Abhyudaya Co-operative Bank Ltd Home Loan
Abhyudaya Co-operative Bank Ltd Home Loan Feature and Benefits
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Dedicated Customer Support
Experience personalized assistance from loan experts who guide you through every step, ensuring a smooth process.
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Competitive Interest Rates
The affordable EMIs with competitive interest rates, making your journey to homeownership easier and budget friendly. Interest rates range from 8.10% to 9.00% per annum.
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Digital Banking Support
Manage your home loan anytime, anywhere through robust online and mobile banking services.
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Top-Up Loan Facility
Access additional funds with our top-up loan feature to meet your evolving financial needs during the loan tenure.
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Quick and Easy Processing
Benefit from a seamless loan approval process with minimal documentation and swift disbursal.
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Flexible Loan Tenures
Choose a repayment tenure that suits your financial goals. The maximum loan amount is Rs 70 lakh, and the maximum tenure is 20 years.
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Customized Loan Options
Customized home loan solutions to meet individual financial requirements, ensuring flexibility and convenience.
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Secure and Transparent Policies
Trust in our co-operative banking model, known for its transparent procedures, secure transactions, and customer-centric approach.
Abhyudaya Co-operative Bank Ltd Home Loan Eligibility Criteria
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Eligibility Criteria |
Details |
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Age |
Minimum: 21 years, Maximum: 60 years (at loan maturity) |
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Income |
Stable and regular income source with proof (salary slips, ITR, etc.) |
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Credit Score |
A good credit score (preferably 700 or above) |
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Employment Type |
Salaried, self-employed professionals, and business owners |
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Loan Purpose |
Purchase, construction, renovation, or improvement of a residential property |
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Co-applicants |
Option to include co-applicants for enhanced loan eligibility |
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Residency |
Indian residents, including NRIs (if applicable) |
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Property Type |
Loan applicable for approved residential properties |
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Special Benefits for Women |
Reduced interest rates for women applicants and joint applicants (if women hold primary ownership of the property) |
Top Abhyudaya Co-operative Bank Ltd Home Loan Schemes
These schemes provide comprehensive solutions to meet diverse housing needs, making Abhyudaya Co-operative Bank Ltd a reliable choice for home financing.
1. Regular Home Loan Scheme:This specific scheme is for individuals looking to purchase, construct, or renovate a residential property. The scheme offers competitive interest rates, flexible repayment tenures, and personalized assistance to make homeownership easier.
2. Women-Centric Home Loan: Empowering women homebuyers with reduced interest rates and flexible terms. Women applicants, or joint applications where women are the primary property owners, enjoy exclusive benefits.
3. Home Improvement Loan: The scheme is for individuals seeking financial support for renovating or upgrading their existing homes. This scheme ensures easy financing for home improvement projects with attractive rates.
4. NRI Home Loan Scheme: Specifically created for non-resident Indians (NRIs), this scheme provides funding for purchasing or constructing residential properties in India. The process is streamlined for convenience, with flexible tenures and competitive interest rates.
5. Balance Transfer Home Loan:Aimed at borrowers who want to transfer their existing home loan from another bank to Abhyudaya Co-operative Bank for lower interest rates and better terms. This scheme also offers top-up loan options for additional funding.
Documents required for Abhyudaya Co-operative Bank Ltd Home Loan
The basic documents required for home loan are listed here:
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Identity Proof |
Aadhaar Card, PAN Card, Passport, Voter ID, Driving License. |
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Address Proof |
Utility Bill, Aadhaar Card, Passport, Rental Agreement. |
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Income Proof |
Salaried: Salary slips (last 3 months), Bank statements (6 months),
Form 16/ITR (2 years).
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Property Documents |
Sale agreement, Title deed, Approved building plan, Property tax receipt (if applicable). |
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Additional Documents |
Passport-sized photographs, Loan application form, Proof of down payment. |
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Special for Women |
Proof of property ownership or co-ownership to avail special benefits for women applicants. |
Tax Benefits on Abhyudaya Co-operative Bank Home Loan
1. Interest Deduction (Section 24b): Deduct up to ₹2,00,000 annually on interest for self-occupied homes. For let-out properties, the entire interest is deductible under specific conditions.
2. Principal Repayment (Section 80C): Claim up to ₹1,50,000 on principal repayment under the overall 80C limit.
3. Stamp Duty & Registration (Section 80C): Deduct up to ₹1,50,000 on these charges in the year of purchase.
4. First-Time Homebuyers (Section 80EE): Additional ₹50,000 interest deduction for eligible first-time buyers.
5. Affordable Housing (Section 80EEA): Extra ₹1,50,000 interest deduction for loans sanctioned under affordable housing schemes.
6. Joint Loans: Co-borrowers can claim tax benefits individually, doubling the savings.
Key Points to Remember:
- Tax benefits are available only if the property is in your name or you are a co-owner.
- Ensure timely repayment of EMIs to continue availing these benefits.
- Keep all home loan-related documents, including interest certificates, for tax filing purposes.
Abhyudaya Co-operative Bank Ltd offers home loans with flexible repayment options and excellent customer service. Whether buying or renovating, trust our transparent, customer-focused solutions to make your dream home a reality. Apply today!
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