Plot Mortgage

Plot Mortgage

  • What is Plot Mortgage loan?
  • Our plot loan facility can be used for buying a piece of land, on which you can construct your dream home.One of the financial instruments that banks provide are land loan or plot loan. d has always been a way for people to invest in India and land loans provided by All bank of India for the purpose buying a land

  • Feature Of Plot Mortgage
  • 1. Loam Term: The maximum term of your plot loan can be up to 20 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier). 60 years for salaried individuals and 70 years for self-employed individuals

    2. Loan Amount: You can get a plot loan up to 75% of the value of the plot. Your plot loan amount depends on your annual income and ability to repay the loan. You can increase your plot loan amount by adding an earning co-applicant.

    3.Interest Rate & Charges: Your home loan interest rate starts from 10.25%* p.a. Know more about fees and charges (*T&C Apply)

    4. Modes of Repayment: You can pay your plot mortgage Loan EMIs throught.

    • Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
    • Post Dated Cheques (PDCs) - Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)

  • Documents Of Plot Mortgage
  • 1. KYC Documents:-

    ID & Address Proof (Any One Required

    • PAN card (Mandatory, if income is considered for loan eligibility calculation)
    • Valid Passport
    • Voter ID card
    • Driving license
    • Aadhar Card

    Residence Proof (Any One Required)

    • Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
    • Ration card
    • Letter from employer
    • Bank statement /copy of Pass book reflecting address
    • Valid Rent Agreement
    • Sale Deed

    2. Income Documents:-

    Salaried Individuals

    • Salary slips for the last 2 months or salary certificate*
    • Cash Salary – Income details on Company Letterhead
    • Copy of bank statements for the past 3 months (salary account)

    Self-Employed Professional

    • Certificate of qualification for professionals : CA, Doctors or Architects
    • Copy of last two years’ income tax returns, along with computation of income
    • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable.
    • VAT or Service Tax returns or TDS Certificate
    • Bank statement for the last 6 months (Savings account, current account and O/D account)

    Self-Employed Non Professionals

    • Copy of your last two years’ income tax returns, along with computation of income
    • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
    • VAT or Service Tax returns or TDS Certificate/li>
    • Bank statement for the last 6 months (Savings account, current account or an O/D account)

    3. Property Documents:-

    • Allotment letter from builder
    • Agreement of Sale
    • Registration and stamp duty receipt
    • Index- ii
    • NOC from builder
    • Own Contribution Receipt (OCR )
    • All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
    • Development Agreement
    • Tripartite Agreement
    • Partnership Deed
    • Sale Deed
    • Title Search Report
    • NA order