Products - ACCB Home Loan :
For purchase of built house/flat.
For Construction of house on land already purchased.
For Purchase of Land and construction of house their on.
For Purchase of Land/House through auction by government body such as Development Authorities, Housing Board and Municipal Bodies.
For Purchase House in self-financing schemes/Outright Purchase Schemes.
For takeover from other banks outstanding home loan
Quantum of Loan :
With Home loan, you can get a home loan suited to your needs. The loan amount depends on your repayment capability and is restricted to a maximum of 75% of the cost of the property or the cost of construction as applicable. In case of takeover maximum amount is 100% outstanding balance. Repayment capacity takes into consideration parameters such as income, age, number of dependants, spouse's/Son’s/Daughter in-law’s income, assets, liabilities, stability, continuity of occupation and savings history etc.
Rate of Interest :
Fixed rate of Interest: 11% p.a.
Floating Interest rate: for FIRST Year @9.00%, for SECOND and THIRD Year @9.50% and Above THIRD year 2% above from NABARD Borrowing Rate
Pre-closure charges @1% of the outstanding loan balance.
Repayment Period :
Maximum 20 years subject to restriction of age of borrower/date of retirement
Documents required along with duly completed Application Form.
Borrower related document :
Photograph - 3
Photo Identity Proof/Age Proof
Signature Verification Proof
Residence Address Proof.
Income Proof – Last three month’s Salary Slip/Copy of Form 16 in case salaried persons.
Copy of last three year’s income tax return along with computation of total income duly by a CA.
Nominal Member Application along with nominal member fee as per bank’s norms.
Bank Statement for last six months of relevant account
Repayment Track record of existing loans / Loan closure letter
Processing Fee
KYC documents of borrower(s) as well as Guarantor(s) - PAN Card, Photo Debit Card, Arms License, Ration Card of the Applicant, Freedom Fighter Pass, Employer Identity Card, etc with the condition that it must contain Name, Photograph and Signature of holder.
Advance EMI cheque(s)
Property related document :
Copy of title documents viz. Sale Agreement, Registry, Allotment Letter/Lease deed
Non-encumbrance certificate.
Valuation of the property or letter of demand.
Approved site plan if applicable.
Loan Documentation :
Loan Agreement on stamp paper as per bank's norms.
Guarantee deed on stamp paper as per bank's norms.
Power of attorney on stamp paper as per bank's norms.
Memorandum of deposit of title deeds.
Demand & time Promissory notes.
Letter of continuity.
Usance Certificate.
Letter of undertaking in the prescribed format.
Fixed Deposit receipt as per bank's norms.