HL – Housing Loan
A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. Home loans offer high-value funding at economical interest rates and for long tenures. They are repaid through EMIs. After repayment, the property’s title is transferred back to the borrower.
Key Features of Home Loans:
- Competitive Interest Rates: The bank offers competitive interest rates on home loans.
- Flexible Repayment Options: You can choose from a variety of repayment options to suit your budget.
- Quick Disbursement: The loan disbursement process is quick and hassle-free.
- Minimal Documentation: The bank requires minimal documentation to process your loan application.
Required Documents:
- 1. Original Title deeds
- 2. Link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights)
- 3. Latest Rent receipts in original
- 4. KYC Documents of Applicant along with sureties/guarantors
- 5. PAN card if available
- 6. Photographs of self and joint holders of the property
- 7. Municipal plan
- 8. Income tax returns for the last three years in case of an assessee
- 9. Income proof (salary certificate latest)
- 10. Three years balance sheet and profit and loss account in case of business persons
To apply for a Housing Loan, you can visit the nearest branch of Kanaka Mahalakshmi Cooperative Bank.