You can avail a maximum loan amount which is 75% of the cost of the property, which includes cost of land, cost of the building and cost of registration, whichever is lower.

The loan quantum that you would be eligible will depend on the your repayment capacity as determined by Vizag Loans. Repayment capacity will be considered after assessing your income, age, qualifications, work experience, number of dependents, spouse's income, stability of income and employment, assets, liabilities, etc.

It's very simple ! Vizag Loans has 67 branches across the country. Just check the branch nearest to the location preferred by you for a house and send in your application for the loan with all the details asked for in the brochure along with the prescribed fee and our officers will get in touch with you soon.

For detail information Contact our nearest Branch

Normally, the spouse is the co-applicant for the loan

Interest is calculated on daily reducing balance basis.

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The loan repayment duration will normally be in the range of 5 to 30 years.

The loan is to be repaid in Equated Monthly Installments (EMI) comprising of both principal and interest. EMI is to be paid every month and will commence from the month following the month in which your loan is fully disbursed. Till such time the loan is fully disbursed, interest on the loan amount that has been disbursed is to be paid every month. This interest, called Pre-EMI is payable by the end of every month. EMI and Pre-EMI payments are to be made through salary deduction or post dated cheques.

Security to the loan will be the mortgage of the property being financed normally by way of equitable mortgage i.e., by way of deposit of title deeds. Personal guarantees or collateral security acceptable to the company could also be asked.

After the loan is sanctioned, you have invested your own contribution, the technical evaluation of the property has been done and the documentation formalities are completed, the loan installment will be released.

The loan will be disbursed in stages depending on the progress in construction and the agreement entered into with the builder. Normally, the disbursements will be made in three to four installments. If the loan is for purchase of a ready built house, disbursement will coincide with the registration of the property in your name.

The loan will have to be availed within 3 months from the date of sanction if the purpose of loan is for purchase of a ready built house/flat and within 14 months if the purpose of loan is for construction or 36 months for a composite loan.

Yes, you can pre-close the loan subject to the rules prevailing from time to time.