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1
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Purpose
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- Purchase of a ready built house/ Flat/Flat under construction.
- Construction of house/ Flat.
- Undertaking extension, repairs, renovation, up gradation, creation of additional amenities, subject to the satisfaction of the Company.
- For Taking over the HL liability from other recognized Financial Institutions/ Banks subject to the satisfaction of the Company.
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2
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Eligibility
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- Individuals who are salaried / professionals/SE & NP /NRI /pensioner who have adequate repayment capacity supported by Proof viz, Salary slips/Form 16 and Income Tax Returns.
- The applicant should have regular source of income sufficient to service loans as per assessment of Can Fin Homes Ltd.
- Property proposed for mortgage to stand in the name of applicant/s.
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3
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Margin
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- Up to Rs.20 lac - 15%.
- Above Rs.20 lac up to Rs. 75 lacs - 20%.
- Above Rs.75 lacs-25%.
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4
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Security
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- Mortgage of the property being financed.
- Collateral: on case-to-case basis.
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5
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Rate of interest
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Prevailing card rate. |
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6
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Repayment
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Maximum up to 30 yrs. |
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7
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Other conditions
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- Rate of interest is Fixed for an initial period of 3 years.
- Post the fixed rate period, ROI would automatically get converted into floating rate prevailing at that time for the residual loan amount.
- Conversion charges for switch over from Fixed to Floating during the fixed tenure period:
A/c in Pre-Emi stage:
- 0.50% of the Loan outstanding including undisbursed amount plus applicable GST.
A/c in EMI stage:
- 0.50% of the Loan outstanding plus applicable GST.
Conversion charges for switch over from Floating to Fixed:
- Existing customers can convert their loans under VLS to the fixed loan scheme on payment of conversion charges of 0.50% of the outstanding liability.
- All other conditions as applicable to Individual Housing loan.
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8
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Other Benefits
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Borrowers with good track record are eligible for Top-up and Personal loan. |