#1
19th December 2015, 03:57 PM
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Indian Mortgage Loans
I want to know about the Indian Bank Mortgage Loan so can you please tell me about the eligibility required for this?
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#2
19th December 2015, 04:01 PM
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Re: Indian Mortgage Loans
Here are the following details of the Indian Bank Mortgage loan which you want to know Eligibility Salaried class: Permanent Employees of Central / State Govt./Quasi Government Bodies/Public Limited companies/ Reputed Private Limited companies Have clear record of paying timely salaries. Completed minimum 3 years of service Should have regular minimum monthly income of Rs.15,000/- & take home pay should be more than 40% of gross income after deduction of EMI Self employed / Professionals / Businessmen: Based on their average income earned in the last 3 years Minimum net annual income has to be Rs.1,50,000/- after deduction of proposed EMI. Firms and companies: Based on cash flow Age criteria for individuals: Minimum entry level age: 18 years. Salaried Class individuals: Exit Level age : 60 years (or date of retirement) Other individuals: Exit Level age : 60 years Amount of Loan Maximum: Rs. 200 lakhs. Margin 50% of Realisable sale value of property offered as security Processing fee 1.167% on loan amount. Indian Bank Mortgage loan |
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