Home loan Jammu

Home Loan Rates EMI 2017 244 views

About 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 development of several industries. They are working around the clock to support the financial requirements of the people.

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 home of their dreams. 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 Jammu in a nutshell

ParticularsDetails
Interest Rate

8.35% - 13.95%

Processing Fee0 to 1.25% of the loan amount along with service taxes if applicable
Pre-payment/Part-payment chargesNIL in most cases
Tenure/Repayment1 to 30 years
Lowest EMI/LakhRs. 758-1180

  Eligibility criteria required to get home loan in Jammu

ParticularsSalaried IndividualsSelf-employed individualPartnership FirmPrivate/Public Ltd. Company (in existence for at least 3 years)
AgeThe applicant should be at least 21 years at the time of application and 58 years at the time the loan maturesAny proprietor, partner, professional or director above 21 years but below 65 years at the time of loan maturity
IncomeMinimum income of at least Rs. 1,80,000 per annumMinimum annual income of Rs. 1,80,000Minimum Profit after Tax (PAT) of at least Rs. 3 LakhsMinimum Profit after Tax (PAT) of at least Rs. 3 Lakhs
Job StabilityThe total employment stability should be more than 2 years and current employment stability of minimum 1 yearBusiness stability should be more than three years

Documentation required to get a 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

Top Banks offering Home Loan in Jammu

BankMain Branch AddressInterest Rate
State Bank of IndiaRed Cross Building, Kachi Chawn, Jammu and Kashmir 1800018.35% - 8.80%
ICICI BankRudra Complex, Main Road, Sector-2 Channi Himmat, Jammu, Jammu and Kashmir 1800158.35% - 8.85%
HDFC BankJammu, Cb - 13, Rail Head Complex, Gandhinagar Bahu Plaza Jammu, Jammu, Jammu and Kashmir 1800038.35% - 8.55%
Axis BankBasement & Ground Floor, Khewat No. 118, Khasra No. 325, Gulab Singh Marg, Near Dogra Chowk, Jammu, Jammu and Kashmir 180001

8.35% - 8.75%

Punjab National BankShastri Nagar, Sanjay Nagar, Jammu, Jammu and Kashmir 1800048.50% - 8.70%
Bank Of BarodaGandhi Nagar, Jammu, Jammu and Kashmir 1800048.35% - 8.85%
Bank Of IndiaResidency Rd, Raghunath Bazar, Pakki Dhaki, Resham Ghar Colony, Jammu, Jammu and Kashmir 1800018.55% - 8.60%
Canara Bank32-A,Extension Gandhinagar, Jammu, Jammu and Kashmir 180004

8.65% - 8.75%

IDBI Bank 222-225, City Centre, Second Floor Begum Bridge Road, Jammu, Jammu and Kashmir8.30% - 11.30%
Central Bank of IndiaNear Poonch House, Talab Tillo, Jammu, Jammu and Kashmir 180002

8.40%

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