Jana Small Finance Bank plot loan Features
| Bank | Interest Rates |
| Jana Small Finance Bank Base Rate | 0.00% |
| Jana Small Finance Bank MCLR Rate | 10.89% – 12.46% |
| Jana Small Finance Bank FD Rate | 7.50% |
- Housing Loan – 14%-18.75% p.a.
- Non Housing Loan – 16%-21% p.a.
Eligibility Criteria for Jana Small Finance Bank plot loan
- Both new and current customers of Jana Small Finance Bank can benefit from Jana Small bank plot Loan.
- Self-employed professional, self-employed non-professional & salaried professional can avail Jana Small Finance Bank.
- Authorities with cash income can also apply.
- Minimum household income of Rs.10,000 per month
- During loan maturity minimum 25 years of age and up to 75 years.
Features for Jana Small Finance Bank plot loan
- Loan Amount & Tenure
- Numerous variations
- Striking rate of interest
- Savings Account
- Suitable Investment Facilities
- Assurance Ability
- Funding
Benefits for Jana Small Finance Bank plot Loan
- Benefit from a Loan of 50 lacs for 20 years.
- You can take a home loan for the following reasons:
- Buying a house/flat
- Buying a plot for the building of a house
- Balance Transfer
- Credit against Property
- Profitable Buying
- Household Upgrading.
3. The rate of interest for the Jana small financial bank plot loan is
- Housing Loan – 14%-18.75% p.a.
- Non-Housing Loan – 16%-21% p.a.
4. Minimal Documentation and Doorstep Service.
5. Harmless guardianship of property papers.
Jana Small Finance Bank plot loans for self-employed individuals
Salient Features
Self-employed individuals can apply for this loan if he/she is looking to:
- Buy a plot that is on sell again
- Buy a plot that is in direct contact with a housing complex or a new housing project
- Transfer your unsettled loan amount availed from other monetary institutions.
- The borrower is offered a customized reimbursement on the loan amount, period, and the rate of interests provided by the bank.
- For making it affordable to the candidates striking rate of interest on the Jana Small Finance Bank plot loan.
- Importantly, there are no hidden costs on the loan.
Who can apply for Jana Small Finance Bank plot loans self-employed?
People can apply for this Jana Small Finance Bank Plot loan on their own or jointly. The co-applicants should be the holders of the plot. The co-applicants include family members and don’t have to be the holders of the plot.
Loan term
- 15 years is the period up to which one can allocate his payments.
- The loan term is very much dependent on the repayment structure that the applicant opts for.
- The important things at the time of the loan term are the applicant’s profile, age of the applicant at the time of loan maturity, and age of the plot/land/property at the time of loan maturity.
Jana Small Finance Bank plot loan self-employed:
Tru mounted loan – 2/3 Year mounted Rate Variant
Jana Small Finance Bank plot loan provides customers an adaptable-rate term and a static rate term. Underneath the TruFixed loan, the individual will avail motionless rate up to 2/3 years, once that the loan is revised to an adjustable-rate loan mechanically, summation to a complete of a 15-year loan term.
Adjustable-Rate Loan
The adjustable-rate plot loan is joined to Jana Small Finance Bank Retail Prime disposition Rate (RPLR). The charge per unit on the loan is revised once every 3 months if there’s a modification within the RPLR, taking the date of the primary disbursement under consideration. An upsurge within the control per unit can result in a growth within the EMI’s interest element that consecutively can cut back the principal element. This may spread the loan term, and inside out, in cases wherever the charge per unit drips.
Who will apply for a Jana Small Finance Bank plot loan self-employed?
People can apply for this loan individually or together. The co-applicants for the Jana Small Finance Bank plot loan must be the intentional proprietors of the plot. The co-applicants have a family so they do not wish to be the co-owners of the land.
Loan term
- 15 years is the period up to which one can allocate his payments.
- The loan term is very much dependant on the repayment structure that the applicant opts for.
- The important things at the time of the loan term are the applicant’s profile, age of the applicant at the time of loan maturity, and age of the plot/land/property at the time of loan maturity.
