Loan eligibility is generally depends on Repayment Capacity and Property Value. Home loan is sanctioned for maximum tenure of 30 years and Plot loan is sanctioned for maximum tenure of 15 years.
Rate of Interest is depends on home loan product and volume of Amount. RBI will give a CIBIL OFFER to the eligible customers of large volume buyers.
As per RBI circulars, Bank will not charge any part payment and Pre-closure charges for floating rate of interest. In case of fixed Rate of Interest, Bank may charge 1% to 3% of loan amount for Pre-closure and part-payment options.
Most of the banks will give home loans depends on eligibility of repayment. Terms and conditions will be varied.
Home loan funding banks are SBI, IDBI, SYNDICATE, HDFC, LIC, AXIS, TATA CAPITAL Etc.
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