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Purpose for Home Loan

Purchase of Land
Purchase of House
Home Renovation
Balance Transfer
Construction of a House
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Home Loan in Purnea, Bihar

Home loans can be used for a number of purposes such as building a new home, or renovating your ancestral property, or even building an additional room. Don’t let a lack of capital stop you from achieving your dreams. Now there is no need to panic, Purnea Loan is working to get you a loan from many banks in Bihar according to your requirement. On applying for a home loan through Purnea Loan, you will have to provide minimum documents and the loan will also be approved as soon as possible.

Home Loan Schemes

Bank Name

Interest Rate Range

Loan Amount

EMI Per 1 Lac

Eligibility Criteria

  • Private Limited Companies Employees
  • Public Sector Employees
  • Age: 21 to 60 years

Documents

  • Loan Application Form
  • Passport Size Photographs
  • Government Issued Photo Identity Proof

Fees & Charges

  • Processing Fees: Up to 0.50%
  • Check Dishonour Charges: ₹300**
  • List of Documents:: ₹500

Eligibility Criteria

  • Resident Type: Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 70 years

Documents

  • Employer Identity Card
  • Loan Application
  • 3 Passport size photographs

Fees & Charges

  • Processing Fees: Starts at 0.35% of the loan amount
  • Maximum Tenure: 30 years

Eligibility Criteria

  • You must be at least 21 years of age on sanction of the loan
  • The minimum age of the co-applicant should be 18 years

Documents

  • Application form with photograph duly signed
  • Identity, residence and age proof
  • Last 6 months bank statements

Fees & Charges

  • Loan Processing Charges: 0.50% - 2.00%
  • Prepayment Charges: 2% plus applicable taxes

Eligibility Criteria

  • An employee of a local and stationary business unit such as petrol pumps, restaurants, jewelery shops, garments shops, etc. The business of the employer may be a Proprietorship / Partnership / Private Limited / Limited Company / Trust etc.
  • An individual who is earning a fixed minimum income of INR 15,000 per month. It is valid for joint income also in case of co-applicant.

Documents

  • Age proof
  • Proof of Residence
  • Educational qualification
  • Income proof which includes last 3 months salary slip, form 16 for last 2 years and latest 6 months bank statement

Fees & Charges

  • Low Processing Fee: Where most financial institutions and entities are charging 1-2% of the home loan amount as a processing fee, PNB housing charges 0.5% of home loan.

Eligibility Criteria

  • Resident Type:Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 70 years
  • Loan Tenure: up to 30 years.

Documents

  • Employer Identity Card
  • Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
  • Permission for construction (where applicable)

Fees & Charges

  • Processing Fee: Starts from 0.35% of the loan amount
  • Interest Rate: 6.80% p.a. onwards

Eligibility Criteria for Home Loan

  • Salaried employees
  • Professionals
  • Self-employed persons

Documents for Home Loan

  • PAN Card
  • Driving License
  • Voter ID

Fees & Charges for Home Loan

For all loans amounts:- 0.25 % of loan amount Min. Rs. 1500/- Max. Rs. 20000/-

Eligibility Criteria for Home Loan

  • Resident Indians
  • Non-Resident Indians (NRIs)

Documents for Home Loan

  • Duly Filled and Signed Application
  • Proof of Identity: Driver’s License / Voter ID / Passport / Aadhar Card

Fees & Charges for Home Loan

Unified Processing Charges
  • Processing Charge of 0.25% of the loan amount
  • Ordinary Post – Actual, subject to Min. Rs 15/-
  • Registered / Speed Post/courier – Actual, subject to Min. Rs 75/-

Eligibility Criteria for Home Loan

  • Salaried individuals confirmed in the service with a minimum service of 2 years.
  • Individuals engaged in business / professionals and self-employed persons. Such applicants

Documents

  • Stipulated Loan Application with 2 passport size photos
  • Sale Deed
  • Agreement for Sale

Fees & Charges for Home Loan

Nominal processing fee of 0.50% (Min Rs.1500/- and Max. Rs.10,000/-) is charged

Eligibility Criteria for Home Loan

  • Indian citizens and NRIs
  • Minimum entry age is 18 years
  • Individuals may apply singly or jointly.

Documents

  • Simple/Equitable mortgage (E.M.) of the residential property
  • In case the proposed residential unit is under construction, suitable interim security is required

Fees & Charges for Home Loan

  • Interest Rate: 6.60% p.a. onwards.
  • Current EBLR: 6.80% p.a.
  • Processing Fees: 0.50% of the loan amount

Eligibility Criteria for Home Loan

  • Age Limit: 21-60 years

Documents

  • Duly filled in and signed the application form
  • Identity, address and age proof
  • Salary slip of last 3 months

Fees & Charges for Home Loan

  • Processing Fee: 0.5% of the loan amount
  • Prepayment Charges: Nil
  • Documentation Charges: Nil

Eligibility Criteria for Home Loan

  • Min age of the applicant: 22 years
  • Max age of the applicant (At loan Maturity): 70 yrs or retirement age

