2023 2024 EduVark > Education Discussion > General Discussion


  #1  
August 29th, 2016, 08:53 AM
Super Moderator
 
Join Date: Mar 2012
NGIF Loan Indian Navy

Hii Guys , I want to know What is the Required Eligibility and Interest Rate for Naval Group Insurance Fund Loan in Indian Navy , Will you plzz tell me ?

The proposal for introducing a House Building Loan Scheme financed by the Naval
Group Insurance Fund and its broad parameters were approved by the General Body of the
Fund at its Annual General Meeting held at Vishakhapatnam on 20 October 87 and the
Govt approval for the same was accorded on 26 May 88.

Eligibility

All regular Naval serving personnel who are members of Naval Group Insurance Scheme
have rendered minimum 3 years service.

Re*employed/ last 02 years of residual service Naval personnel are not eligible.

The member must establish/satisfy that he would be in a position to meet the full cost of
the house/flat (taking into consideration the escalation in the cost) after availing the loan
sanctioned by the Govt. / NGIF and he would get a clear unencumbered title to the house/flat.

Quantum of Loan :

Loans are granted up to 90% of the Basic cost (i.e. excluding Registration, Stamp duty,
Parking, other expenses etc) of house/flat limited to following maximum amount:

(a) Officers * Rs. 40,00,000/*
(b) Sailors * Rs. 20,00,000/*
(c) Officers * Rs. 6,00,000/* (for alteration/addition/modification)
(d) Sailors * Rs. 3,00,000/* (for alteration/addition/modification)


Repaying Capacity = {60% (Total Emoluments) minus total deductions}

Second Loan is not permissible

Interest on Loan

The interest on the loan would be charged @ 9% per annum on monthly reducing balance
with one time processing/ admin charges of 0.5% of the loan sanctioned.

The rate of Interest is liable to change from time to time. In addition, Housing Loan to widows will be sanctioned at 1% below the prevailing rate of interest subject to investment of Insurance benefits with NGIF


For More Details Here I m Uploading pdf file You can Download free of Cost :
Attached Files
File Type: pdf Naval Group Insurance Fund Loan in Indian Navy.pdf (233.0 KB, 751 views)

Last edited by Neelurk; February 28th, 2020 at 04:15 PM.
Similar Threads
Thread
Sri Lankan Navy vs. Indian Navy
Merchant Navy or Indian Navy
Indian Navy Age
Indian Navy MCA
Indian Navy Plus Two
Indian Navy After BBA
Indian Navy MBA
Indian Navy And Indian Ocean
Japanese Navy and Indian Navy
SLT Indian Navy
Www.Indian Navy.Com
Indian Navy IT
PFR Indian Navy
Indian Navy SSB
Indian Navy Iac 1

  #2  
June 5th, 2017, 02:30 AM
Unregistered
Guest User
 

[QUOTE=Harsh Pandit;373297]
Sir call me
Kailash Chander
Mob. 8943957448
For home loan Ka lya


Quick Reply
Your Username: Click here to log in

Message:
Options



All times are GMT +5. The time now is 07:25 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
Content Relevant URLs by vBSEO 3.6.0

1 2 3 4 5 6 7 8