Buying your first home is a major milestone in your life and one of the biggest financial decisions you will ever make. Helpful information combined with the right advice can make a world of difference and assist you in making the ultimate decision.
Summit Bank has a comprehensive range of home loan schemes with solutions for everyone. The value and flexibility that Summit Bank Home Finance offers, complemented by exceptionally personalized service, is what makes it the right choice for you. At Summit Bank, we believe in simplicity & convenience.
Summit Bank Home Finance can be sought to fulfill any of the following needs:
- Buy-a-Home
- Build-a-Home
- Home Renovation
- Purchase of Land & Construction
- Home Debt Consolidation (Balance Transfer Facility)
Features
| Loan Amount | Minimum: Rs.300,000/-
Maximum: Rs.100,000,000/- |
| Loan Tenor | Minimum:1 Yr
Maximum:20 Yrs |
| Mark-up Rate | Salaried: Six Months KIBOR + 400bps
Self Employed Professional: Six Months KIBOR + 450bps Self Employed Businessman: Six Months KIBOR + 500bps
*Mark-up rate to be revised on Six Monthly Basis |
| Down Payment (Equity) | Minimum 15% of Property Value |
| Type of Mortgage | Equitable Plus Token / 100% Registered Mortgage
*as per Lawyer’s advise |
| Insurance | Life & Property Insurance will be mandatory from Bank’s
authorized Insurance Company |
| Balloon Payment Facility | Available |
| Early Settlement Facility | Available |
Note: Subject to other prevailing terms & conditions
Benefits
- Quick & Hassle Free Processing
- Minimum Documentation
- Competitive Rates
Requirements
- Salaried: Age Limit 23 – 60 years
- Self Employed Professional: Age Limit 23 – 65 years
- Self Employed Businessman: Age Limit 23 – 65 years
- Additional documentation