The document is a comparative study of home loan products offered by Bank of Baroda and its competitors. It outlines the objectives of studying loan sanctioning processes, EMI and tenure details, non-performing assets, tax benefits, and methodology. Key observations about eligibility, documents required, interest rates, processing fees, maximum loan amounts, and EMI calculation limits are provided for Bank of Baroda and peers like SBI, PNB, and private banks.
State Bank of India business loans is Introduced while keeping in mind the self-employed proprietorship/partnership firms and trading/manufacturing units. Under a business loan, an entrepreneur can borrow the loan amount to use it for business growth and expansions or to fund a start-up venture.
More info:-https://www.afinoz.com/sbi-business-loan
A powerful presentation on non performing assets which very much influencial when presented before others. Being a law student, I myself created the presentation and presented before the elite authorities which impressed them to a larger extent.
Things to consider before apply for nri personal loan in india convertedWise NRI
Are you NRIs Looking for NRI Personal Loan. Here is the guide for NRIs Please Check Before Apply For NRI Personal loan in India. Check your Loan Eligibility Interest rates
State Bank of India business loans is Introduced while keeping in mind the self-employed proprietorship/partnership firms and trading/manufacturing units. Under a business loan, an entrepreneur can borrow the loan amount to use it for business growth and expansions or to fund a start-up venture.
More info:-https://www.afinoz.com/sbi-business-loan
A powerful presentation on non performing assets which very much influencial when presented before others. Being a law student, I myself created the presentation and presented before the elite authorities which impressed them to a larger extent.
Things to consider before apply for nri personal loan in india convertedWise NRI
Are you NRIs Looking for NRI Personal Loan. Here is the guide for NRIs Please Check Before Apply For NRI Personal loan in India. Check your Loan Eligibility Interest rates
LAP LOAN
Loan against Property (LAP)
refers to a secured loan category somewhat like a home loan where the borrower provides guarantee by using his property as security. The right of ownership of the property is still with the borrower, and if for some reason, the borrower is unable to repay the loan amount, the property can always be sold off to pay off the debt.
The maximum loan amount varies from bank to bank and could range from Rs.2 lakhs up to Rs.100 lakhs. The loan amount depends on the property valuation, your income and of-course your repayment capacity.
The maximum loan amount can come upto 80% to 100% of property value for commercial setups and up to 80% for residential properties (This is really variable as it completely depends on the valuation of your property).
The maximum loan tenure in Loan Against Property cases is 15 years.
Be ready to provide security, collateral or guarantors in order to obtain a Loan Against Property, not to mention a long verification process.
Tips to Increase Your Eligibility For a Home Loanmusunuruakhil
Home loan seekers aiming to derive maximum benefits from a home loan usually look for the maximum loan amount to minimize the marginal amount that they have to invest.
Kotak Mahindra Bank personal loan eligibility criteria & Apply now at afinozApoorv Chaudhary
Any Indian residents who have employment with an MNC, public or private limited company with a decent income can apply for a personal loan from Rs. 50,000 up to Rs. 15 lakh from Kotak Mahindra Bank. An applicant needs to fulfill the basic loan eligibility criteria to avail of an instant personal loan from Kotak Mahindra Bank. Kotak Mahindra Bank personal loan eligibility criteria depend on individuals credit score, income, age and loan amount.
LAP LOAN
Loan against Property (LAP)
refers to a secured loan category somewhat like a home loan where the borrower provides guarantee by using his property as security. The right of ownership of the property is still with the borrower, and if for some reason, the borrower is unable to repay the loan amount, the property can always be sold off to pay off the debt.
The maximum loan amount varies from bank to bank and could range from Rs.2 lakhs up to Rs.100 lakhs. The loan amount depends on the property valuation, your income and of-course your repayment capacity.
The maximum loan amount can come upto 80% to 100% of property value for commercial setups and up to 80% for residential properties (This is really variable as it completely depends on the valuation of your property).
The maximum loan tenure in Loan Against Property cases is 15 years.
Be ready to provide security, collateral or guarantors in order to obtain a Loan Against Property, not to mention a long verification process.
Tips to Increase Your Eligibility For a Home Loanmusunuruakhil
Home loan seekers aiming to derive maximum benefits from a home loan usually look for the maximum loan amount to minimize the marginal amount that they have to invest.
