




✔ Minimum Income Requirements
✔ Avail of loans with a combined monthly income of Rs. 8,000/Rs. 10,000
✔ 85% Property Value Loan
✔ For loans upto Rs. 28,00,000
✔ Minimum - Rs. 1,00,000
✔ Maximum - Rs. 28,00,000
✔ Floating Rate Loan: Nil
✔ Fixed Rate Loan: 2% of outstanding principal/amount prepaid
Asha Home Loan Features and Benefits
Terms and conditions
Asha Home Loan Eligibility and Documentation
Individuals with a combined income of Rs. 8,000 or above.Minimum combined income of Rs.8, 000pm. Salaried, Professionals & self employed individuals.
Asha Home Loan | |
---|---|
Minimum loan amount | Minimum: Rs 1 Lac |
Maximum loan amount | Maximum: Up to Rs. 28 Lacs |
Borrowing Limits
Keep your documents ready
Document Needed | Salaried | Self Employed |
---|---|---|
Proof of identity | Valid passport/Voter’s ID/Valid Driving license with photo graph /Pan card /Aadhar card | |
Proof of Income | Latest 3 months salary slip / certificate for fixed salary/Latest Form 16 -and- Last 6 months bank statement/Passbook of the salary account | IT- returns for the last 2 years along with computation of income certified by CA -and- Last 6 months Bank statement for operative account both personal and business. |
Proof of Residence | Latest Electricity bill/ utility bill/ piped gas bill/ telephone bill/ Passport/(Not more than 2 months old), Passport/Aadhar card/ Voter ID/ Driving License. |
Asha Home Loan Interest Rates and Charges
Floating Rate of Interest | MCLR plus Mark-up | Effective Interest Rate (p.a) |
---|---|---|
Salaried customers (Vanilla Variant) | MCLR + 1.60% | 9.75% p.a |
Self Employed customers (Vanilla Variant) | MCLR + 1.80% | 9.95% p.a |
Salaried customers (All other variant) | MCLR + 2.35% | 10.50% p.a. |
Self-Employed (All other variant ) | MCLR + 2.35% | 10.50% p.a. |
Marginal Cost Based Lending Rate - 8.15% MCLR Reset frequency for Home Loans - Half Yearly Base Rate - 9.00% Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR. |
Other Charges**
Description of charges | Amount (Rs.) |
---|---|
Processing Fee Charges | Up to 1% of the Loan amount subject to minimum of Rs.10,000/- |
Penal Interest Rate | @24 % per annum, 2% per month |
Switching Fees (Base Rate/BPLR to MCLR)# |
|
Switching Fees (Floating Rate to Fixed Rate)# | 1% on the outstanding principal with a minimum of 10,000/- |
Switching Fees (Fixed Rate to Floating Rate)# | 2% on the outstanding principal amount |
Switching Fees (Higher Floating Rate to Lower Floating Rate )# | Switching Fees (Higher Floating Rate to Lower Floating Rate )# |
Switching Fees (Higher Floating Rate to Lower Floating Rate )# | 0.5% on outstanding principal with minimum of `10,000/-The lower rate will be equal to the applicable carded interest rate only |
Repayment Instruction/Cheque Return charges | 500/- Per Instance |
Cheque/Instrument Swap Charges | 500/- Per Instance |
Duplicate Statement Issuance Charges | 250/- Per Instance |
Duplicate Amortization Schedule Issuance Charges | 250/- Per Instance |
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | 250/- Per Instance |
Issuance Charges of Credit Report | 50/- Per Instance |
Issuance Charges for Photocopy of title documents | 250/- Per document set |
Charges on customer initiated requests for copies of documents | 250/- Per document set |
Prepayment Charges including part prepayment for floating rate loan | NIL |
Prepayment Charges for fixed rate loan | 2% of the principal outstanding |
Equitable Mortgage Creation Charges As applicable in the | As applicable in the state |
CERSAI charges | Rs 50/- For Loans up to 5 Lakhs Rs 100/- For Loans above 5 Lakhs |
# For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed portion of sanctioned amount.
** Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
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