B o I i. Relationship beyond banking STAR HOME LOAN SCHEME FOR YOUR DREAM HOME

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Audra Small
5 years ago
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i) For various purposes like - To purchase / construct house / flat, for repair/renovation/alteration/addition to existing house/flat, To purchase a plot of land for construction of house, for

1 i) For various purposes like - To purchase / construct house / flat, for repair/renovation/alteration/addition to existing house/flat, To purchase a plot of land for construction of house, for furnishing the house/flat, Take-over of your housing loan extended by other Banks / Financial Institutions / NBFCs. ii) iii) iv) Higher Loan eligibility and Low Rate of Interest. Lower EMI (Equated Monthly installment) Longer Repayment period upto 25 years. v) Option for different EMI amounts for different periods during tenure of loan to suit you repayment capacity i.e. you can opt for : vi) vii) viii) ix) - Lower EMI during initial period and higher EMI during later period. - Higher EMI during initial period and lower EMI during later period. - Bullet repayment of part of the loan amount in stages (i.e. where customer is expecting large proceeds form PPF/LIC policy/nsc/sale of property etc.) - Progressive / step up EMI Permitted. Revision in EMI upon revision in Rate of Interest. Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount. Some Banks/Financial institutions apply interest on monthly/quarterly/annual reducing balance basis which results in higher interest amount. No Administrative / Commitment charges, No Hidden costs Prepayment of loan permitted. x) Very low Processing Fees / charges xi) xii) xiii) xiv) xv) xvi) Loan available for repayment of your present higher cost housing loan other Bank/Financial Institution i.e. Take over of your existing Loan account. Loan to NRIs (Non - Resident Indians) also. Free Credit Card for first year on complementary basis (i.e. no charges for entry fee and membership fee for one year), subject to term & conditions. Free Personal Accident Insurance cover for the borrower (covering accident death as well as permanent total disablement) as per the terms of the Policy, covering entire loan outstanding as on the date of accident. Disbursement of Loan amount in full (irrespective of stage of completion of project) can be permitted provided adequate collateral security is provided. Such collateral security may be released upon completion of project and creation of equitable mortgage charge over the property financed by the Bank. Simplified application form/procedures for convenience of customer, and speedy approvals. xvii) Tie-up arrangement (Wherever possible) with employer for providing easy repayment route. xviii) Availability of substantial Income-Tax benefits towards repayment of principal & interest amount as per Incometax laws applicable. xix) STAR SCHEME FOR YOUR DREAM HOME SALIENT ATTRACTIVE FEATURES OF THE SCHEME Optional Life Insurance cover in association with Star Union Dai - Ichi Life Insurance Co. Ltd., a joint venture of Bank of India.

