Sage-Tips

Can a government employee get 1 crore loan?

Under the ‘Salary Plus Account Scheme’, government employees and account holders working in paramilitary forces are eligible to get free accidental death cover up to Rs 30 lakh. They will also get free air accident insurance of Rs 1 crore.

What is the maximum loan amount for government employees?

You can borrow up to Rs. 25 lakhs under the facility of personal loan for government employees. Attractive rate of interest starting at 11.99\%. Choose repayment tenures anywhere between 12 months and 60 months as per your convenience.

Can we get 1 crore home loan?

Bajaj Finserv offers high-value Home Loans up to Rs. 3.5 crore, using which you can become a homeowner without compromise or delay. Further, you benefit from a flexible tenor spanning up to 240 months and to manage your EMIs with ease.

Can a govt employee take loan?

Government employees can avail loans from banks such as Oriental Bank of Commerce, HDFC Bank, Axis Bank, and State Bank of India for interest rates starting from as low as 10.6\% p.a. While Union Bank of India levies no processing charges, a few others levy 0.5\% to 3.99\% of the loan amount as processing charges.

Can government employees get home loan?

SBI has launched SBI Privilege Home Loan exclusively for government employees. Individuals who are employees of Central or State Government which includes PSBs, PSUs of Central Government and other individuals with pensionable service are eligible to apply for this home loan.

How much is a downpayment on a 1 crore house?

As the houses in metro cities are priced in the range of Rs 50 lakh to Rs 1 crore, the down payment amount is in the range of Rs 10 to Rs 20 lakh.

Can I take 3 crore home loan?

Salaried applicants can avail up to Rs. 3.5 Crore as Home Loan while self-employed individuals can apply up to Rs. 5 Crore. Know the complete Housing Loan eligibility criteria and documents required for home loan before applying.

Can a government employee take loan?

Are there any home loans for government employees?

Home Loans for Government Employees. Mortgages for Champions is proud to offer special home loans for government employees. With the special loans we offer, government employees are eligible for special rates and have much of the extra paper work, red tape and extra costs reduced.

What is the eligibility criteria for home loan in India?

Home Loan Eligibility Criteria for Government Employees. You should be an Indian citizen. You should be between 23 and 58 years old. You should be a working professional with work experience of at least 3 years. The minimum loan amount that you can avail is Rs.10 lakh and the maximum is Rs 3.5 crore.

Can a government employee get a cash out refinance?

Refinance Programs also provide a cash-out refinance mortgage (for any reason) up to a 85.00\% loan to value. For more information on special home loans for government employees, please fill out the form on this page, or call us at +1 (800) 601-1917.

What are the requirements to get a government loan?

Government workers should have no problems meeting the requirements for loan approval, which include being a U.S. citizen or legal resident who is at least 18, having a provable monthly income, as well as a checking account and valid phone number. If approved, funds can be electronically deposited into your account within one business day.