Ahmedabad Mercantile Co-operative Bank Ltd. Home Loan
AMCO Bank Home Loan Features and Benefits
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Attractive Interest Rates
AMCO Home Loans offer competitive interest rates starting as low as 8.50%, ensuring affordability and helping you save more overtime.
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Flexible Loan Tenure
Enjoy flexible repayment options with loan tenures of up to 30 years, designed to suit your financial planning and monthly budget.
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High Loan Amount
AMCO provides substantial loan amounts to meet your housing needs, whether purchasing a new home, constructing, or renovating.
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Minimal Documentation:
The loan application process is simple and hassle-free with AMCO's minimal documentation requirements, saving you time and effort.
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Quick Approval Process
With an efficient and transparent process, AMCO ensures quick loan approvals, helping you move into your dream home faster.
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Top-Up Loan Facility
Borrow additional funds for home improvement or personal needs with the convenient top-up loan option available for existing customers.
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Tax Benefits
AMCO Home Loans provide eligible tax deductions on both principal repayment and interest paid under Section 80C and 24(b) of the Income Tax Act.
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Balance Transfer Facility:
Transfer your existing high-interest home loan to AMCO at lower interest rates and enjoy better savings and repayment flexibility.
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Expert Guidance
AMCO's dedicated team provides expert financial guidance and personalized solutions, ensuring a seamless home loan experience for every borrower.
AMCO Bank Home Loan Eligibility Criteria
To understand these criteria anyone can easily apply for a home loan as per their requirements. Here as follows:
| Eligibility Criteria | Details | Women-Specific Benefits |
|---|---|---|
| Age | 21–60 years (salaried), up to 65 years (self-employed) | Same as general criteria. |
| Income | Minimum income as per loan amount and city of residence | Preferential loan terms for women applicants, including lower minimum income requirements. |
| Employment Status | Salaried (2+ years of experience) or Self-employed (3+ years of stable business) | Flexible employment criteria for women entrepreneurs. |
| Credit Score | Minimum credit score of 650-700 | Relaxed credit score thresholds for women borrowers. |
| Loan Amount | Depends on income, age, and repayment capacity | Higher eligibility for loan amounts for women applicants. |
| Co-applicant Requirement | Co-applicant optional (can be spouse, parents, or siblings) | Women applicants can avail of lower interest rates with a co-applicant. |
| Property Ownership | Property should be legally registered in the applicant’s name | Additional incentives if the property is registered in the woman’s name. |
| Interest Rate | Competitive rates based on market conditions | Special discounted interest rates exclusively for women applicants. |
| Processing Fee | Nominal processing fee, as per loan amount | Reduced or waived processing fees for women applicants. |
| Additional Benefits for Women | Not applicable | Free property insurance or priority loan approval for women applicants. |
Documents required for AMCO home loan
The documents which are required for the AMCO home loan are the listed below:
| Category | Required Documents |
|---|---|
|
Identity Proof |
Aadhaar Card,PAN Card,Passport,Voter ID,Driving License |
|
Address Proof |
Aadhaar Card,Utility Bills (Electricity/Water/Telephone), Passport , Rent Agreement (if applicable) |
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Income Proof (Salaried) |
Latest 3 months’ salary slips,Form 16 or Income Tax Returns (ITR) for the last 2 years |
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Income Proof (Self-Employed) |
- ITR for the last 3 years,Business Registration Certificate,Profit and Loss Statement,Bank Account Statement (last 6 months) |
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Property Documents |
- Sale Agreement,Title Deed, Approved Building Plan,Encumbrance Certificate . |
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Bank Statements |
Bank account statements for the last 6 months |
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Photographs |
Recent passport-sized photographs of all applicants |
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Additional Documents (if applicable) |
- Proof of co-applicant’s income, NOC from housing society, Loan sanction letter (for balance transfer cases) |
|
Women-Specific Benefits |
If availing women-centric benefits, property ownership documents in the applicant’s name are required. |
Tax Benefits on AMCO Bank Home loan
Buying your dream home is now more rewarding with AMCO Bank Home Loans, offering substantial tax benefits under the Income Tax Act, 1961.
Section 80C : Claim up to ₹1,50,000 annually on principal repayment, including stamp duty and registration fees.
Section 24(b): Deduct up to ₹2,00,000 annually on interest for self-occupied properties. Unlimited let-out properties.
Section 80EE: First-time buyers get an extra ₹50,000 deduction on interest.
Section 80EEA: Save an additional ₹1,50,000 on affordable housing loans.
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How to apply for AMCO bank home loan
Check Eligibility
Prepare Documents
Submit Application
Approval & Disbursement
Secure your dream home with AMCO Bank's competitive home loans. Enjoy flexible repayment options, exclusive benefits, and significant tax savings. Start your journey today and experience meeting your financial needs. Apply now!
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