Kotak Mahindra Bank personal loan eligibility criteria & Apply now at afinozApoorv Chaudhary
Any Indian residents who have employment with an MNC, public or private limited company with a decent income can apply for a personal loan from Rs. 50,000 up to Rs. 15 lakh from Kotak Mahindra Bank. An applicant needs to fulfill the basic loan eligibility criteria to avail of an instant personal loan from Kotak Mahindra Bank. Kotak Mahindra Bank personal loan eligibility criteria depend on individuals credit score, income, age and loan amount.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Up the Ratios Bylaws - a Comprehensive Process of Our Organizationuptheratios
Up the Ratios is a non-profit organization dedicated to bridging the gap in STEM education for underprivileged students by providing free, high-quality learning opportunities in robotics and other STEM fields. Our mission is to empower the next generation of innovators, thinkers, and problem-solvers by offering a range of educational programs that foster curiosity, creativity, and critical thinking.
At Up the Ratios, we believe that every student, regardless of their socio-economic background, should have access to the tools and knowledge needed to succeed in today's technology-driven world. To achieve this, we host a variety of free classes, workshops, summer camps, and live lectures tailored to students from underserved communities. Our programs are designed to be engaging and hands-on, allowing students to explore the exciting world of robotics and STEM through practical, real-world applications.
Our free classes cover fundamental concepts in robotics, coding, and engineering, providing students with a strong foundation in these critical areas. Through our interactive workshops, students can dive deeper into specific topics, working on projects that challenge them to apply what they've learned and think creatively. Our summer camps offer an immersive experience where students can collaborate on larger projects, develop their teamwork skills, and gain confidence in their abilities.
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Our live lectures feature guest speakers from various STEM disciplines, including engineers, scientists, and industry professionals who share their knowledge and experiences with our students. These lectures provide valuable insights into potential career paths and inspire students to pursue their passions in STEM.
Up the Ratios relies on the generosity of donors and volunteers to continue our work. Contributions of time, expertise, and financial support are crucial to sustaining our programs and expanding our reach. Whether you're an individual passionate about education, a professional in the STEM field, or a company looking to give back to the community, there are many ways to get involved and make a difference.
We are proud of the positive impact we've had on the lives of countless students, many of whom have gone on to pursue higher education and careers in STEM. By providing these young minds with the tools and opportunities they need to succeed, we are not only changing their futures but also contributing to the advancement of technology and innovation on a broader scale.
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Many ways to support street children.pptxSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
1. B A N K O F B A R O D A
Comparative Study of Bank’s Retail
Loan Product(Home Loan) vis-a-vis
Competition / Peer Banks
Submitted to :
Prof. SUBRAT SARANGI
Presented to :
Prof. SUBRAT SARANGI
Prof. JITENDRA MOHANTY
Presented by : DEVO PAM NAG
Roll No. : 15202208
Internship in Marketing
Under the guidance
of
Mr. Nanda Dulal Jana
(Chief Manager, SMS-Kolkata)
2. Contents
Introduction
Objectives
Loan Sanctioning Process
EMI and Loan Tenure
Non-Performing Assets
Tax Benefits
Methodology
Observations
Bank of Baroda
State Bank of India
Bank of India
Punjab National Bank
Union Bank of India
HDFC Bank
ICICI Bank
Axis Bank
Yes Bank
IndiaBulls Home Loans
L&T Finance
Reliance Home Finance
Tata Capital Home Loans
Analyzation
Conclusion
3. INTRODUCTION
A home loan is a type of loan in which the borrower uses the value of his or her home as
collateral.
The loan amount is determined by the value of the property, and the value of the property is
determined by an appraiser from the lending institution.
Home equity loans are often used to finance major expenses such as home repairs, medical bills,
or college education.
A home equity loan creates a lien against the borrower's house and reduces actual home equity.
4. OBJECTIVES
The main objective of this project is to study different types of Home Loans offered by Bank of
Baroda and also identify the competitive advantage of Bank of Baroda over it's competitors and
peer banks in retail loan segment in India. This study also covers the recent transformations taken
place in retail loan segment in recent past in both public sector and private sector financial
institutions in India.
To know about EMI, Loan Tenure, Recovery processes, NPA.
I will also be studying about the procedure involved in the approval or rejection of the loans in
Bank of Baroda. Following are the other objectives that are also involved in the successful
completion of the project assigned :
To know the scenario of Home Loans in India.
