V Elite Home Loan



V-ELITE HOME LOAN SCHEME

Features         

TAILOR MADE HOME LOAN SCHEME FOR THE HIGH INCOME SALARIED CLASS YOUTH.

V-Elite Home loan provides 25% higher loan amount than that of normal Home loan eligibility to young generation -IT professionals,Executives,Employees of PSU/Govt/Private Sector Under takings/MNCs.

Eligibility:
  • Age between 21-40 years

  • Minimum monthly net take home salary of the applicant alone or jointly with co-applicant should not be less than Rs.40000/-after taking into consideration of all the existing deductions as well as the EMI of the proposed housing loan

Loan amount

Minimum Rs.25 lakhs

Maximum :Need based

Repayment
  • Maximum 30 years including moratorium period.

  • Interest should be serviced during moratorium period

  • After deciding the repayment period,the same will be bifurcated into 3 slabs for the purpose of fixing the step-up installments, as below:

    Slab 1:Upto 5 years -EMI is fixedbased on present repayment capacity for normal loan entitlement (without adding 25% over and above normal eligibilty)for entire loan tenor(excluding moratorium period if any)

    Slab 2:Next five years -Normal EMI for the full loan amount(125%)for total loan tenor(excluing moratorium period if any)

    Slab 3:For the balance repayment period - EMI will be for balance repayment period on the balance outstanding at end of 10th year.

Margin

Up to Rs.75 lakhs – 20%

Above Rs.75 lakhs – 25%

Rate of Interest

Click Here for Rate of Interest



show