2 LIST OF DOCUMENTS REQUIRED FOR HOUSING FINANCE FROM APPLICANTS & GUARANTORS 1. Two passport size photograph of applicant/s and guarantor/s. 2. Income proof, latest salry certificate, salary slip from employer showing name, designation, salary details of deductions and copies of income tax returns of last 3 years together with latest income tax assessment order and advance tax challans of current year. 3. Employer s certificate about birth date, age, date of joining, likely date of retiremaents, etc Xerox copy of PAN allotted by income-tax department. 6. Documentary proof of assets owned such as flat/plot/nsc/lic Policies /shares etc. 7. Copy of driving license/passport/photo identity card issued for election purpose/photo identity card issued by employer. 8. In case of business man, copies of financial statements(prefereably audited) & Income tax returns for last three years together with copy of latest income-tax assessment order and advance tax challans of current year. 9. Copy of any of the following:- ration card/telephone bill/electricity bill/rent Receipt/certificate about address from employer with signature verified. 10. Other than individuals-any one of (Certificate of Registration under Shop and establishment Avct or factories act or as SSI or similar Registration with govt/municipal bodies). (A) FIRST PURCHASE FROM THE BUILDER: 1. Original registered agreement for sale between applicant and the builder, alongwith index II, extract and original registration fee paid receipt. 2. NOC from the builder to mortgage the flat in the name of Bank of India(in our format) 3. Development agreement between owner of the land and the Builder. 4. Power of attorney given by land owner to the builder for carrying on the construction work. 5. NA order from collector. 6. Ceiling orders if any (order u/s 8(4), 20/21/22 of ULC Act. Order/permission u/s 26 of ULC Act). 7. Latest 7/12 extract of Property register extract and pherphar extract. 8. Commencement certificate from Municipal Corporation. 9. Sanction building plan from collector/town Planning authority. 10. Copy of Title report by Builder s advocate. 11. Stamped receipts in respect of payment made to the builder. 12. Any other document as maybe found necessary by the bank s advocate for legal scrutiny. 13. A brief write-up on the builder/promoter detailing their experience in executing projects and giving full details of property. (B) RESALE OF FLAT IN A CO-OPERATIVE SOCIETY 1. Original agreement for sale between applicant and vendor. 2. Up-to-date tax paid receipt. 3. Original share certificate and/or allotment letter(applicable for co-op housing society) 4. Society registration certificate 5. NOC from society to re-sale and to admit you as a member and permission to mortgage.( as per specimen no. 2) 6. Valuation certificate from our approved architect. 7. All the document of Vendor as mentioned above vide item A. 8. Blank transfer forms. C. RESALE OF FLAT WHERE SOCIETY IS YET TO BE FORMED: 1. Original agreement for sale between applicant and vendor. 2. Latest tax paid receipt. 3. NOC from the builder to mortgage the flat in the name of bank of India-in our format. 4. valuation certificate from our approved engineer/ architect 5. All the documents of vendor as mentioned in above item (A). (D) FLAT HOUSE ALLOTTED BY DEVELOPMENT AUTHORITY (MHADA/PCNTDA ETC.) 1. Allotment letter. 2. NOC from PCNTDA/MHADA to mortgage the property in favour of Bank of India. 3. Receipts for the payments made to development Authority. 4. Schedule of Payment. 5. True copy of sanctioned plan. 6. Registered Lease Deed in case construction plot is allotted by MHADA/PCNTDA along with Registration receipt. 7. Commencemnt certificate. (E) CONSTRUCTION ON FREEHOLD LAND 1. Registered sale deed and Original registration Receipt. 2. NA order from Collector. 3. Latest 7/12 extract/index II/ property register extract and pherphar extracts. 4. Commencement certificate from the corporation. 5. Sanctioned building plan from collector/ Town Planning authority. 6. Ceiling order if any (u/s 8 (4), u/s 20/21/22 of ULC Act, Order/permission u/s 26 of ULC Act. 7. Detailed estimate of construction cost. (F) In case of repair/renovation/extension, full details of existing property, details of repairs/ renovation/extension proposed to be carried out and and estimated expenses. The estimate from an architect registered with architects Association or on bank s panel should be accompanied.

3 The Manager, BANK OF INDIA BRANCH Photo Photo Applicant (1) Applicant (2) I/We hereby apply for a loan of Rs. (Rupees Please paste the Please paste the photograph and photograph and only) as housing loan for: (tick whatever is applicable) sign across sign across Purchase of flat Construction Repairs Renovation Alteration Extension of house/flat Declaration To enable the Bank to consider my/our request, I/We furnish below the required particulars/information and undertake to furnish to the Bank any other information/particulars required for the purpose from time to time till the loan is repaidin full I. BORROWER PARTICULARS A. Full name First Middle Last Applicant No. 1 Applicant No. 2 (in whose name house/flat is to be registered) (Wherever applicable) B. Date of Birth & Age years years C. Sex Male Female Male Female D. Marital status Married Unmarried Married Unmarried E. Name of father/husband F. No. of dependents (incl. self) G. No. of children H. Nationality Indian Non-Indian Indian Non-Indian I. Residential status (If NRI-copy of Resident NRI POI Resident NRI POI Passport/visa/work permit etc.,) J. Religion K. Educational Qualification L. If married: spouse Name Occupation PAN No. Net monthly income Rs. M. Earning member Name in family (other than Relation applicant/s) Occupation Net monthly income Rs. N. Banking Details of Bank Earning Member (other than applicants) Branch Account No. O. If earning member is Name BOI staff or applicant/s is related to BOI staff Relation Joined since Joined since - details of BOI staff Designation Branch Branch P. Physically challenged Yes No Yes No Q. Ex-serviceman Yes No Yes No R. Minority community Yes No Yes No R. Category GEN OBC SC ST GEN OBC SC ST II. IDENTIFY/ADDRESS PROOF A. PAN No (Attach copy) B. Proof of Identity Election Card Passport Election Card Passport (Any one copy to be attached) Driving License UID Driving License UID C. Present Address (Address Proof to be attached- Ration Card,Telephone/ Electricity/Gas Bill etc.,) City District District State PIN PIN Landmark D. Premises Ancestor Rented Ancestor Rented E. Telephone Number F. Mobile Number G. ID H. Permanent Address Owned If rented: since Owned If rented: since City District District State PIN PIN Landmark D. Premises Ancestor Rented Ancestor Rented Owned If rented: since Owned If rented: since

