Eligibility Criteria for Punjab Gramin Bank Home Loan
| Criteria |
Details |
| Citizenship & Residency |
Applicant must be an Indian citizen and a resident of Punjab |
| Age |
Minimum age: 21 years at the time of loan application
Maximum age at loan maturity: 65 years |
| Applicant Type |
Salaried individuals, self-employed professionals, agriculturists, and business owners are eligible |
| Income |
Stable and verifiable source of income |
| Credit History |
Satisfactory credit history and repayment capacity |
| Property Location |
Property should be located within Punjab |
| Co-applicant |
Co-applicant (spouse or close family member) may be required in certain cases |
Punjab Gramin Bank Home Loan Schemes
Punjab Gramin Bank offers multiple housing loan schemes to cater to diverse customer needs. Some of the commonly available options include:
Home Purchase Loan: For buying a new or resale residential house or flat
Home Construction Loan: For constructing a house on an owned residential plot
Home Renovation / Improvement Loan: For repairs, extensions, or upgrades to an existing home
Plot + Construction Loan: For purchasing a residential plot and constructing a house later
Rural Housing Loan: Specially designed for borrowers in rural and semi-urban areas
Aadhar Housing Finance Ltd Home Loan Schemes
Home Loan for Salaried Employees:Up to ₹1 crore with competitive
interest rates starting at 11.75% and tenures up to 30 years.
Home Loan for Self-Employed: Customized loans up to ₹1 crore
with flexible terms for professionals and business owners.
Plot Purchase and Construction Loan: Finance for land purchase
and home construction with tenures up to 30 years.
Home Improvement Loan: Renovation loans up to ₹1 crore for
property enhancements like painting, roofing, and plumbing.
Home Extension Loan: Funds for adding rooms or floors, catering
to growing family needs.
Balance Transfer and Top-Up Loan: Transfer existing loans for
better rates and avail extra funds for personal needs.
Pradhan Mantri Awas Yojana (PMAY): Subsidies up to 6.5% for
eligible first-time homebuyers under the government’s affordable housing initiative.
Documents required for Aadhar Housing Finance Ltd Home Loan
To apply for a home loan with Aadhar Housing Finance Ltd, you will need to provide
specific documents for verification. The requirements vary between salaried and self-employed
individuals. Below is a list:
| Document Type Required Documents |
|
Identity Proof
|
PAN Card, Aadhaar Card, Voter ID, Passport, Driving License,
or Government-issued ID with a photograph.
|
|
Address Proof
|
Utility Bills (Electricity, Water, Gas), Aadhaar Card, Voter
ID, Passport, Driving License, Rent Agreement.
|
|
Income Proof (Salaried)
|
Latest 3 months' salary slips, Form 16, Income Tax Returns
(ITR), and 6 months' bank statements.
|
|
Income Proof (Self-Employed)
|
3 years' ITR, GST registration, Profit & Loss statement,
Balance Sheet, business address proof.
|
|
Property Documents
|
Sale Deed, Title Documents, Approved Building Plan,
Encumbrance Certificate, and NOC from authorities.
|
|
Additional Documents
|
Recent passport-size photos, processing fee cheque, loan
statements (if applicable).
|
Tax Benefits on Aadhar Housing Finance Ltd Home Loan
Principal Repayment (Section 80C) :
Deduction up to ₹1.5 lakh annually for the EMI principal portion.
Interest Payment (Section 24b) : Deduction
up to ₹2 lakh annually for self-occupied property; no limit for let-out property.
First-Time Buyers (Section 80EE) :
Additional deduction up to ₹50,000 for loans sanctioned in 2016-17.
Affordable Housing (Section 80EEA) : Extra
deduction up to ₹1.5 lakh for properties ≤ ₹45 lakh.
Stamp Duty & Registration Charges (Section 80C) :
Deductible within the ₹1.5 lakh Section 80C limit.
Joint Loans : Co-owners can individually
claim benefits under Sections 80C and 24b, doubling tax savings.
Aadhar Housing Finance Ltd Home Loan Processing Fee & Other Charges
Aadhar Housing Finance Ltd offers home loans with a low processing fee, ensuring
affordability and value for customers. The charges are structured transparently and include minimal
costs for application, documentation, legal evaluation, and other essential services. Special
provisions are made to keep fees competitive while maintaining excellent service quality.
Note: For detailed information, visit the official Aadhar Housing Finance Ltd website.