Type of Jana Small Finance Bank plot loan for self-employed:
Tru mounted loan – 2/3 Year mounted Rate Variant
Jana Small Finance Bank plot loan provides customers an adaptable-rate term and a static rate term. Underneath the TruFixed loan, the individual will avail motionless rate up to 2/3 years, once that the loan is revised to an adjustable-rate loan mechanically, summation to a complete of a 15-year loan term.
Adjustable-Rate Loan
The adjustable-rate plot loan is joined to Jana Small Finance Bank Retail Prime disposition Rate (RPLR). The charge per unit on the loan is revised once every 3 months if there’s a modification within the RPLR, taking the date of the primary disbursement under consideration. An upsurge within the control per unit can result in a growth within the EMI’s interest element that consecutively can cut back the principal element. This may spread the loan term, and inside out, in cases wherever the charge per unit drips.
Jana Small Finance Bank plot loan for salaried people
Salient options
- Buy a plot that is on sell again
- Buy a plot that is in direct contact with a housing complex or a new housing project
- Transfer your unsettled loan amount availed from other monetary institutions.
- The borrower is offered a customized reimbursement on the loan amount, period, and the rate of interests provided by the bank.
- For making it affordable to the candidates striking rate of interest on the Jana Small Finance Bank plot loan.
- Importantly, there are no hidden costs on the loan.
Who will apply for a Jana Small Finance Bank plot loan for salaried individuals?
People can apply for this loan individually or together. The co-applicants for the Jana Small Finance Bank plot loan must be the intentional proprietors of the plot. The co-applicants have a family so they do not wish to be the co-owners of the land.
Loan term
- 15 years is the period up to which one can allocate his payments.
- The loan term is very much dependant on the repayment structure that the applicant opts for.
- The important things at the time of the loan term are the applicant’s profile, age of the applicant at the time of loan maturity, and age of the plot/land/property at the time of loan maturity.
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* |
Types of Jana Small Finance Bank Bank plot loan for salaried individuals:
If the property is situated outside city limits, the maximum funding of the loan can be restricted to 70% of the property charge.
Tru mounted loan – 2/3 Year mounted Rate Variant
Jana Small Finance Bank plot loan provides customers an adaptable-rate term and a static rate term. Underneath the TruFixed loan, the individual will avail motionless rate up to 2/3 years, once that the loan is revised to an adjustable-rate loan mechanically, summation to a complete of a 15-year loan term.
Adjustable-Rate Loan:
The adjustable-rate plot loan is joined to Jana Small Finance Bank Retail Prime disposition Rate (RPLR). The charge per unit on the loan is revised once every 3 months if there’s a modification within the RPLR, taking the date of the primary disbursement under consideration. An upsurge within the control per unit can result in a growth within the EMI’s interest element that consecutively can cut back the principal element. This may spread the loan term, and inside out, in cases wherever the charge per unit drips.
Jana Small Finance Bank Bank plot loan interest rates for salaried individuals
Adjustable Home Rate Loan
16.20% is the Retail Prime Lending Rate for salaried individuals.
Tru mounted loan – 2/3 Year mounted Rate Variant
16.20% is the Retail Prime Lending Rate
Jana Small Finance Bank plot loan fees for salaried individuals
Below is the list of fees/charges/other outgoings that can be payable depending on the type of loan applied for.
