Orange City Housing Finance Home Loan
Last Updated : July 26, 2019, 12:11 p.m.
About Orange City Housing Finance Home Loan
Dreaming of owning your house one day? If Yes is your answer, then Orange City Housing Finance Limited is the medium by which you can get your dream house. Home loans are on offer from the housing finance company for an amount up to ₹90 lakhs at 14% fixed interest rate. However, the loan amount is limited to 80% of the cost of the property, which you want to buy.
Orange City Housing Finance Home Loan Interest Rates
| Particulars | Details |
|---|---|
| Interest Rate | Fixed rate : 14% p.a. |
| Loan Amount | Available up to ₹90,00,000/- |
| Tenure | 1 to 20 years |
| Processing Fees | 1% administrative & 1% processing charges(non-refundable) |
| Pre-payment or Foreclosure | Prepayment : No prepayment charges applicable from 'own' sources. Payable from other sources of borrowing such as a Bank/ HFC’s /NBFC or financial Institution Foreclosure : Before 3 years from the date of disbursement of loan |
| Loan to Value | 80% of the market value for loans upto 20 years and not exceeding 75% of the Market Value of property for loans above ₹20 lakhs but less than ₹90 lakhs. |
Orange City Housing Finance offers home loans for the following purposes:
- Purchase of a New Home
- Resale of a Property
- Renovation of a Home
- Extension of a Home
- Purchase of Plot to Construct a House on the Same
- Home Loan for Self-employed
- Commercial Loans for Professionals
- Personal Loans and Loan for Soft Furnishing
- Construction Finance to Builders
Now that you are aware of the purposes for which you can avail a home loan from the company, get yourself updated with the eligibility criteria to obtain the same.
Orange City Housing Finance Home Loan EMI Calculator
Securing a home loan from Orange City Housing Finance is easier. You can use the Home Loan EMI Calculator of the company for determining your monthly repayment amount that you have to incur on your Home Loan.You can also estimate the monthly interest to be payable with EMI and the total cost calculated each year. Orange City Housing Finance Home Loan EMI Calculator will tell you the results instantly. Also, you can quickly assess your eligibility criteria for availing home loan.
For example, you are a self-employed professional working in handicrafts sector, with a monthly revenue of ₹45000. You want to buy a property in Delhi and have applied for a home loan of ₹25 lakhs payable after 20 years at fixed interest rate of 14% p.a. You wish to know the total equated monthly installments along with the interest amount that will be payable by you for your home loan. The following table specifies the calculated EMI, interest payment and the total amount(EMI+Interest).
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 24,594 | ₹ 3,48,461 | ₹ 24,75,405 |
| 2 | ₹ 28,267 | ₹ 3,44,788 | ₹ 24,47,137 |
| 3 | ₹ 32,489 | ₹ 3,40,567 | ₹ 24,14,648 |
| 4 | ₹ 37,341 | ₹ 3,35,715 | ₹ 23,77,306 |
| 5 | ₹ 42,918 | ₹ 3,30,138 | ₹ 23,34,388 |
| 6 | ₹ 49,327 | ₹ 3,23,729 | ₹ 22,85,061 |
| 7 | ₹ 56,694 | ₹ 3,16,362 | ₹ 22,28,367 |
| 8 | ₹ 65,160 | ₹ 3,07,895 | ₹ 21,63,206 |
| 9 | ₹ 74,892 | ₹ 2,98,164 | ₹ 20,88,313 |
| 10 | ₹ 86,076 | ₹ 2,86,979 | ₹ 20,02,237 |
| 11 | ₹ 98,931 | ₹ 2,74,125 | ₹ 19,03,305 |
| 12 | ₹ 1,13,706 | ₹ 2,59,350 | ₹ 17,89,598 |
| 13 | ₹ 1,30,687 | ₹ 2,42,369 | ₹ 16,58,911 |
| 14 | ₹ 1,50,204 | ₹ 2,22,852 | ₹ 15,08,706 |
| 15 | ₹ 1,72,636 | ₹ 2,00,420 | ₹ 13,36,070 |
| 16 | ₹ 1,98,418 | ₹ 1,74,638 | ₹ 11,37,652 |
| 17 | ₹ 2,28,050 | ₹ 1,45,006 | ₹ 9,09,601 |
| 18 | ₹ 2,62,108 | ₹ 1,10,948 | ₹ 6,47,493 |
| 19 | ₹ 3,01,251 | ₹ 71,804 | ₹ 3,46,241 |
| 20 | ₹ 3,46,599 | ₹ 26,815 | ₹ 0 |
Documentation for Orange City Housing Finance
| Basis | Documents (in-detail) | ||||
|---|---|---|---|---|---|
| KYC Documents for Applicant, Co-Applicant & Guarantors | PAN card Identification proof (one of the following) Government Identity card Passport Election card Driving license Residence address proof (one of the following) Telephone bill (BSNL) Electric bill Ration card Passport size photos (2 copies) Bank statement for 1 year Latest Salary Certificate / Income Certificate. Income tax Assessment order for last three years | ||||
| Property Documents | Sales Deed / Agreement to sale (Vikripatra / Kararnama) Aakhiv Patrika from city survey (Malmatta patrak) Latest Corporation Tax receipt (Malmatta kar) Building permit (Bandhkam parvangi) Sanctioned map (Manjoor Nakasha) Title verification report (Search report) Valuation report (for ready possession) or Estimate report (for under construction) NOC (from society /from NIT for loan & mortgage) (Na harkat pramanpatra) Mutation (Nav darz karne) ( either in City survey NMC/NIT/Nazul) Record of Rights from Municipal Corporation (Namantaran ittala) Collaterals in the form of FD Listed ‘A’ Shares PPF Life Insurance policies Immovable property (papers of House, plots, shop) Affidavit regarding Non Encumbrance | ||||
| Special Requirements for Flats | Agreement for Sale duly registered / Sales deed Allotment letter of Builder/ Society Builder / Society NOC Copy of the Building Plan with applicants flat duly marked & numbered. | ||||
| Documents required from Employed applicants | Verifying Employment form with only Part I Filled in A letter from your employer accepting for deduction of EMI for loan repayment from your salary / ECS clearing | ||||
| Documents required from Self Employed applicants / Co Applicant / Guarantors | MOA / AOA / Partnership deed / Proprietor / Registration certificate giving information on the nature of your business/profession, form of organization, clients, suppliers, etc. Last 3 years Balance sheets & Profit loss Accounts. |
Features and Benefits of Orange City Housing Finance
- Loan schemes with simple terms
- Customer friendly and transparent procedure
- Quick sanction and disbursement of loans
- Personalised and warm customer service
Orange City Housing Finance Customer Care Contact Number
Feeling perplexed in understanding about your EMI calculations or want to reduce the installment of your EMI or want to extend your tenure for repayment of your home loan. Any queries associated like this towards your home loan can be very well answered by an experienced customer care representative of Orange City Housing Finance Limited. Call on +91 712 2242824/+91 966 5013809 or put forward your queries or grievances( if any) over email at the email address mentioned on the website.
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