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Taking a Home Loan in Rajkot- Charges, Documentation & Processes

· home loan,home loan in rajkot

Applying for a Home Loan in Rajkot? You can apply online for Home Loan in Rajkot from Bajaj Finserv. The Home Loan eligibility in Rajkot is as follows:

  • Indian Resident

  • Age between 25-58 years

  • Salaried professional with 3 years (minimum) of work experience

  • Minimum loan amount of Rs.30 lakh and maximum loan amount of Rs.10 crore

The minimum net salary required for Home Loans in Rajkot is Rs.30,000 and the minimum property value is Rs.20 lakh. There are some documents required for getting a Home Loan in Rajkot as well. These are the following:

  • Application Form

  • Photograph

  • Address Proof (Voter ID/Passport/Aadhar Card/Driving License)

  • ID Proof (Driving License/Voter ID/Aadhar Card/NREGA Job Card/PAN Card)

  • Last 6 months’ bank statements

  • Latest salary slips/Form 16

You can always use the Home Loan calculators to determine eligibility and also your EMI. Well, there are several things to consider before taking a Home loan, you just need to check. The fees and charges for Home Loans include the following:

  • Interest rate- 8.35%

  • Processing Charges- 1% of loan amount

  • Penal Interest- 2% per month

  • EMI Bounce Charges- Rs.3,000 for every bounce

  • Secure Fee- Rs.4,999/-

In case of individual borrowers on a floating rate who foreclose their loans in less than a month, there are zero foreclosure charges. However, for non-individual borrowers on a floating interest rate and all fixed rate borrowers, 4% is the foreclosure charge (where time period is less than a month) along with applicable taxes. Part prepayment charges are nil for individual floating rate borrowers in case of a time period less than 1 month. However, this is 2% of the part payment amount for non-individual floating rate borrowers and all fixed rate borrowers in case the time period is less than a month. The part payment amount should exceed one EMI.

Here are the steps you need to follow:

  • Enter personal details including your name, address, date of birth and contact information

  • Enter income details and you will be assisted in finding a suitable Home Loan deal

  • Enter details of employment

  • View the loan offer given to you and you can use the eligibility calculator to learn about the kind of offers you will get

  • Submit details of the property including size and location

  • Pay the secure fee online

  • The Relationship Manager will then contact you to help you with the entire process and documentation once this fee is paid

  • You have to then upload all your documents including address, ID, signature proof, employment and income details and photographs online

Thereafter, the loan application is verified and processed and this is followed by inspections and valuation of the property in question along with checking its legal status. Once everything has been done, the Home Loan will be sanctioned. With the agreement being signed and terms and conditions being agreed upon, the money will be disbursed accordingly.

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