its prominence as a major trading and business center has earned it the title of, “The Business Capital of Andhra Pradesh”.
Vijayawada history reveals that Bezawada (Vijayawada) was ruled by King Madhava Varma. Chinese Buddhist scholar Xuanzang stayed few years in Bezawada (Vijayawada) in around 640 A.D. to copy and study the Abhidhamma Pitaka, the last of the three pitakas (Pali for baskets) constituting the Pali canon, the scriptures of Theravada Buddhism.
Places To Be Visited In Vijayawada
Kanaka Durga Temple
Kanaka Durga Temple is located on the Indrakiladri hill, on the banks of Krishna River. It is a famous Hindu temple, which is dedicated to Goddess Kanaka Durga. According to the legends, Arjuna obtained the Pasupatha astra at this site and after gaining the astra, he constructed this temple for Goddess Durga.
Mangalagiri
Mangalagiri is one of the eight important Mahakshetrams (sacred places) in India. It is also oldest Vaishnavite Temples in the entire South India, whose presiding deity is Sri Lakshmi Narasimha Swamy. This temple was built by the Zamindar Sri Raja Vasireddy Venkatadri Naidu during the period 1807-1809.
Undavalli Caves
Undavalli caves were carved out of solid sandstone on a hillside in the 4th to 5th centuries and is a paradise for history lovers. There are three layers in the cave. The lower level resembles to the Jain abode with many chambers and Thirthankara Sculptures. The second level has as the statue of reclining God whose identity cannot be found out. However, locale believes the statue is of Lord Vishnu. The caves are made in Gupta style of architecture.
Kondapalli Fort
A fort with roots in parallel histories, this one is said to have been built as a center of recreation, business and trade. The main entrance gate, carved out of a single boulder of granite is called the Dargah Darwaja.
Mogalarajapuram Caves
These are ancient caves, dating back to 5th century and one of the most significant landmarks of the heritage of Vijayawada. Though a lot has been lost to ruins, the caves still hold religious and spiritual value as they house idols of Lord Nataraja and Lord Vinayaka amongst many more, a few cave temples
Prakasam Barrage
Prakasam Barrage is a 1223.5 m long structure across the Krishna River, which connects Krishna and Guntur districts. The construction of the barrage started in 1852 and completed in 1855.