Telangana Grameena Bank Plot Loan

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Telangana Grameena Bank Plot Loan Features

Interest Rate as per the loan amount
Plot Loan amount Up to INR 3 Crores
Loan Tenure 15 Years
Margin  24%
Pre-payment Penalty Nil

Eligibility Criteria for Telangana Grameena Bank Plot Loan

  • Indian Nationality
  • Proper ID and address proof
  • The borrower should be of an age group of 18-65.
  • The borrower should have a stable income.
  • Guarantor available.
  • The property should be within municipal limits.

Benefits of Telangana Grameena Bank Plot Loan

There are various benefits in Telangana Grameena Bank Plot loan.

  • Customized services.Telangana Grameena Bank Plot Loan
  • minimal documentation
  • No hidden charges
  • Low interest rate
  • Tax benefits on Plot Construction Loan

Plot Loan

Plot loan is the most convenient way for a customer to get instant funds to buy an empty plot of land. The bank provides their customers a plot loan to buy a plot and not an already constructed building. In plot loan it is up to the borrower if they wish to do agricultural activities on it, build a house or just keep it empty for investment purposes. The repayment in this loan is through EMIs.

1. Plot Loan Interest Rates

The rate of interest in Telangana Grameena Bank majorly depends on the loan. It starts at 8.90% for all customers.

2. Loan to Value Ratio‭ (‬LTV‭)‬

Loan to value or LTV is the money a borrower gets against the property.‭ It is a maximum of 70% ‬LTV

3. Lower Tenure

Plot loans have a shorter tenure of up to‭ ‬15‭ ‬years.

4. Tax Benefits

Tax benefits on land loans are not available.‭ ‬However, if it is coupled with construction loan, tax benefits can be availed. ‭ ‬

5. Prepayment Penalty

Floating rate loans come with no prepayment charges.

Types of Plot Loan Telangana Grameena Bank Provides

Plot Loan

A plot loan will let you buy a vacant plot for constructing a house or for merely investment purposes. Each bank has their own charges and eligibility to provide a plot loan.

Plot + Construction Loan

This loan is taken to construct a house on the land. This offers tax benefits to the borrower after the construction is completed.

Telangana Grameena Bank Plot Loan for Self-employed Individuals:

Self-employed individuals can take Telangana Grameena Bank Plot Loan.

Who Can Apply for a Self-employed Telangana Grameena Bank Plot Loan

LOAN AMOUNT MAXIMUM FUNDING
Rs. 30 lakh – 75 lakh Up to 80% of the document cost or the market value, whichever is the lowest.
Above Rs. 75 lakh Up to 75% of the document cost or the market value, whichever is the lowest.

Types of Plot Loans for Self-employed Individuals

Telangana Grameena Bank gives two types of loans to all self-employed individuals

  1. Adjustable-Rate Loan- This loan is provided at Retail Prime Lending Rate. It is revised every six months and the interest rate, EMI depends on that.
  2. TruFixed Home Loan- This loan is provided at 2/3 year Fixed Rate Variant. It provides both, one half of an adjustable-rate and the other half fixed rate.

Telangana Grameena Bank Plot Loan Interest Rate for Self-employed Professionals

Adjustable Plot Loan Rate

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 Rate- 2/3 Year Fixed Rate Variant

Loan Slab Home Loan Interest Rates (% p.a.)
For Women* (up to 30 Lakhs) 7.50 to 8.0
For Others* (up to 30 Lakhs) 7.55 to 8.05
For Women* (Above 30 Lakhs) 7.65 to 8.15
For Others* (Above 30 Lakhs) 7.70 to 8.20
For Women* (75.01 Lakhs & Above) 7.75 to 8.25
For Others*(75.01 Lakhs & Above) 7.80 to 8.30

Telangana Grameena Bank Plot Loan Interest Rate for self-Employed Non-professionals

Adjustable Home Rate Loan

Loan Slab Interest Rates (% p.a.)
For Women* (Up to 30 Lakhs) 7.20 to 7.70
For Others* (Up to 30 Lakhs) 7.25 to 7.75
For Women* (Above 30 Lakhs) 7.45 to 7.95
For Others* (Above 30 Lakhs) 7.50 to 8.00
For Women* ( 75.01 Lakhs & Above) 7.55 to 8.05

TruFixed Loan- 2/3 Year Fixed Rate Variant

Loan Slab Interest Rates (% p.a.)
For Women* (up to 30 Lakhs) 7.65 to 8.15
For Others* (up to 30 Lakhs) 7.70 to 8.20
For Women* (Above 30 Lakhs) 7.80 to 8.30
For Others* (Above 30 Lakhs) 7.85 to 8.35
For Women* ( 75.01 Lakhs & Above) 7.90 to 8.40
For Others*( 75.01 Lakhs & Above) 7.95 to 8.45

Telangana Grameena Bank Documents Required for Self-employed

ID Proof PAN Card / Passport / Aadhar Card / Voter ID
Residence Proof Driver’s License, Telephone Bill, Election or Ration Card
Education Qualification Last qualifying degree
Proof of Business Certificate or any other proof of business
Tax Returns Last three years Income Tax Returns
Bank Account Statements Last 1 year bank statements
Other documents Processing fee cheque, photocopy of title documents of the property.

