FAQ

Loan Application Procedures

Customers can apply for a Home Loan at any time once they have decided to purchase or construct a property and even if they have not selected the property or the construction has not commenced.

Customers can make a loan application in 3 easy ways.
• Call us on 0124-4212530/31/32 & a Shubham Relationship officer will be happy to assist you
• Email us at customercare@shubham.co
Visit any of our branches. To locate the nearest branch click here.

We have a range of home loan products to cater to every need.
• To know further contact us on 01244212530/31/32 or drop an email at customercare@shubham.co
Visit any of our branches. To locate the nearest branch click here.

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us. It is extremely important for customers to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.

Yes, we provide home loan balance transfer services to our customer's. For more information contact our housing loan expert. Call us at 0124-4212530//31/32

Yes on the given conditions that the loan taken should be utilised towards addition of a built up space in a dwelling unit
1) Up-gradation of a dwelling unit by complete demolition and reconstruction
2) Improvement of the dwelling unit by making walls/ceilings better and safer
3) Addition of water connections, bathrooms and sewage connections
4) Renovation of an existing dwelling unit

Yes, co-applicant or guarantor is required for taking aloan. Maximum of 2 applicant's income can be considered from a household.

Photograph, Identification Proof, Address Proof, Income proof (If available), Property Documents.

Yes, a non-refundable fee of Rs. 2500 has to be paid at the time of loan application.

EMI &Other Charges

The EMI consists of the principal amount and the interest on the principal amount. It is calculated by taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum.
Every month, part of the EMI is adjusted towards the interest payable and the balance is adjusted towards repayment of the principal.

No, there will be no charges levied for restructuring/converting the loan. However, the same could be applicable in future.

No additional charges would be applicable unless any changes do occur in the policy ,tenure or interest

Customers can take a disbursement within 90 days from the date of sanction. Shubham shall disburse the Loan either in lump-sum or in suitable installments with reference to the progress of construction or on consideration of any other factors as determined by Shubham.

Loan Repayment

The EMI will be due on the 4th of every month.

For your convenience, SHDFC offers various modes for repayment of the loan. Customers may issue standing instructions to their bankers to pay the installments through NACH (National automated clearing house) or ECS.

Yes, customers can repay their home loan ahead of the schedule without any pre-payment charges.

Annual account statements and interest certificates are sent to all customers after the financial year closing. For any interim requirement, customers can contact the branch officials or our directly centralised customer care team through call/mail/letter. Interim requests are on chargeable basis.

Yes, customers can part pay their loan anytime during the tenure. There is no pre-closure penalty payable by the customer in case of partial or full prepayment.

Other Important Information

Customers are eligible for tax benefits on the principal and interest components of their Home Loan under the Income Tax Act, 1961.

Property cannot be transferred without repaying/clearing the existing loan taken from Shubham.

• Customers can make a request at the branch.
• Customers can call us on 01244212530/31/32
The request will get accepted after the personal details get verified by our customer care officer through a phone call.
Also after updating it in oursystem, an intimation call & query reference number will also be delivered to client's new registered contact no.

Customers will get the original documents along with an NOC within 15 working days from the foreclosure cheque clearance date.

Definitions

EMI refers to the 'Equated Monthly Instalment' which is the amount customers pay on a specific date each month till the loan is repaid in full.

Market value refers to the estimated amount that is expected to be fetched on the property as per the current market conditions.

The 'Agreement to Sell' in a property transaction is a legal document executed on a stamp paper that records in writing the understanding between the buyer and the seller and all the details of the property such as area, possession date, price etc.

An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

Pre-EMI is the interest on the loan amount disbursed. It is payable every month from the date of each disbursement until the commencement of the EMI payments.