Home Loan from TIDC
TIDC Ltd. has introduced Home Loan facility for construction of residential house or purchase of flats/housing unit only for regular State Govt. employee of Tripura w.e.f. 1st April 2017.
» Special features:
» No processing fees.
» Getting a home loan from TIDCL is quick, easy, transparent and no hidden charges.
» We offer higher eligibility and lower EMIs at attractive interest rates.
» Hassle free repayment through NACH mandate.
» Best Rate of interest in the market.
|Borrower’s category||Floating rate Loan upto
Rs. 30.00 lakhs
|Floating rate Loan upto
Rs. 75.00 lakhs
|Floating rate Loan above
Rs. 75.00 lakhs
|Women||8.10% p.a.||8.25% p.a.||8.40% p.a.|
|Others||8.15% p.a.||8.30% p.a.||8.45% p.a.|
Interested borrowers may visit TIDC’s office at Khejur Bagan, Kunjaban, Agartala during office hours on any working days for further information.
Home Loan Terms and conditions
» Loan Amount: Maximum permissible loan amount would be determined by maximum serviceable EMI capacity (depending upon the tenure of loan), which may be calculated as 60% of Gross Annual Income (after deduction of statutory payment like TDS, ESI, PF, Professional Tax etc.) less previous annual loan repayment (if any) divided by 12.
» Security: Mortgage and hypothecation of the property.
» Interest: As decided by the Board from time to time.
» Repayment Mode/Period: Deduction from the monthly salary. Maximum repayment period: 20 years or upto the age of Superannuation age.
» Margin/LTV Ratio: (LTV ratio: Loan to value ratio.)
|Individual Home Loan Amount||Margin (Min.)(%)||LTV Ratio (%)|
|Upto Rs. 30 Lacs||10||90|
|Above Rs. 30 Lacs. and upto Rs. 75 lacs||20||80|
|Above Rs. 75 lacs||25||75|
» Deed of Agreement is to be made on a Rs. 50/- Non-Judicial Stamp paper.
» Processing Fees: No processing fees**.
» In the event of premature/untimely death, the amount may be realized from the financial benefits of the employees concerned. If the amount remains unrealized, the same may be realized by selling the mortgaged property built/ purchased by the loan.
» The land where the house is to be built/flat or ready built house to be purchased may be in the name of self/spouse.
» Home loan Insurance: The loanee has to insure the loan amount by availing insurance policy in his or her name compulsorily, keeping TIDC as a nominee to secure the family members of loanee against any kind of eviction from the property for the realization of dues in any unforeseen event/untimely death of loanee.
» Property Insurance: The loanee has to insure the property against any kind of damage by fire, earthquake, flood etc. by availing general insurance policy in his or her name compulsorily keeping TIDC as a nominee to secure the property in any unforeseen event.
» Utilisation of the loan: The amount of the loan shall be utilized strictly for the purpose for which it will be sanctioned and disbursed. The construction of the house/flat or the modification/extension proposed by the borrower in the existing house/flat should be strictly according to the plan approved by the Local Competent Authorities.
» Inspection: TIDC shall have the right to carry out an inspection of the borrower’s property, at all reasonable times, the by an officer of the Bank or a qualified auditor or a technical expert as decided by TIDC during the currency of the loan. The cost of such inspection shall be borne by the customer
1) Actual charges for the following will be payable by the customer
I. Advocate's fee for property search and the title investigation report.
II. Valuer's fee for valuation report.
i. Stamp duty payable for Loan agreement & mortgage.
ii. Property insurance and Home loan Insurance premium.
iii. Mortgage creation Registration Fee on actual basis.
Fees paid to TIDC’s empanelled advocate and valuer for their professional services will not be refunded even if the loan is not sanctioned for any reason. TIDC retains the right to modify any charges or fees from time to time or to introduce any new charges or fees, with due intimation to the customer.
Applicable documents along with completed loan application form
» Proof of identity (Self attested photo copies of Passport/ Driving license /IT PAN/ Voter’s ID Card etc.).
» Proof of identity residence (Self attested photo copies of Passport/ Driving license /P.R.T.C. /Electricity Bill/ Voter’s ID Card/Telephone Bills/Property tax receipt etc.)
» Detailed estimate and plan for building to be constructed along with necessary approval from competent authority ( if applicable)/ Documents related to flat to be purchased.
» Copy of the Title Deed(s) , Khatian(s) and Land valuation certificate(s) of the collateral security being offered along with upto date Non- Encumbrance Certificate.
» Photo(s) of applicant’s and Co-applicant’s (Two Copies each).
» Statement of Bank account/Pass Book for last six months.
» Original Salary Certificate from employer.
» TDS certificate on Form 16 or copy of IT Returns for last two financial years duly acknowledged by IT Deptt.
» Age proof, Service proof .
The checklist is only indicative and not exhaustive and depending upon the requirement addition could be made as per necessary.