Telangana Grameena Bank Plot Loan fees for Self-employed Individuals

Processing Fees: 

The processing fees is Rs. 2,500 – Rs. 5,000

Pre-payment Charges

Adjustable-Rate Home Loans For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant, prepayment charges are at 2% plus taxes.
Fixed-Rate Home Loans Prepayment charges will be 2% plus tax and charges of the outstanding amount
Fixed and Variable Rate Loans Fixed and Variable Rate Loans (Combination rate)

  • During the Fixed Rate period:
    • The prepayment charges will be 2%, with taxes and statutory charges on the outstanding amount
    • During the Variable Rate period:
      • No prepayment charges will be applicable
      • For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants, Prepayment charges at 2% plus taxes and statutory charges are payable.

Conversion Fees

Name of the service Name of the charge/fee levied When payable Frequency
Amount in rupees
Switch to a lower rate in Variable Rate Loans
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 50,000 rupees 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 50,000 rupees 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 Dishonour Charges

Up to 200 rupees.

Fees on Account of External Opinion

The external opinion of technical advocates is taken. Their fee is to be paid by the borrower.

Property Insurance

Borrowers are asked to pay for their insurance.

Incidental Charges

The incidental charges are covered by the borrower.

Statutory / Regulatory Charges

The customer has to pay for any extra Statutory or Regulatory Charges.

List of Documents

Up to Rs. 500

Photocopy of Documents

Up to Rs. 500

Increase/Decrease in Loan Term

Up to Rs. 500

Disbursement Cheque Cancellation Charge Post Disbursement

Up to Rs. 200

Re-appraisal of Loan After 6 Months from Sanction

Up to Rs. 2000 plus applicable charges.

PDC Swap

Up to Rs. 500

Telangana Grameena Bank Plot Loan for Salaried Individuals

All salaried individual can take ICICI Bank Plot loan and avail its benefits.

Who can apply for a Salaried Telangana Grameena Bank Plot Loan

LOAN AMOUNT MAXIMUM FUNDING
 Rs. 30 lakh to Rs. 75 lakh. Up to 80% of the market value or cost of the property, whichever is lower.
Above Rs. 75 lakh. Up to 75% of the market value or cost of the property, whichever is lower.

Types of Plot Loans for Salaried Individuals

  1. Adjustable-Rate Loan: This is available at Retail Prime Lending Rate which is increased every six months.
  2. TrueFixed Home Loan- This is available at 2/3 Year Fixed Rate Variant. It comes with one half of an adjustable-rate and the other half of a fixed rate.

Telangana Grameena Bank Plot Loan Interest Rate for Salaried Individuals

Adjustable Plot Loan Rate

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- 2/3 Year Fixed Rate Variant

Loan Slab Home Loan Interest Rates (% p.a.)
For Women* (up to 30 Lakhs) 7.50 to 8.0
For Others* (up to 30 Lakhs) 7.55 to 8.05
For Women* (Above 30 Lakhs) 7.65 to 8.15
For Others* (Above 30 Lakhs) 7.70 to 8.20
For Women* (75.01 Lakhs & Above) 7.75 to 8.25
For Others*(75.01 Lakhs & Above) 7.80 to 8.30

Telangana Grameena Bank Plot Loan Documents For Salaried Individuals

Id proof Passport, PAN Card, Aadhar Card, Election Card
Address Proof Driving License, Telephone Bill, Ration Card, Election Card
Education Qualification Last qualifying Degree
Salary Slips Last three months’ salary slips
Bank Statements Last six months bank statements
Others Processing fee cheque and photocopy of title documents

Telangana Grameena Bank Plot Loan Fees for Salaried Individuals

Processing Fees: 

The processing fees for ICICI Bank Plot Loan ranges from Rs. 2,500- Rs. 5,000

Pre-payment Charges:

Adjustable-Rate Home Loans
  • For loans sanctioned to individual borrowers with a co-applicant, prepayment charges are at 2% plus taxes.
Fixed-Rate Home Loans
  • Prepayment charges will be 2% plus tax and charges of the outstanding amount should be prepaid through any financial institution or a bank.
Fixed and Variable Rate Loans Fixed and Variable Rate Loans (Combination rate)

  • During the Fixed Rate period:
    • The prepayment charges of 2%, plus applicable taxes and statutory charges of the outstanding amount being so prepaid through refinance from financial institutions or any banks, and will apply to all partial/full prepayments.
  • During the Variable Rate period:
    • No prepayment charges will be applicable
    • For loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges at 2% plus taxes and statutory charges are payable as prepaid

Conversion Fees:

Name of the service Name of the charge/fee levied When payable Frequency Amount in rupees
Switch to a lower rate in Variable Rate Loans 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 50,000 rupees plus taxes whichever is lower.
Switch 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 50,000 rupees plus taxes whichever is lower.
Switch from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding 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 difference on the principal outstanding 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 Dishonour Charges

Up to Rs. 200

Fees on Account of External Opinion

Technical advocated are called upon to give an external opinion. The fees is paid by the customer.

