Bank One allows home loans to all its applicants with the loan amount as high as 85% of the cost of the overall property. The loan amount also includes the cost of the land and is based on the repayment capacity of the applicants. The maximum term of Bank One Home Loan extends up to 20 years which is subject to the applicant’s retirement age.
Bank One also allows co-owner of the property due to which the applicants can apply for the home loan jointly thus reducing their burden of repayment.
Bank One offers Home Loan under adjustable rates which are directly linked to Bank Ones Retail Prime Lending Rate (RPLR). An applicants rate on their home loan will be revised every three months starting from the first disbursement of the loan and if there are any changes in the RPLR, the interest rate on the loan will change.
Due to this, the interest rate for the Bank One Home Loan may decrease or increase. If the interest rate increases, the interest component in the EMI will increase due to which the principal component will decrease resulting in an extension in the overall loan term. With so many facilities, anyone can simply apply for a home loan from Bank One for their dream purchase of readymade, houses or personal bungalows.
Bank One has been serving the purpose of home loan for last three decades, keeping a huge combination of tastes, preferences and budget in its mind to satisfy variety of people with various tastes.
