| 21st October 2016 03:42 PM | |
| shikha | Re: Tamilnad Mercantile Bank Home Loan Eligibility Tamilnad Mercantile Bank provide Home Loan to their customers to purchase land and Construct House or purchase a New House Home Loan Purpose To purchase land and Construct House Purchase a New House Purchase a New Flat Fund the cost of Extension / Renovation Purchase of Old House / Flat Eligibility- Individuals aged between 18 and 50 years. In case of Joint Borrowers, if any one of the applicant's age is below 50, they can avail loan under “TMB - Home” Loan Scheme Jointly. In case of Professionals like Doctors, Engineers, Lawyers, Chartered Accountants etc., the upper age limit may be relaxed up to 60. Loan Quantum- Up to Rs. 300 Lakhs and for Renovation restricted up to Rs. 25 Lakhs. Rate of Interest- Loans Sanctioned w.e.f 01.10.2014. Loans Upto Rs. 30 Lakhs: Upto 60 Months Loan - BR + 0.00% (10.40% p.a.). Above 60 Months Loan upto 15 years - BR + 0.25% (10.65% p.a.). Above 15 Years Loan upto 30 years - BR + 0.50% (10.90% p.a.). Above Rs. 30 Lakhs - BR + 0.50% (10.90% p.a.) Irrespective of Period. Current Base Rate for Lending (BR) is 10.40% p.a. Margin For New Flat - 25% Plot Purchase and Construction of House - 25% Construction of House - 10% Renovation of House below 5 Years Old - 25% Renovation of House above 5 Years Old - 40% Renovation / Purchase of Old Flat - 30% Processing Charges 1.00% of Limit sanctioned without any maximum cap. All India National Toll Free Number: 180 0425 0426 |
| 21st October 2016 03:34 PM | |
| Unregistered | Tamilnad Mercantile Bank Home Loan Eligibility I want to apply Home loan in Tamilnad Mercantile Bank so can you tell me the eligibility criteria to apply for loan? |
