RBS – Royal Bank of Scotland Home Loan | Interest Rates| Eligibility| Information

Royal Bank of Scotland Home Loan – Compare Interest Rates, Eligibility, EMI and Documents of RBS home loan and Apply Online.

Enjoy Flexible Home Loan Schemes! You can get a home loan sanctioned from The Royal Bank of Scotland N.V. if you have just decided to acquire a Home in the near future, i.e. even before selecting a home.

The Revised benchmark rates are:

• Mortgages Floating Reference Rate (MFRR) = 11.50%
• Home Prime Lending Rate (HPLR) = 12.50%

Various types of loans available –

• Home Loan (Construction or Purchase)
• Residential Home Equity (Loan Against Property – Residential)
• Secured Overdraft (Residential)

Other loan products available to existing RPB customers –

• RBS Renovation Loan – Transform a house into a personalized home to live in. The RBS Renovation Loan offers up to 100% of the cost estimate subject to 30% of the market value of the property.
• RBS Home Extension Loan – A growing family needs more space. With the RBS Home Extension Loan, you can take up to 85% of the cost estimate subject to 80% of the market value of the property.
• RBS Top–up Loan – After taking a RBS Home Loan, you can further cement the relationship by taking a top-up loan for other financial needs like marriage, education etc, against the same property. Speak to our loan counsellors at Bank Branches to find how you much savings you can enjoy by switching over to RBS N.V. Home Loan.
• RBS Offers Loan against Residential Properties – Any real estate / property belonging to you can be used as a low cost funding option for your business, higher education, medical expenses or wedding in the family. In fact, the loan can be used for any legitimate purpose.
• Secured Overdraft is an overdraft facility against your real estate (residential) – Offering unbelievable savings and unmatched flexibility, the Home Equity Overdraft allows you to pay interest only on the funds you withdraw. These flexible slab-based interest plans offer the benefit of only 1% of spends as minimum amount due every month or Rs. 5000/- which ever is lesser.

Eligibility Criteria of RBS Home Loan –

The common set of documents for all categories of customers is listed below:

• Passport size photographs of all applicants
• Age verification proof (copy of passport, birth certificate, driving license, school leaving certificate)
• Bank statements for the last six months (Salary account for employed and main account for self employed)

The income documents needed for the Loans are as follows:
For Salaried individuals

• Latest Salary Certificate/ Last 2 months Salary Slips showing all deductions from employer
• Latest Form No.16
• Appointment/ Latest increment letter from employer for annual benefits

For Self – employed individuals

• Income Tax returns for the last 2 years duly Certified by a Chartered Accountant
• Balance Sheets and Profit & Loss Account of the business/ profession and individual for the last 2 years duly certified by a Chartered Accountant.(Form 16A also required for Consultants)
• Memorandum/ Articles of Association of company, partnership deed for firms and profile of your company/ firm giving details of organisational structure, clients, suppliers, etc.