Documents

  • Application form with photograph
  • Identity and Residence Proof
  • Latest Salary-slip for last 3 months

Fees & Charges for Home Loan

  • Processing Fees: Rs.2,500 – Rs.5,000
  • Within 6 Months from Final Disbursement: 2% / 3% / As Per Sanction terms
  • After 6 Months from Final Disbursement: NIL

Eligibility Criteria for Home Loan

  • Age Limit: 21-60 years

Documents

  • Income proof
  • Banking details
  • Identity proof like PAN, Aadhaar, Driving license, Passport, Voter ID

Fees & Charges for Home Loan

  • Salaried: 0.5% of loan amount;
  • Self-Employed, HL top-up/Commercial Purchase: 1.0% of loan amount;

Eligibility Criteria for Home Loan

  • Minimum – 21 years
  • Maximum – 75 years

Documents

  • Customer Relationship Form with fresh photograph
  • Photo ID proof
  • Address proof

Fees & Charges for Home Loan

  • Non-refundable Login fees: Rs.3500/- +GST
  • Processing Fees: 0.25% to 1.00% depending on scheme+ GST
  • Administrative Fees: 0.25% to 2.00% depending on scheme +GST

Eligibility Criteria for Home Loan

  • Resident Indians only
  • Aged between 23-70 years
  • Minimum 4 years of business continuity

Documents

  • Valid Passport with expiry date, photograph and signature
  • Voter’s Identity card issued by election commission of India

Fees & Charges for Home Loan

  • Processing Fees: Up to 3% of loan amount
  • EMI bounce charges: ₹400
  • Repayment instrument swap charges: ₹500

EMI Calculator

₹ 

500000

36

 months

10

 %

Monthly EMI

₹ 

₹ 32,124.56

Total Interest

₹ 

10,622.78

Principal Amount

₹ 

500000

Payable Amount

₹ 

160,622.78

Created with Highcharts 4.1.3 EMI Calculator Loan : 93.4 % Interest : 6.6 %
Pay
No.		 Begining Balance EMI Principal Interest Ending Balance
1 150000.00 32124.56 28637.06 3487.50 121362.94
2 121362.94 32124.56 29302.87 2821.69 92060.07
3 92060.07 32124.56 29984.16 2140.40 62075.91
4 62075.91 32124.56 30681.30 1443.26 31394.61
5 31394.61 32124.56 31394.64 729.92 -0.03

Home Loan Important Information

    Documents Required for Home Loan in Purnea, Bihar

    Application Form with 3 Recent photographs.

    Identity proof: Voter ID Card, Aadhar Card, PAN Card, Passport, Driving License

    Address proof: Voter ID Card, Aadhar Card, Driving License, Ration Card, Passport, Telephone/Electricity Bill, Rental Agreement.

    Fees & Charges for Home Loan in Purnea, Bihar

    • Processing fees
    • Prepayment charges
    • Conversion fees
    • Cheque dishonour charges
    • Fees on account of external opinion charges
    • Home insurance charges
    • Default charges
    • Incidental charges
    • Statutory/regulatory charges
    • Photocopy of documents charges
    • Change in loan term charges

    Pre-Payment and Part Payment in Home Loan

    Pre-Payment and Part Payment of a home loan lower the principal outstanding amount significantly. The reduced principal amount also results in lower interest liabilities and EMI reduction subsequently. A part-payment limits liabilities when opted for at just the right time. Another ideal way of reducing the principal amount of the home loan is by paying more than the calculated EMI. The borrower can make a slightly higher payment than their EMI every month. This way there is a reduction in the borrower’s debt burden.

    Modes of Home Loan Payment or Repayment

    There are a number of repayment modes which are offered by lenders. Although these modes might differ from lender to lender, the most common modes of repayment can be summed up as follows:

    • Electronic Clearance System or ECS: The ECS or Electronic Clearance System is one of the most commonly used repayment methods. It is an electronic mode through which funds are transferred from one bank to another.
    • Post Dated Cheques or PDCs:Post Dated Cheques, as the name suggests, are cheques which are issued by you for a future date. The lender will use these cheques on the mentioned date to deposit or encash the amount mentioned on it.
    • National Automated Clearing House:The National Payment Corporation of India (NPCI) offers a program called NACH to all the banks and financial institutions. The NACH allows the processing of transactions in real time. This method can be used for your loan repayments.
    • Debit mandate or standing instruction:You can give an instruction to your bank to pay off a particular amount of money to another bank or bank account at a regular interval. This is known as standing instruction or debit mandate. Your bank will be paying off the stipulated amount towards the repayment of your loan on a regular basis through this system.