Property Insurance

Borrowers pay for the insurance.

Incidental Charges

The incidental charges are taken up by the defaulter.

Statutory / Regulatory Charges

The customer is supposed to pay for any charges that are 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

Maximum amount of 500 rupees.

Increase/Decrease in Loan Term

Maximum amount of Rs. 500

Disbursement Cheque Cancellation Charge Post Disbursement

Maximum money of Rs. 200

Re-appraisal of Loan After 6 Months from Sanction

Maximum amount of Rs. 2000 and applicable tax.

PDC Swap

Maximum amount of Rs. 200

How to apply for Telangana Grameena Bank Plot Loan with Dialabank

  1. Visit us on our website at www.dialabank.com.
  2. Fill the online form that appears at the top of the page
  3. Give us a moment and our Customer relationship officer will get in touch with you.
  4. You will be helped throughout the way.

Documents Required for Telangana Grameena Bank Plot Loan

  • Recent Passport Size Photographs.
  • Correctly filled application fee.
  • ITR of last two years.
  • Identity‭ Proof
  • Residence Proof
  • Income Documents for salaried‭
  • Business proof for self-employed
  • Property Documents‭ / Sales deed

Telangana Grameena Bank Plot loan with Construction vs Home Loan

Parameters Land Loan with Construction Regular Home Loan
Plot + Construction loan interest rates Rates are the same for a home loan, ‬but the plot + Construction Loan interest rates can be higher if you want the construction period to be longer than usual Interest rates are start from 6.75%
LTV Up to‭ ‬70%‭ ‬of the property’s value Up to‭ ‬90%‭ ‬of the property’s value
Tenure Up to‭ ‬15‭ ‬years Up to‭ ‬30‭ ‬years
Tax Benefits The plot loan availed for construction and its benefits can be claimed post completion of the construction On principal amount under section‭ ‬80C and interest amount under section‭ ‬24‭(‬b)
Prepayment Penalty Nil for individuals on floating rates Nil for individuals on floating rates

FAQs

What is the plot loan interest rate in Telangana Grameena Bank?

The interest rate begins at 8.90% and further increases as the loan amount increases.

What is Telangana Grameena Bank Plot Loan?

Telangana Grameena Bank Plot Loan is offered by the bank to purchase a piece of land. It is up to the borrower what they do with the plot of land. They can construct a house on it or even keep it as it is for investment purposes. The land can also be used for agricultural purposes.

How much processing fee is applicable on Telangana Grameena Bank Plot Loan ?

The processing fees for ICICI Bank Plot loan is a minimum of 0.25%

What is the loan tenure of the Telangana Grameena Bank Plot Loan?

Up to 30 years

How much EMI per lakh can be fixed on Telangana Grameena Bank Plot Loan?

The EMI per lakh depends on the salary of the borrower, loan tenure and the loan amount.

How can I avail plot loan from Telangana Grameena Bank?

Any Indian resident above 18 years of age can apply for Telangana Grameena Bank Plot Loan.

How to apply for Telangana Grameena Bank Plot Loan?

You can visit the closest bank branch or take the assistance of Dialabank.

How to repay the Telangana Grameena Bank Plot Loan earlier than the schedule?

By doing extra payments, the loan can be repaid before the schedule.

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

On getting enough funds, a borrower can pay the entire loan amount earlier than schedule.

How to check Telangana Grameena Bank Plot Loan eligibility?

Visit Telangana Grameena Bank branch or visit their website. You can also know their eligibility online from Dialabank.

What is the Telangana Grameena Bank Plot Loan phone number?

You can contact Dialabank on 9878981144

What is the Plot Loan interest rate for women?

The Plot loan interest rate begings at 9.60% for women.

What is Telangana Grameena Bank plot loan interest rates for salaried individuals?

The Plot loan interest rate for salaried individuals are from 7.05% to 8.00%

What is Telangana Grameena Bank plot loan interest rates for self-employed professionals?

The Telangana Grameena Bank Plot Loan interest rates for self-employed professionals are 7.25% to 7.75%

What is Telangana Grameena Bank plot loan interest rates for self-employed non-professionals?

The Telangana Grameena Bank plot loan interest rates for self- employed non-professions are 7.25% to 7.75%

How is a plot loan different from a home loan?

A plot loan let you buy an empty piece of land and a home loan lets you purchase an already constructed house.

Can I take a plot loan with a home loan?

Plot Loan and Home loan cannot be taken together.

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

The loan is issued at an 70% LTV.

Can a plot loan be taken on any plot, anywhere?

A plot loan will let you buy a piece of land within municipal limits.

What is a Balance Transfer on Plot Loan?

The Balance transfer on plot loan is available at an interest rate from 6.75%.

Do I get any tax benefits on a plot loan?

After the completion of construction on the plot, tax benefits can be availed.

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

The construction has to begin before the time decided upon by the bank.

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