ING Vysya Bank Ltd is a premier private sector bank withrnretail, private and wholesale banking platforms that serve over two millionrncustomers. With 80 years of history in India and leveraging ING’s globalrnfinancial expertise, the bank offers a broad range of innovative andrnestablished products and services. ING is a global financial institution ofrnDutch origin offering banking, investments, life insurance and retirementrnservices. The bank was formed from the 2002 acquisition of an equity stake inrnIndian Vysya Bank by the Dutch ING Group. This merger marked the first betweenrnan Indian bank and a foreign bank. Prior to this transaction, Vysya Bank had arnseven-year old strategic alliance with erstwhile Belgian bank Banque BruxellesrnLambert, which was also acquired by ING Group in 1998. rn
ING Vysya provides home loans for constructing a home,rnpurchasing a ready built house/flat, or even for refinancing existing loans. Wernoffer you a bundle of benefits on Home loans to ensure that you realize yourrnlong cherished dream of owning a Home. ING Vysya provides up to 80% of totalrncost of the property as loan. EMI is calculated on a monthly reducing balancernmethod. They offer flexible repayment options to opt for making repayment easyrnfor the borrower.
This scheme allows borrower to avail a loan to purchase arnplot of land and construct a dwelling on the same. Borrower can avail samernbenefits on this scheme as of other home loans. This provides flexibility tornborrower to buy a site of their choice and construct their dream house.
rn Salariedrnemployees aged 23 and above on application; and aged 60 or retirement age,rnwhichever is sooner, at loan maturity.
Self-employedrnprofessionals and businessmen above 25 years of age; and aged below 65 years,rnat loan maturity.
Minimum Gross Annual Income:
- SalariedrnEmployees Rs.2,00,000 Self-employedrnProfessionals Rs. 1,00,000
- Self-employed Businessmen Rs 1,50,000rn
- Self-employed Businessmen Rs 1,50,000
There are other factors that arerntaken into consideration by bank to decide eligibility. Borrower’s loanrneligibility depends on various factors like Income, age, stability, borrower’srnassets and liabilities, etc
ING Vysya providesrnhome loans starting from 5lacs upto 3 Crores depending on the location of thernproperty. rn
Tenure: Minimum 5 years and Maximum 20 year
NRI Home Loans:
ING Vysya offers variety of home loans to Non ResidentrnIndians and Persons of Indian Origin allowing them flexibility to invest in arnproperty and purchase a house where rntheir heart is, their ownrncountry. NRI Home Loans are offered tornNRI's/PIO's for the purchase, construction, repair /renovation /alteration of arnhouse or a composite loan.
Minimum amount of the loan is Rs.rn5 Lacs and Maximum amount is Rs. 300 depending on the location of the property.rnThere are other criteria based on which loan amount is decided by the bank.
- Shouldrnhave attained the minimum age of 18 years at the time of application. The agernshould not be more than 60 years at the time of loan maturity.
- Shouldrnhave a valid Indian Passport with ECNR and wherever NRI is appearing in personrnfor submitting the application the passport should have the entry visa.
- Shouldrnbe a Salaried NRI working in Management Cadre or above, in a Government/reputedrnPrivate/MNC company abroad and drawing a regular salary of not less than USD.rn60,000 p.a. or UAE Dirhams 60,000 p.a. and should have already garnered arnminimum work experience of 3 year overall (domestic + overseas experience).
Types Of Property Included For Financing Properties In India:
- rn Allottedrnby Government / Government Bodies like Development Authority / Corporation /rnDistrict Town and Country Planning Department.
- Approved by Government/ Government Bodies likernDevelopment Authority / Corporation / District Town Planning and CountryrnDepartment initially developed and sold by Registered House BuildingrnCooperative Society or Private Developer of repute, after due conversion fromrnthe concerned Local Government Body/Authority.