Bank offers loans for a variety of purposes and for varying tenures.

	Residential Property
Purpose of loan	You can take loans for purchase, construction, extension or renovation of a new house or flat.
Tenure of loan	#Salaried : Upto 15 yrs Self-employed : Upto 10 yrs
Maximum loan eligibility	85% of the total cost of the property

	Plot of land
Purpose of loan	You can take loans for purchase of a plot of land for residential use. This plot must be located within municipal limits. Has to be non agricultural / non farm land.
Tenure of loan	#Salaried : Upto 15 yrs Self-employed : Upto 10 yrs
Maximum loan eligibility	75% of the total cost of the property  subject to the maximum of INR 50 lakh

	Against Existing Residential Property
Purpose of loan	You can take loans by mortgaging an existing residential property for Education, Business, Marriage, Purchase /Improvement of Property, Medical treatment and other uses.
Tenure of loan	#Salaried : Upto 15 yrs Self-employed : Upto 10 yrs
Maximum loan eligibility	60% of the total cost of the property

# For GCC: Tenor between 11-15 years, minimum qualification to be Post Graduate/ Professional Qualification.# For USA and Other Countries: Tenor between 11-15 years, minimum qualification to be Diploma/ Graduate with minimum 3 years of employment abroad and Professional Qualification with 1 year of employment abroad.

*Please Note:- The maximum loan that can be given is INR 1 crore.The minimum loan that can be given is INR 5 lakh.
                        Minimum loan amount for loan against property is 10 lakhs.

Back to top

You can get a home loan ranging from a minimum of Rs 5 lakh to a maximum of Rs 1 crore, based on your repayment capacity and the cost of the property. You will be eligible for a maximum of 85% of the cost of the property or the cost of construction as applicable and 75% of the cost of land in case of purchase of land. To determine your repayment capacity, we take into account factors such as:
· Age 
· Income 
· Qualifications 
· Number of dependants 
· Assets 
· Liabilities 
· Stability / continuity of your employment / business 
· Income of co-applicant/s

Back to top

A co-application is the co-borrower of the loan. A co-applicant is mandatory if you want to apply to our India Home Loan.

Back to top

You can include your spouse as a co-applicant; we will include his / her income to enhance your loan amount. Further, if there are any other co-owners, they too will need to be co-applicants. We’ll need a personal guarantee from you if there’s no co-applicant.

Back to top

You can select a term of up to 15 years. However, you cannot opt for a term that extends beyond your attaining retirement age or 60 years of age (whichever is earlier).
For GCC: Tenure between 11-15 years. Minimum qualification: post-graduate / professional qualification.

For USA and other countries: Tenure between 11-15 years. Minimum qualification: Diploma / Graduate (should have been employed abroad for a minimum period of three years) or Professional (should have been employed abroad for at least one year).

For tenor between 11 to 15 years for GCC: 96,000 Dhms p.a. or its equivalent if the applicant is Post Graduate. 72,000 Dhms p.a or its equivalent if the applicant has professional degree.

For tenor between 11 to 15 years for USA and all other countries: 42,000 USD p.a. or its equivalent.

Back to top

Your loan will be disbursed after you have selected a property; submitted all the necessary legal documents; the property is technically and legally cleared; and you have paid your own contribution toward the purchase of the home. The cheque for the loan amount is drawn in favour of the builder or seller as the case may be. In the case of an under-construction property, Bank disburses loan amounts appropriate to the state of construction.

Back to top

Repayment is done in equated monthly instalments (EMIs), and includes interest and principal amount calculated on monthly rests. You can pay EMIs by issuing post-dated cheques from your NRE / NRO account, or any other account approved by the Reserve Bank of India (RBI). In the case of part-disbursement of the loan, the monthly interest is payable only on the disbursed amount. This is called pre-EMI interest, and is payable monthly till the final disbursement is made, after which EMIs will commence.

Back to top

Yes, you can foreclose the loan before its original tenure expires. You will be charged 2% on the outstanding amount and whatever has been pre-paid in the last 12 months.

Back to top

You will have to send a cheque in Indian rupees favouring Bank Name to your Power of Attorney (POA) holder, along with a covering letter clearly mentioning your application number or LAN number. Your POA holder will have to submit them to any HFC branch in India. Action will then be taken, and a re-schedulement / foreclosure letter sent to your mailing address as mentioned in our records.

Back to top

You can submit your application form and other details online. In addition, you’ll also get to know the details of the loan, including the amount you’re eligible for, tenure and interest rate. You can also track the status of the loan application submitted online.

Back to top

The steps involved in the online application process are:

· Click on Apply Now / Apply Online option given on our web site 

· Fill in personal and loan details on the form that appears

· You have the option of either downloading the form and filling it by hand or doing it online and then taking a print-out of the completed form

· In either case, you have to sign the application form, attach the relevant income and personal documents and send the entire set to Bank mailing address

· Please note that the accuracy of the loan details (amount eligibility, amount, tenure etc) you get after you submit the online application will depend on how correctly you’ve filled in the required information

· The information you’ve submitted online will need to be supported by valid documents at the time of submission to actually avail of the loan

Back to top

The online and physical application forms are exactly the same, and ask for the same information. The difference is in the way details are filled in.
· In the physical form, you fill in the details by hand 
· The online application form is divided in two parts: 
       - The data input form: This is the form that accepts application data online 
       - The printable form: This is similar to the downloadable loan application form, the  difference being that you can input details in it and take a print-out. All you need to  do then is sign on the relevant parts of the form 

The data input form, as mentioned above, looks different from the downloadable / physical form only while inputting data online. All the contents are the same as that of the physical / downloadable form.

