- Application Form and Processing fee cheque
- Photograph of applicant and co-applicant
- KYC documents as PAN/Aadhar/Voter ID/Passport/Driving License etc.
- Address proof as Landline phone bill/Registered rent agreement/Electricity bill/Passport & Driving
- license if staying at same address as mentioned in the document etc.
- Income proof as salary slip/Income Tax returns/business financials
- Banking- bank statement for last 6 months
- Property Papers- copy of property papers
EMI means Equated Monthly Installment. It is the amount payable to the lender every month, till the loan is repaid back in full. EMI comprises of Principal and Interest amount. EMI depends on the quantum of loan, interest rate applicable and the tenure of the loan availed.
Repayment can be made by way of PDCs/ECS/ACH
Home loans are usually calculated on monthly reducing balance. In this system, the principal, reduces every month as you pay your EMI.
Repayment period for Home Loans normally range from 1 to 20 years.
- Capri Global extends Home loans to:
- Only Resident Indians
- Minimum 21 years of age at the time of loan application.
- Below 65 years at the time of loan maturity
- Either salaried or self employed
A Co-applicant is/are the co-owners of the property which is being offered as security to the loan. However, all co-applicants need not be co-owners. Co-applicants to the loan are generally first blood relative like father, mother, son, daughter, sister, brother, spouse etc.
- Carpet Area: This is the actual usable area of the flat/house, which does not include the area of the walls.
- Built up Area : This is the usable area of flat/house, that includes the area of the walls aswell.
- Super Built up Area: This includes the built-up area, along with the area under common spaces such as the lobby, lifts, stairs, etc. This term is only applicable to multi-storey units.
Fixed rate of interest implies that the rate of interest remains unchanged for the entire duration of the loan. This will not change over the tenure of loan as in case of floating rates.
Floating rate of interest fluctuate basis the retail Prime Lending Rate (PLR). The effective rate = RPLR – /+ fixed margin. It changes with the change in RPLR.
Semi-fixed rate of interest refers to a loan where certain period of the loan is under fixed rate of interest and balance part of loan tenor under floating rate of interest.
Prior to full disbursement and start of EMI, Pre-EMI interest is paid on the extent of the loan disbursed. Pre-EMI interest is the simple interest payable every month till the loan is fully disbursed. EMI starts once the loan is fully disbursed. PEMI generally is paid in under-construction properties.
It is the fee payable towards processing of the loan application. Processing Fee is non-refundable in nature
- No Pre-payment penalty is applicable on Housing loan under Variable/Floating Rate loan.
- On Fixed Rate of Interest there is no penalty applicable if the loan is repaid by funds from own source. If the funds are from any other source i.e. from a bank/HFC/NBFC and/ or a financial institution, prepayment penalty would be applicable as per the terms and conditions of the loan agreement which is duly signed and executed by the customer.
Repayment period options range from 5 to 20 years.
For home loans , the property to be purchased, itself becomes the security and is mortgaged to the lending institution till the entire loan is repaid.
No, Guarantor is not generally required, except in few specific cases where it is specified in the sanction letter.
Loans can be applied either before or after selecting the property. The loan amount is sanctioned in principle to let buyers know the eligible amount and decide their budget for buying a house/flat etc.
Actual disbursement is done after satisfactory verification of all necessary documents and completion of specific procedures.
About 3-15 days, subject to proper documentation provided by the Home loan applicant.
On an average, loans are sanctioned within 3-7 days working days after satisfactory and complete documentation
On an average, loans are disbursed within 3-5 working days after satisfactory and complete documentation
Part disbursement is disbursement of home loan in tranches as demanded by builder based on the stage of construction
Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is ` 2,00,000/- for the interest amount paid in the financial year and up to ` 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
We have dedicated Sales-Managers at all branches. You can get in touch with your Sales Manager if you have any queries about our products and/or services or in case of any issues regarding our loan application or approval process. You can also contact our Customer Care on the toll-free number available on our website.
One can visit our nearest branch and provide the current address proof for updating the mailing address.
Once can call the call center number 1800-102-102-1 and update the mobile number of email ID.
You will receive the original documents within 14 days from the date of closure of loan
Original property papers are securely stored in fire proof vaults and utmost security is maintained for storage of the original security documents.
Loan can be foreclosed any time soon after disbursal at the discretion of borrower/s
Yes, foreclosure charges/pre-payment penalty would be applicable on the loan basis the Pre-payment clause as mentioned in the loan agreement executed between the borrower and lending institute.
Yes, one can avail top up loan after 12 months of disbursement of the existing loan as per the eligibility norms.