    Types of Home Loans in Purnea, Bihar

    • Loans for Purchase of Land:Several banks offer loans for land purchases. Purchasing land may be a flexible option, the customer can save funds and construct a house whenever his finances allow or simply have the land as an investment. Up to 85% of the value of the land is given as a loan by lenders.
    • Home Construction Loan: If you already own land and would really like to create your dream home on an equivalent, you'll consider a home construction loan. Unlike a basic Home Loan where the lender makes a payment of the loan amount, a home construction loan is usually disbursed in installments supported by the progress of the development project. the quantity approved for a home construction loan is usually supported by the approximate construction cost.
    • Home Extension Loan: You may want to feature a replacement room or a replacement floor to expand your existing home as your family grows or just to enlarge your home. For this purpose, you'll avail of a home extension loan from banks of your choice.
    • Commercial Purchase: Commercial purchase loans are popularly taken by businessmen and entrepreneurs. They take such loans to shop for commercial properties, sort of a shop, office space, and commercial complex. This loan is apt for such purchases. The interest rates offered by banks are competitive. Funds from this loan need to be wont to buy the property only.
    • Home Loan Balance Transfer: Sometimes the present home loan interest rates are often taxing for you. it's also possible that you simply might not be proud of the services offered by the present banks. In such cases, you've got a choice to transfer the house loan to a different lender who offers lower home equity credit interest rates and better services.
    • Home Loan Top UpHome loan Top-up can be used for anything from buying furniture to construction, extending, or renovating your residential property. it's available for existing home loan borrowers without the need for any security or guarantee. Interest rates are lower and you'll also claim tax benefits on your home equity credit top-up. Lowest interest rates on the top-up home loans. The repayment tenures are often equivalent to that of the house loan. the utmost amount can depend upon the outstanding balance of the house loan or a selected amount set by the bank. Processing fees are often up to a quarter of the loan amount.
    • Home Loan Balance TransferSometimes the present home loan interest rates are often taxing for you. it's also possible that you simply might not be proud of the services offered by the present banks. In such cases, you've got a choice to transfer the house loan to a different lender who offers lower home equity credit interest rates and better services.

    Types of Home Loans in Purnea, Bihar

    Home loan Top-up can be used for anything from buying furniture to construction, extending, or renovating your residential property. it's available for existing home loan borrowers without the need for any security or guarantee. Interest rates are lower and you'll also claim tax benefits on your home equity credit top-up. Lowest interest rates on the top-up home loans. The repayment tenures are often equivalent to that of the house loan. the utmost amount can depend upon the outstanding balance of the house loan or a selected amount set by the bank. Processing fees are often up to a quarter of the loan amount.

    Home Loan Balance Transfer in Purnea, Bihar

    Sometimes the present home loan interest rates are often taxing for you. it's also possible that you simply might not be proud of the services offered by the present banks. In such cases, you've got a choice to transfer the house loan to a different lender who offers lower home equity credit interest rates and better services.

Our Home Loan Experts can help you meet your financial requirement.

Experienced Loan Advisor

Multi Bank Option

Free Door step Service

End to End services

Transparency & Safety

Referral Program

FAQ for Home Loan

    What is a Home Loan?

    Home loan is a loan disbursed by a bank or financial institution (lender) to an individual specifically for buying a residential property. Here, the lender holds the title of property until the loan is paid back in full along with interest.

    How much loan am I eligible for?

    Your Home Loan eligibility depends on various factors like age, income, debt repayment history etc. The eligibility criteria differ from bank to bank. But, before you decide on the loan amount, it’s smart to evaluate your current financial situation and determine how much money you can comfortably shell out each month.

    What is PRE-EMI interest for Home Loan?

    When you avail of a part of your home loan, you will be charged simple interest on the amount that has been paid out till your entire sanctioned home loan amount is disbursed. This payment of simple interest on part payment is called PRE- EMI Interest.

    How is my Home Loan eligibility calculated?

    Loan eligibility is dependent on primarily the following factors:

    Cumulative net monthly salary of the applicant and co-applicant.

    Quantum of loans and credit card outstanding that you already have. Typically a bank will not give a loan if the total EMI obligation (including the current home loan that your are trying to apply for) exceeds 50-60% of your total net take home salary.

    Loan to asset Value (LTV) ratio of 75% which means that the customer has to fund the remaining 25% through his savings or any other source.

    How do I repay a Home Loan?

    For your convenience, Every Home Loan offers various modes for repayment of the home loan. You may issue standing instructions to your banker to pay the installments through ECS (Electronic Clearing System), opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.

General Information for Home Loan

There are various factors to consider while taking a Home Loan in order to assure the borrower gets the best possible deal. Factors such as:

Loan Amount: 1 Lac to 1 Cr | Rate of Interest (APR)*: 6.75% to 14% | Repayment Tenure: 1 Year to 30 Years | Processing Fees: 0.75% to 2.50% + GST as applicable | Prepayment/ Foreclosure: Nil (After 12 months) or 1% - 4% (Before 12 months)

Illustration: For e.g. If a person is 30 years old and has a gross monthly salary ofRs.30,000, he can avail a loan of Rs. 20.49 lakh at an interest rate of 6.90% for a tenure of 30 years provided he has no other existing financial obligations such as a personal loan or car loan etc.

* APR - Annual Percentage Rate