Odisha Gramya Bank Home Loan Interest Rate at 9% onwards
| INTEREST RATE | 9% onwards |
| LOAN TENURE | 20 Years |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Please Contact Bank Branch |
| PRE CLOSURE CHARGES | As per bank's discretion |
Calculate Odisha Gramya Bank Home Loan EMI Calculate EMI Now
About Odisha Gramya Bank
Odisha Gramya Bank is a gramin bank in india established on 01-07-2013. It has headquarter in Bhubaneshwar and address is AT - Gandamunda, PO - Khandagiri Jagamara-Sundarpada Road, Bhubaneswar, Dist - Khurda, Odisha, Pin - 751030, Odisha. it has 955 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.
Odisha Gramya Bank Home Loan Interest Rates, Housing Loan at and 9% Updated on February 2024. Apply for Home Loan Online. Find Odisha Gramya Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Odisha Gramya Bank Home Loan?
- Odisha Gramya 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 Odisha Gramya Bank offers timely assistance to the customers
Odisha Gramya Bank Home Loan Purpose
Construction of new house & expansion|addition to existing house.Purchase of flat | house from Public Housing Agencies | Registered | Reputed Builders.
Purchase of old houses (not more than 15 years old) from third parties in approved layouts.
Repair and Renovation of existing residential House
Odisha Gramya 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.
Odisha Gramya 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 Odisha Gramya 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.
Odisha Gramya Bank Home Loan Amount
Maximum Term Loan under the scheme is 80% of the cost of estimate in case of new construction subject to an upper ceiling of Rs 100.00 lakhs.For up-gradation | repair | remodeling of existing house is concerned, maximum Term Loan is 80% of the cost of up-gradation | improvement subject to a ceiling of Rs 10.00 lakhs.
Margin
Margin is minimum 20% of cost of construction | cost of house | cost of up-gradation |improvementOdisha Gramya Bank Home Loan Repayment
Maximum 240 EMIsSecurity
Bank's Mortgage Charge on land and Building as prime security Minimum 10% of loan amount as liquid collateralsIn Case of Prepayment of Odisha Gramya Bank Home Loan, will EMI change?
One can pre-pay Odisha Gramya 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
Note : Maximum Term Loan under the scheme is 80% of the cost of estimate in case of new construction subject to an upper ceiling of Rs 100.00 lakh. For up-gradation | repair | remodeling of existing house is concerned, maximum Term Loan is 80% of the cost of up-gradation | improvement subject to a ceiling of Rs 10.00 lakh
Contact details of Odisha Gramya Bank, Odisha Gramya Bank SMS balance check number SMS banking, Odisha Gramya Bank mobile banking, Odisha Gramya Bank toll free number,Odisha Gramya Bank toll free number 24*7, Odisha Gramya Bank miss call number.
- MISSED CALL NUMBERS - 8010106686
- CUSTOMER CARE NUMBERS - 0674-2353029
- CONTACT NUMBERS - 0674-2353029, 0674-2353242
Odisha Gramya Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.odishabank.in
- CONTACT NUMBERS - 0674-2353029, 0674-2353242
- EMAIL ID - [email protected], [email protected]
- MISSED CALL NO. - 8010106686
- CUSTOMER CARE NO. - 0674-2353029
- TOTAL BRANCHES - 955
- HEADQUARTER - Bhubaneshwar
- BANK ADDRESS - AT - Gandamunda, PO - Khandagiri Jagamara-Sundarpada Road, Bhubaneswar, Dist - Khurda, Odisha, Pin - 751030, Odisha
Odisha Gramya Bank Home Loan FAQs Home Loan Document Required
