LOAN OPTIONS FROM VARIOUS LOANING AGENCIES

 
S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain  Application From

Rate of Interest

1.

House
Building
Advance
(HBA)

AG’s
Branch

2.1 Lac Provided cost of flat is below Rs 37.50 Lacs.

Serving Army
Pers.

Addl Dte Gen of Pers Service
Adjutant General's Branch
Room No. 16, Plot No. 108(W)
IHQ of MoD (Army), Brassey Avenue
Church Road, DHQ PO, ND-110001
ASCON-35062
Ph : 23092975

a) 8.5% p.a. for amount sanctioned upto Rs50,000/- 
b) 10.0% p.a. for amount sanctioned upto Rs1,50,000/- 
c) 11.5% p.a. for amount sanctioned upto Rs2,10,000/-

 

2.5% rebate in the interest  for the following @ .5% for each condition:-
* Making regular payment of HBA.
* Mortgaging flat in favour of President of India within 90 days of taking possession.
* Insurance of  house against risk of fire, flood and lightening.
* Maintaining the house in good repair and pay all the taxes etc.
* Seeking prior permission in case of further mortgage.
A further rebate of 0.5% for adopting small family norms.

             
S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain  Application From

Rate of Interest

2.

House Building
Advance (HBA)

AGIF, Army Group Insurance Fund 60 Lac

All Service Offrs/ JCOs & OR after completion of 2 yrs of services 
(Re-emp Offrs, JCOs/OR are
NOT eligible)#

AGI Bhawan, 
Rao Tula Ram Marg
New Delhi
Ph – 26142749 & 26151031
Through Exch - 508 & 509 
This email address is being protected from spambots. You need JavaScript enabled to view it.

JCOs/OR - 7.5%
Offrs - 8.5%

EXAMPLE OF LOAN TO HAV FROM AGIF

 

Note : Existing Loan in the process of disbursement and last instalment has not yet been taken or EMI has not commenced, then the amount could be increased to the proposed level provided the member has repaying capacity.

# Short Service Commissioned Officers including Women Officers who are commissioned under the revised terms and conditions, and SSCOs who opt for the revised terms and conditions, as per Govt of India letter No B/32313/PC/AG/PS-2(a)/321/D(AG) dated 20 Jul 2006 will be elgible after completion of 3 years of Commissioned Service. In case of SSCOs, the loan amount and interest has to be repaid before 10 years of Commissioned Service. 

*  Max Repayment Period 240 months acutal period upto 6 month prior to date of retirement.
* Processing Fee - Rs 2500/- will be charged upto 8 lac and addl Rs 200/- for every lac or part thereof and maximum Rs 7900/- for loan of Rs 60 lac.
* Monthly reducing balance.
*   Max loan admissible excluding the HBA given by Army HQ (AG’s Branch) will not exceed Rs. 60 Lacs or 50 times the Basic Pay whichever is less.
*  Loan amount will be restricted to the repaying capacity of the individual in the present rank.
*  One time non-refundable addl insurance premium payable for each instalment has been introduced wef 01 Jul 2010 for instalment basis upto the disbursal of last instalment ( for offr Rs 15.84 and JCO/OR Rs 12.50 per lac). 

             

S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain  Application From

Rate of Interest
(Confirm from agency for changes if any)

3. House Building Loan SBI

1. Upto 80% of the cost of DU.

2. 55% of Income as EMI

All AWHO allottees having adequate repaying capacity.

Shalini Bisht Pundir
Branch Manager
State Bank of India,
Ins India Branch, 
Dalhousie Road 
New Delhi 
Phn : 011-23010812, 023794285 

Mr Sanjeev Garg,
Marketing Executive
Mobile No-9871698418 Email id:- This email address is being protected from spambots. You need JavaScript enabled to view it.

C/o State Bank of India, 11 Parliament Street New Delhi-110001, Tel. 011-23407900-02, 

 

For Women Borrowers
Loan Amount  ROI
Upto 75 lacs 10.10% pa
Above 75 lacs 10.25% pa
No fixed rate available in any limit bracket

For Other Borrowers
Loan Amount  ROI
Upto 75 lacs 10.15% pa
Above 75 lacs 10.30% pa
No fixed rate available in any limit bracket

Note: There is no rebate or concession in interest rate in housing loans for DSP account holders. Only waiver of processing fee is applicable for DSP account holders (serving Army Personnel having DSP accounts in SBI) or Defence Pension account holders with SBI.

 

4. House Building Loan HDFC

Upto 85% of the cost of DU.

 

EXISTING CUSTOMERS CAN AVAIL THE TOP-UP LOAN FACILITY.

All AWHO allottees having adequate repaying capacity.

