Buying a house is a dream for many and involved a lot of financial planning. PASPL makes it simpler for those who want to realise this dream.
We PASPL offer you Home Loan solution and information to either purchase/construct a new home, or renovate an existing one.
Track your loan application status
Get low EMI with loan tenure of up to 30 years
Eligibility to avail Additional Loan through IMGC scheme
| CRITERIA | SALARIED | SELF - EMPLOYED |
|---|---|---|
| Age | Min. age should more than 24 yrs. Max. age should less than 58 yrs. |
Min. age should more than 24 yrs. Max. age should less than 60 yrs. |
| Tenure | 30 Years | 20 Years |
| Income | Net Salary should INR 20,000.00 and above per month | PAT should INR 3,00,000.00 with gross turnover of INR 30,00,000.00 and above on last FY |
| Experiance | Min. 2 yrs. | Min. 5 yrs. |
| Credit Score | Above 750 | Above 750 |
| ROI | As per RBI Guidelines | 0.15% higher than normal |
| Processing Fees | 0.5% + applicable govt. taxes | 0.5% + applicable govt. taxes |
You can apply for Home Loan through our website www.proplenders.com or visit the nearest PASPL branch/office.
Banks and financial institutions, in general, calculate Equated Monthly Instalment (EMI) of a Home Loan through a common mathematical formula. Hence, EMI is calculated basis loan amount, tenure and interest rate. Bank will take the outstanding loan amount at the end of each month and multiply it by the interest rate that applies to your loan, then divide that amount by 12. To calculate Home Loan EMI, click here
Funds provided to an individual / entity for purchase construction extension or renovation of a residential property is called a Home Loan.
Documents required for applying for Home Loan are loan application form, address proof, identify proof and your financial documents.
Home Loan eligibility is calculated after considering various factors including monthly income, fixed monthly obligation, current age, retirement age, etc. Your Home Loan eligibility can also be considered as an indicator of your Home Loan affordability. To check your eligibility, click here
Under floating rate of interest, loans are linked to benchmark rate. Hence, whenever bank increases or decreases the benchmark rate, the interest rates of the loans will fluctuate and accordingly the EMI or tenure of the loan will increase or decrease.
A fixed rate of interest on a loan would mean that the interest rate of the loan would remain fixed throughout the tenure of the loan and hence, the EMI of the loan would remain fixed.
Yes, you can claim deductions in your income tax return against principal and interest payments that you make towards repayment of your Home Loans. The type and amount of income tax deduction available against repayment of Home Loan is governed by applicable Income Tax Laws of Government of India.
