Tamil Nadu Grama Bank Home Loan Interest Rate at Upto Rs. 30 lakh: 8.60%
Above Rs. 30 lakh: 8.70%
| INTEREST RATE | Upto Rs. 30 lakh: 8.60% Above Rs. 30 lakh: 8.70% |
| LOAN TENURE | 30 Years |
| PROCESSING FEE | 0.60 % of limit sanctioned |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | Nil |
Calculate Tamil Nadu Grama Bank Home Loan EMI Calculate EMI Now
About Tamil Nadu Grama Bank
Tamil Nadu Grama Bank is a gramin bank in india established on 04-01-2019. It has headquarter in Salem and address is No. 6, Yercaud Road Hasthampatty, Salem 636007. it has 0 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.
Tamil Nadu Grama Bank Home Loan Interest Rates, Housing Loan at and 8.60% to 8.70% Updated on February 2024. Apply for Home Loan Online. Find Tamil Nadu Grama Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Tamil Nadu Grama Bank Home Loan?
- Tamil Nadu Grama 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 Tamil Nadu Grama Bank offers timely assistance to the customers
Tamil Nadu Grama Bank Home Loan Purpose
For purchase or construction or additional construction of house or flatTamil Nadu Grama 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.
Tamil Nadu Grama 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 Tamil Nadu Grama 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.
Tamil Nadu Grama Bank Home Loan Amount
36 Times Gross Monthly Income60 Times Net Monthly Income (whichever is higher )
Margin
- Upto Rs. 25.00 lakh: 10%
- Above Rs. 25.00 lakh upto Rs. 75.00 lakh: 20%
- Above Rs. 75.00 lakh: 25%
Tamil Nadu Grama Bank Home Loan Repayment
Max 30 Years including Holiday periodRepayment starts after 12 months of holiday period or completion of construction whichever is earlier
Security
Mortgage of the property constructed | purchased.In Case of Prepayment of Tamil Nadu Grama Bank Home Loan, will EMI change?
One can pre-pay Tamil Nadu Grama 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 Tamil Nadu Grama Bank, Tamil Nadu Grama Bank SMS balance check number SMS banking, Tamil Nadu Grama Bank mobile banking, Tamil Nadu Grama Bank toll free number,Tamil Nadu Grama Bank toll free number 24*7, Tamil Nadu Grama Bank miss call number.
- CONTACT NUMBERS - 0427-2522900, 0427-2522970
Tamil Nadu Grama Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.tamilnadugramabank.com/
- CONTACT NUMBERS - 0427-2522900, 0427-2522970
- EMAIL ID - [email protected]
- TOTAL BRANCHES - 0
- HEADQUARTER - Salem
- BANK ADDRESS - No. 6, Yercaud Road Hasthampatty, Salem 636007
Tamil Nadu Grama Bank Home Loan FAQs Home Loan Document Required
