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| Welcome to ING VYSYA Bank Home Loans |
Features and Benefits
Is it an apartment you are looking for or a penthouse? Your search for a Ideal Home ends at ING Vysya Bank , you can avail ING Vysya Home Loans for constructing a home, purchasing a ready built house/flat, residential site or even for refinancing existing loans. We offer you a bundle of benefits on Home loans to ensure that you realise your long cherished dream of owning a Home.
• Attractive Interest Rates.
• Funding upto 85% of the cost of Property.
• Floating Rate loans linked to HPLR i.e. Home Loan Prime Lending Rate.
• EMI on a daily reducing balance method.
• Flexible Repayment Options, Maximum Loan Tenor upto 20 years.
• Nil penalty on partial pre-payments.
Alloted by Government.
Approved by Government (initially developed and sold by Registered House Building Cooperative Society or Private Developer of repute). Government Bodies include Urban Development Authority / Corporation / DTPA (District Town Planning Authority)
Eligibility:
Resident Indian citizens can apply in their individual capacity or jointly: -
• Salaried employees aged 23 and above on application; and aged 58 or retirement age, whichever is sooner, at loan maturity.
• Self-employed professionals and businessmen above 25 years of age; and aged below 65 years, at loan maturity.
Min.Gross Annual Income:
• Salaried Employees Rs.1,20,000/=
• Self-employed Professionals Rs. 1,00,000/=
• Self-employed Businessmen Rs 1,50,000/=
Your Loan eligibility depends on various factors like Income, age, stability and your personal assets and liabilities, etc .You can avail a Home Loan starting from Rs. 5 lakhs upto Rs. 3 crores in all metros , Bangalore and Pune. Customers located in all other cities can avail upto Rs. 1 crore.
Fees:
| Processing Fee |
0.5 % of the loan amount applied for and will be collected at the time of application |
| Prepayment Charge |
Nil if the prepayment is done after the completion of 6 months term
1. Prepayments are allowed any number of times during the year.
2. Each prepayment amount should not be less than 3 times of the EMI amount
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| Foreclosure Charge |
2% of (the Outstanding Principal + Unscheduled principal prepayments during the previous 12 months). |
Rate of Interest:
Home Loans rate of interest is linked to ING Vysya Bank HPLR - Home Loan Prime Lending Rate. The HPLR is effective from 1st October 2006 and is subject to variation from time to time at the sole discretion of the bank. HPLR would be reviewed on a semi annual basis i.e on September 25th and March 25th or earlier if necessary, depending upon the market. |
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