Our plot loan facility can be used for buying a piece of land, on which you can construct your dream home.

Land isn’t just a mix of soil and nature, it marks a definite sense of ownership and pride. Owning a piece of land is a matter of great joy and achievement. What a piece of land gives you is a large sense of security, happiness and peace of mind. In a country like India, owning land is something many of us look forward to. Plot loans are designed keeping this faith in mind.

One of the core strengths of owning a piece of land is the fact that it can be used to construct your dream home on it. Land Loans in India are therefore an accepted, widely used facility, not just for building dream homes but also for commercial business plants/factories and more as long as the plot to be purchased is non-agricultural in nature.

Features

The maximum term of your plot loan can be up to 20 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier).

*60 years for salaried individuals and 70 years for self-employed individuals.

You can get a plot loan up to 75% of the value of the plot.

Your plot loan amount depends on your annual income and ability to repay the loan. You can increase your plot loan amount by adding an earning co-applicant.

Your home loan interest rate starts from 10.25%* p.a. Know more call to us about fees and charges (*T&C Apply)

You can pay your home loan EMIs through:

  • Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
  • Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)

Documents

ID & Address Proof (Any One Required)

  • PAN card (Mandatory, if income is considered for loan eligibility calculation)
  • Valid Passport
  • Voter ID card
  • Driving license
  • Aadhar Card

Residence Proof (Any One Required)

  • Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
  • Ration card
  • Letter from employer
  • Bank statement /copy of Pass book reflecting address
  • Valid Rent Agreement
  • Sale Deed

*National Housing Bank (NHB) had introduced Know Your Customer (KYC) guidelines for housing finance companies. We request you to co-operate with us in complying with these guidelines.

Salaried Individuals

  • Salary slips for the last 2 months or salary certificate*
  • Cash Salary – Income details on Company Letterhead
  • Copy of bank statements for the past 3 months (salary account)

*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.

Self-Employed Professional

  • Certificate of qualification for professionals : CA, Doctors or Architects
  • Copy of last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable.
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account and O/D account)

Self-Employed Non Professionals

  • Copy of your last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account or an O/D account)
  • Allotment letter from builder
  • Agreement of Sale
  • Registration and stamp duty receipt
  • Index- ii
  • NOC from builder
  • Own Contribution Receipt (OCR )
  • All builder linked documents (Applicable for cases which are not approved or previously not funded by ABL)
  • Development Agreement
  • Tripartite Agreement
  • Partnership Deed
  • Sale Deed
  • Title Search Report
  • NA order

Note: Original documents are required for verification purpose only

Enquiry Now