May 23
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Chennai Home Loan
Chennai was formerly known as Madras, this 369-year-old city is the capital of the southern state of Tamilnadu and is India’s sixth-largest city in terms of population. It serves as one of the main gateways to South India and has a thriving local culture and art scene and is one of the major destinations for medical tourism. It is considered as one of the world’s fastest-growing cities.
Documentation needed to apply for a Chennai Home Loan
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Processing fee cheque
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary – slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Chennai Home Loan Interest Rates
Chennai Home Loan Details
| Interest Rate (Monthly reducing balance) | 10% – 10.5% |
| Processing Fees | 0.50% of Loan |
| Loan Tenure | 1 year to 20 – 30 years |
| Partial pre-payment Charges | Nil |
| Pre-closure Charges | Nil |