Back to top

Once the completed form is submitted online, an online submission confirmation letter is displayed on the screen instantaneously. This letter contains:

· Application Number: This number is valid throughout the loan application and disbursement process. All online application numbers start with 999 

· Eligibility: Your loan eligibility based on the details on the form 

· Documentation Documents to be submitted along with the physical form 

· Charges: Administrative fees payable. These vary according to the loan applied for and the eligibility norms 

· Next Steps: This includes the address to where the documents need to be sent

Back to top

No. The loan is sanctioned only when Bank receives and assesses the actual physical loan application documents. The eligibility mentioned in the submission letter is only indicative; the final decision will be taken only when we actually get the physical documents.

However, it does give you a good indication of what you’re eligible for. In fact, the faster you send your documents, the lower the chances of changes.

Back to top

The data that you have entered in the form will be lost. You’ll have to fill in the details again.

Back to top

You have to complete the required documentation mentioned in the letter and send it to the address that’s given there. You also have to attach a copy of the submission confirmation letter for reference. The loan application is processed only after Bank gets the physical documents. 

Back to top

For the details you can contact at info.genesis@in.com:

Back to top

No. The online tracking facility is available only for applications that are submitted online. You cannot see the status of other applications

Back to top

Depending on the current status of your application, you can check the following: 
· Documents to be received: This means Bank hasn’t received the physical loan application set 

· Discrepant: This means we’ve received the loan application set, but it’s either incomplete, or there’s a discrepancy in the documents. The discrepancy is updated against the status field for reference. You can get in touch with us atinfo.genesis@in.com or through any of number provided on the site for clarifications 

· Received: This means we’ve received the loan application set, it’s in order and the loan is being processed

· Approved: This means that the loan has been sanctioned. Sanction details are given against this status field.

· Rejected: This means Bank is unable to offer you a home loan.

· Expired: The tracker gives you an `expired’ message if you check the application status six months after the date of application. You’ll have to reapply to get a loan from Bank 

· Invalid: This means you haven’t entered the right combination of loan application number, passport number and date of birth in the tracker. You will have to enter the correct data (in the proper format) to get the loan status.

Back to top

You can call us on our toll-free lines or email us at info@.com

Back to top

There is no extra charge for online applications. You’ll only have to pay the rates / charges applicable to general NRI loans.

Back to top

You'll be charged a total fee of 1.1224% of the loan amount in Indian rupees, payable at the time of submission of the application form. This includes: 

Processing / administrative fees: 1% of the loan amount in Indian rupees (rs.).

Service tax: 12.24% of the processing / administrative fees. 

The payment should be made through a single cheque / draft, in INR only. It should be dated in the DD/MM/YYYY format, payable to Bank Name AF for HL - A/c of <name of customer>', and given at the time of application.

Back to top

You’ll need to provide security of the property and/or any other additional collateral security as may be mutually agreed upon.

Back to top

Customers click here for list of documents

Back to top

Floating Rates: Depending on the movement of interest rates in the market, the interest rate for the loan is reset at the beginning of every quarter, i.e. January 1, April 1, July 1 and October 1. The rate is reset with reference to the Home Loan Prime Lending Rate prevailing on the dates of the respective resets. When the rates are reset, customers have the option of either adjusting their loan installment or the loan tenure, subject to the overall restrictions on the loan tenure.

Back to top

An NRI is an Indian citizen who stays outside India: 
(a) for purposes of carrying out employment or any business or vocation; 
(b) under circumstances indicating an intention to stay outside India for an uncertain 
duration; 
(c) any Indian citizen deputed outside India for a temporary period in connection with employment.

Back to top

Back to top

You need to give the address in India where you / your immediate family live, and where you may want to receive correspondence on your India Home Loans. This is a mandatory requirement. If your co-applicant (spouse, siblings, parent) has the same residential address in India, you can select the option ‘Same as Applicant’ and the relevant fields will be filled automatically, saving you the trouble of doing it all over again! 

Back to top

You need to give the permanent address in India where you / your immediate family live and where you may want to receive correspondence related to your India Home Loans. This may be the same as the residential address in India. Since we need it to do a credit verification, it is a mandatory requirement. If your co-applicant (spouse, siblings, parent) has the same residential address in India, you can select the option `Same as Applicant’ and the relevant fields will be filled automatically, saving you the trouble of doing it all over again!!

Back to top

We need your employer or business details for credit verification purposes. Even though this is not a mandatory requirement, your home loan in India will be sanctioned faster if you fill in these fields.

We also need your official email ID to write to you in case we can’t get in touch with you through other means. You have to give us your personal email ID and not company’s generic email ID. So, the email ID should be yourname@company.com (e.g. rinkee.rani@hotpropertiesgurgaon.com).

Back to top

A power of attorney is a resident Indian appointed to act on behalf of all the applicants through an execution of the General Power of Attorney (GPA) deed. It is mandatory for both the applicant and co-applicant execute the GPA in favour of the person concerned. If the co-applicant is a resident Indian, he / she can also be the POA through the execution of the GPA by the applicant.

Back to top

A guarantor guarantees the loan you take. Only an NRI can guarantee an India Home Loan taken by another NRI. It’s mandatory to have either a co-applicant or an NRI guarantor.

Back to top

References help us get in touch with you when we are unable establish contact with you overseas. It is mandatory to provide resident Indian references while applying for India Home Loans. One of the references has to be a resident Indian relative. One of your references can also be your POA or resident co-applicant.

Back to top

Providing details of proposed property purchase enhances your credibility and expedites the loan sanction process. If you are planning to buy a plot of land, we highly recommended that you tell us the location of the plot of land. Providing the ownership pattern of the proposed property also helps us expedite your loan sanction.