It is mandatory to have property insurance on the property being financed in order to mitigate any risky event that may arise due to any contingencies.
Pre EMI is the Interest paid on the Loan Amount availed in part and before the start of the actual EMI. This generally occurs in Self Construction or Construction Stage Linked Disbursals. The EMI doesn’t get started till the loan is disbursed in full and hence interest is charged on partially disbursed loan amount only [...]
Floating rate of Interest.
Simply call on 0120 4180500 Extension 1611 & 1216 Or you can send an enquiry on the enquiry tab on the website www.newhabitat.in. You may also download the Loan Application Form from the website and send the duly filled and signed form through email at firstname.lastname@example.org Or Visit our office at C-1, Sector 3, Noida- [...]
Rebate u/s 80c of the Income tax Act, 1961 for repayment up to Rs. 1,50,000 in a financial year towards principal Deduction for payment of interest is available. However, in case of self-occupied property, deduction is limited to Rs. 2,00,000/-, subject to provisions of Income Tax Act.
An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in significant savings for the customer over the tenure of the loan.
Submit the duly filled and signed application form along with the necessary KYC documents and any other documents as per NHHFDL policies.. Based on the information submitted by the applicants and the personal discussion, the loan amount and tenure is sanctioned by taking into consideration the requirement, repayment capability and the value of the property. [...]
The security for the loan is the equitable mortgage of the property being financed by depositing the title deeds or such other collateral as may be required. The applicant’s title to the property should be clear, marketable and free from any encumbrances. Other security may be required on case to case basis.
Home loans can be repaid ahead of the schedule by making lump sum payments at no additional prepayment charges.
Minimum loan amount for Home Loans is Rs. 1 lac and for Loan Against Property is Rs. 5 Lacs. The Maximum loan amount is subject to the credit appraisal of the applicant.