Processing fees
Rs.3,000 or up to 0.50% of the loan amount whichever is higher, and other additional applicable taxes is the processing fee for the self-employed 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 Jana Small Finance Bank 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 Jana Small Finance 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 apply to all partial/full prepayments. | |
| · The customer must submit documents that Jana Small Finance 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 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 Jana Small Finance Bank. |
There is an advantage given by the Jana Small Finance Bank to its prevailing customers that is the conversion facility to pull down the rate of interest on the loan by switching schemes. This facility can be used by paying a fee or one can either diminish the loan amount time or EMI. The options of conversions accessible for the current Jana Small Finance Bank customers are
Conversion fees
|
Name of the service/product |
Name of the charge/fee levied |
When payable |
Frequency |
Amount in rupees |
|
Switch to a lower rate in Variable Rate Loans (Housing/improvement/extension) |
Conversion fees |
On conversion |
On every spread change |
Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of Rs.50,000 plus taxes whichever is lower. |
|
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) |
Conversion fees |
On conversion |
Once |
Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of Rs.50,000 plus taxes whichever is lower. |
|
Switching from Trufixed Fixed Rate to Variable Rate Loan |
Conversion fees |
On conversion |
Once |
1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion. |
|
Switch to Lower Rate (Non-Housing Loans) |
Conversion fees |
On conversion |
On every spread change |
Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%. |
|
Switch to Lower Rate (Non-Housing Loans) |
Conversion fees |
On conversion |
On every spread change |
0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion. |
Cheque discredit charges
Rs.200 is the cheque discredit charges for the Jana Small Finance bank plot loan (conditions apply)
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 person in charge depending on the kind of help condensed.
Property insurance
The customer should regularly pay the premium amounts directly to the insurance provider to keep the policy active during the loan tenure.
Charges on account of delayed payments
The customer is liable to pay additional interests up to 24% p.a in case the payment of interest or EMI has been delayed.
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 (CERSAI).
List of documents
The cost for the list of documents taken by the Jana Small Finance bank plot loan is Rs 500.
Photocopy of documents
The cost for the photocopy of documents taken by the Jana Small Finance bank plot loan is Up to Rs.500
Increase/decrease in the loan term
You have to pay Rs 500 along with the application form if there is a need where you want to increase or decrease the loan term.
Disbursement cheque cancellation charge post disbursement
Rs.200 is the charge for the Disbursement cheque cancellation as per the Jana Small Finance bank plot loan.
PDC swap
A minimal amount of Rs 200 is charged for the PDC swap charges
Re-appraisal of the loan after 6 months from sanction
You may have to pay Rs 2000 along with the applicable taxes if you want a re-appraisal of the Jana Small Finance bank plot loan after 6 months from its sanction then
Jana Small Finance bank plot loan Interest Rates For self-employed professionals
Adjustable Home Rate Loan
16.20% is the Retail Prime Lending Rate.
Tru mounted loan – 2/3 Year mounted Rate Variant
16.20% is the Retail Prime Lending Rate
Jana Small Finance bank plot loan interest rates for self-employed non-professionals
Adjustable Home Rate Loan
16.20% is the Retail Prime Lending Rate for salaried individuals.
Tru mounted loan – 2/3 Year mounted Rate Variant
16.20% is the Retail Prime Lending Rate
Additional Tips to Get a Loan to buy Land
Here are some basic clues that would help you to increase your chances of getting a loan:
- If deductions are considered over & above 60% of Gross income, an additional spread of 0.25% should be charged over and above the regular ROI applicable for the Housing Loan.
- A borrower would require a good credit score of above 750 to avail of the plot loan. If a borrower has a good score, it will increase the loan approval chances.
- A good income and debt ratio increase your chances of getting a loan. Lesser is the ratio, more are the chances of loan approval.
- Firstly, you apply for a plot loan the debtors need to figure out how much loan they can afford. Debtors can take the help of calculators to check their loan affordability as well as suitability.
How to apply for IDFC Bank Plot Loan with Dialabank
- One can apply for the Plot Loan with Dialabank easily.
- Not a complicated process, just fill a form with your correct details and the documents asked.
- If any help is required our relationship manager would contact you.
- There is also a door to door document pickup facility provided by us.
- For more details or doubts you can call us on 9878981166.
Documentations for Jana Small Finance Bank plot loan
- Aadhaar and PAN card or Form 60
- If a person doesn’t have a PAN Card then along with Form 60 the following documents are required
- Voter ID
- Passport
- Driving License
- NREGA (National Rural Employment Guarantee Act)
- Letter supplied by National Population Register with name and home address.
- Residential Proof
- Lawful KYC documents
- Utility bill but not more than 60 days
FAQ’s
✅What is the Plot loan interest rate in Jana Small Finance Bank?
