If you are an independent women and looking to buy your dream white house with a red door then this is the right place for you. Today in this article we are going to discuss various home loan provisions made available for the fairer sex by different banks. The benefit of this provision can be availed by salaried women only, either in private or government sector.
Earlier loans were made available to women for fulfillment of household needs and purchasing of ornaments in gold and silver. Now with the women empowerment a big clause and cause the banking industry is vying to reach out to its numerous prospects and increase their clientele.
SBI - HER GHAR (home loan for women) at concessional interest rate
@ 10.10 % (EMI RS 885/ lac for a period of 30 years) subject to the following two conditions
1. The woman should be the sole applicant or first co-applicant of Home Loan
2. The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership
The scheme has been extended in view of the overwhelming response received across the country.
Loans of up to Rs 75 lakh would be available to new borrowers at 10.15 per cent against the existing rate of 10.50 per cent. For women borrowers, the rate, after an additional concession of 0.05 per cent, would be 10.10 per cent.
For loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent. This scheme is valid for women as sole applicants or the first of the co-applicants as also for the sole or the first of the co-owners of the property.
Loans of up to Rs 75 lakh would be available to new borrowers at 10.15 per cent against the existing rate of 10.50 per cent. For women borrowers, the rate, after an additional concession of 0.05 per cent, would be 10.10 per cent.
For loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent. This scheme is valid for women as sole applicants or the first of the co-applicants as also for the sole or the first of the co-owners of the property.
DHFL - Women Special Home Loan
Eligibility
You can avail a Home Loan of up to Rs 500,00,000 (minimum loan amount Rs 1 lac) but not exceeding 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower. The loan amount can be further enhanced by including an earning co-applicant.
The actual Home Loan amount is determined taking into various account factors such as:
· Repayment capacity
· Age
· Educational qualifications
· Stability and continuity of income
· Number of dependents
· Co-applicants income
· Assets
· Liabilities
· Saving habits
Easy repayments
You have 2 options for repayment of the loan based on the EMIs payable on your Home Loan:
· Through ECS (Electronic Clearing Service) based on standing instructions to your bank.
· PDCs (Post Dated Cheques) drawn on your Savings/Salary account.