4 Applicant No. 1 Applicant No. 2 (in whose name house/flat is to be registered) (Wherever applicable) III. OCCUPATION/BUSINESS Salaried Self-Employed Business Salaried Self-Employed Business A. Name & Address of Employer/Business B. Employer (Central Govt./ State Govt./PSU/Bank/ Public Ltd/Private Ltd/ MNC etc.) or Business category C. Designation D. Department/Business Nature City District District State PIN PIN Landmark E. Date of joining/established in F. Date of Retirement G. Age of Retirement H. Salary deduction available I. Office/Business Tel. No. J. ID (Official) K. Contact Person at Office/ Business & Telephone Number IV. INCOME/ASSET DETAILS A. Income Details (Monthly/Annual) (Copy of latest salary certificate/ Form-16/ITR for last 3 years to be attached) Gross income Less: Statutory deduction Less: Other Deduction Add: Other Income specify Net Income Amt. In Rs. Gross income Less: Statutory deduction Less: Other Deduction Add: Other Income specify Net Income Amt. In Rs. B. Position of Assets & Liabilities (Documentary proof of Assets and Liabilities to be attached ) Movable/Immovable Assets-Particulars (A) Value (Rs.) Movable/Immovable Assets-Particulars (A) Value (Rs.) Note: Applicant may attach full details in a separate sheet of paper for clarity. (separate CBD-23 not be obtained) Liabilities Value (Rs.) Liabilities Value (Rs.) C. Networth (A-B) (Amount Rs.) V. Details of accounts with Banks/Institutions (Submit Xerox of passbook/statement of account for 6 months) (CIBIL report sha ll be obtained by the branch) A. SB/CD/TDR/Loan/ Cash Credit/OD Bank and Branch Account Balance O/s Bank and Branch Account Balance O/s B. C. D.

5 Additional information to be furnished by applicant/s for Home Loan I. Project particulars A. Loan required for B. Name of builder/vendor and address Purchase of plot Construction Purchase of flat Repair Extension Furnishing C. Contact no. builder/vendor City PIN D. Relation between builder/vendor and buyer, if any E. Property status F. If under construction/proposed G. If completed: date of occupancy certificate H. If society Ready Under construction Proposed Proposed date of completion/possession: Society Registration Number Allotment Letter issued Yes No Shares Issued Yes No I. Address of property J. Flat/house number K. Name of building L. Name of society M. Road N. City O. District PIN P. Landmark Q. Name of project R. Land S. If lease hold, lease expiry date T. Plot Area in sq.meter/feet Freehold Leasehold U. Survey No/ Hissa Number V. Built up area in sq.meter/feet W. Carpet Area in Sq.meter/feet II. LOAN REQUIREMENT (Amount in Rs.) Requirement A. Cost of land/house B. Cost of construction/repair/ extension etc. C. Stamp duty/registration E. Other costs (give details) F. Total Requirements (A) Source Bank Savings Sale of Investment /NSC/Flat/ House etc., Other sources (specify) Bank Loan Total from all sources (B) III. REPAYMENT A. Interest Rate Option Fixed Floating B. Repayment period (in months) C. Moratorium period required, if any Yes No If yes, months. (Interest during moratorium to be paid as and when debited ) D. Source of repayment E. Mode of repayment Debit to account Post dated cheque ECS III. DETAIL OF LEGAL HEIRS/FAMILY PARTICULARS Name Occupation Relation Age Marital Status Address

6 Reference - 1 Reference - 1 Name Designation Address Phone no. Moblie Moblie In support of the applications, I enclose: (i) Recent Passport sized Photograph (ii) Copy of PAN card (iii) Identify proof (iv) Address proof (v) copy of I.T. Return/Wealth Tax Return/Assessment order for last 3 years (vi) Copy of Employment certificate with details of salary drawn issued by salary disbursing officials - alongwith Form 16 and salary certificate for last 6 months/xerox of passbook or statement of operating account for last 6 months (vii) Balance Sheet, Profit and Loss Account, Trading Account, C apital Account for last 3 years (Audited/ Unaudited) (viii) Copies of Agreement, revenue records/society certificate in respect of the land/house/flat/building/society (ORIGINAL WILL BE SUBMITTED TO BRANCH FOR VERIFICATION) Declaration by applicant/s I/ We hereby declare that i. The proposed loan would be utilised by me /us for the purpose mentioned above. The finance required beyond the loan amount, shall be met by me/us from our own sources as stated herein above; ii. The house /flat /land to be purchased is unencumbered and is being made available with vacant possession and without any tenant; iii. The various permissions /approvals required under the law have been obtained /shall be obtained prior to disbursement of the bank loan; iv. The information given by me /us /our guarantor/s is true and correct on the basis of which bank would take decision for granting or otherwise of the loan to me /us; v. In case at any point of time hereinafter it transpires that information provided is found to be incorrect/false and /or that it is observed that the loan to be availed by me /us is not utilised for the purpose it is lent, the bank shall be at liberty to recall the advance forthwith irrespective of the contracted terms of loan and charge me /us penal /additional interest or take any steps that may be deemed fit by the Bank. I/we shall repay the entire loan with additional./ penal interest and other charges, if any, forthwith; vi. No disciplinary action and /or case is pending against me /us in any courts of law in the country; vii. I/we confirm that I/we have not had any insolvency proceedings against me/us nor I /we have ever been adjudicated insolvent; viii. I/we agree that the bank may take up such references and make such enquiries in respect of this application as it may deem necessary; ix. I/we shall execute necessary documents at my/our cost, create adequate security for the loan as desired by the bank before disbursement of the loan. I/we agree to abide by all the terms and conditions advised /to be advised by the bank from time to time; x. I /we undertake to inform the bank regarding any change in information provided above. I /we shall furnish additional information /document as bank may ask from me /us from time to time. Yours faithfully Applicant No. 1 Applicant No. 2 Signature Name

