Eligibility

Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners.

Specific eligibility criteria are as follows :

For salaried individuals:

• Minimum gross annual income should be Rs.1.44 lacs.
• Minimum of 21 years of age.
• 60 years or your retirement age, whichever is earlier at the time of loan maturity.
  

• Minimum annual income should be Rs 1.44 lacs as per the P&L.
• Minimum gross annual income should be Rs 1.44 lacs
• Minimum of 21 years of age.
• 65 of age at the time of loan maturity.
• Firm/company should have been in operation for the last 3 years.
• Firm/company should be making cash profits for the last two years.

• Minimum annual income should be Rs 1.44 lacs as per the P&L.
• Minimum of 21 years of age.
• 65 of age at the time of loan maturity.
• Firm/company should have been in operation for the last 3 years.
• Firm/company should be making cash profits for the last two years.

Documentation

For the purpose of Credit Appraisal you will need to furnish along with your completed applications,

• Your income documents and bank statement
• You address and age proofs

Other Benefits

When you take a loan from us you will find other unbeatable benefits that only Alphazee Home Finance can offer.

• Free Personal Accident Cover (including death and dismemberment) with every Loan.
• Simple documentation and speedy processing
• Convenience of paying through Post Dated Cheques as well as Direct Debit to your Kotak Mahindra Bank Account

Call A Finance Advisor

Alphazee Finance Advisors are always available to help clarify any queries that you may have on Home Finance. You can reach them by phone or even mail them your queries and be assured of prompt and accurate solutions that suit your need.

For any clarification write to us at..

You can email us at alphaze@gmail.com

You can Call us at Telefax 044 2445 5551 / 2, 2454 3000/1.

FAQ

What is the maximum amount I can borrow?

You can borrow upto 85% of the cost of the property. However in case of an existing property you can borrow upto 55% of the cost of the Property.

How will my Loan eligibility be determined?

Your repayment capacity as determined by Alphazee will help decide how much you can borrow. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, savings history and stability and continuity of occupation.

In how many years can I repay the loanamount?

You can opt for a loan period of upto 20 years, which can vary depending on the purpose of the loan and your profile.

Can I get the benefit of reduced interest rates in the intervening period or the during the balance tenure of my loan?

Yes you can, but only if you have opted for the Adjustable Interest Rate being offered by Alphazee.

When will the loan be disbursed?

You can take the disbursement after technical and legal appraisals of the property have been done, and you have utilized your own contribution amount towards the property. ’Own contribution’ is the difference between the cost of the property and the Loan amount.

Does the agreement for sale have to be registered?

Yes, very much so. In many states in India, the Agreement for Sale between the builder and the purchaser is required by law to be registered. You are advised, in your own interest to lodge the Agreement for Sale at the office of the Sub-registrar appointed by the State Government under the Indian Registration Act, 1908.

Does the property have to be insured?

Your home is your pride and joy. Don't let unplanned events take it away. Property Insurance will take care of home in case an unforeseen event strikes. That way, you'll always have peace of mind knowing that you and your loved ones will be assured of a roof over their heads.

What kind of security is required?

In most cases, the property itself, bought or intended to be bought, becomes the security till the entire loan is repaid. In some cases additional security such as life insurance policies, or FD receipts of Kotak Mahindra Bank (if available) can be provided.

Can I repay the loan ahead of schedule?

Yes. You can repay the loan ahead of schedule. An early redemption charge is payable as applicable