Home loan in Jammu
Last Updated : Sept. 25, 2019, 3:14 p.m.
About Home Loan in Jammu
Jammu, the winter capital of Jammu & Kashmir lies on the bank of river Tawi. It is the second last rail terminal in North India, therefore is a major point for all pilgrims who wish to go to Vaishno Devi and Kashmir. The city is known for Ranbireshwar Temple, Peer Meetha, Rani Park, Raghunath Temple and Karbala. Tourism is the major industry in the city which is flourishing day by day. The city is taking baby steps in the business sector as well. Many small-scale enterprises have even started prospering in Jammu. Various banks and Non-Banking Financial Companies have taken a holistic approach and opened up their branches in Jammu due to the growing requirements of housing loans. They are working around the clock to support the financial requirements of the people. To apply now for a home loan at your nearest branch, check the details below.
Top Banks offering Home Loan in Jammu
| Banks | Main Branch Address | Home Loan Interest Rate |
|---|---|---|
| SBI | Red Cross Building, Kachi Chawn, Jammu and Kashmir 180001 | 9.15% - 11.30% |
| ICICI Bank | Rudra Complex, Main Road, Sector-2 Channi Himmat, Jammu, Jammu and Kashmir 180015 | 9.00% - 10.05% |
| HDFC Ltd | Office No.18-19 , B-1, North Block, bahu Plaza, Jammu, Jammu and Kashmir 180012 | 8.50% - 9.40% |
| Axis Bank | Basement & Ground Floor, Khewat No. 118, Khasra No. 325, Gulab Singh Marg, Near Dogra Chowk, Jammu, Jammu and Kashmir 180001 | 8.75% - 9.15% |
| Punjab National Bank | Shastri Nagar, Sanjay Nagar, Jammu, Jammu and Kashmir 180004 | 8.60% - 9.95% |
| Bank of Baroda | Gandhi Nagar, Jammu, Jammu and Kashmir 180004 | 8.50% - 10.60% |
| Bank of India | Residency Rd, Raghunath Bazar, Pakki Dhaki, Resham Ghar Colony, Jammu, Jammu and Kashmir 180001 | 8.85% onwards |
| Canara Bank | 32-A,Extension Gandhinagar, Jammu, Jammu and Kashmir 180004 | 8.85% - 11.25% |
| IDBI Bank | 222-225, City Centre, Second Floor Begum Bridge Road, Jammu, Jammu and Kashmir | 8.80% - 12.25% |
Home Loan Jammu in a nutshell
| Particulars | Details |
|---|---|
| Interest Rate | 6.70% - 14.00% |
| Processing Fee | 0 to 1.25% of the loan amount along with service taxes if applicable |
| Pre-payment/Part-payment charges | NIL for floating |
| Tenure/Repayment | 1 to 30 years |
Eligibility criteria for a home loan in Jammu
| Particulars | Salaried Individuals | Self-employed individual | Partnership Firm | Private/Public Ltd. Company (in existence for at least 3 years) |
|---|---|---|---|---|
| Age | The applicant should be at least 21 years at the time of application and 58 years at the time the loan matures | Any proprietor, partner, professional or director above 21 years but below 65 years at the time of loan maturity | ||
| Income | Minimum income of at least Rs. 1,80,000 per annum | Minimum annual income of Rs. 1,80,000 | Minimum Profit after Tax (PAT) of at least Rs. 3 Lakhs | Minimum Profit after Tax (PAT) of at least Rs. 3 Lakhs |
| Job Stability | The total employment stability should be more than 2 years and current employment stability of minimum 1 year | Business stability should be more than three years | ||
Documentation required for home loan in Jammu
- Proof of Identity – PAN Card/Driving license/ Voter ID/Passport/Aadhar Card
- Proof of address – Passport/ Telephone bill/Aadhar card/Electricity bill
- Proof of Income – Latest salary slip/ ITR/Form-16
- Bank Statement – Last 3 months bank statement/ last 6 months bank passbook
- Property Documents – Agreement sale copy, Certificate of possession, Land tax receipt, Detailed cost of construction, Letter of allotment, Original NOC
About Home Loan
Many times we wish we weren’t living in a rented apartment and instead in our own home. Having a home of our dreams is a thing to rejoice for. But the shortage of funds acts a big setback for many people. Keeping this in mind, various banks and NBFCs offer home loan to eligible people who want to build a dream home within budget . A home loan is a product which is tailor-made to suit the financial requirements of people who need funds in order to purchase a house. It can be used for construction, extension or repair of home as well. Why pay rent every month when you can pay EMIs and live in your own house?
Home Loan Calculator by Top Banks
- SBI Home Loan EMI Calculator
- HDFC Bank Home Loan EMI Calculator
- Tata Capital Home Loan EMI Calculator
- LIC Home Loan EMI Calculator
- PNB Housing Finance Home Loan EMI Calculator
- ICICI Home Loan EMI Calculator
- Bank of Baroda Home Loan EMI Calculator
- Axis Bank Home Loan EMI Calculator
- Indiabulls Home Loan EMI Calculator
- Reliance Home Loan EMI Calculator
