HOME LOANS

If you are planning to take a home loa...
HOME LOANS

If you are planning to take a home loan to buy your own dream home, you better do you homework right, else you would end up paying much more than you had bargained for, apart from the EMI. So, here’s a list of costs, charges and fees that lenders expect you to pay before and after you get your home loan.

1. Processing fee: All lenders charge you processing fee ranging from 0.5% to 1% of the loan amount, so a loan amount of, say, Rs 10 lakh, the processing fee of 0.5% works out to Rs 5, 000.

2. Legal fee: Banks and financial institutions may charge a flat amount as legal fee for scrutiny of legal documents such as agreement for sale, etc.

3. Technical valuation charges: The technical valuation charges pertain to the evaluation of the property you intend to buy in terms of legality and fair valuation of the property. Such evaluation is done by an expert who may be an architect, engineer or an accountant.

4. Franking fee: This fee is for certifying the payment of stamp duty by the buyer of the property. This fee can be in the range of 0.1% to 0.2% of the loan amount.

Business Loan

Avail loans up to ` 35 lakhs

Tenure up to 5 years

Innovative Products

Flexible tenure options

Easy process

Minimum documentation

Eligibility

Self Employed Customers

Doctors

Entities-

• Proprietorship

• Partnerships

• Limited Liability Partnership

• Private Limited Company

• Limited Company

 



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