|
|
|
Loan available for purchase of residential properties either under construction or ready possession. |
|
| |
|
We at LOANEZEE understand the customer’s requirement first and then suggest a product best suitable to meet their requirement. |
|
| |
|
There are different variants related to home loan most important among them can be classified as:
|
|
|
|
| • |
Property related |
|
|
| • |
Customer related |
|
|
| • |
Product related |
|
|
| |
|
Property related: Usually 3 type of properties are identified by the customer |
|
|
|
| • |
Under construction properties |
|
|
| • |
Ready properties from builder |
|
|
| • |
Resale properties |
|
|
|
|
| Property related document defer as per the properties identified |
|
| |
|
Customer related: Loans are sanctioned as per |
|
|
|
| • |
Income paper of the customer |
|
|
| • |
Turnover of the customer |
|
|
| • |
The repayment of other loan takeover |
|
|
| • |
Customers own contribution |
|
|
|
|
| |
|
Product related: Various product options are available with various bank having their individual USP. Major products can be listed down as follows |
|
|
|
| a) |
Vanilla product: |
|
|
| • |
it is a simple term loan product whereby a customer has to pay monthly EMI |
|
|
| |
|
| b) |
Overdraft product: |
|
|
| • |
It is the most interest efficient product if the customer has good fund flow in his account |
|
|
| • |
It operates on net balance basis for eg. if your loan amount is 1 lac and you have ten thousand in your account for that particular period may be a day, week or month, interest will be charged on (1 lac – ten thousand) i.e. ninety thousand hence saving interest on ten thousand for that particular period |
|
|
| |
|
| c) |
Takeover: |
|
|
| • |
If a customer had already availed of a housing loan from any other Bank/Financial Institution and if the High Interest cost is affecting their cash flows, a customer may opt for the Loan Balance Transfer facility to another bank at the cheaper rate over the existing rate |
|
|
| |
|
| d) |
Takeover with additional finance: |
|
|
| • |
If customer have already availed of a housing loan from any other Bank/Financial Institution and want the additional funding than if the same bank/ financial institution are unable to meet their requirement, same can be transferred to other bank/ financial institution |
|
|
| |
|
| e) |
Refinance: |
|
|
| • |
Refinancing your home is becoming popular now-a-days. Under this programme the Borrower can get the amount refinanced/reimbursed from the lending institution, provided he/she takes the loan disbursal within six months of the property purchase |
|
|
| |
|
|
|
