Jammu And Kashmir Grameen Bank Home Loan Interest Rate at - 9.20% to 9.30% p.a: upto Rs 50 lakh
- 9.35% to 9.45% p.a.: above Rs 50 lakh to Rs. 75 lakh
- Above Rs. 75 Lakh: 9.65%
| INTEREST RATE |
|
| LOAN TENURE | 20 Years |
| PROCESSING FEE | 0.25% of the Loan Amount 50% of Concession in Processing Charges for Female Borrowers (Site/ Joint Borrowers) |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | As per bank's discretion |
Calculate Jammu And Kashmir Grameen Bank Home Loan EMI Calculate EMI Now
About Jammu And Kashmir Grameen Bank
Jammu And Kashmir Grameen Bank is a gramin bank in india established on 30-06-2009. It has headquarter in Jammu and address is Near Fruit Complex, Narwal, Jammu - 180 006, Jammu & Kashmir. it has 132 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.
Jammu And Kashmir Grameen Bank Home Loan Interest Rates, Housing Loan at and 9.20% - 9.65% Updated on February 2024. Apply for Home Loan Online. Find Jammu And Kashmir Grameen Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Jammu And Kashmir Grameen Bank Home Loan?
- Jammu And Kashmir Grameen 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 Jammu And Kashmir Grameen Bank offers timely assistance to the customers
Jammu And Kashmir Grameen Bank Home Loan Purpose
- For construction/ purchase of built House/ flat
- For repairs/ renovation/ extension/ addition
- For purchase of a plot of land for construction of dwelling house
Jammu And Kashmir Grameen 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.
Jammu And Kashmir Grameen 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 Jammu And Kashmir Grameen 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.
Jammu And Kashmir Grameen Bank Home Loan Amount
i. For construction| purchase of Built House| Flat - 60 months net salary| income OR Rs.30.00 Lakh, whichever is lower. (In case of pensioners, it shall be 36 times of the gross monthly pension). ii. For repair renovation| extension| addition - 24 months net salary| income or Rs.7.00 Lakh, whichever is lower. iii. For purchase of Plot for construction of dwelling house - 24 months net salary| income or Rs.6.00 Lakh whichever is lower.Margin
25% of the project cost.Jammu And Kashmir Grameen Bank Home Loan Repayment
The loan along-with interest shall be repayable in 5 years to 20 years in equal monthly installments after the initial moratorium period. Maximum moratorium period shall be 6 months for construction of house, 2 months for purchase of built house and 3 months for repairs| addition| renovation.Security
Primary: Mortgage of House| Property to be constructed| purchased along-with the land underneath and appurtenant thereto it.Collateral: Third party guarantee of one person of sound financial net means, good for the loan amount & acceptable to Bank.(For loans up to Rs.2.00 lacs only, negative lien on the house property with power of attorney to sell the same in case of default instead of mortgage)
In Case of Prepayment of Jammu And Kashmir Grameen Bank Home Loan, will EMI change?
One can pre-pay Jammu And Kashmir Grameen 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 Jammu And Kashmir Grameen Bank, Jammu And Kashmir Grameen Bank SMS balance check number SMS banking, Jammu And Kashmir Grameen Bank mobile banking, Jammu And Kashmir Grameen Bank toll free number,Jammu And Kashmir Grameen Bank toll free number 24*7, Jammu And Kashmir Grameen Bank miss call number.
- CUSTOMER CARE NUMBERS - 18005729964, 7051510170, 7051510173
- CONTACT NUMBERS - 18005729964, 7051510170, 7051510173
Jammu And Kashmir Grameen Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.jkgb.in
- CONTACT NUMBERS - 18005729964, 7051510170, 7051510173
- EMAIL ID - [email protected]
- CUSTOMER CARE NO. - 18005729964, 7051510170, 7051510173
- TOTAL BRANCHES - 132
- HEADQUARTER - Jammu
- BANK ADDRESS - Near Fruit Complex, Narwal, Jammu - 180 006, Jammu & Kashmir
Jammu And Kashmir Grameen Bank Home Loan FAQs Home Loan Document Required
