Capital First Bank plot loan

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Capital First Bank plot loan features

Plot Loan Interest Rate 9.0-11.50%
Processing Fee Rs 2500 – Rs 5000
Maximum Loan Amount Up to 90% of property value
Maximum Loan Tenure Up to 20 years
Lowest EMI Per Lakh ₹ 649 for 30 years

Eligibility Criteria for the Capital First Bank plot loan

  • Only Managers and Company Organizations
  • Micro Minor and Average Enterprises
  • Salaried and Self-Employed Professionals
  • For Self-employed at least 2 years in business and for salaried individuals have 3 years of work experience
  • At the time of maturity minimum of 23 years of age and a maximum of 70 years of age or retirement
  • Clear investment and loan reimbursement history
  • A decent credit score in the credit bureau
  • Loan Amount 5 Lakh to 25 Lakh
  • Loan Tenure Maximum of 20 years
  • No Prepayment Charges
  • Processing Fees- For 10 lakhs the charge is Rs. 2,500 and Rs. 5,000 for amounts greater than Rs. 10 Lakhs.
  • The rate of interest is 9.00% – 11.50%

Capital First Bank plot Loan Benefits

capital first bank plot loan

  • The rate of interest for the capital first bank plot loan is comparatively low.
  • Capital First bank’s loan amount is up to 90% of the cost of the property.
  • Capital First bank plot loan offers elastic loan tenancy of 25 years.
  • The applicant can also exile their home loans at 0 total ability.
  • Capital First also allows its customer to balance the transfer of an existing home loan from another bank to Capital First.
  • Capital First bank plot loan provides you home loan for the purchase of plots, Home development, home revamp.

Plot Loan

Capital First Bank offers plot loans to both salaried and self-employed people with an Indian nationality, Capital First Bank plot loan can be used for buying any land within India.

1. Tenure

The time for the Capital First Bank plot loan is 20 years.

2. Prepayment Fine

A prepayment fee is a nil

3. Loan to Value Ratio‭ (‬LTV‭)‬

The LTF is 70% – 90%.

4. Tax Benefits

There are no tax benefits in Capital First Bank plot loan.

Capital First Bank Plot loan with Construction vs Home Loan

Parameters Plot Loan with Construction Regular Home Loan
Tenure ‬Up to 15‭ ‬years Up to 30 years
Prepayment fine Free Free
Loan to Value (LTV) up to 10.24% up to ‬90%‭
Plot with Construction Loan interest rates The rates are similar to a home loan but can go higher. Start at 6.80%*
Tax Benefits Eligible after the construction of a building or home on the plot Home loan owners are eligible.

Capital First bank plot loan for self-employed individuals

Salient Features

  • Self-employed individuals can apply for this loan.
  • Buy a plot that’s already on sale.
  • Buying a plot through a direct share in a covering society or a creator scheme
  • Transfer his/her unresolved lending amount availed from another economic organization
  • Modified reimbursement choices offered to the debtor liable on the loan amount, loan tenancy, and rate of interest provided by the bank.
  • Striking rates of interest obtainable on the plot loans to make it reasonable for the candidates.
  • No unseen costs charged on the lend.

Who can apply for Capital First bank plot loan self-employed?

Persons can apply for this lend on their personal or together. People for the plot loans must be the planned proprietors of the plot. Co-applicants usually include household members and need not be co-owners of the stuff.

Loan term

  • The maximum tenure is 15 years.
  • The loan term depends on the reimbursement system the candidate has chosen for.
  • The client’s outline, age of the plot at the period of lend prime of life, age of the client at the period of loan maturity also play a role in determining the loan term.

Maximum loan amount

Loan Amount Maximum Funding
Up to Rs.30 lakh 80% of the property price*
Rs.30.01 lakh to Rs.75 lakh 80% of the property price*
Over Rs.75 lakh 75% of the property price*

The maximum backing of the loan can be limited to 70% of the stuff cost if the property is located outdoor city bounds.

Type of Capital First Bank plot loans self-employed:

TruFixed Home Loan – 2/3 Year Fixed Rate Variant

Under the Tru Fixed Home Loan, the candidate can benefit a secure rate of up to 2/3 years, totaling up to an entire 15-year loan period.

