Lakshmi Vilas Lakshmi Home Loan Interest Rate:

Lakshmi Vilas Lakshmi home loan rate offered is variable at different amounts of loan disbursed.

 Lakshmi Vilas Lakshmi Home Loan Interest Rate For Loan Up To Rs 30 Lacs:

Fixed Lakshmi Vilas Lakshmi home loan rate-

11.00% up to 5 years

11.25% for 5-15 years

Floating Lakshmi Vilas Lakshmi home loan rate -

Up to 5 years-10.25%

5-15 years-10.50%

Lakshmi Vilas Lakshmi Home Loan Interest Rate For Loan Above Rs 30 Lacs:

Fixed Lakshmi Vilas Lakshmi home loan interest rate-

11.25% up to 5 years

11.50% for 5-15 years

Floating Lakshmi Vilas Lakshmi home loan interest rate-

Up to 5 years-10.75%

5-10 years-10.50%

10-15 years-10.75%

Lakshmi Vilas Lakshmi Home Loan Criteria:

Individuals and HUFs with sufficient income and who can produce satisfactory proof of such income by way of salary certificates, Income Tax certificates etc.can avail loans under the scheme.

Lakshmi Vilas Lakshmi Home Loan Eligibility Criteria For Salaried People:

Lakshmi Vilas Lakshmi home loan applicant should have a salary certificate. As per the Lakshmi Vilas Lakshmi home loan eligibility a salaried customer should have at least been in service for 2 years.

Lakshmi Vilas Lakshmi Home Loan Eligibility Criteria For Self Employed:

Lakshmi Vilas Lakshmi home loan review shows the self employed person has to show proof of income. Lakshmi Vilas Lakshmi home loan self employed applicant needs proof of experience.  As per the Lakshmi Vilas Lakshmi home loan eligibility an applicant should have 3 years of minimum work experience.

Criterion's and documents required for salaried and self employed

Common Documents for Lakshmi Vilas Lakshmi Home Loan Customers

Duly Filled Application Form

Sale Agreement Copy of House / Flat

Co- operative or societies membership proof

Valuation report for construction/Estimate of construction from bank approved Engineer / Lawyer

Lakshmi Vilas Lakshmi Home Loan Documents for Salaried People

Salary Certificate as an income proof

Lakshmi Vilas Lakshmi Home Loan Documents for Self Employed

Proof of income

Proof of experience for professionals or self employed

Procedure And Options To Apply For The Loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

Maximum And Minimum Tenor Of The Loan:

According to the Lakshmi Vilas Lakshmi home loan review the loan is provided for a maximum period of 15 years in case of payment in equated monthly installments by the age of 65 years whichever is early.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre Closure Process: In case a customer of Lakshmi Vilas Lakshmi home loan wishes to close his loan before the agreed period or term is termed as pre closure. No pre closure charges have been disclosed by the bank. It will be wise to contact the bank authorities if one is looking forward to pre close the loan.

Tax Benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.