- Housing Loan – 14%-18.75% p.a.
- Non Housing Loan – 16%-21% p.a.
✅What is Jana Small Finance Bank Plot Loan?
A plot loan or Land loan is a facility provided by banks or NBFC’s for buying land to build a residential property or property for official purposes. The Jana Small Finance Bank extends the plot loan to people as per their requirement and is one of the best options to start for plot loans.
✅How much processing fee is applicable on Jana Small Finance Bank Plot loan?
The processing fee will be the total amount divided by the amount of your total monthly sales that paid using credit cards.
✅What is the loan tenure of the Jana Small Finance Bank Plot loan?
The maximum loan tenure for salaried is 30 years and for self-employed is 25 years.
✅How much EMI per Lakh can be fixed on Jana Small Finance Bank Plot Loan?
₹ 1,779 per lakh is the EMI per lakh.
✅How can I apply for the plot loan from Jana Small Finance Bank?
One can apply for the Jana Small Finance First Bank Plot Loan with Dialabank easily.
- Not a big process, just fill a form with your correct details and the documents asked.
- If any help is required our relationship manager would contact you.
- There is also a door to door document pickup facility provided by us.
- For more details or doubts you can call us on 9878981166.
✅How to repay the Jana Small Finance Bank plot loan earlier than the schedule?
- An applicant can make Bi-Weekly Payments or instead of the regular monthly payment submit half of the payments to your moneylender every two weeks.
- An applicant can also make round-Up Payments.
- Find Extra Money.
- One can also make an extra payment.
- Sponsor Your Loan.
✅Is it possible to repay my loan earlier than the schedule?
Yes, it is possible to repay your loan earlier.
✅How to check Jana Small Finance Bank Plot Loan eligibility?
The below-mentioned eligibility criteria are to be met by the candidates for a smooth process.
- Age Limit: The candidate must be between 18 to 60 years of age with good refunding capacity.
- Nationality: Should be an Indian resident
- Profession: Salaried or self-employed individuals who should be in the current employment for a consistent period
- A CIBIL Score of 650 or more is expected
- The borrower is required to commence construction over the land or plot within the stipulated time to get a plot + construction loan. The stipulated time frame can vary from lender to lender.
✅What is the Jana Small Finance Plot loan phone number?
Contact at 9878981166 for all the Indian bank plot loan queries.
✅What is the Jana Small Finance plot loan interest rate for women?
No special rates for women.
✅What is Jana Small Finance plot loan interest rates for salaried individuals?
The Jana Small Finance plot loan interest rate for salaried individuals is 7.60%
✅What is Jana Small Finance plot loan interest rates for self-employed individuals?
8.35% is the rate of interest for self-employed individuals.
✅What is Jana Small Finance plot loan interest rates for self-employed non-professionals?
8.35%-9% depending on the amount taken is the rate of interest.
✅How is a plot loan different from a home loan?
Many borrowers typically get confused between land loans and home loan rates. A home equity loan could be a loan that facilitates borrowers to get associate existing house property or construction of a brand new flat or house. On the opposite hand, land loans square measure availed just for the acquisition of the land on that construction is planned to be disbursed later.
✅Can I take a plot loan along with a home loan?
No, you cannot take two loans together.
✅What is the maximum amount that I can take as a loan?
Up to 5 crores are the maximum amount that one can take as a loan.
✅Can a plot loan finance investment in any plot, anywhere?
No, you cannot finance a plot loan in any plot, anywhere.
✅What is a Balance Transfer on Plot Loan?
A balance transfer loan makes paying down credit cards or high-interest rate debt simple by allowing you to decide which creditors to pay and the amount to send each one. Any remaining money from your loan is deposited into your bank account.
✅Do I get any tax benefits on a plot loan?
As per Section 80C of the Income Tax Act, one can avail of deduction on the main reimbursement amount of your plot loan up to a maximum of 150,000 per annum.
✅How many years can I keep the plot of land before starting construction?
Within 3 years the construction has to be done in the plot taken.
