HDFC Bank Lease Rental Discounting Loan Interest rates in Nashik
| Up To 50,00,000 | 50,00,000 Above | |
|---|---|---|
| Commercial Properties | 10.50% | 10.00% |
Features of HDFC Bank Lease Rental Discounting Loan Nashik
| Type | Features |
|---|---|
| Processing Fee | 1.0% |
| Pre Closure Charges | 2.5% |
| Part Payment Charges | Allowed |
| Min Tenure | 5 Years |
| Max Tenure | 15 Years |
| Min Age | 23 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.1,00,000/- |
| Max Loan Amount | Rs.30,00,00,000/- |
HDFC Bank Lease Rental Discounting Loan Nashik Charges
| Type | Charges |
|---|---|
| Penal Interest | @24% Per Annum |
| Duplicate Statement Charges | Nil |
| Insurance Cover | Upto Loan amount |
| Inspection Charges | At Actuals |
| Legal Opinion Valuation Charges | At Actuals |
| Bounce Cheque Charges | Rs.550/- |
| Switch Variable To Fixed | Not Applicable |
| Switch Fixed To Variable | Not Applicable |
| Photocopy Documents | Rs.1000 + Taxes |
| Charge For Exchanging E C S Mandate | Rs. 500/- |
| Repayment Schedule Charges | Rs.200/- |
| Loan Re Schedulement Charges | Nil |
| N O C Issuance Charges | Nil |
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)
HDFC Bank Lease Rental Discounting Loan FAQ's
About HDFC Bank
According to the Brand Trust Report 2014, HDFC was ranked 32nd among India's most trusted brands. HDFC was ranked 45th on the list of top 50 Banks in the world in terms of their market capitalization.
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About Other Banks
Bajaj Finserv
ICICI Bank
Axis 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
Aditya Birla Housing Finance
Capital First
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
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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 Nashik
Nasik or Nashik is a religious city in Maharashtra located in the northwest part of the state of Maharashtra. Nasik has been called the “Wine Capital of India"" and is situated in the Western Ghats, on the banks of River Godavari. This city has proved to be the best ever rising metropolis in Maharashtra and has grown immensely in the past two decades.Legend Sri Rama with his brother Lakshmana and wife Sita spent 14 years of their exile at Tapovan near Nasik. At the very place Lord Lakshmana slashed off the nose of Surpanakha, with the blessings of Lord Rama and therefore this place is named as ""Nasik” which means nose. A number of references to the Ramayana era are related with Nasik, which include the Sita Gumpha caves in Panchvati.
Nasik around 150 BC was supposed to be the country's major market. The city was under the ruling power of Mughal’s in 16th century and was renamed Gulshanabad. It is also famous for its contribution in struggle of independence of India. This is the birth place of known independence fighters like Veer Savarkar and Anant Laxman Kanhere.
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Places To Be Visited In Nashik
Trimbakeshwar Temple
Trimbakeshwar is located in Nashik. People all across India visit Trimbakeshwar to express their faith and devotion. It is one amongst the twelve Jyotirlingas of Lord Shiva. The temple is located at the base of the Bramhagiri Mountain. It is considered holy as the sacred Godavari River originates from here. It is also said to be the birth place of Lord Ganesha.
Saptashrungi
The Saptshrungi Garh is a holy place situated approximately at a distance of 60 KM from Nashik. According to the mythology it is an abode of Goddess Bhagawati. Innumerable The name Saptshrungi means seven mountain pinnacles. There are around 108 water reservoirs on this Mountain, which are known as Kundas.
Coin Museum
Imagine visiting a museum which is amidst a mountainous region and that is endowed with an enticing panorama. Yes, the Coin Museum is located in close proximity of the Anjeri Hill in Nashik. It was established in the year 1980, in order to educate the common masses about Indian coins and their history.
Panchvati
Holy land for the believers of Ramayana, Panchvati attracts a lot of pilgrims. A serene town located near Nasik, the site offers small sightings having a lot of significance in the epic of Ramayana.
Pandavleni Caves
Pandavleni caves in Nashik these caves, as they are situated on a hummock. Located at a height of approximately 300 ft, amidst a thick green forest, these caves also make a perfect destination for peace lovers and nature admirers.
Vihigaon Waterfall
The Vihigaon Waterfall is in Nashik. It is based in the in the heart of the forest, in the Western Ghats. It is so popular for its natural beauty that it has been utilised as a prominent location in several films, short as well as feature.