Mumbai a cosmopolitan metropolis, earlier known as Bombay, is the largest city in India and the capital of Maharashtra state. Mumbai was originally a conglomeration of seven islands on the Konkan coastline which over time were joined to form the island city of Bombay.Mumbai is undoubtedly the commercial capital of India and is one of the predominant port cities in the country.
Home loans, also known as mortgages, use the borrower's home for collateral. This home can be a single-family house up to a four-unit property, as well as a cooperative unit. Lenders fund home loans, but both the lenders themselves and brokers who act on behalf of the lenders originate, or process, them.
At least 21 years old
Less than 65 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
EMI limited to about 50%
of monthly income
Loan capped @ 75% - 85% on property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 20 - 30 years
Alternatively add your parents
|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|
JM Financial Limited, which was founded by Nimesh Kampani announced that it will be acquiring a 24.5% stake in India Home Loan Limited on a secondary/preferred allotment basis. JM Financial Products Limited a subsidiary of JM Financial Limited will transfer the entire equity stake in India Home Loan Limited to a fund which will be managed by JM Financial Investment Managers Limited. Mumbai-based India Home Loan Limited is known for providing home loans to families and individuals for affordable housing.
16th December 2016