HDFC Limited Lease Rental Discounting Loan Interest rates in Trivendrum Thiruvananthapuram
| Up To 50,00,000 | 50,00,000 Above | |
|---|---|---|
| Commercial Properties | 10.50% | 10.00% |
Features of HDFC Limited Lease Rental Discounting Loan Trivendrum Thiruvananthapuram
| Type | Features |
|---|---|
| Processing Fee | Upto 2.0% |
| Min Tenure | 5 Years |
| Max Tenure | 15 Years |
| Min Age | 24 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.15,00,000/- |
| Max Loan Amount | Rs.30,00,00,000/- |
HDFC Limited Lease Rental Discounting Loan Trivendrum Thiruvananthapuram Charges
| Type | Charges |
|---|---|
| Penal Interest | 24% Per Annum |
| Bounce Cheque Charges | Rs.200/- |
| Switch Variable To Fixed | 1.75% on Outstanding |
| Switch Fixed To Variable | 1.75% on Outstanding |
| Photocopy Documents | Rs.500/- |
| C E R S A I Charges | "Rs 50/- For Loans up to 5 Lakhs, Rs 100/- For Loans above 5 Lakhs " |
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 Limited Lease Rental Discounting Loan FAQ's
About HDFC Limited
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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 Trivendrum Thiruvananthapuram
Thiruvananthapuram or Trivandrum is the capital of Kerala and also the third largest city. Located in the south-western tip of peninsular India, Located on the banks of Karamana and Killi Rivers, it is categorised under Seismic Zone III by the Geological Survey of India.Thiruvananthapuram got its name from the deity Lord Anantha or Shesha of Sri Padmanabhaswamy Temple of 7th AD, on which Lord Padmanabhaswamy (Vishnu) is seen to be in a reclining pose.
Thiruvananthapuram was a famous port city during 1050 BC and it maintained trade relations with the Middle East and Mediterranean countries. The region prospered in 1745 under King Marthanda Varma, who formed the princely state of Travancore and made Thiruvananthapuram its capital. Thiruvananthapuram was submitted to Lord Padmanabhaswamy, the presiding deity of Sri Padmanabhaswamy Temple, and the Rajas of Travancore thence ruled the region on behalf of Lord Padmanabhaswamy as ‘Padmanabhadasas'.
Places To Be Visited In Trivendrum Thiruvananthapuram
Peppara Dam & Wildlife Sanctuary
It is accessible from Vithurai on Trivandrum - Ponmudi road. Peppara Wildlife Sanctuary is merged partially with the Palode reserve and the Kottoor reserve, all the three together forming the whole of the area covered by the Peppara Wildlife Sanctuary.
SHANGHUMUGHAM BEACH
At a distance of about 10 kms from Trivandrum Central Railway Station, Shanghumugham Beach is a famous beach around Trivandrum. The huge sculpture of a Nymph (Jalakanyaka) made by the famous sculptor Sri Kanai Kunjuraman and a restaurant shaped like a star fish are added attractions here.
Aruvikkara Dam
At a distance of about 15 kms from Trivandrum Central Railway Station, Aruvikkara Dam is a beautiful dam constructed over Karamana River. The dam is the main source of water to the city of Trivandrum. There is a small park laid out with an artificial waterfall. It is dangerous to take a bath in the dam because of the innumerable rocks that have huge curve-ins.
Kovalam
The beautiful Kovalam Beach resort is also known as the 'Paradise of the South'. Kovalam means 'A grove of coconut trees' and the whole area beyond the shores around Kovalam is literally filled with endless sight of coconut trees offering magnificent views while approaching the beach. Kovalam gained importance when Maharani Sethu Lakshmi Bai, the Queen of Travancore, built a palace.
Anjengo/Anchuthengu Fort
Anjengo Fort (also called as Anchuthengu Fort) is a 16th Century fort constructed by the English East India CompanyIt was the first settlement of East India Company in Kerala. Attingal Queen allowed the British to build a fort and trading settlements here. The remains of the old English Fort, which had withstood many a siege, can be seen here even today. Anchuthengu fort was one of the most important bastions of the British East India Company.
Ponmudi
Ponmudi, meaning Golden Crown, is part of the Western Ghats mountain range that runs parallel to the Arabian Sea. Ponmudi is surrounded by scenic hills, spice plantations, tea estates, natural springs and winding streams. Ponmudi was founded by Rishi Parshuram, a prominent Indian mythological figure.Ponmudi is blessed with scenic splendor and natural beauty. It has a carpet of thick tropical forest that rolls down to the foot of the hill range. A variety of wildlife inhabits the hills.