Adjustable-Rate Loan

The rate of interest on the loan is revised every three months. An increase in the rate of interest will result in an upsurge in the EMI’s interest component which in turn will reduce the principal component. 

Capital First Bank Plot Loan Interest Rates For self-employed professionals

Adjustable Home Rate Loan

The Retail Prime Lending Rate for self-employed professionals stands at 16.20%

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

The interest rates are applicable only for loans under the Adjustable-Rate Home Loan Scheme of Capital First and can be revised at the time of disbursement.

Tru Fixed Loan – 2 Year Fixed Rate Variant

The Retail Prime Lending Rate (RPLR) stands at 16.20%

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

Capital First Bank plot loan interest rates for self-employed non-professionals

Adjustable-Rate Home Loan

The Retail Prime Lending Rate (RPLR) stands at 16.20%

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan – 2 Year Fixed Rate Variant

The Retail Prime Lending Rate for self-employed non-professionals holds at 16.20%

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

Capital First Bank plot loan documents required for self-employed

Here are the documents you will have to submit for all the applicants and co-applicants along with the signed application form for the approval of your loan:

Purpose Documents
Proof of identity and residence (Any 1) 1.      Voter ID Card
2.      Valid Driving Licence
3.      Aadhaar Card
4.      Valid Passport
Proof of income 1.      Income Tax Returns (ITR) along with computation of income for the previous three assessment years.
2.      Savings account statements of the individual and current account statements of the business entity for the last six months
3.      Balance sheet and Profit and Loss account statements with schedules/annexures
(Documents of both the individual and the business entity should be attested by a CA for points 2 and 3)
Other documents 1.      Business profile
2.      Latest Form 26AS
3.      List of directors and shareholders with their individual shareholding certified by a CS/CA in case of the business entity being a company
4.      Memorandum and Articles of Association of the company
5.      Partnership deed if the business entity is a partnership firm
6.      Details of outgoing loans of the individual and the business entity with the outstanding amount, installments, security, purpose, balance loan term, etc.
7.      Cheque for processing fee favoring HDFC Ltd.
8.      Passport size photograph of the applicants/co-applicants on the application form and signed across
9.      Own contribution proof
Property related documents 1.      Allotment letter/ buyer agreement copy
2.      Title deeds in case of a resale with previous property documents

Capital First Bank plot loan fees and charges for self-employed

  • Processing fees:

Out of whichever is higher between Rs.3,000 and 0.50% of the loan amount and other extra appropriate dues for self-employed professionals

Out of whichever is higher between Rs.4,500 or up to 1.50% of the loan amount and other extra appropriate dues for self-employed non-professionals.

  • Prepayment charges:

Adjustable-Rate Home Loans (ARHL) Adjustable-Rate Loans (ARHL):
·        No prepayment charges will be payable on account of full/part payments for loans sanctioned to individual borrowers.
·        For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant. Prepayment charges at 2% plus taxes, as may be applicable from time to time, of the amount being prepaid, are payable.
·        The customer will have to submit documents that HDFC deems fit and proper to confirm the source of funds at the time of prepayment of the loan.
Fixed-Rate Home Loans (FRHL) Fixed-Rate Loans (FRHL)
·        No prepayment charges will be applicable for part/full payments made from own sources i.e., sources other than a bank/NBFC/HFC or financial institutions
·        The customer should submit documents that HDFC sees fit and proper to determine the source of funds.
·        Prepayment charges will be 2% plus taxes and statutory levies and charges of the outstanding amounts being so prepaid through any financial institution or any bank and will be applied to all full/ partial prepayments.
Fixed and Variable Rate Loans (Combination rate) Fixed and Variable Rate Loans (Combination rate)
·        During the Fixed Rate period:
·        The prepayment charges will be 2%, plus applicable taxes and statutory charges and levies of the outstanding amount being so prepaid through refinance from financial institutions or any banks, and will be applicable to all partial/full prepayments.
·        The customer must submit documents that Capital First bank approves to confirm the source of funds at the time of prepayment of the loan.
·        During the Variable Rate period:
·        No prepayment charges will be applicable on account of full/partial prepayments for loan sanctioned to individual borrowers.
·        For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges at 2% plus taxes and statutory charges, as may be applicable from time to time, of the amount being prepaid are payable.
The prepayment charges mentioned will be applicable to the date of execution of the loan agreement. However, the charges are subject to change from time to time depending on the prevailing policies of Capital First bank plot loan. 
  • Conversion fees

