A "low interest" loan shouldn't mean you have very little interest in paying it back!
Nainital Bank offers its customers home loans at attractive interest rates. The interest rates at which the lender offer home loans start at 4.45% p.a. under the Pradhan Mantri Awas Yojana (PMAY) scheme. You can avail a loan of up to Rs.5 crore which can be repaid in a period of 30 years. Nainital Bank also offers subsidy of up to Rs.2.67 lakh on the home loan that is availed under the PMAY scheme.
Key Highlights
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Nainital Bank offers you the Home Loan EMI calculator as well in order to calculate the EMI that you would need to pay after the loan is availed. This is beneficial to gauge your repayment capacity without jeopardizing your monthly budget. All you need to do is enter the loan amount that you are looking to avail, the interest rate charged by the bank and the repayment tenure. Doing this will help you in finalizing the amount that you will be paying as EMIs for the home loan.
Penal interest of 1% shall be charged on the amount in case of default up to 6 months.
Nainital Bank offers loan up to Rs.30 lakh for purchase of land.
The maximum age is 70 years including the repayment of the loan.
The interest rate charged on loan availed under PMAY is 4.45% p.a.
An individual whose more than 50% income is derived from agriculture fall under the category of farmers.
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