Home Loan Eligibility Criteria for Puduvai Bharathiar Grama Bank
Before you apply, it's important to understand the eligibility conditions. Puduvai Bharathiar Grama Bank evaluates applications based on income stability, credit profile, and repayment capacity.
| Eligibility Factor |
Details |
| Applicant Type |
Salaried individuals, self-employed professionals, agriculturists |
| Minimum Age |
21 years |
| Maximum Age at Loan Maturity |
65 years |
| Income Criteria |
Stable and verifiable income from approved sources |
| Credit Score |
Preferably 650 or above |
| Employment Status |
Government, private salaried, self-employed, rural income sources |
| Loan Tenure |
Up to 20–30 years, based on eligibility |
| Repayment Capacity |
Based on monthly installment affordability |
Tip: You can check eligibility before applying to ensure faster approval.
Home Loan Schemes Offered by Puduvai Bharathiar Grama Bank
The bank provides multiple housing loan schemes to cater to diverse housing needs:
| Available Housing Loan Schemes |
Description |
| Home Purchase Loan |
For buying a new or resale residential house or flat. |
| Construction Loan |
Ideal for individuals planning to construct a house on owned land. |
| Home Improvement / Renovation Loan |
For repairs, extensions, or modernization of existing residential property. |
| Rural Housing Finance Scheme |
Specially designed for rural and semi-urban borrowers to promote affordable housing finance. |
| Home Loan for Salaried Person |
Tailored solutions with predictable monthly installment planning and longer repayment tenure. |
These schemes are structured to support low-interest home loan options while ensuring financial sustainability.
Documents Required for Puduvai Bharathiar Grama Bank Home Loan
Submitting accurate and verified income documents helps speed up the approval process. Below is a general checklist:
| Document Category |
Required Documents |
|
Identity Proof
|
Aadhaar Card, PAN Card, Voter ID
|
|
Address Proof
|
Aadhaar Card, Utility Bills, Ration Card
|
|
Income Proof (Salaried)
|
Salary slips (last 3–6 months), Form 16
|
|
Income Proof (Self-Employed)
|
ITRs (last 2–3 years), audited financials
|
|
Bank Statements
|
Last 6 months statements
|
|
Property Documents
|
Sale agreement, title deed, approved plan
|
|
Photographs
|
Passport-size photographs
|
These are standard documents required for housing loan processing; additional documents may be requested based on the case.
Loan Processing Fees & Other Charges
Puduvai Bharathiar Grama Bank follows a transparent fee structure:
- Processing fee: As per bank norms (often minimal for rural housing finance)
- Documentation charges: Actuals, if applicable
- Legal & valuation charges: Based on property assessment
- Prepayment / foreclosure charges: As per RBI guidelines
- Late payment charges: Applicable on delayed monthly installment
Always confirm current charges at the branch before you apply now.
Tax Benefits on Home Loan in India
Borrowers can enjoy attractive tax benefits on home loan in India, making home ownership more affordable:
Section 80C:
Deduction up to ₹1.5 lakh on principal repayment.
Section 24(b): Deduction up to ₹2 lakh on interest paid for self-occupied property.
Section 80EE / 80EEA (if applicable):
Additional interest benefits for first-time homebuyers under eligible schemes.
These tax advantages significantly reduce the effective home loan interest rate over the loan tenure.
Why Choose Puduvai Bharathiar Grama Bank for Home Purchase Financing?
- Strong regional presence and local expertise
- Focus on rural housing finance and affordable housing finance
- Simple home loan process with personal assistance
- Flexible repayment tenure and borrower-friendly policies
- Trusted banking partner with transparent practices