Jana Bank Home Loan
Jana Small Finance Bank Limited, also known as Jana Small Finance Bank, has emerged as a leading small finance bank in India, offering hassle-free financial services to eligible applicants with minimum documentation and terms and conditions. Starting at 9.75% per annum, the Jana Bank home loan is a fair enough deal for those keen to purchase a new home or improve an already-bought property. The maximum period for which one can avail of a Jana Small Finance Bank home loan is up to 30 years. To apply for a Home loan Jana Small Finance Bank, the applicant needs to pay a login fee cheque or processing fee cheque of up to 2% of the loan amount in favor of the bank.
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Jana Bank Home Loan Highlights
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| Loan Amount | Up to Rs. 50 lakh |
|---|---|
| Rate of Interest | 9.75% per annum |
| RPLR | |
| Processing Fee |
Up to 2% of the loan amount |
| Maximum Tenure for Repayment | 30 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/ Floater |
| Charges for Prepayment/Foreclosure | Floater: Nil | Fixed: 2% of the outstanding loan amount |
Jana Bank Home Loan Interest Rates in 2024
Jana Small Finance Bank offers easy housing loans at an attractive interest rate. The lowest Jana Bank home loan interest rate is 9.75% per annum, and the maximum Jana Bank home loan interest rate in 2023 is 16.75% per annum.
The table given below will give you a clear idea about the Jana Small Finance Bank home loan interest rate 2023:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Jana Regular Housing Loan | 9.75% - 16.75% p.a. |
| Jana Home Improvement Loan | 9.75% - 16.75% p.a. |
Interest rates were last updated on 4th December 2023
Jana Bank Home Loan Eligibility Criteria
Banks and NBFCs do not grant home loans without checking the eligibility of the applicant. Jana Small Finance Bank has also set certain common factors as eligibility criteria: nationality, age, employment status, minimum income, and CIBIL score. Without fulfilling this eligibility criterion, an applicant will find getting a home loan sanction from Jana Bank difficult.
The table below will give you a clear idea about the Jana Bank home loan eligibility criteria:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 25 - 75 | 25 - 75 |
| Nationality | Indian Residents/ PIOs/ NRIs | Indian Residents/ PIOs/ NRIs |
| Minimum Income Earned | Rs. 10,000 per month | Rs. 10,000 per month |
Jana Bank Home Loan Processing Fee and Charges
Every financial organization that grants services like home loans incur some cost to process such applications; therefore, they generally charge a processing fee. Jana Small Finance Bank charges up to 2% of the loan amount as the processing fee on home loan applications from all applicants.
The table highlights the updated Jana Bank home loan processing fees and charges for 2023:
| Loan Orientation Fee |
|
|---|---|
| Part Payment Charges |
|
| Cheque Bounce Charges | Rs. 300 + GST |
| Legal Charges | Rs. 2,500 + GST |
| Foreclosure Charges |
|
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Jana Bank Home Finance Schemes and Top Plans
Jana Small Finance Bank offers quick home loan schemes to eligible applicants. Whether you are a salaried, a self-employed Indian resident, an NRI, or a PIO, Jana Bank is ready to offer the best home loans if you meet the eligibility criteria set by them. Listed below are two popular housing loan schemes offered by Jana Bank:
Jana Regular Housing Loan
- Ideal for purchase of a new or resale home
- The maximum loan repayment period is up to 30 years
- The maximum loan amount is up to Rs. 50 lakh
Jana Home Improvement Loan
- Best housing loan scheme for improving or extending an already existing residential property
- The maximum period to repay the loan amount is up to 30 years
- The maximum loan amount is up to Rs. 50 lakh
Note: All of the above home loan plans are made available to applicants solely at the discretion of Jana Bank, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required to Apply for a Jana Bank Home Loan
To offer financial services like home loans, banks and NBFCs ask for certain documents to verify the credibility of the applicant based on their age, identity, income, and address. The Jana Bank home loan documents required list is displayed below for your reference, so make sure you arrange for the same before applying for a Jana Bank home loan.
Documents Required for Salaried Applicants
- Recent Salary Slips
- Recent Form 16
- Last 6 months Bank Statements
- Last 2 years Income Tax Returns
- Thoroughly filled home loan application form
- Latest passport-size photographs
- Login fee cheque in favour of Jana Small Finance Bank
Documents Required for Self-Employed Applicants
- Recent P&L account statements
- Last 6 months Bank Statements
- Last 2 years Income Tax Returns
- Thoroughly filled home loan application form
- Latest passport-size photographs
- Login fee cheque in favour of Jana Small Finance Bank
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof |
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| Documents Related to Property |
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Find Jana Bank Home Loan Offices Near You
Want to apply for a Jana Bank Home Loan by visiting the nearest branch? Why take the trouble? Choose the easy way out by filling out the Free Consultation form, and the efficient BASIC Home Loan team will contact you with the required information and assistance to apply for a Jana Bank home loan.
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
The minimum interest rate for a Jana Bank home loan starts at 9.75% p.a., and the maximum loan interest rate is 16.75% per annum.
You can pay your Jana Small Finance Bank home loan through various mediums. Such as through the bank's official website, mobile app, and other online bill payment apps.
Yes, a Jana Bank home loan borrower can enjoy tax benefits under Section 80C of the Income Tax Act. According to this, the home loan principal amount can be deducted for up to Rs. 1.5 lakh.
Yes, you can request Jana Housing Finance to extend your existing home loan tenure by giving them a written request application.
We suggest you check for the additional benefits on Jana Housing Finance by contacting the bank officials or visiting the nearest branch office.
To check the Jana Small Finance Bank home loan eligibility, refer to the bank's official website or visit their nearest branch.
The eligible age bracket for an applicant to apply for a Jana Bank home loan is a minimum of 25 to a maximum of 75 years (at the time of loan maturity).