Loan for buying a Flat in Kolkata
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November 30, 2012 at 7:21 pm #68204unknownParticipant
I am a West Bengal Govt. Employee. I want to buy a flat at Kolkata costs of which is Rs. 25 lacs.
How much can I get as a loan from Bank and how much I have to down payment? Please guide me, whether I can get GPF advance or not. My service length is 6 years.December 1, 2012 at 1:34 am #75732unknownParticipantYou cannot get non-refundable advance from GPF as your total service is less than 15 years. You may contact with various Banks for having House Building Loan as a State Govt employee and there are separate Govt. Orders for separate Banks regarding the subject matter. However the following links may help you to get a detail information in this regard.
https://wbxpress.com/housing-loan-scheme … -employee/
https://wbxpress.com/housing-loan-scheme … -interest/
https://wbxpress.com/further-house-build … ized-bank/December 1, 2012 at 7:08 am #75745unknownParticipantLoan entitlement is assessed as follows:
Least of the Following:
(1) 80 – 90% of the property value.
(2) On the basis of monthly income-
If Gross Monthly Income (GMI) upto Rs.50,000/-: loan amount is 60% of GMI.
If GMI above Rs.50,000/- and upto Rs.1,00,000/-: loan amount 70% of GMI
If GMI above Rs.1,00,000/-: loan amount is 75% of GMI
(3) 60 times of net monthly income (after all deductions).
Anyway, amount of admissible loan is generally taken as 55 times (average) of the take home salary. However, the actual amount depends on age of applicant(s), loan term (tenure), other financial liabilities etc.December 2, 2012 at 3:52 pm #75758unknownParticipantthanks very much.
1. 20 lacs
2. 21k.
3. 15 lacs
i think 2. is error. is it 60 times?
my age is 34. so i must compromise. my gpf balance is 3 lacs. no other source of income. please suggest me a good option.December 4, 2012 at 3:55 am #75834unknownParticipantKnow your loan entitlement at different financial institutions:
http://www.apnapaisa.com/loan/home-loan … 6wodW0EAww
… 55327FAAAADecember 4, 2012 at 5:02 am #75838unknownParticipantDear Mr Ghosh,
It’s better for you to go and have a visit to your salary paying branch as they are the best suitable bank from where you can deal the best offer in respect of percentage as well as loan amount.
Most of the public sector banks providing loan on daily reducing balance but the most of the private sector banks don’t. Similarly penalty less pre payment of loan amount also available at the public sector banks.December 8, 2012 at 2:06 pm #75900unknownParticipantplease suggest the amount first.
December 8, 2012 at 3:18 pm #75905unknownParticipantDear akghosh,
there are two ways, if you go through the govt you will get 60 times of your basic salary and dont need any down-payment. Else you may go directly to the bank and may get 60 times of you net salary with 15% down-payment (i mean the amount you need to have in your account when you apply for the loan)
For GPF you can take 75% of the deposited money as loan and you have to refund it in 24 installments.
Hope this will help you
Regards,
digitaldocDecember 8, 2012 at 3:41 pm #75906unknownParticipantFor GPF you can take 75% of the deposited money as loan and you have to refund it in 24 installments.
Are you talking about Special Advance?
Will it be admissible for house building?December 9, 2012 at 10:25 am #75912unknownParticipant@ som
Perhaps our friend akghosh wants to know if he can take loan from GPF to arrange for the down payment. Therefore, i wrote down that. He may get that showing any other reason although GPF refundable loan / advance for buying house is admissible to an employee once in a service life. -
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