Under the Vijaya Bank home loan scheme the bank disburses a maximum of Rs. 100 lacs loan.Vijaya Bank  home loan for repair is maximum Rs 10 lacs.

Vijaya Bank  Home Loan Interest Rate :

Vijaya Bank  home loan rate offered is variable at different amounts of loan disbursed.

 Vijaya Bank  home loan interest rate is based on base rate system. Vijaya Bank  home loan rate is based on 9.00% base rate.

Vijaya Bank  Home Loan Interest Rate For Loan Up To Rs 30 Lacs:

Fixed Vijaya Bank  Home Loan Rate-

11.50% up to 5 years

Floating Vijaya Bank  Home Loan Rate-

Up to 5 years-10.00%

5-10 years-10.25%

10-15 years-10.50%

15-20 years-10.75%

Vijaya Bank Home Loan Interest Rate For Loan Above Rs 30 Lacs:

Fixed-

12.00% up to 5 years

Floating-

Up to 5 years-10.75%

5-10 years-11.00%

10-15 years-11.25%

15-25 years-11.50%

Vijaya Bank  Home Loan Interest Rate For Loan Above Rs 200 Lacs:

Floating-

Up to 5 years-10.75%

5-10 years-10.75%

10-15 years-11.00%

15-25 years-11.00%

Vijaya Bank  Home Loan Criteria:

Vijaya Bank  Home Loan Eligibility Criteria For Salaried People:

As per the Vijaya Bank  home loan review the maximum age at the time of application of the loan should be 55 years. Vijaya Bank  home loan applicant should have a salary certificate. As per the Vijaya Bank  home loan eligibility a salaried customer should have at least been in service for 2 years.

Vijaya Bank  home loan eligibility Criteria for self employed:

Vijaya Bank  home loan review shows the self employed person has to show proof of income. Vijaya Bank  home loan self employed applicant needs proof of experience.  As per the Vijaya Bank  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 Vijaya Bank  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

Vijaya Bank  Home Loan Documents For Salaried People

Salary Certificate as an income proof

Vijaya Bank  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 Vijaya Bank  home loan review the loan is provided for a maximum period of 20 years in case of payment in equated monthly installments. In case of Vijaya Bank  home loan for self employed they can repay in 20 years or 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
• No prepayment penalty if the loan is adjusted by the borrower from his own sources of income.
• 1% charged on an average o/s. balance of last 12 months if loan is closed on take over by other banks or financial institutions within 5 years of loan.
• 1.10% for corporate

0.90% for Pensioners, Senior citizens or individuals from rural.

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.