To know various parameters that play major role in the approval or rejection of Loan applications.
To know the differences in the rate of interest and other fees charged by Bank of Baroda and other
financial institutions in Home Loan segment.
To know the Tax Benefits that are allowed by the Government of India to the applicants in Home
Loan Category.
To know the advantages and drawbacks in the Loan products provided by Bank of Baroda over
other financial institutions in India.
6. EMI and Loan Tenure
EMI is a series of monthly payments that you make to the lender towards fulfilment of your loan
obligations.
This amount stays fairly constant over the tenure of the loan unless there is a major change in the
interest rates or you have prepaid a part of the loan principal.
EMI is combination of principal repayment of the loan and the interest on the same. In the earlier
years interest forms the major components of the EMI.
Loan Tenure is the time period within which the principal amount along with the interest amount
should be paid.
Starting EMIs Later EMIS
7. Non-Performing Assets (NPA)
A Non-Performing Asset is defined as a credit facility in respect of which the interest and /or
instalment of principal has remained past due for a specific period of time.
When the borrower has failed to make interest or principal payments for 90 days then the loan is
considered to be a Non-Performing Asset.
When an account is declared as NPA then it is checked whether the borrower is wilful defaulter or
non-wilful defaulter (i.e. due to loss of job by the downsizing of the organization, organization
closure etc).
o For non-wilful defaulters : The account is restructured, rescheduled etc. so that the borrower could upgrade
the account and standardize it to the rules and regulation of the bank.
o For wilful defaulters : In this case the borrower is called for settlement after regular reminders in those 90
days. The settlement is done either in Debt Recovery Tribunal (DRT) or Lok Adalat. If the borrower even
fails to settle the debt in DRT and Lok Adalat then the property is taken in possession by the bank. For debts
upto Rs. 20 lakhs the settlements are done in DRT and above Rs. 10 lakhs the settlements are done in Lok
Adalat.
8. Tax Benefits
Section 24 (Income under Head House Property) : This section allows a fully fledged deduction for
interest paid on Housing Loan up-to Rs. 2,00,000 (earlier it was Rs. 1,50,000).
In case it is not self occupied or it is let out, then the deduction would be equal to the actual amount of
interest paid (i.e. there is no maximum limit prescribed).
Property should be self occupied.
Section 80EE (Interest Deduction for first time buyers) : This deduction is in addition of all earlier
deductions on interest on Home Loan. That is this deduction is only on the interest component of the
EMI.
Eligible Assessee : First time buyer of house
Value of property : Less than Rs. 50,00,000
Value of Loan : Less than Rs. 35,00,000
Section 80(C) (Tax benefit on Home Loan) : In case the assessee transfers the house property on
which he has claimed tax deduction under Section 80(C) before the expiry of 5 years from the end of the
FY in which the possession has been obtained by him, then no deduction and tax benefit on Home Loan
shall be allowed under Section 80(C). The aggregate amount of tax deduction already claimed in respect
of previous years shall be deemed to be the income of the assessee of such year in which the property has
been sold and the assessee shall be liable to pay tax on such income. Payment made for Stamp Duty and
Registration Fee is allowed as tax deduction under Section 80(C) even if the assessee has not taken loan.
Maximum deduction : Rs. 1,50,000 p.a.
Lock in Period : 5 years
9. Methodology
For the completion of this project work I had to visit the centralized Loan factory of each of the Bank of Baroda’s
competitors in Home Loan business with a questionnaire to know the details about their home loan products and
analyze Bank of Baroda’s competition.
Bank of Baroda's main competitors in Housing Loan business are as follow :
Public Sector banks :
State Bank of India
Union Bank of India
Punjab National Bank
Bank of India
Private Sector banks :
HDFC Bank
ICICI Bank
Axis Bank
Yes Bank
Financial Institutions :
Indiabulls Home Loans
L&T Finance
Reliance Home Finance
Tata Capital Home Loans
10. Observations
All the banks and financial institutions have similar Home Loan following their own guidelines and the guidelines provided by RBI.
Following are the details required for the study and analyzation collected from the banks :
Documents needed:
o Signed application form with photograph;
o Identity and address proof;
o Processing fee cheque;
o Last 6 months bank statements;
o Documentation for Salaried applicants :
o Last 3 months salary slips;
o Form 16 or Income Tax Returns.
o Documentation for Self-employed applicants :
o Education qualification certificate & proof of business existence;
o Last 2 years CA certified/Audited Balance Sheet and Profit & Loss Account;
o Last 2 years Income Tax Returns with computation of Income.
