The lowered interest rates are tagged in the Allahabad bank home loans interest rate, retail loans processing fee. The bank announced upto 25% interest rate on Allahabad bank for home loan. The individuals who are interested to avail personal loan for building their dream house can be fulfilled by Allahabad Bank home loan.
About Home Loan:
Most of the customers are keen to pursue Allahabad Bank home loan Interest rate for building their home. The bankers give comfort in paying the house loans for the customers with tax benefit as well. The processing fee is reduced upto 50% on home loans.
Documents for home loan:
One should submit the following details to avail home loan:
- Loan application form after completion
- 3 Passport size photographs
- Proof of identify
- Photo copies of Voters ID card
- Driving Licence
- Income Tax PAN (card)
- Proof of residence
- Photo copies of recent Telephone Bills
- Electricity Bill
- Property tax receipt
- Proof of business address for non-salaried individuals
- Statement of Bank Account/ Pass Book for last six months
- Personal Assets and Liabilities statement
The housing loan accessibility in India is calculated on the basis of monthly reducing balance. This lowers the reduction on interest payment of the individuals by reducing burden.
Individuals are interested in pursuing the loan amount upto Rs. 20lakhs for a period of 5 years, have an interest of 11.00%. This is same for the same amount for 5 to 10 years with an interest of 11.50%. The cost of home loan increases along with time may increase an interest from 11.75% to 13.25%. The interest can be divided into EMI for reducing burden on the individual. The interest on housing has increased in India Allahabad Bank home loan interest rate.
The cost details include the purchase price of land, house, or flat. The tax liability for the building cost of the construction, renovation, extension of the home. Stamp duty and registration charges are applicable. Repayment of loan for salaried employee is extended upto 5 years after retirement.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.