Name of the service/product Name of the charge/fee levied When payable Frequency
Switch to a lower rate in Variable Rate Loans (Housing/improvement/extension) Conversion fees On conversion On every spread change
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change
  • Cheque dishonor charges 

Rs.200

  • Fees on account of external opinion

The external opinion can be either from technical valuers or advocates and the fees can be paid directly to the concerned person depending on the kind of assistance rendered.

  • Property insurance: 

The customer should regularly pay the premium amounts directly to the insurance provider to keep the policy active during the loan tenure.

  • Incidental charges: 

Incidental charges and expenses are imposed to cover the charges, costs, and other expenses that may have been utilized to recover dues from a defaulting customer.

  • Statutory/regulatory charges

The customer will be solely responsible for all charges applicable on stamp duty/MOD/MOE/Central Registry of Securitization Asset Reconstruction and Security Interest of India

  • List of documents 

Up to Rs.500

  • Photocopy of documents 

Up to Rs.500

  • Increase/decrease in the loan term

Up to Rs.500 plus applicable loan term

  • Disbursement cheque cancellation charge post disbursement

Up to Rs.200

  • PDC swap

Up to Rs.200

Capital First bank plot loan for salaried individuals

Salient Features

  • Self-employed individuals can apply for this loan.
  • Buy a plot that’s already on sale.
  • Buying a plot through a direct share in a covering society or a creator scheme
  • Transfer his/her unresolved lending amount availed from another economic organization
  • Modified reimbursement choices offered to the debtor liable on the loan amount, loan tenancy, and rate of interest provided by the bank.
  • Striking rates of interest obtainable on the plot loans to make it reasonable for the candidates.
  • No unseen costs charged on the lend.

Who can apply Capital Bank plot loan for salaried individuals?

Persons can apply for this lend on their personal or together. People for the plot loans must be the planned proprietors of the plot. Co-applicants usually include household members and need not be co-owners of the stuff.

Loan term

  • The maximum tenure is 15 years.
  • The loan term depends on the reimbursement system the candidate has chosen for.
  • The client’s outline, age of the plot at the period of lend prime of life, age of the client at the period of loan maturity also play a role in determining the loan term.

Maximum loan amount

Loan Amount Maximum Funding
Up to Rs.30 lakh 80% of the property price*
Rs.30.01 lakh to Rs.75 lakh 80% of the property price*
Over Rs.75 lakh 75% of the property price*

The maximum funding of the loan can be restricted to 70% of the property cost if the property is situated outside city limits.

Type of Capital Bank plot loan for salaried individuals:

TruFixed Home Loan – 2/3 Year Fixed Rate Variant

Under the Tru Fixed Home Loan, the candidate can benefit secure rate up to 2/3 years, totaling up to the entire 15-year loan period.

Adjustable-Rate Loan

The rate of interest on the loan is revised every three months. An increase in the rate of interest will result in an upsurge in the EMI’s interest component which in turn will reduce the principal component. 

Capital Bank plot loan interest rates for salaried individuals

Adjustable Home Rate Loan

The Retail Prime Lending Rate for salaried individuals positions at 16.20%

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

The interest rates are applicable only for loans under the Adjustable-Rate Home Loan Scheme of Capital First Bank and can be revised at the time of disbursement.