Various modes of repayment :
Standing instructions to the bank’s Savings Account to deduct the EMI amount in favour of the loan account.
Net Banking - As available with the bank’s Savings Account
Electronic Clearing Service (ECS) facility.
Post Dated Cheques (PDCs).
The documents needed while applying for a Home Loan are same for all banks
The observations are continued in the next slides
11. Bank of Baroda
Age Eligibility : 21 years to 70 years
Who can apply : Individuals(singly/jointly), NRI with regular income (salaried/self-employed/business)
Rate of Interest : 9.65% for 760 CIBIL score, and increases with bad CIBIL score.
Processing Fee : 0.25%of loan amount.
Tenure : max 30 years
EMI calculation/limitation :
For salaried : up-to Rs. 20000 GMI – 50%, 20000-50000 GMI – 60%, 50001-2Lakhs GMI – 65%, 2Lakhs-5Lakhs GMI – 70%, 5Lakhs and
above GMI – 75%
For businessmen/self employed : Up-to Rs. 6 Lakhs GAI – 70%, Above Rs. 6 Lakhs GAI – 80%
Loan Amount :
Mumbai - Maximum of Rs. 10 crores
Other Metros : Maximum of Rs. 5 crores
Urban cities : Maximum of Rs. 3 crores
Semi Urban/ Rural : Maximum of Rs. 1 crore
Pre-closure charges : No charges
Partial/Pre-payment Charges : No charges
Moratorium Period : Up-to 36 Months
Average time of approval of loan : 5 working days
Margin : Up-to Rs. 30 Lakhs – 1:9, Rs. 30 Lakhs to up-to Rs. 75 Lakhs – 2:8, Above Rs. 75 Lakhs – 2.5: 7.5
Loan amount calculation on the basis of income :
For salaried : up-to Rs. 50000 GMI – 48 times, Rs. 50000 – Rs. 1 Lakh GMI – 54 times, above Rs. Lakh GMI – 60 times.
For businessmen : less than Rs. 2 Lakhs GAI – 4 times, Rs. 2 Lakhs and above GAI – 6 times
12. State Bank of India
State Bank of India has different Home Loan products for different category of applicants fulfilling their needs. The
different Home Loan products of SBI are as follows :
SBI Maxgain Home Loan : 0.25% higher ROI and minimum loan amount of Rs.5 Lakhs
SBI Yuva Home Loan : 0.20% higher ROI and the applicant’s age should be between 21 & 45 years and Rs. 30000 minimum monthly
income.
SBI NRI Home Loan : This scheme is only for NRI applicants with a minimum of Rs. 3 Lakhs loan amount 10.15% ROI.
SBI Realty : This sheme is only for buying land or plot and the loan tenure is maximum of 15 years.
SBI Pal : This is a pre-approved Home Loan scheme where the loan is approved before selecting the property and minimum loan amount to
be sanctioned is Rs. 10 Lakhs and 10.15% ROI.
SBI Her Ghar Home Loan : Here, a woman should be the sole and primary applicant of the loan and the ROI is 9.85%.
SBI Tribal Plus : In this scheme the maximum loan amount should not cross Rs. 10 Lakhs and a tenure of maximum of 15 years which can
only be applied the people living in tribal and hilly areas.
SBI Gram Niwas : This sheme can only be applied by the peoples from villages and a maximum loan amount of Rs. 5 Lakhs and a tenure
of 15 years.
SBI Sahyog Niwas : This scheme can only by applied the people of self-help groups who have a good credit history. The maximum loan
amount here is Rs. 50000 per person.
13. State Bank of India
Age Eligibility : 18 years – 60 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
For General applicants : 9.40%;
For Women : 9.35%.
Processing Fee : 0.35% of sanctioned Loan Amount or maximum of Rs. 11500 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : 36 months to 60 months.
Average time of approval of loan : 7 – 10 working days.
Margin : down-payment 20%, loan amount – 80%.
Loan amount calculation on the basis of income : EMI * tenure (months) = Loan Amount + interest.
14. Bank Of India
Age Eligibility : 21 years – 60 years.
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest : 9.70% - for loan up-to Rs. 75 Lakhs and 9.90% for loans of Rs. 75 Lakhs and above.
