Home Loan

Unlock Your Dream Home
 Certainly! Providing clear and concise information about housing loans on your bank’s website is essential for your customers. Let’s create a user-friendly summary that covers the key points:


What Is a Housing Loan? 

 A housing loan, also known as a home loan, empowers you to turn your  dream of owning a home into reality. Here’s what you need to know:

          

        NK Bank Home Loan: Features



Low Interest rates

Low processing charges

Higher loan amount

Free Credit Card

Longer tenures

Easy Top-up loans

  1. Purpose:
    • A housing loan is specifically designed for:
      • Constructing your own house.
      • Purchasing an under-construction or ready-built flat.
      • Taking over existing housing loans from other banks or institutions.
  2. Eligibility:
    • Salaried Employees, Businessmen, and Professionals with a regular source of income.
    • Salaried employees should have a minimum of 2 years of confirmed service.
  3. Loan Amount:
    • Maximum ₹50 Lakhs per beneficiary per dwelling unit.
    • Margin: Minimum 20% of the total cost (Agreement Cost + Stamp Duty + Registration).
  4. Repayment Tenure:
    • Flexible tenure, usually up to 20 years for salaried individuals and professionals.
  5. Interest Rates:
    • Competitive rates based on your creditworthiness.
    • Starting from 8.70%* to 10.00% p.a. (as of August 2024).
  6. Processing Fees:
    • 1% of loan amount + GST (as applicable)
    • MODT charges
  7. Security:
    • Equitable/legal mortgage of the house property being purchased.
    • Spouse guarantee (personal guarantee may be considered).


NK Bank Home Loan: Eligibility

    • Salaried Employees, Businessmen, and Professionals with a regular source of income.
    • Salaried employees should have a minimum of 2 years of confirmed service.

 



NK Bank Home Loan: Interest rates & charges

    • Maximum ₹50 Lakhs per beneficiary per dwelling unit.
    • Margin: Minimum 20% of the total cost (Agreement Cost + Stamp Duty + Registration).


NK Bank Home Loan: Documents Required

PERSONAL LOANS:                                                                                        LIMIT:  15 LAKHS


    • KYC.
    • INCOME PROOF (LAST 3 YEARS IT RETURNS).
    • APPLICATION.
    • ROI: 18 % (TO BE REVISED).
    • TENNURE: MAX 5 YEARS.
    • AGREEMENT FOR SALE.
    • COLLETORAL SECURITY – ALL LINKED DOCUMENTS.
    • 2 GUARANTORS.
    • LEGAL OPINION & VALUATION.
    • MUNICIPALITY APPROVED PLAN.
    • LATEST MUNICIPAL TAX PAID RECIEPT.
    • SHAREHOLDING 2.5% OF LOAN (REFUNDABLE).
    • GUARANTOR 5 SHARES EACH OF RS 100/- (REFUNDABLE).
    • PROCESSING CHARGES 1.25% OF LAON AMOUNT (NON-REFUNDABLE).
    • MISCELLENOUS CHARGES

Additional Features:

  1. Top-Up Loan:
    • Maximum ₹10 lakh.
    • Repayment period up to 17 years or the residual period of the housing loan (whichever is lower).
    • Fixed interest rate of 8.50% p.a.
    • Can be used for debt repayment or repairs/renovations (up to ₹10 lakh).


  2. Loan for Construction of House:
    • Land cost should not exceed 65% of the total project cost.
    • Construction must be completed within 24 months.
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Documents Required:

  1. Duly filled application form.
  2. Latest photograph, photo identity proof, and residence proof.
  3. For salaried applicants: Salary slips for the last 3 months or ITR/Form 16.

Remember, your dream home awaits—apply now and make it a reality! If you have any specific questions or need personalized assistance, visit our nearest branch or apply online. We’re here to help you every step of the way! 😊🏡🌟