Table of Content
The prime reason for such purchase is that it is a sound investment, providing handsome dividends by a steady appreciation of the property value. Canfin has just such a tailor-made scheme for high net-worth individuals who have a discerning taste in the form of Individual Housing Loan Super. It has all the features similar to the other housing loans, but the interest is comparatively higher.
The checklist for documents required for Housing loans, Non Housing loans and Deposits indicates all the necessary documents that are required for the loan process. Please keep all the documents handy as per the list for a hassle-free loan experience. The company said it has held Rs 72.89 crore worth of provision, which is more than required, in accordance with RBI guidelines relating to COVID-19 regulatory package.
Can Fin Home Loan Details
The above Can Fin rates of interest are offered on floating basis. In combo home loans, the rates are fixed for first three months and shift to floating rates thereon. Also, the rate is fixed for 7 years after the request for refinance. It is fixed for the first three years and gets automatically converted to the floating rate after the expiry of this period. Other than this loan there is also a provision of Commercial Housing Loan for such customers.
Salaried, professionals, non-professionals, NRIs & pensioners can apply. After 3 years, ROI will switch to prevailing floating rate for residual amount. Customers with good payment record will be eligible for top up & personal loan. Salaried, professionals, self-employed non-professionals, NRIs or pensioners can apply. Customised CanFin home loan schemes for ready to under construction properties. You are just a few clicks away from the best Home Loan offer in your city.
Can Fin Homes Q3FY22 net profit declines 12 per cent yoy
Additionally, you have Housing.com at your service, providing you with the money for an array of home loan solutions. Takeover or balance transfer of Housing Loan in other financial institution subject to Canfin Policy. During the last 5 years, there has also been a shift towards the self-employed and non-professionals in an attempt to broaden the client base. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Gross NPAs stood at ₹19.76 crore amounting to 0.19 per cent of the loan book.
The company, as on date, has 193 Branches, 21 Affordable Housing Loan Centres & 12 Satellite Offices spread across various locations of the country in 21 States & Union Territories, total 205. All these branches and satellite offices are linked to the Registered Office at Bangalore through a core banking platform. Being a south based company, 70% of its branches are located in southern India. Canfin Homes Loans Limited boasts of rewriting the contours of direct funding of home loans. It was the first Housing Finance Company in the country sponsored by a public sector bank. It was established in the year 1987, significantly in the International Year of Shelter for the homeless.
Home Loan Interest Rates
As at December-end 2021, the outstanding loan book was up 19 per cent yoy to stand at ₹25,091 crore (₹21,004 crore as at December-end 2020). Disbursements jumped 123 per cent yoy to ₹2,472 crore (₹1,106 crore). Revalidation FeeRs 500Pre-closure chargeNILPrepayment charges NIL for up to 10% of the opening principal balance in a financial year. Repayment tenure- 30 years, subject to repayment age of 70 years. We provide a wide range of medical insurance plans that cover medical risks to protect your financial plan and savings.
Canfin is headquartered at Bangalore administering five clusters at Bangalore, Chennai, Hyderabad, Delhi, and Mumbai. They have an extensive network in a PAN India level to cater to the diverse cross – section of our society with affordable home loans. Canfin has 54 branches, 21 Affordable Housing Loan Centers, 14 Satellite Offices, 189 outlets spread over 100 cities in 21 States and Union Territories. The lender will assess credit history, income documents and financial health of the co-borrower.
Individual & Family Wealth Services
I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. Many NRIs provide for their parents and look at it as a safe shelter in India. To top it, there is a healthy trend in the appreciation of the value of the property.
The company said it will raise the funds in one or more tranches for a period up to the date of the annual general meeting of the current fiscal year. As a first step, a look at applicable Canfin interest should be of interest to the prospective clients getting a feel of the cost of capital, so that there can be a comparison with the peer groups. The largest chunk of Canfin home loan portfolio is held by the salaried class and professions.
The home loan tax benefits are applicable as per Income Tax Act 1961. The maximum loan amount will depend on the value of the property. Can Fin Home Loan approves home loans up to 90% of the project cost. Apply for instant home loan online at Interest Rate starting from as low as 8.00% p.a. The loan can also be applied for construction, renovation or extension of house/ flat.
Can Fin Homes, the housing finance company sponsored by Canara Bank, has more than doubled its net profit for the March quarter on higher income. The housing finance company’s net interest income declined about 2 per cent yoy to ₹206 crore (₹210 crore in the year ago quarter). You can apply for Can Fin Home Loan online or offline as per your convenience. The home loan application form can be downloaded from bank website and submitted along with required documents to the nearest branch. More convenient option is applying online for Can Fin Home Loan and uploading the required documents. In digital application, the loan will be approved and sanctioned online.
The tenure for Can Fin Home Loan will vary from 5 years to 30 years. The Can Fin Home loan amount is calculated as a percentage of market value of property. To help you compare home loan EMIs for Canfin Home Loan, sharing below EMI Calculation for Rs 10 Lakh to Rs 70 Lakh amount for 10, 20 & 30 years at lowest rate of 9.25% p.a. Purchase, repair or construction of ready to move home or under construction residential property. Other features & benefits are same as regular individual home loans. The Can Fin loan amount varies from 75% to 85% of property value.
For the year-ended March 2016, Can Fin Homes’ net profit grew 82 per cent to ₹157.11 crore compared to ₹86.24 crore in the corresponding period last year. Income for the year grew 33 per cent to ₹1,083.54 crore from ₹817 crore earlier. Net profit rose to ₹47.45 crore for quarter ended March 2016 as against ₹22.89 crore in corresponding quarter last year. Income for the quarter grew 30 per cent to ₹295.27 crore as against ₹227 crore in the corresponding quarter previous year. The lender will also assess existing assets & liabilities of main applicant as well as co-applicants. The applicants should hold legal proof for age, qualification & ownership of property concerned.
No comments:
Post a Comment