Akola Urban Coop Bank Home Loan Interest Rate at 9.15% to 10.15%
| INTEREST RATE | 9.15% to 10.15% |
| LOAN TENURE | 15 Years |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | Nil |
Calculate Akola Urban Coop Bank Home Loan EMI Calculate EMI Now
About Akola Urban Coop Bank
Akola Urban Coop Bank is a Co-operative bank in india. Akola Urban Coop Bank was founded on 19-04-1963. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Akola Urban Coop Bank which includes Akola Urban Coop Bank Official Website, Akola Urban Coop Bank ATMs accross the India, Akola Urban Coop Bank Branches accross the India, Akola Urban Coop Bank Contact Numbers, Akola Urban Coop Bank official EmailID, Akola Urban Coop Bank Headquarter and Akola Urban Coop Bank Headquarter Address. Find Akola Urban Coop Bank Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Akola Urban Coop Bank Home Loan?
- Akola Urban Coop Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Akola Urban Coop Bank offers timely assistance to the customers
Akola Urban Coop Bank Home Loan Purpose
Provides housing loan to eligible persons for construction of house/flat and renovation of existing house/flat.Akola Urban Coop Bank Home Loan Eligibility
- The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
- The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
- The applicant must be salaried or self-employed with a regular income.
- The applicant must earn more than the minimum required income.
Akola Urban Coop Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Akola Urban Coop Bank Home Loan
There are two types of tax benefits associated with home loan for Resident Indians:
Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).
Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.
Akola Urban Coop Bank Home Loan Amount
Maximum upto Rs.25 Lakh which mainly depends upon the income of the applicant.Margin
25-30% margin towards the cost of house/ flatAkola Urban Coop Bank Home Loan Repayment
Maximum period of 15 yearsSecurity
The mortgage of the house/ flat so constructed/ purchased is taken along with third party guarantee of two regular members acceptable to the Bank.In Case of Prepayment of Akola Urban Coop Bank Home Loan, will EMI change?
One can pre-pay Akola Urban Coop Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.
How to reduce your Home Loan EMI?
- Negotiate with your banker on lower interest rate
- Apply for longer tenure
- Give maximum amount as down payment
- Pre-pay loan amount
- Switch to another bank/ FI offering lower interest rate
Contact details of Akola Urban Coop Bank , Akola Urban Coop Bank SMS balance check number SMS banking, Akola Urban Coop Bank mobile banking, Akola Urban Coop Bank toll free number,Akola Urban Coop Bank toll free number 24*7, Akola Urban Coop Bank miss call number.
- CUSTOMER CARE NUMBERS - 0724-2453850
- CONTACT NUMBERS - 0724-2453850 to 54, Fax : 0724-2453861
Akola Urban Coop Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.akolaurbanbank.com
- CONTACT NUMBERS - 0724-2453850 to 54, Fax : 0724-2453861
- EMAIL ID - [email protected], [email protected]
- CUSTOMER CARE NO. - 0724-2453850
- TOTAL BRANCHES - 31
- HEADQUARTER - Nagpur
- BANK ADDRESS - 58/59 Toshniwal Layout, Near Milk Dairy, Murtijapur Road, Akola, Maharashtra. Pincode-444001
Akola Urban Coop Bank Home Loan FAQs Home Loan Document Required