Processing Fee : 0.25 % of loan amount of maximum of Rs. 20000 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : maximum of Rs. 5 crores and no minimum amount.
Pre-closure charges: No
Partial/Pre-payment Charges : No
Moratorium Period : Up-to 18 months
Average time of approval of loan : 7 working days
Margin : Down-payment – 20%, loan amount 85 % of property value.
Loan amount calculation on the basis of income : 72 times of Net monthly income.
15. Punjab National Bank
Age Eligibility : 23 years to 70 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest : 9.65 %
Processing Fee : 0.25% f loan amount and maximum of Rs. 5000 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : Maximum of 50% of net monthly income.
Loan Amount : minimum of Rs. 5 Lakhs and maximum of Rs. 5 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : Up-to 12 months
Average time of approval of loan : 3.6 working days
Margin : Down-payment – 20% and loan amount of 90% of property value.
Loan amount calculation on the basis of income : 60 times of Net monthly income.
16. Union Bank of India
Age Eligibility : 21 years – 65 years.
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
Up-to Rs. 5 Lakhs : 9.65%
Rs. 5 Lkahs to less than Rs. 30 lakhs : 11.40%
Rs. 30 Lakhs to less than Rs. 50 Lakhs : 12.40%
Rs. 50 Lakhs and above : 12.65%
Processing Fee : 0.50% of loan amount and maximum of Rs. 15000 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : EMI should be between 60% and 75% of Net monthly income.
Loan Amount : maximum loan amount is Rs. 5 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : Up-to 18 months
Average time of approval of loan : 5 working days.
Margin : Down-payment – for property value up-to Rs. 75 Lakhs – 20%, Rs. 75 Lakhs to Rs. 2 crores – 25%, Rs. 2 crores and above – 35%.
Loan amount calculation on the basis of income : EMI * tenure (months) = Loan Amount + interest.
17. HDFC Bank
Age Eligibility : 21 years – 60 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
For General applicants : 9.45% - 9.95%;
For Women : 9.30% - 9.95%.
Processing Fee : 0.50% of sanctioned Loan Amount or maximum of Rs. 11500 + S.T.
Tenure : 15 years to 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 5 Lakhs and maximum of Rs. 10 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : Up-to 24 months.
Average time of approval of loan : Same day loan sanctioning.
Margin : down-payment 20%. Loan amount – for property value up-to Rs. 30 Lakhs – 90%, Rs. 30 Lakhs – Rs.
75 Lakhs -80%, Rs. 75 Lakhs and above – 75%.
Loan amount calculation on the basis of income : HDFC Bank didn’t share the calculation.
18. ICICI Bank
Age Eligibility : 21 years – 65 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
For General applicants :
For salaried borrowers :9.45% - 9.70% for loans up-to Rs. 5 crores;
For self employed : 9.45% - 9.70% for loans up-to Rs. 15 crores.
For Women : 9.40% - 9.65%.
Processing Fee : 0.50% of sanctioned Loan Amount or maximum of Rs. 10000 + S.T.
Tenure : 3 years to 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 5 Lakhs and maximum of Rs. 10 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 18 months.
Average time of approval of loan : Same day sanctioning.
Margin : down-payment 20%, loan amount – 80%.
Loan amount calculation on the basis of income : Calculated on the basis of FOIR of 60%. (FOIR/EMI*100000)
19. Axis Bank
Age Eligibility : 24 years – 65 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
For salaried borrowers : up-to Rs. 2800000 – 9.45%, Above Rs. 2800000 – 9.50%
For Self-employed borrowers : up-to Rs. 2800000 – 9.55%, Above Rs. 2800000 – 9.60%
Processing Fee : 0.50% of sanctioned Loan Amount or maximum of Rs. 10000 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 5 Lakhs and maximum of Rs. 5 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 18 months.
Average time of approval of loan : 3.1 working days.
Margin : down-payment – up-to Rs. 2800000 – 20%, Above Rs. 2800000 – 25%.
Loan amount calculation on the basis of income : Calculated on the basis of FOIR – 65%.
20. Yes Bank
Age Eligibility : 23 years – 60 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest : 10.25% to 10.75%
Processing Fee : maximum of Rs. 11500 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 5 Lakhs and maximum of Rs. 10 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 18 months.
Average time of approval of loan : Same day loan sanctioning.
