Housing Loan

                                                               Loan For Home Construction / Repair / Change
kanpur DCB home loans provide as per your requirement. A dedicated team of experts and a complete package to meet all your housing finance needs Kanpur DCB Home Loans, help you realize your dream.
Credit limits and margin of the applicant -

1. For purchase of constructed building or construction of new buildings, maximum credit limit of Rs 10.00 Lakh.
2. Maximum Credit limit for Repairs/ changes/ additions is Rs 2.00 Lakh.
3. Minimum Loan Amount Rs 0.50 lakh.
4. 25% of the approved loan will be as a contribution margin of the applicant.
5. The loan amount is determined by the purchase price of the proposed building / construction costs, repairs / changes / additions to the applicant's capacity to pay the amount and cost estimates will be on his income.
6. Authorized Evaluation Report / Intimate / original map / proposed map.

Interest Rate -

1. Upto 5 Years  9.25%
2. From 5 Years to 10 Years 10.00%
3. From 10 Years to 20 Years 10.75%

Calculation of interest on a monthly basis, while on non-payment of outstanding installments punishable interest will be charged at an annual rate of 2%.
** These rates will apply till the full repayment of the loan.
Loan eligibility -

1. Regular employees of the Government of India / U.P.
2. Permanent Employees of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt).
3. In addition to the above, a person whose has income tax assessed in the last 3 years of and Permanent Account Number (PAN) is allocated to him.
4. 50 years old employees will be eligible for loans up to 55 years in specific cases. Debt repayment must be 2 years before retirement.
5. Loan in the name of two individuals, except one of them is employed. Co-loan applicant may be husband, wife, parent, son or father-in-law.
6. This plan is limited to the municipality/ towns/ cities, with a population of over 50 thousand.

Duration of Loan -

1. The maximum term of the loan will be 20 years to repay or 2 years earlier than the retirement of the employee.
2. Repayment of Loan for Repairs/ changes/ additions etc, will be up to 5 years or 2 years before retirement.
3. Determination of the repayment period of loan will be the subject to sanctions of loan repayment ability of the borrower of loan.

Repayment Capacity / Payment Assessment -

1. The applicant's monthly income equal to 30% per month, but due to the monthly deduction from salary, monthly expenses and savings capacity it may be reduced.
2. By adding deductions from pay to the loan installment the total reduction in the income of the applicant should not exceed 50% of the salary.
3. In case of Joint Loans, repayment capacity will be assessed on the basis of 30% of sum of both salaries.
4. 6 months prior to the application,  calculation of the full capacity reductions should be assessed of the paid average salary.
5. Paid Installments will be consolidated monthly.
6. Payment of the final installment will be released next month.

** For more details,please contact the Zila Sahkari Bank Ltd. Kanpur nearest Branch.