A "low interest" loan shouldn't mean you have very little interest in paying it back!
    Home Loan BYTES FROM OUR KITCHEN

    Vijaya Bank Home Loan eligibility

    Overview:

    Founded in Mangalore in 1931 by late Shri A.B.Shetty, Vijaya Bank was created as an effort particularly to encourage the farming community of Dakshina Kannada district to begin habit of banking, entrepreneurship and thrift. In 1958 the bank became a scheduled bank. During the period of 1963-68, nine smaller banks merged with the Bank resulting in the bank becoming a nation-wide enterprise. In 1980 the bank was nationalized. Today Vijaya Bank’s network consists of 50 Extension Counters, 1786 branches and 1562 ATMs across the nation. The most number of branches is however in Karnataka.

    Home loan can be availed from Vijaya Bank for the following purposes:

    • Purchase of plot and construction of a housing unit on it.
    • Renovation of flat/ house
    • Construction/ Purchase of flat/ house
    • Takeover of housing loans from other Financial Institutions/ Banks

    Vijaya Bank House Loan Eligibility:

    • Applicants between the age of 21 and 65 years can apply for this loan. By the age of 75 years the loan must be fully repaid.
    • There is no upper limit for the loan that an applicant can avail.
    • In order to enhance loan eligibility, applicant can add the income of his/ her children/spouse. Expected rent, income from other sources and depreciation can also be added to enhance the loan eligibility.
    • As security, mortgage of the house/flat that is purchased/ constructed from the amount borrowed can be put up.
    • The margin required for loans up to Rs.75 is 20%. For loans above Rs.75, the margin is 25%. Registration charges and stamp duty is not included in the cost of the project.
    • The repayment period permitted for the home loan is a maximum of 30 years or the borrower becoming 75 years old, whichever comes first. The repayment holiday allowed is a maximum of 18 months.

    FAQs:

    1. I am 60 years old, can I still apply for a home loan from Vijaya Bank?

      Yes. Applicants between the age of 21 and 65 years can apply for this loan. By the age of 75 years however, the loan must be fully repaid.

    2. Can I avail 6 crores from Vijaya Bank as Home Loan?

      Yes. You can avail any amount of money as home loan from Vijaya Bank.

    3. For what purposes can I avail the home loan from Vijaya Bank?

      Home loan can be availed from Vijaya Bank for the following purposes:

      • Purchase of plot and construction of a housing unit on it.
      • Renovation of flat/ house
      • Construction/ Purchase of flat/ house
      • Takeover of housing loans from other Financial Institutions/ Banks
    4. What kind of security will I need for my home loan?

      As security, mortgage of the house/flat that is purchased/ constructed from the amount borrowed can be put up.

    5. What is the maximum repayment period permitted for home loans?

      The repayment period permitted for the home loan is a maximum of 30 years or the borrower becoming 75 years old, whichever comes first. The repayment holiday allowed is a maximum of 18 months.

    reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.