Housing Loan

Housing Loan

Turn your dream of owning a home into reality with APCOB Bank’s Housing Loan. We offer flexible terms, competitive interest rates, and a hassle-free application process. Discover how we can help you achieve homeownership – inquire about our housing loan options today.

Eligibility
  • Home loans are eligible for both salaried and self-employed borrowers.
  • The age of the applicant should be between 21 and 65 years as on the date of application.
  • Minimum CIBIL score of the borrower should be 650
  • Good income and employment profile.
Features & Benefits

Maximum loan amount ₹75.00 lakh

Long term repayment upto 360 months/ up to the age of 75 years whichever is earlier.

The income of the spouse as co-applicant will also be considered for arriving the loan eligibility.

Low processing charges. Lowest EMI

No other charges except processing charges

Repayment will start 3 months after release of final instalment in case of House/Flat construction or 12 months from release 1st instalment whichever is earlier.

Documents Required
List Of Valid KYC Documents For Account Opening
KYC Documents of the customer
  • Aadhar, PAN Driving License Gas Bill Electricity Bill
  • 3 Passport size photographs
  • Residential address proof

Rate Of Interest

Floating Rate Of Interest
Type
Upto 30.00 lakh
Above 30.00 lakh
High
10.50%
10.70
Moderate
9.50%
9.75%
Medium
9.40%
9.50%
Low
9.00%
9.20%
Fixed Rate Of Interest
Upto 30 Lakhs
Above 30 Lakhs
11%
11.20%
Security
  • Registered Mortgage by depositing Original Title Deeds and all Link documents of the property against which Housing loan is sanctioned fully securing the Bank’s interest
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    FAQs

    What is a housing loan or mortgage?

    A housing loan, often referred to as a mortgage, is a type of loan used to finance the purchase of a home. It is secured by the property being purchased.

    What is the difference between a mortgage and a home loan?

    The terms "mortgage" and "home loan" are often used interchangeably. Both refer to the financial arrangement used to buy a home. A mortgage typically specifically refers to the loan agreement, while a home loan can refer to the broader process of borrowing money to purchase a home.

    What are the different types of housing loans?

    There are various types of housing loans, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, and more. Each has its own terms and conditions, which may suit different borrowers' needs.

    What is the down payment for a housing loan?

    The down payment is the initial payment made by the homebuyer when purchasing a property. It is typically a percentage of the property's purchase price. The amount required can vary, but it's commonly around 20% of the home's price.

    What is the interest rate on a housing loan?

    Interest rates on housing loans can vary depending on the type of loan, the lender, and market conditions. Fixed-rate mortgages have a stable interest rate, while ARMs may have variable rates that change over time.