TruFixed Loan – 2 Year Fixed Rate Variant

The Retail Prime Lending Rate (RPLR) positions at 16.20%

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 30 lakh) 7.05 to 7.55
For others* (up to 30 lakh) 7.10 to 7.60
For women* (above 30 lakh) 7.30 to 7.80
For others* (above 30 lakh) 7.35 to 7.85
For Women* (75.01 Lakhs & Above) 7.40 to 7.90
For Others*(75.01 Lakhs & Above) 7.45 to 7.95

Capital Bank plot loan documents required for salaried individuals

Purpose Documents
Proof of identity and residence (Any 1) 1.      Voter ID Card
2.      Valid Driving Licence
3.      Aadhaar Card
4.      Valid Passport
Proof of income 1.      Latest Form 16 and Income Tax Returns
2.      Last six months’ bank statements, showing salary credits
3.      Last three months’ salary slips
Other documents 1.      Own contribution proof
2.      Last six months’ bank statements showing repayment of any ongoing loans.
3.      Employment contract/appointment letter in case current employment is less than a year old
4.      Cheque for processing fee favoring Capital First
5.      Passport size photograph of all the co-applicants/applicants to be affixed on the application form and signed across
Property related documents 1.      Allotment letter/ buyer agreement copy
2.      Title deeds in case of a resale with the previous chain of the property documents

Capital Bank plot loan fees and charges for salaried individuals

  • Processing fees

For self-employed professionals, Rs.3,000 or up to 0.50% of the loan amount whichever is higher, and other additional applicable taxes.

  • Prepayment charges
Adjustable-Rate Home Loans (ARHL) Adjustable-Rate Loans (ARHL):
·        No prepayment charges will be payable on account of full/part payments for loans sanctioned to individual borrowers.
·        For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant. Prepayment charges at 2% plus taxes, as may be applicable from time to time, of the amount being prepaid, are payable.
·        The customer will have to submit documents that HDFC deems fit and proper to confirm the source of funds at the time of prepayment of the loan.
Fixed-Rate Home Loans (FRHL) Fixed-Rate Loans (FRHL)
·        No prepayment charges will be applicable for part/full payments made from own sources i.e., sources other than a bank/NBFC/HFC or financial institutions
·        The customer should submit documents that Capital First bank sees fit and proper to determine the source of funds.
·        Prepayment charges will be 2% plus taxes and statutory levies and charges of the outstanding amounts being so prepaid through any financial institution or any bank and will be applied to all full/ partial prepayments.
Fixed and Variable Rate Loans (Combination rate) Fixed and Variable Rate Loans (Combination rate)
·        During the Fixed Rate period:
·        The prepayment charges will be 2%, plus applicable taxes and statutory charges and levies of the outstanding amount being so prepaid through refinance from financial institutions or any banks, and will be applicable to all partial/full prepayments.
·        The customer must submit documents that HDFC approves to confirm the source of funds at the time of prepayment of the loan.
·        During the Variable Rate period:
·        No prepayment charges will be applicable on account of full/partial prepayments for loan sanctioned to individual borrowers.
·        For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges at 2% plus taxes and statutory charges, as may be applicable from time to time, of the amount being prepaid are payable.
The prepayment charges mentioned will be applicable from the date of execution of the loan agreement. However, the charges are subject to change from time to time depending on the prevailing policies of Capital First bank.
  • Conversion fees

Capital First bank plot loan offers the below-mentioned conversion fees.

Name of the service/product Name of the charge/fee levied When payable Frequency
Switch to a lower rate in Variable Rate Loans (Housing/improvement/extension) Conversion fees On conversion On every spread change
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change
  • Cheque dishonor charges 

Rs.200

  • Fees on account of external opinion

The external opinion can be either from technical valuers or advocates and the fees can be paid directly to the concerned person depending on the kind of assistance rendered.

  • Property insurance: 

The customer should regularly pay the premium amounts directly to the insurance provider to keep the policy active during the loan tenure.

  • Incidental charges: 

Incidental charges and expenses are imposed to cover the charges, costs, and other expenses that may have been utilized to recover dues from a defaulting customer.

  • Statutory/regulatory charges

The customer will be solely responsible for all charges applicable on stamp duty/MOD/MOE/Central Registry of Securitization Asset Reconstruction and Security Interest of India

  • List of documents 

Up to Rs.500

  • Photocopy of documents 

Up to Rs.500

  • Increase/decrease in the loan term

Up to Rs.500 plus applicable loan term

  • Disbursement cheque cancellation charge post disbursement

Up to Rs.200

  • PDC swap

Up to Rs.200

How to apply for Capital First Bank Plot Loan With DialAbank

  • For Capital First Bank Plot Loan, you can apply with Dialabank easily.
  • You have to fill the form with all the required documents.
  • For further details, the bank’s representative will call you if your application is approved.

