Read on to know more about Sundaram housing
loans
Sundaram Home Finance Limited
The south-based Sundaram Home Finance Limited was launched on July 2, 1999, by Sundaram Finance Limited, with equity participation from International Finance Corporation (IFC), Washington and FMO, Netherlands. After consolidating its business in the south, Sundaram Home Finance has made forays in the Northern states of India as well. Sundaram home loans are offered for purchase or construction of any residential house or flat. Go through the following lines to find out information on the housing loans provided by Sundaram Home Finance Limited.
Sundaram Housing Loans
Features
- Sundaram Home Loan can be availed for constructing a home on your plot of land, to purchase an apartment from a builder or from a Statutory Authority.
- You can also avail home loan from the company, in case you want to purchase a bungalow/apartment on a second hand basis.
- The maximum loan amount can be Rs. 1 Crore or 85% of the agreement value, whichever is less.
- The tenure of the home loan can be 20 years or retirement age, whichever is earlier.
- Sundaram also provides Home Improvement Loans to individuals for carrying out internal and external repairs to an existing home. The maximum loan amount can be Rs.1 crore or 70% of the agreement value, whichever is less. The term of the home loan can be 10 years or retirement age, whichever is earlier.
- In case you want to purchase land for the construction of residential units, then you can avail of the product. The maximum loan amount, in this case, can be Rs.1 Crore or 50% of the agreement value, whichever is less. The tenure of the land loan can be 15 years or retirement age, whichever is earlier.
- Sundaram also provides loans against existing residential properties. The maximum loan amount can be Rs.25 lakhs or 50% of the value whichever is less. The maximum term of repayment for salaried professionals is 10 years or retirement age whichever is earlier.
Eligibility
- The applicant should be salaried or self employed. He/she should have adequate financial strength, to repay the loan.
- The applicant can invite his/her relatives to become the co-applicants of the loan, with the consent of the company.
- Non Resident of India (NRI) or Person of Indian Origin (PIO) is also eligible for availing a home loan from the company. In both the cases, the individual should be salaried or self employed.
- Loan provided to NRI or PIO will be governed by the regulations of FEMA Act and the guidelines provided by the Reserve Bank of India (RBI), for the same.
Documents
For Salaried Applicant
- Latest Salary Slip
- Form 16 or Latest Income Tax Return
- Bank Statement for the last six months
- Age, Residence Address And Identity Proof
For Self-Employed Applicant
- An Account Of Profit And Loss for the last three years
- Income Tax Returns for the last three years
- Bank Statement for the last six months
- Age, Residence Address And Identity Proof
