What all are the documents that need to be submitted for availing the loan?
  • 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
What is EMI? How is it calculated?

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.

What all are the different payment modes for EMI?

Repayment can be made by way of PDCs/ECS/ACH

What is monthly reducing balance?

Home loans are usually calculated on monthly reducing balance. In this system, the principal, reduces every month as you pay your EMI.

What are the repayment periods for home loans?

Repayment period for Home Loans normally range from 1 to 20 years.

Who is eligible for Home Loan?
  • 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
Who can be a Co-applicant?

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.

What is the difference between carpet area, built up area, super built up area?
  • 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.
What is a fixed rate of interest?

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.

What is a floating rate of interest?

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.

What is Semi-fixed rate of interest?

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.

What is Pre-EMI 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.

What is the processing fee? Is it refundable?

It is the fee payable towards processing of the loan application. Processing Fee is non-refundable in nature

What is the Pre-payment Penalty?
  • 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.
What are the repayment period options?

Repayment period options range from 5 to 20 years.

What is the security required for home loans?

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.

Do I require a guarantor to get a home loan?

No, Guarantor is not generally required, except in few specific cases where it is specified in the sanction letter.

What is the right time to apply for a home loan?

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.

What is the time required for home loan application approval?

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

What is the time required for home loan disbursement?

On an average, loans are disbursed within 3-5 working days after satisfactory and complete documentation

What is Part Disbursement?

Part disbursement is disbursement of home loan in tranches as demanded by builder based on the stage of construction

What are the tax benefits of home loans?

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.

Whom should I contact in case of any problem or if I have a query?

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.

What is the process of updating my new mailing address?

One can visit our nearest branch and provide the current address proof for updating the mailing address.

How can I update my email address and mobile number registered under my Home Loan account?

Once can call the call center number 1800-102-102-1 and update the mobile number of email ID.

When will I get my original documents after I foreclose my loan?

You will receive the original documents within 14 days from the date of closure of loan

Where are the original property papers stored?

Original property papers are securely stored in fire proof vaults and utmost security is maintained for storage of the original security documents.

Can the Loan be foreclosed ahead of schedule?

Loan can be foreclosed any time soon after disbursal at the discretion of borrower/s

Are there any foreclosure charges?

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.

Can I avail additional loan through my existing loan account?

Yes, one can avail top up loan after 12 months of disbursement of the existing loan as per the eligibility norms.