Which bank is best for land purchase loan?
Which bank is best for land purchase loan?
1. State Bank of India (SBI): State Bank of India is the largest bank in India.
| Plot Loan Interest Rate | Minimum | Maximum |
|---|---|---|
| Salaried | 7.45% | 7.85% |
| Self Employed | 7.45% | 7.85% |
What is interest rate for loan against property Axis Bank?
The Bank’s current base rate is – 8.50%
Is there any loan for buying land?
Land financing is available and it can be provided to assist with both the purchase of the plot and construction on the land.
How much loan can I get on 50000 salary?
5,40,000. On the other hand, if you are wondering – how much personal loan can I get on a 40,000 salary, the loan sanction amount will be close to Rs. 10.80 lakhs….Multiplier Method.
| Salary | Expected Personal Loan Amount |
|---|---|
| Rs. 40,000 | Rs. 10.80 lakhs |
| Rs. 50,000 | Rs. 13.50 lakhs |
| Rs. 60,000 | Rs. 16.20 lakhs |
Can I get loan against my land?
These days, a number of lenders offer loan against plot to anyone who owns a piece of land and would like to use it as collateral for securing a loan. A loan against land can be used to construct homes, develop a factory or build commercial business plants on the pledged plot of land.
How can I get loan for property?
Documents required for loan against property
- Latest salary slips (only for salaried applicants)
- Bank account statements of the previous 3 months.
- PAN card and Aadhar card.
- Address proof.
- Copy of the documents of the property that is to be mortgaged.
- IT returns (only for salaried applicants)
Is it good to take plot loan?
The construction component of this loan is eligible for tax deduction just as a home loan. Many land developers insist that even though plot loan has no benefits, the land value will always appreciate and ample gains can be made by buying now and holding for a longer time.
What is the minimum plot area for home loan?
You need to construct a house on the plot for which loan has been taken within a stipulated time period, which is generally in the range of two-three years. Further, the minimum constructed area needs to be at least 25% of the total plot area.
How much home loan can I get on 65000 salary?
SBI Home Loan Eligibility Based on Salary
| Monthly Income | Loan Amount |
|---|---|
| Rs. 50,000 | Rs.33,99,059 |
| Rs. 55,000 | Rs.41,54,405 |
| Rs. 60,000 | Rs.45,32,079 |
| Rs. 65,000 | Rs.49,09,752 |
How much home loan can I get on 35000 salary?
How Much Home Loan Can I Get?
| Net Monthly Income (₹) | Loan Amount (₹) |
|---|---|
| ₹ 30,000 | ₹ 17,09,806 |
| ₹ 35,000 | ₹ 20,46,586 |
| ₹ 40,000 | ₹ 23,83,366 |
| ₹ 50,000 | ₹ 30,56,926 |
How much home loan can I get on 50000 salary?
50,000, you can avail a loan amount of Rs. 37.28 Lakh for the same property….Home loan eligibility based on salary.
| Age | Net monthly income (in Rs.) | |
|---|---|---|
| 25,000 – 50,000 | 75,000 | |
| 25 Years | 18.64 lakh – 37.28 lakh | 55.93 lakh |
| 30 Years | 18.64 lakh – 37.28 lakh | 55.93 lakh |
| 35 Years | 18.64 lakh – 37.28 lakh | 55.93 lakh |
Can we take home loan on plot?
So, if you are looking to buy a plot, you may not be eligible for a home loan, but for a land loan. Home loans are available only for the property already constructed, under construction or likely to undergo construction soon. For funding the purchase of a vacant plot, you will have to go for a land loan instead.