Andhra Pradesh - Vijayawada   

Dream house: a reality

Most Home loans help one build or buy a home and stop at that. An ING Vysya protected Home Loan makes sure one's house is a permanent home for him and his family. Simply by ensuring that it remains with his family. Come what may.

Homes forever only with Protected Home Loans

For the very first time, one can get free life insurance for his full loan term and for the full loan amount. In the event of something unfortunate happening to the owner, not only will the loan amount be paid off, his family will also receive the principal amount that has already been repaid on the loan. The ING Vysya Home Loan has been carefully and thoughtfully designed, it's flexible, it's sensitive, it's so convenient.

Free life insurance to the extent of the full term for the full loan amount. Free property insurance for the first year. Scheme for 100% funding available*

Finance including stamp duty, registration fee, power & water deposits etc. Fixed rate and floating rate options available. Quick & hassle-free approval even before you identify a house/flat, whereby you can make a wise choice. Nominal processing fee (to cover incidental costs only)

Nil penalties for pre-payments. No hidden costs. No guarantors or additional security required. Flexible disbursement with moratorium for construction. Free credit card. Free international debit card, free opening of a demat account and free Bill Pay facility. Nil commission for 2 DDs upto a limit of Rs.10, 000/- per instrument per month (Available with Orange SB Account)

The Purpose: Purchase of a plot. Construction. Composite loan (purchase of a site + construction). Purchase of a new house/flat.

Purchase of a used house/flat

Extension of an existing house or up gradation of an existing property. Composite loan (purchase of a house/flat + extension/up gradation) Balance transfer from other banks/housing finance companies.

Eligibility Criteria: A resident Indian citizen, who is over 21 years of age at the beginning of the loan and below 65 at its maturity, can avail of the loan. Salaried employees, self-employed, professionals and self-employed businessmen can apply in their individual capacity. Immediate family members can join as co-applicants and their incomes can be aggregated to enhance the loan eligibility.

100% finance and 0% stress: The maximum margin that one needs to contribute out of his own sources would be 15%. One would also be eligible for 100% finance provided he furnishes security of approved liquid securities (viz., fixed deposit receipts, Government Securities, NSC, KVPs, Life Insurance Policies (surrender value) etc. may be accepted as security). Homes, in your interest The rate of interest would be fixed from time to time depending upon the market conditions. The interest is calculated at daily rests. One can choose a floating rate or fixed rate loan.

The floating rate loan: The interest rate is linked to a dynamic market offer rate i.e. MIBOR. The bank would reset the interest rate, every quarter and the benefit would be passed on to the loan.

The fixed rate loan: The interest rate is constant over the loan tenure (offered for a period of 5 years only). Do verify the actual rates applicable as on the date of application. One can switch over from a fixed rate to a floating rate or vice versa, by paying a conversion charge.

Pre-approval documents to be furnished along with the Application Form: Cheque towards processing fee. One passport size photograph of the applicant and all co-applications in addition to the photograph affixed to the application form and signed across. Photo identity & signature proof. Proof of residential address. Signature verification certificate from the bank on which PDCs are to be given. Proof of date of birth.

Income proof of the latest salary slip/2 year's ITRs as the case maybe. Bank account statements for all paying applicants for the last 3 months for salaried employees and for 6 month for the self-employed. Credit Card statements, if any, for the latest month. Statements of all other loan accounts, if any. A checklist of property documents required for legal clearance will be called for, after the loan is approved in principle and the property is actually selected. No EMIs till one's home is all ready. In the event of part disbursals in stages, particularly for a property under construction, the applicant will pay pre-EMI interest on the quantum of loan already disbursed from the date of disbursal till the time of completion of disbursement, completion of construction or expiry of repayment holiday, whichever occurs first.

The sooner one gets his home the better! Avert huge rental expenditure and go on to avail tax exemptions under the sections of Indian Income Tax Act, 1961.

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