Home Finance | Summit Bank

Home Finance

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

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Last Updated 2017-11-09


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