HDFC Ltd, The Capital Court, Munirka, Outer Ring Road, Olaf Palme Marg, New Delhi-110067
Phone: 011-41115111
Ruchi Ahuja @9818327381 

RPLR – 16.30%
HDFC ARYA FOR DEF PERS
  9.30% (RPLR-7%)
 

PROCESSING FEE : RS 2500/- ONLY

OFFER APPLICABLE TILL 31/12/2016 AND FOR LOANS DISBURSED TILL JAN 2017

5. House Building Loan  LIC HOUSING FINANCE LTD 1. Loan Upto 85% of the cost of DU.*

2. Loan Upto 70% of income 
AWHO allottees with sufficient repaying capacity

Contact Person - Mr Ranjit Singh Authorised DSA 8860942631,9268466681 


1. ROI 10.00% *
2. Processing Fee Rs. 5000 /-*
3. No Preclosure Charges*

*Subject to Terms and Conditions and Norms of LICHFL at any given time.
6. House Building Loan Syndicate Bank  90% of total cost of DU if loan amount upto 25 lacs
Or
80% of total cost of DU if loan amount above 25 lacs
All AWHO allottees having adequate repaying capacity Any branch of Syndicate Bank 0-25 Lakhs :10.50%
25-75 Lakhs :10.75%
75 Lakhs n above : 10.90%
7. Home Loan  ICICI Bank Limited  Upto 80% of the cost of the construction as applicable  All AWHO allottees having adequate repaying capacity.

Nearest ICICI bank Branch. 
Raman Walia
Regional Head 

ICICI Bank Ltd 

Tel : 09899457658
Email : This email address is being protected from spambots. You need JavaScript enabled to view it. 

Upto 30Lac 10.25% 
Above 30Lac 10.50%
Applicable admin fees 0.25% + ST 
(Spl. discount of 0.75% to AWHO members) 
8. Home Loan  Bank of India  From 75% to 85% depending on cost of Dwelling Unit.  All AWHO allottees having adequate repaying capacity. Any Branch of Bank of India.

Contact Details
RBC New Delhi
Mr Arunabha Chandra, AGM
08130266336, 011-23755607
RBC Jabalpur
Mr Mukesh Kumar, Chief Manager
0761-2480116, 09630396886  

Special Scheme for Army personnel
Upto 75 Lacs : 10.20%
Above 75 Lacs : 10.45% 
Processing Charges : 100% waiver
Moratorium period : Upto 36 months 
Margin Money
Upto 20 lacs : 15%
Over 20 to 75 lacs : 20%
Over 75 lacs : 25% 

9. House Building Loan  State Bank of Travancore      M.G. Road, Ernakulam 

Relation Manager : 0484-2350245 / 9656111056
Assst Manager: 0484-2350245 / 9447140046
Chief Manager : 0484-2368555 / 9446410006
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

* Attractive interest rates.

* Concession of 0.5% in interest rate exclusively for the allottees.

* Low processing charges.

Concession of 50% in processing charges exclusively for the allottees.

* No preclosure charges.

Freedom to prepay installments.

* Option for availing Housing Loan as Overdraft. (upto Rs 50 lakhs).

* Facility for capitalization of interest during construction period.

* Interest calculated on  daily diminishing balance.

10. House Building Loan  Vijaya Bank      RACPC (CO Code 9804)
Vijaya Building, Ground Floor,
17, Barakhamba Road,
New Delhi - 110001.
Phone: 011-23353242
Fax: 011-23721079, IP: 980401
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Less than Rs 75.00 lakhs : BR + 0.05% presently at 10.25% pa
75 lakhs and above : BR + 0.30% = 10.50% pa
Processing/ Prepayment/ Documentation Charges NIL.

KINDLY CONTACT LOANING AGENCY FOR THE LATEST INFO.

NOTE : This list is only to facilitate our allottees. Kindly approach any loaning agency of your choice.

 

Points to be kept in mind regarding housing loan :

  • ·One can apply for home loan only after issue of booking letter. Before availing a home loan, a payment of 15% to 25% has to be made by the allottee to AWHO directly.
  • Necessary NOC (No Objection Certificate) can be obtained from AWHO on specific request by allottee along with provisional Sanction letter from the loaning agency outlining the terms & conditions of the loan like tenure & loan amount.
  • ·Tripartite Agreement for HBA from AG PS-3(c) and AGIF is signed by AWHO as per their approved formats. For other Housing Finance Agencies, Tripartite Agreement approved by AWHO is signed. AWHO draft TA formats are available on the website.
  • Tax benefits can be availed on a home loan. The benefit maybe availed on the instalments paid towards principal component from beginning of the loan under section 80-C. Interest component qualifies for tax benefit after possession of the Dwelling Unit has been taken and maybe reduced from total taxable income. (Pls refer to IT guidelines for more details.)
Housing Loan :- PROCEDURE TO FOLLOW
1. Select a loaning agency, show them your Financial Papers:-

(a) Latest Pay Slip/Proof of Income (3 months).
(b) Bank Statement for last six months where salary is credited.
(c) Income Tax Return/Form 16 (Last 2-3 years).
(d) PAN Card.
(e) Identity Proof.
(f) Residence Proof.
(g) Passport size photo.
(h) Personal assets and liabilities statement (PF, PPF, LIC etc.) along with documentary evidence.
(j) Copy of PPO/Pension certificate copy (For pensioners).

And obtain a provisional/Interim sanction letter from the loaning agency stating the loan amount and tenure.

2. Apply to AWHO Loan Section for a No Objection or for mortgaging the allotted dwelling unit with a copy of sanction letter.
3. In case the loaning agency requires a tripartite agreement to be signed. It has to be done as per AWHO draft which is given here.
 
Draft Tripartite Agreement (First Charge)
 
Draft Tripartite Agreement (Second Charge)
 
 
 
 
 

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