Bangiya Gramin Vikash Bank Home Loan Interest Rate at 8.25%
| INTEREST RATE | 8.25% |
| LOAN TENURE | 20 Years |
| PROCESSING FEE | 0.50% of the Loan Amount, subject to minimum Rs 1,000 and maximum Rs 10,000 |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | As per bank's discretion |
Calculate Bangiya Gramin Vikash Bank Home Loan EMI Calculate EMI Now
About Bangiya Gramin Vikash Bank
Bangiya Gramin Vikash Bank is a gramin bank in india established on 21-02-2007. It has headquarter in Berhampore and address is BMC House, Chuanpur, NH 34, Chaltia, PO Berhampore Dist Murshidabad - 742 101. it has 592 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Bangiya Gramin Vikash Bank Home Loan Interest Rates, Housing Loan at and 8.25% Updated on February 2024. Apply for Home Loan Online. Find Bangiya Gramin Vikash Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Bangiya Gramin Vikash Bank Home Loan?
- Bangiya Gramin Vikash 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 Bangiya Gramin Vikash Bank offers timely assistance to the customers
Bangiya Gramin Vikash Bank Home Loan Purpose
- For purchase/construction/extension/ repairs /renovations/furnishing of residential house/ flat including the purchase of land and construction thereon.
- Supplementary finance to complete the project financed by the employer.
- Takeover of the Housing Loan from other Banks/Housing Finance Companies, Housing Boards.
- Purchase/take-on of long term lease (min. 10 yrs) of house/flat from Govt. Bodies/PSUs (unexpired lease period should exceed at least 5 years than repayment period of loan).
- For purchase/construction of 2nd house/ flat.
- Purchase of old house/ flat not old over 35 years from the date of completion of construction.
Bangiya Gramin Vikash 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.
Bangiya Gramin Vikash 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 Bangiya Gramin Vikash 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.
Bangiya Gramin Vikash Bank Home Loan Amount
In case of individual singly-Max. Rs 30 lakhs & In case wife is a co borrower- Max. Rs. 50 lakhsMargin
Minimum 15% of total project costBangiya Gramin Vikash Bank Home Loan Repayment
Max. Period of 20 years and tenure is fixed on the basis of age of 1st applicant (whose income contributes major part in recovery) and remaining age of old property.For salaries person, the loan shall be repaid within superannuation and for professional & self employed person, within the age of 65 years.
Flexible Repayment Option: Step-up EMI, Step-down EMI & Lower EMI with lump sum payment at a certain point of time.
Security
Mortgage of the property to be acquired and hypothecation of movable assets financed by the Bank for furnishing the house/flat. Bank may also ask for additional security in the form of Bank's own Term Deposit, LIC Policy (by surrender value), NSC, KVP, Relief Bond etc acceptable to the Bank after proper verification to the extent of 10% to 20% of the loan or Personal Guarantee of one or two persons having worth of 125% of the loan amount and acceptable to the bank shall be required.In Case of Prepayment of Bangiya Gramin Vikash Bank Home Loan, will EMI change?
One can pre-pay Bangiya Gramin Vikash 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 Bangiya Gramin Vikash Bank, Bangiya Gramin Vikash Bank SMS balance check number SMS banking, Bangiya Gramin Vikash Bank mobile banking, Bangiya Gramin Vikash Bank toll free number,Bangiya Gramin Vikash Bank toll free number 24*7, Bangiya Gramin Vikash Bank miss call number.
- CUSTOMER CARE NUMBERS - 18001032222
- CONTACT NUMBERS - 18001032222
Bangiya Gramin Vikash Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.bgvb.co.in
- CONTACT NUMBERS - 18001032222
- EMAIL ID - [email protected]
- CUSTOMER CARE NO. - 18001032222
- TOTAL BRANCHES - 592
- HEADQUARTER - Berhampore
- BANK ADDRESS - BMC House, Chuanpur, NH 34, Chaltia, PO Berhampore Dist Murshidabad - 742 101
Bangiya Gramin Vikash Bank Home Loan FAQs Home Loan Document Required