Additional tips to get Capital First Bank  Plot Loan Easily

  • A good loan history would be an advantage before applying for the loan.
  • A good credit score would help in the easy approvals of the loan.
  • Proper documentation required at the time of approval. 

Documents Required to Apply for Capital First Bank plot loan

  • Finished loan application
  • Id proof
  • Address proof
  • Income proof
  • Proof of educational qualifications
  • Age proof
  • Employment details
  • Bank statements
  • Details about the property in case you have finalized it beforehand
  • Any other obligation documentation (SOA, Sanction Letters, etc.)
  • Once the property is finalized and the asset is defined to the financier, you will be required to provide a distinct set of documents relating to the property selected. These documents will assist in providing information on whether the said property is sound upon which funding can be provided.

FAQ’s

What is the Plot loan interest rate in Capital First Bank?

The Capital First bank plot loan is 9.0-11.0%

 What is a Capital First Bank Plot Loan?

Capital First bank offers plot loans to both salaried and self-employed people if they have an Indian nationality, Capital First bank plot loan can be used for buying any plot in India.

 How much processing fee is applicable to the Capital First Bank Plot loan?

Rs 2500- Rs 5000 is the processing fee charged by the capital first bank

 What is the loan tenure of the Capital First Bank Plot loan?

 20 years is the loan time of the Capital First Bank.

 How much EMI per Lakh can be fixed on Capital First Bank Plot Loan?

EMI per Lakh for the Capital First Bank plot loan is ₹ 649 for 30 years.

 How can I avail plot loan from Capital First Bank?

Once you pass the eligibility criteria.

 How to Apply for a Capital First Bank Plot loan?

Please visit the Capital First Bank’s website to read the application procedure or you can just call at 9878981166.

 How to repay the Capital First Bank plot loan earlier than the schedule?

Visit the Cpital First Bank’s website for knowing how to repay the loan before the schedule.

 Is it possible to repay my loan earlier than the schedule?

Yes.

 How to check Capital First Bank + Plot Loan eligibility?

  • Only Managers and Company Organizations
  • Micro Minor and Average Enterprises
  • Salaried and Self-Employed Professionals
  • For Self-employed at least 2 years in business and for salaried individuals have 3 years of work experience
  • At the time of maturity minimum of 23 years of age and a maximum of 70 years of age or retirement
  • Clear investment and loan reimbursement history
  • A decent credit score in the credit bureau
  • Loan Amount 5 Lakh to 25 Lakh
  • Loan Tenure Maximum of 20 years
  • No Prepayment Charges
  • Processing Fees- For 10 lakhs the charge is Rs. 2,500 and Rs. 5,000 for amounts greater than Rs. 10 Lakhs.
  • The rate of interest is 9.00% – 11.50%

 What is the Capital First Bank Plot loan phone number?

You have to call at 9878981166.

 What is the Capital First Bank plot loan interest rate for women?

For women, the Capital First Bank plot loan rate of interest is 7.05% – 7.20%. 

 What is the Capital First Bank plot loan interest rates for salaried individuals?

Capital First Bank plot loan interest rate for Salaried Individuals – 7.10% – 7.20%.

 What is the Capital First Bank plot loan interest rates for self-employed individuals?

 Capital First Bank plot loan interest rate for Self-Employed – 7.10% – 7.20%.

 What is Capital First Bank plot loan interest rates for self-employed non-professionals?

Capital First Bank plot loan interest rate for Self-Employed Non-Professionals – 7.10% – 7.20%.

 How is a plot loan different from a home loan?

  • Tax benefits availability for Home loan owners but not for plot loan.
  • Usually, the LTV in plot loan is less up to 70% and  home loans is 90%.

 Can I take a plot loan along with a home loan?

No.

 What is the maximum amount that I can take as a loan?

The maximum loan amount is determined after checking your land documents.

 Can a plot loan finance investment in any plot, anywhere?

Yes.

 What is a Balance Transfer on Plot Loan?

Balance Transfer helps in lowering the EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.

 Do I get any tax benefits on a plot loan?

No tax benefits.

 How many years can I keep the plot of land before starting construction?

3 years.

 

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