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Detailed Querry Answer
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Querry
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I plan to purchase a resale property, 1bhk 550Sq. Ft, 15yrs old in nallasopara west, i m working with pvt ltd firm having gross salary 10000 & my wife is working with telecom in dustry in contractual basis she having gross salary is rs, 8000. kindly suggest me how much is the loan sanction & how much is the disbuerment amount if i made the agreemnt for 1000000/-
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Kiran
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lovkiran@gmail.com
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Answer
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Banks will sanction the loan amount on the basis of three factors which are your monthly earnings, agreement amount and the valuation amount. Banks will disburse the amount which ever is less among these three.
Coming to the property, the property which you are purchasing is 15 years old which will attract depriciation of max 30% of the property valuation.
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EMI Calculator
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Banks and Interest Rates
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| Bank | Rate of Interest |
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ICICI
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Upto 30 Lacs 8.75%
30 - 50 Lacs 9%
Above 50 Lacs 9.50%.
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Bank of Baroda
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Base Rate 8%
Below 30 Lacs 9.00%
Above 30 Lacs 9.75%.
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AXIS
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Upto 30 lacs 8.75%
Above 30 lacs 9.25%
Fixed 14%( Irrespective of loan type and amount)
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SBI
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Base Rate 7.50%
Upto 50 Lacs 8% for First Year
2nd & 3rd Year 9%
Above 3 Year 1.75% above Base Rate.
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Andhra Bank
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Base Rate 8.25%
Upto 20 Lacs 9.75%
Above 20 lacs 10.50%
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