217      
3050 Crores

Housing Loan

We, at Lokmanya, completely understand what owning your home means to you and your family.
To own a place of one’s dreams is every person’s heartfelt desire – a home to return to after a hard day’s work and seeing your family safe and provided for. We help you to realise your long cherished dream of owning your home through hassle free and customer friendly home loans. Presenting the home loan you have been looking for.

Salient Features of Housing Loan Scheme:

  • Member of the Society.
  • Either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.
  • Individuals who may be employed/self-employed in business having regular income.
  • Permanent employee of Central/State/Defense/Police Force/Public or Joint Sector Undertaking/reputed firms/established Educational Institution/Professional/Businessmen having regular income.

 

Purpose of Loan

  • Construction of independent house/flat.
  • Purchase of independent house/flat.
  • Repair/Improvement/Extension/furnishing/renovation of house property.
  • Repayment of existing housing loan.
  • For purchase/construction of second property (independent house/fla

 

Margin Money

  • For purchase/construction, 25% of the value of the property
  • For repairs, 25% of total cost of repair

 

Repayment Details

  • Moratorium up to 6 months wherever loan is taken for construction of flat or building.
  • By EMI or Regular.
  • The maximum repayment period should not exceed 15 years for construction/purchase of house.

 

Rate of Interest

  • 17% Reducing Balance

 

Processing Charges & Service Tax

  • 0.70 %  Processing Fees and Other Charges (Inclusive) PLUS Service Tax as applicable.

 

Other Attractive Features

  • No prepayment penalty
  • Insurance facility against Fire, allied perils including Earthquake, Personal Accident (Death)
  • Flexible repayment schedule
  • Loan sanctioned within no time if application and documentation fulfilled as per requirement.
  • Interest on a daily reducing balance basis.

 

Criteria for Loan Sanctioning

  • Photo Identity Proof:

         - Pass port

         - PAN card

         - Voters Identity Card

         - Driving License

  • Residence Proof:

         - Telephone Bill

         - Letter from any recognized Public Authority

         - Electricity Bill

         - Ration Card

         - Letter from employer subject to satisfaction of Society

         - Properly Tax Book/Receipt

         - Registered Lease Deed

  • Application on prescribed form.
  • Two photographs of borrower and guarantors with complete profile.
  • Income proof of the borrower such as Income Tax Return, Financial Statements of the Firm, copy of Bank Pass Book, etc.
  • Approved plan of the building.
  • Permission letter of the Corporation/Municipality/Town planning Authority.
  • Estimate from approved architect.
  • Agreement to sale from Vendor/Builder/Developer.
  • Original Sale Deed, Property Extract, Nil Encumbrance for 13 to 15 years.
  • Legal opinion report of approved advocate.
  • Loan statement and confirmation letter from the Bank/financial institution of existing loan account in case of takeover loans.
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