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Soneri Ghar Finance

Purpose

  • Purchase / Construction of Property for self-occupancy.
  • Extension / Renovation on self occupied residential Property.

Product Categories

  • Purchase of pre-constructed Residential Property.
  • Construction of residential property on self owned plot of land.
  • Extension / Renovation on self owned & occupied property.
  • Balance Transfer Facility (BTF) for any of the above finance.

Eligible Borrowers*

  • Salaried Persons
  • Self Employed Professionals
  • Business Persons

Financing Amount

  • Purchase: Rs.Up to 10 Million
  • Construction: Rs.Up to 10 Million
  • Extension / Renovation: Rs.Up to 03 Million
  • Balance Transfer Facility: Rs.Up to 10 Million

Tenure

  • Purchase: Up to 20 Years
  • Construction: Up to 20 Years
  • Extension / Renovation: Up to 07 Years
  • Balance Transfer Facility: Up to 20 Years
    (Calculated from the date of original finance)

Mark-up Rates**

  • 1 Year KIBOR + 4% p.a., to be revised on each anniversary of finance.

Processing Fee

  • 0.5% of Finance Amount Min. Rs. of 2,500/=

Service Length

  • Minimum 5 years of confirmed service with present employer in case of salaried persons.

Age

At the time of maturity of the Finance applicant's age must not be more than;

  • 60 years in case of Salaried persons
  • 65 years in case of self Employed / Business persons

Debt Burden

  • Monthly repayment installments not to exceed 40% of the net take home salary or 40% of declared monthly income (taking into account other financing facilities availed from other banks/DFIs).

Moratorium

  • A moratorium of 12 months is allowed in case of finance for Construction.

Pre-Payment Charges

  • 2% of the outstanding amount being prepaid.

Late Payment Charges

  • Rs. 500/- per Installment per month.

Insurance

  • Mortgage Protection Insurance cover through Bank’s designated Insurance Company.
  • Insurance premium on the insurance cover payable upfront each year.

Charges

  • Documentation Charges at actual
  • Valuation Charges
  • Legal Opinion Charges
  • Income Estimation Charges (if applicable)

 

*     Subject to fulfillment of our eligibility criteria.
**    Subject to change and revised rates to be communicated from time to time.

For further details please call:
Consumer Finance Division # 111-567-890 ext 2435.