Date:02/10/2008 URL: http://www.thehindu.com/2008/10/02/stories/2008100254690500.htm

Tamil Nadu

At the expo…..

Here is a good news for those who are planning to opt for home loans. State Bank of India is hosting a special exhibition for home loans with many concessions and special offers from October 2 to October 4.

Twenty key branches of State Bank of India in Puducherry, Cuddalore and Villupuram regions are together organizing the Housing Loan Exhibition in the town at Vel Chokkanathar Kalyana Mandapam in Puducherry.

This exhibition unveils many special offers which are otherwise not possible to enjoy. The special features of this home loan mela include the participation of 20 prominent builders cum flat promoters some of whom offer special discounts for flats/houses booked at the exhibition, on the spot ’in-principle’ approval of Housing Loan, special concession in interest rate and processing charges and group insurance for all home loan buyers by the State Bank of India, and many displays including furniture, modular kitchen and cars.

Home loans are usually given based on the repayment capacity that is derived from the net annual income of the customer. Loans are given for the maximum repayment tenor of 25 years subject to liquidation of the loan in full before the customer turns the age of 70 years.

The necessary documents to be submitted while applying for home loan include Photo Id Card for proof of identity, Passport /PAN Card / Driving License etc., Proof of Residence, Proof of Income, Bank Account Statement for last 6 months and Property Title documents.

Nanthini Dominique