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Composite Loans
Buying land and building for your home is one of the biggest undertakings you will make and can be quite daunting , through our composite loan you can explore the land of your choice and construct your dream home.
- Loan for purchase of land and subsequent construction of house.
- Efficient legal and technical support.
- Long term with maximum tenure.
- Wide network of branches for your support.
1. Loan Term
| Maximum | 30 years |
| *It cannot extend beyond your retirement age years. (60 years for salaried individuals and 70 years for self-employed individuals) | |
2. Loan Amount
60% of the registered value of the property, as initial loan for purchase of land and remaining amount depending on the estimate of construction cost.
3. Interest Rate & Charges
| Variable Rate |
| Your home loan
interest rate are CIBIL score
linked (T&C apply)
For best rate please contact your nearest branch. |
4. Repayment Mode
You can pay your home loan EMIs through:
- Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank.
- Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available)
5. Insurance
- Free property Insurance.
- Free Accidental Death Insurance.
- Life insurance(Optional against one time premium) arranged through Kotak Life Insurance , Birla Sun Life Insurance.
EMI Calculator:
Home Loan EMI calculator is a basic calculator that helps you to calculate the EMI, monthly interest and monthly reducing balance on the basis of principal amount, loan tenure and interest rate.
Please note that the Home Loan EMI calculator has been created to give you an approximate understanding and should not be considered as absolute.
Eligibility Calculator:
The house loan eligibility calculator acts as a guide for you to understand an approximate amount that you can avail for your Home Loans.
KYC Documents
ID & Address Proof (Any One Required)
- PAN card (Mandatory, if income is considered for loan eligibility calculation).
- Valid Passport.
- Voter ID card.
- Driving license.
- Aadhar Card.
Residence Proof (Any One Required)
- Latest Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
- Ration card.
- Letter from employer.
- Bank statement /copy of Pass book reflecting address.
- Valid Rent Agreement.
- Sale Deed.
Income Documents
Salaried Individuals.
- Salary slips of the last 12 months or salary certificate*.
- Copy of bank statements of the past 1 Year (salary account).
- Form 16 / Traces *If variable components like overtime and incentive are reflected,then salary slips for the past six months are required.
Self-Employed Professional.
- Certificate of qualification for professionals : CA, Doctors or Architects.
- Copy of last three years’ income tax returns, along with computation of income.
- Copy of last three years’ P/L account with all schedules and audited balance sheet, wherever applicable.
- VAT or Service Tax or GST returns or TDS Certificate.
- Bank statement for the last 12 months. (Savings account, Current account and O/D account)
Business Class
- Copy of your last three years’ income tax returns, along with computation of income.
- Copy of last three years’ P/L account with all schedules and audited balance sheet, wherever applicable.
- VAT or Service Tax returns or GST or TDS Certificate.
- Bank statement for the last one year .(Savings account, current account or an O/D account)
Property Documents
- Allotment letter from builder.
- Agreement of Sale.
- Registration and stamp duty receipt.
- Index- ii.
- NOC from builder.
- Own Contribution Receipt (OCR ).
- All builder linked documents (Applicable for cases which are not approved or previously not funded by GICHFL).
- Development Agreement.
- Partnership Deed.
- Sale Deed.
- Title Search Report.
- Estimate for construction.
Note: Original documents are required for verification purpose only(we request you to cooperate with us in complying with the guidelines on KYC).