7 Annexure to Home Loan application: Optional - only for loans with Guarantor (Attach latest Photograph - duly signed across photograph) Borrower/Guarantor - 1 Borrower/Guarantor - 2 I. Borrower - Details A. Name of Borrower (Mr/Mrs/Miss) B. Purpose of loan C. Loan amount requested II. Guarantor - details A. Name of Guarantor (Mr/Mrs/Miss) B. Date of Birth & Age C. Sex D. Marital status years years Male Female Male Female Married Unmarried Married Unmarried E. Name of father/husband F. No. of dependents G. No. of children H. Nationality I. Residential status J. Educational Qualification K. Operative SB account details (attach passbook copy for last 6 months) Name of branch Indian Non-Indian Indian Non-Indian Resident NRI POI Resident NRI POI Yes No Yes No Account no. Since Balance outstanding L. Other bank Name of bank/branch Yes No Yes No Nature of account SB CD Loan SB CD Loan Account no. Balance outstanding Pan No. (Pl attach copy) Passport/Driving Licence/Election Card/UID/Ration Card No. and issuing authority (please attach copy) Passport Driving Election UID Ration Passport Driving Election UID Ration License Card Card License Card Card III. Residential Address (please attach address proof) Flat No/House Number Name of Building Society Road City District Telephone/Mobile No. ID IV. Office/Business Address Name of Employer/Business address with PIN code Employed/In business - since Designation Office/Business - Telephone no. Contact person at office/business with number

8 Annexure to Home Loan application: Optional - only for loans with Guarantor (Attach latest Photograph - duly signed across photograph) V. Income and asset details Gross Annual Income (Please attach salary certificate/form 16/Income Tax Return along with B/Sheet and P&L/Trading Account for last 3 years) Asset/Liabilities - Description Asset (Rs in lacs) (A) Liabilities (Rs in lacs) (B) Borrower/Guarantor - 1 Borrower/Guarantor - 2 Net worth DETAIL OF LEGAL HEIRS/FAMILY PARTICULARS Name Occupation Relation Age Marital Status Address I/We hereby declare that I/We am/are agreeable to stand as guarantor to Mr./Mrs./Ms. _ for the loan applied. The foregoing information provided by me/us is true and correct and provided to the Bank to take decision about granting or otherwise of the loan to me/us I/We undertake that if, based on the information provided by me/us, Bank sanctions loan/s to him/her/them and in case at any point of time hereinafter it transpires that any information provided/to be provided by me/us is found to be incorrect/false, the bank shall be at liberty to recall the advance forthwith, irrespective of the contracted terms of the loan. I would repay forthwith, the entire loan outstanding then together with interest/penal additional interest and other charges I/We undertake to provide any further information as Bank may ask from me from time to time. I/We also undertake to execute necessary documents for guaranteeing the loan Yours faithfully 1st Guarantor 2nd Guarantor Signature of Guarantors verified (By Borrower) Signature Name

/ / / / II-491. To The Branch Manager,...Branch. Dear Sir, I / We hereby apply for a Housing Loan of Rs (Rupees

/ / / / II-491. To The Branch Manager,...Branch. Dear Sir, I / We hereby apply for a Housing Loan of Rs (Rupees II-491 To The Branch Manager,.............Branch. Dear Sir, I / We hereby apply for a Housing Loan of Rs (Rupees AFFIX RECENT PASSPORT SIZE PHOTOGRAPH WITH SIGNATURE.) To enable you to consider my/our