Transcript
SUBMITTED BYBikiran Thakur Rupam Dhar Sandip Nandy ² T013 ² T058 ² T062
Saurabh Kr. Hazra² T069 Sanmoy Rakshit - R070 Yasmin Khan ² T089
Home Loan Types
HDFC HOME LOAN TYPES-
1. HDFC Home Purchase Loan : Purchase a new or resale property, or to construct a home. 2. HDFC Home Improvement Loan : Repair an existing home, or to refurbish it (ex. painting, plumbing,electrical work etc) 3. HDFC Home Extension Loan : Extend an existing home by adding additional rooms or storeys. 4. HDFC Land Purchase Loan : Purchase land without immediate construction of house
ICICI HOME LOAN TYPES
1. ICICI Home Loan : Purchase a new or resale property, or to construct a home 2. ICICI Home Improvement Loan : Repair an existing home, or to refurbish it (ex. painting, plumbing,electrical work etc) 3. ICICI Land Loan : Purchase land for construction of house in near future 4. ICICI EMI Under Construction : Purchase home that is already under construction 5. ICICI Balance Transfer Loan : Transfer home loan from other banks/financial institutions 6. ICICI Top-Up Loan : Get additional funds for personal requirements on the existing home Loan on the same property 7. ICICI Office Premises Loan : For entrepreneurs to purchase, construct or extend their office premises
UNION BANK HOME LOAN TYPES
1. UNION Bank Home Loan : Purchase a new or resale property, or to construct a home 2. UNION Bank Home Improvement Loan : Repair an existing home, or to refurbish it (ex. painting, plumbing,electrical work etc) 3. UNION Land Loan : Purchase land for construction of house in near future 4. UNION Bank Home Extension Loan : Extend an existing home by adding additional rooms or storeys. 5. UNION Top-Up Loan: Get additional funds for personal requirements on the existing home Loan on the same property
Features & Benefits
Features & Benefits of HDFC Home Loan
1. By automated repayment, customer can repay home loan EMIs directly from their HDFC Bank savings account, saving customer the trouble of procuring, signing and tracking post-dated cheques 2. Home loan customers can avail other loans (such as HDFC Personal Loans, HDFC Car Loans, Two-wheeler Loans and Loan against securities) at lower interest rates 3. HDFC home loans are one of the lowest interest rates in the market 4. Fixed or floating structures are both available. Individual and join home loan are supported 5. When home loan interest rates changes, customer can opt to pay same EMI so that their tenure increases/decreases based on interest rate change 6. Repayment schemes like 'Step Up Repayment','Accelerated Repayment Scheme' which help customers decide higher EMIs when they get increments
Features & Benefits of ICICI Home Loan
1. Partial pre-payment on your ICICI home loan can be made without incurring any charges 2. Documentation is simple 3. ICICI offers doorstep service for ICICI home loans, thus saving you a lot of time 4. ICICI will pre-sanction your ICICI home loan even before you identify your property
Features & Benefits of UNION Bank Home Loan
Loans available for purchase, construction, repair/improvement/extension of independent house/flat and purchase of second property or plots sold by a government-recognized agency viz., HUDA, HOUSEFED and such others. 2. Provisions of Free Building Insurance, Natural Death Insurance and Free Personal accident cover. 3. Value- added services like issue of credit card 4. Union Mortgage scheme provides loans against properties to those within the age group of 18-60 years of age owning residential/ commercial property) and are income tax assesses having net monthly income of Rs.10, 000 per month in the case of salaried persons and an annual income of Rs.1.20 lakh per annum (in case of non salaried individuals).A top-up loan for existing home loan borrowers who have repaid at least 24 home loan EMI's or if the net monthly take-home income is not be less than 35 per cent of the gross monthly income/earnings after considering all deductions including the EMI of the proposed top-up loan.
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Interest Rates for various loan amountBank name ICICI Bank ICICI Bank Special Scheme ICICI Bank HDFC HDFC HDFC - Special Scheme Union Bank of India Interest Type Floating Floating Fixed Floating Fixed Floating Floating upto 5 lakh 8.75 8.25 16 8.75 14.25 8.25 9.5 Interest Rates for various loan amount upto 5 20-30 30-50 50-75 lakh lakh lakh lakh 8.75 8.75 9 9.5 8.25 16 8.75 14.25 8.25 9.5 8.25 16 8.75 14.25 8.25 9.5 NA 16 9 14.25 8.25 9.75 NA 16 9.25 14.25 8.25 10.25 >75 lakh 9.5 NA 16 9.25 14.25 8.25 10.25
Service Charges & Fees Charges Processing Fees HDFC BANK 0.5% of the loan amount, capped at Rs. 10,000 ICICI BANK UNION BANK 0.50% of loan amount subject to a maximum of Rs.15000/- plus service tax as applicable
Prepayment Fees
Loan Tenure Amount Funded
0.5% of the loan amount or Rs. 1500/- (Rs. 2000/for Mumbai, Delhi & Bangalore), whichever is higher + applicable Service Tax & Surcharge 2% of amount NIL - 2% + being prepaid applicable Service Tax & Surcharge on full prepayment 1 year to 20 years 1 year to 20 years Up to 85% of Up to 80% of property value property value
NIL
1 year to 20 years Up to 80% of property value
ICICI Bank is the best for us because Attractive interest rates Personalised home loan counselling Legal and technical assistance Home loan insurance- ICICI Bank
Home Loans provids "HomeSafePlus" &
"HomeAssure/HealthAssure" two exclusive and innovative insurance plans to insure your Home Loan.
Home Safe Plus* Key Benefits of Home Safe Plus:
No medical checkup Comprehensive insurance plan for individual, home and its contents Single premium long-term insurance plan Premium paid for the Critical Illness cover is eligible for tax benefits u/s 80D of the Income Tax Act Sum Insured remains constant throughout the policy period (loan O/S amount to come to bank, rest goes to individual) Multiple applicants can be covered under the same loan Simple application form
Home Assure/Health Assure# Key Benefits of Home Assure/Health Assure:
Life Cover from Home Assure for the entire home loan tenure Critical Illness cover from life threatening illnesses like cancer, coronary artery bypass, heart attack, kidney failure, stroke, major organ transplant Special non-medical limits only for ICICI Bank Home Loans customers Dual benefit to customers, Life Cover from Home Assure and Critical Illness Cover from Health Assure Dual tax benefits, Section 80C benefits under Home Assure, Section 80D benefits under Health Assure Simplified claim procedure
*Insurance cover for Home Safe Plus provided by ICICI Lombard General Insurance Company. #Insurance cover for Home Assure/Health Assure provided by ICICI Prudential Life Insurance Company. Please refer the Home Safe Plus and Home Assure/Health Assure brochures for more details. Insurance is a subject matter of solicitation. Customers have the option of taking insurance from any other insurance company And, neither would we charge you extra for this delay.If it is refinancing you are interested in, it is possible within 6 months from the date of purchase of property.
Wide network of financing-
With over 200 offices, 90 outreach programs - ICICI is
able to provide home loans in over 2400 locations in India. You can apply at your local ICICI office for properties in locations where we finance.
Post Disbursement Services ±Income tax Certificate to enable you to claim the tax
benefits are sent to you. This service is absolutely free
Simplified documentation Doorstep delivery of home loan papers