| Front
End Charges |
| 1.8% of
loan amount (Discount for existing customers 0.5 %,
PowerVantage customers 0.75 % and 1% for HSBC Premier
customers and 0.8% for NRI customers) |
| Eligibility |
|
Age
|
Minimum
age of applicant / guarantor - 21 years Maximum age of
applicant / guarantor - 58 years for salaried (60 for Govt.
employees), 65 in case of self-employed at the time of loan
maturity |
|
Residential Status
|
Applicant
should be buying a house and must be residing within the city
limits of areas where HSBC operates. |
|
Borrower
|
Individual
wage earner or self-employed. Due to tax advantages many
self-employed purchase properties in their business' name i.e.
Proprietorship or Partnership. We will consider applications
made in these entity names. |
|
Co-applicants / Guarantor
|
All
joint owners of the property necessarily have to be
co-applicants and will sign all legal papers. |
|
Income Requirement
|
Net
income of applicant should be greater than Rs. 150,000. A
maximum of 2 incomes of joint applicants can be clubbed to the
income of the applicant. Clubbing of income is allowed only
for spouse or parent as far as it is part of the household
income. |