Margin : down-payment 30%, loan amount – 70%.
Loan amount calculation on the basis of income : Is calculated on the basis of FOIR 60%.
21. IndiaBulls Home Loans
Age Eligibility : 23 years – 70 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
For General applicants : 9.45% floating;
For Women : 9.40% floating.
9.95% fixed (for first 3 years and floating thereafter)
Processing Fee : 0.50% of sanctioned Loan Amount or minimum of Rs. 7500 + S.T.
Tenure : Maximum of 30 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 2 Lakhs and maximum of Rs. 3 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 24 months.
Average time of approval of loan : 3 – 7 working days.
Margin : down-payment 20%, loan amount – 80%.
Loan amount calculation on the basis of income : IndiaBulls Home Loans didn’t share the calculation of loan
amount based on the applicant’s income.
22. L&T Finance
Age Eligibility : 22 years – 65 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest :
For salaried : 9.65% +
For self-employed : 9.90% +
Processing Fee : 2% of sanctioned Loan Amount.
Tenure : Maximum of 20 years.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 10 Lakhs and maximum of Rs. 10 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 18 months.
Average time of approval of loan : 3 – 7 working days.
Margin : down-payment 20%, loan amount – 80%.
Loan amount calculation on the basis of income : Is calculated on the basis of FOIR – Net monthly income
below Rs. 25000 – 50%, Net monthly income Rs. 25000 to up-to Rs. 50000 – 55%, Rs. 50000 and above to up-
to Rs. 1 Lakh – 60%, Net monthly income of Rs. 1 Lakh and above – 65%.
23. Reliance Home Finance
Age Eligibility : 21 years – 58 years/ 60 years for salaried appicants.
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest : 9.95%
Processing Fee : 1% of sanctioned Loan Amount or minimum of Rs. 3000 + S.T.
Tenure : Minimum of 3 years to 25 years for salaried borrowers and 12-15 years for self-employed.
EMI calculation/limitation : EMI should be maximum of 50% of Net Monthly Income.
Loan Amount : Minimum of Rs. 30 Lakhs and maximum of Rs. 5 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 12 months.
Average time of approval of loan : 3-7 working days.
Margin : down-payment 25%, loan amount – 75%.
Loan amount calculation on the basis of income : 100 times of applicant’s Net monthly income.
24. Tata Capital Home Loans
Age Eligibility : 25 years – 58 years
Who can apply : Anyone with salaried or self-employed with regular income.
Rate of Interest : 9.45% to 9.55% depending on the Loan Amount.
Processing Fee : Minimum of Rs. 5750 to Rs. 11500
Tenure : Minimum of 10 years to Maximum of 30 years.
EMI calculation/limitation : EMI should be maximum of 60% of Net Monthly Income.
Loan Amount : Minimum of Rs. 40 Lakhs and maximum of Rs. 10 crores.
Pre-closure charges : No
Partial/Pre-payment Charges : No
Moratorium Period : up-to 36 months.
Average time of approval of loan : 3 – 7 working days.
Margin : down-payment 25%, loan amount – 75%.
Loan amount calculation on the basis of income : Tata Capital Home Loans didn’t share the calculation of loam
amount based on the applicant’s income with me.
25. Analyzation
In terms of Home Loan, State Bank of India is better because of its wide variety of products and low interest
rates. Whereas, Bank of Baroda is trying to provide better products and services by providing concession in
interest rate to government and preferred organization employees.
Bank of Baroda sanctions loan within short time period respect to other public sector banks.
Nationalized Public sector banks take maximum time for processing Loan applications. SBI also takes upto 1
year and even loads of file pending for processing as a result applicants shift their applications to other banks or
financial institutions for faster sanctioning.
Financial Institutions sanctions loan very fast for which applicants first gets the loan from a financial institution
then later on transfer the loan to other public/private sector banks.
Bank of Baroda gets many transfer of Home loans from L&T Finance.
26. Conclusion
Private banks have low rate of interest but their penalty charges are very high whereas in public sector banks the
rate of interest are high but they have very low penalty charges. Maximum times the applicants also get the
charges waved by consulting the Branch Manager
Private Sector banks provide better services.
In co-op banks loans will be sanctioned but it depends upon the relation with the banking personnel and member
of the banks.
The very important benefit that the customer getting tax benefits. Home loans are the only product which
Government of India have given relief & tax deduction for the income tax payee.