Loan Policy

 

Key Features

The main aim of Akme Star Housing Finance Limited is to provide financial assistance for one of the basic needs that is shelter. We believe in serving the society in such a manner that whosoever comes to us; we help them with our full support according to their requirement. We follow the principle of ‘A friend in need is a friend indeed�?with strict guidelines and procedures as let down by National Housing Bank. A person who is taking the home loan from us must be capable enough to repay the amount. We track a complete KYC of the respective people who desire to get financial aid from us. Our major customers are based in rural areas which enable us to achieve our aim “A home for each individual unit of family�? This tendency helps us to fulfill our objectives.
 

Benefits

Any Individual / Group or Company can avail lot of benefits as being the customer of Akme Star Housing Finance Ltd. Some of them are:
  • Complete Transparency in our system and agreement with the customer.
  • Easily accessible and approachable
  • Fast & Quick Processing of Loan and Disbursement of amount.
  • Easy payment of installment by the customer through various modes such as ECS, NEFT, Cheque, Cash.
  • Competitive Rates and Better facilities for rural people.
  • Loan Tenure ranges from 5- 15 years but can be extended depending upon the customer’s profile.
  • The company lands in the band of 70% - 80% of the agreement amount of the property to the borrower.
  • Tax Benefits can be easily availed on our home loan scheme as directed by National Housing Bank and Government of India.
  • Last but not the least, No prepayment charges for preclosure or foreclosure of loan account for individuals paying out of their own sources.
 

Eligibility and Requirements

Eligibility
  • Any individual / Firm / Company looking to achieve objectives for building flat/ house/ society etc for anyone especially needy people.
  • Any individual / Group capable to support their cause of loan.
  • Irrespective of class, creed and color.
  • Capable enough to repay the loan in easy EMI.
 
Requirements
  • 1. Fully filled and duly signed Application Form
  • Borrower’s Address Proof
  • Borrower ’s Identity Proof
  • Photo of Borrower / Co-Borrower
  • Bank Statement of Last 6 Months
  • Post Dated Cheque of Co-Borrower
  • Income Proof/ IT Returns of Borrower
  • Original Property Documents
  • Search Report
  • Valuation Report
  • Guarantor Address Proof
  • Guarantor Identity Proof
  • Guarantor Photo
  • Guarantor Income Proof / IT Returns
  • Guarantor Cheque
  • MOA & AOA / Director Resolution (In case of Companies)
  • Partnership Deed / Authority Letter (In case of Partnership Firm)
  • Financial Statements If required.
 

Loan Process and Disbursement

We take minimal time for approval of loan and its processing. As soon as the customer hands over all of his and Co-Borrower’s / Guarantor’s relevant documents, we pursue our procedure of KYC, AML and other policies for complete verification of the documents. Subsequent to our satisfaction (as suggested by our Valuer, Lawyer and Field Staff); we disburse the loan amount in the name of borrower by A/C payee cheque only.
 

Interest Rate and Charges

Our interest rates are completely based on the prevailing money market situation. The administrative committee regularly review and update the interest rates and various charges depending on the market scenario. Each loan account is assessed based on various specifications like KYC of customer, tenure, loan amount, repayment schedule etc. Even than our rates are very competitive and presently we are operating in between the band of 10% to 15% p.a. As per the guidelines directed by NHB, the company follows each and every principle. The customer/borrower has been made aware regarding all the charges before signing any agreement with the company.