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 AXIS/UTI Bank Home Loans
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AXIS Bank Home Loan has recently seen slashing down in interest rates on its floating rate housing loans by 25 basis points with effect from November 25, 2007. UTI Bank is now working under the name of Axis Bank.
UTI bank offers a home loan for:- Purchasing a plot and constructing a house on it
- Constructing a house on an already owned plot
- Purchasing a house/flat but that shouldn't be more than 15 years old
- For renovating/extending an old house/flat
- Take-over of existing housing loan
- Home Loan to NRI on the purchase of ready residential property
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Loan can be taken against a property but that property should be within a radius of 50 km from any UTI Bank branch. At the time of taking a loan the age of the applicant should not be less than 24 years and at the end of the tenure he should be less than 65 years. Applicant availing a Home Loan can be Salaried Individual, Professional or Self-employed individual.
Salary requirement:- A salaried person working in a government or private firm and already has an account with UTI/Axis can take loan if his salary is Rs. 7500 per month.
- In case an applicant is not a holder of an account with UTI bank needs to have salary Rs. 8000 per month.
- If the spouse is also working then the clubbing facility is provided by AXIS/UTI Bank in which the salary of both is taken together to give home loan and that salary should be Rs. 12,000 per month.
- The professionals like doctors, engineers, CAs, management Consultants etc., should have minimum net annual income of Rs. 1.50 lakhs. If clubbed with spouse's income it should be more than Rs.12, 000 per month.
- For self-employed person the home loan is granted by UTI Bank if net annual income is Rs. 1.50 lakhs
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The minimum amount that you can take as home loan is Rs. 1 Lakh and the maximum can be Rs. 50 lakhs depending on the need. The interest rate will vary with the tenure of the Home Loans. Documents required taking home loan from UTI/Axis Bank:- Identity proof (Indian Passport/voter card/driving license and a photograph)
- Salaried employee need to give income proof (the latest salary slip with all deductions/form 16 with recent salary certificate)
- For self-employed income tax return of the last 2 years and income computation certificate by a CA.
- Residence Proof (Ration card, latest electricity bill, telephone bill, credit card bill)
- Guarantor form
The whole information on Home Loans By UTI/Axis Bank is available online in their website. There is a facility to calculate your emi online in the website with the help of emi calculator.
Website:http://www.axisbank.com/ |
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