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    Home Loan Testing File

    Uploaded by

    jitendra tirthyani
    1. The document is a home loan calculation sheet for an applicant named Nava Vadaj from The Kalupur Commercial Co-operative Bank Ltd. 2. It details the applicant's financial information over the past 3 years, including income from salary, business, and other sources, and calculates monthly and annual averages. 3. Based on the applicant's total monthly income of Rs. 68,648 and existing loan obligations of Rs. 9,090, the proposed home loan of Rs. 25 lakh at 8.4% interest would result in an EMI of Rs. 24,473 and a total monthly obligation of Rs. 33,563, leaving a surplus monthly income of Rs. 35,084.

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    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd

    Home Loan Testing File

    Uploaded by

    jitendra tirthyani
    35 views2 pages
    1. The document is a home loan calculation sheet for an applicant named Nava Vadaj from The Kalupur Commercial Co-operative Bank Ltd. 2. It details the applicant's financial information over the past 3 years, including income from salary, business, and other sources, and calculates monthly and annual averages. 3. Based on the applicant's total monthly income of Rs. 68,648 and existing loan obligations of Rs. 9,090, the proposed home loan of Rs. 25 lakh at 8.4% interest would result in an EMI of Rs. 24,473 and a total monthly obligation of Rs. 33,563, leaving a surplus monthly income of Rs. 35,084.

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    Home loan Appraisal

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    1. The document is a home loan calculation sheet for an applicant named Nava Vadaj from The Kalupur Commercial Co-operative Bank Ltd. 2. It details the applicant's financial information over the past 3 years, including income from salary, business, and other sources, and calculates monthly and annual averages. 3. Based on the applicant's total monthly income of Rs. 68,648 and existing loan obligations of Rs. 9,090, the proposed home loan of Rs. 25 lakh at 8.4% interest would result in an EMI of Rs. 24,473 and a total monthly obligation of Rs. 33,563, leaving a surplus monthly income of Rs. 35,084.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    35 views2 pages

    Home Loan Testing File

    Uploaded by

    jitendra tirthyani
    1. The document is a home loan calculation sheet for an applicant named Nava Vadaj from The Kalupur Commercial Co-operative Bank Ltd. 2. It details the applicant's financial information over the past 3 years, including income from salary, business, and other sources, and calculates monthly and annual averages. 3. Based on the applicant's total monthly income of Rs. 68,648 and existing loan obligations of Rs. 9,090, the proposed home loan of Rs. 25 lakh at 8.4% interest would result in an EMI of Rs. 24,473 and a total monthly obligation of Rs. 33,563, leaving a surplus monthly income of Rs. 35,084.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 2

    HOUSING LOAN NAVA VADAJ

    THE KALUPUR COMMERCIAL CO-OPERATIVE BANK LTD.


    NOTE FROM NAVA VADAJ Branch
    HOME LOAN CALCULATION SHEET (EMI – BASIS) 2500000
    9 85% OF COST OF PROPERTY
    Cost of Property 2,780,000
    Stamp duty @ 5.9% 164,020
    Total Cost 2,944,020
    85% OF Total Value 2,502,417
    For Furniture / Renovation Work Quotation 0
    Rs. 5.00 Lacs whichever OR 85% of the quotation value, whichever is less
    Maximum Loan Eligibility 2,502,417
    Loan Applied 2500000
    Whichever is Less 2500000

    Financial Information
    Monthly
    A 1) APPLICANT A.Y. 2019-20 A.Y. 2018-19 A.Y. 2017-18 Annual Avg.
    Average
    Income from House Property 0 0 0 0 0.00
    Income from Salary 441808 471154 408000 456481 38040.08
    Income from Business 0 0 0 0 0.00
    Income from Other Sources
    0 0 0 0 0.00
    (Interest & Dividend)
    Interest Income 40849 37171 6948 39010 3250.83
    Income From Agriculture 0 0 0 0 0.00
    Add : Depreciation 0 0 0 0 0.00
    TOTAL CASH ACCRUAL 482,657 508,325 414,948 495,491 41,291
    Here I Consider last Two Year Income for Annual Average.

    Monthly
    A 2) APPLICANT A.Y. 2019-20 A.Y. 2018-19 A.Y. 2017-18 Annual Avg.
    Average
    Income from House Property 0 0 0 0 0.00
    Income from Salary 0 0 0 0 0.00
    Income from Business 105818 134214 279755 120016 10001.33
    Income from Other Sources
    217500 0 0 108750 9062.50
    (Accounting Fee)
    Interest Income 83900 115130 87089 99515 8292.92
    Income From Agriculture 0 0 0 0 0.00
    Add : Depreciation 0 0 0 0 0.00
    TOTAL CASH ACCRUAL 407,218 249,344 366,844 328,281 27,357
    Here I Consider last Two Year Income for Annual Average.
    TOTAL ANNUAL AVERAGE 823772
    TOTAL MONTHLY INCOME 68648
    B EXISTING LOAN OBLIGATIONS 9090
    C PROPOSED LOAN OBLIGATIONS ( Rs. 25 Lakh @ 8.40% For 180 Months EMI Basis ) 24473

    E TOTAL OBLIGATION 33563


    F SURPLUS INCOME 35084.67
    G EMI/NMI Ratio (%) 48.89
    H EMI/NMI RATIO AS PER CIRUCLAR(%)

    Income Slab PERMISSIBLE EMI/NMI APPLICABLE IN CASE N.A.


    Upto Rs. 2 Lakh 40.00%
    Above Rs. 2.00 L – Rs. 5.00 L 50.00%
    Above Rs. 5.00 L – Rs. 10.00 L 55.00% 48.89%
    Above Rs. 10.00 L 70.00%

    1 of 2
    HOUSING LOAN NAVA VADAJ

    10 BRANCH'S RECOMMENDATION WITH JUSTIFICATION


    Applicant Mr. Dinesh Kantilal Shah & Mrs. Meghna Dhavalkumar Shah is applied for Home Loan of rupees 10
    1
    lakh for purchasing of flat.
    2 Mr. Dinesh k Shah is aasociated with us since 1998 and 2nd applicant is daughter in law of Dinesh K Shah.
    Mr. Dinesh K Shah is doing business under name of Ronak Sales Agency and enjoying FDOD facility 1.93 lakh
    3
    sinceMeghna
    Mrs. 2012. conduct
    Dhavalbhai
    of account
    Shah satisfactory
    is doing service
    and maintaining
    in Ronak sales avgagency
    credit balance
    as salesmore
    executive
    than 2and
    lakhearning
    in FDOD15a/c.
    K Per
    4
    month.
    5 applicant enjoying various facility with us like locker, FDOD, Saving account,stFDR etc. Proof is eclosed.
    EMI/NMI ratio is 27.37% which is satisfactory as per master circular dated 1 August 2018 HO/Advances/44/2018-
    6
    19
    7 Interest rate is consider as per circular dated 02/01/2019 H.O./Advances/97/2018-19.
    8 Here I taken one guarantor for this Home loan as per circular dated 12/07/2018 H.O./ Advances/34/2018-19.
    Applicant
    Here provide
    I also mentiononecondition
    guarantor
    in for this home
    sanction letterloan
    i.e. i.e. Mr. Ronak
    borrower haveDtoshah he also
    execute doing service
    mortgage in Ronak
    of above mentionsales
    prime
    9
    agency and
    security andhe is son
    also of applicant
    create bank chargeMr. with
    Dinesh K Shah.
    society and revenue authorities within a period of 15 days and 6 months
    ### 02/01/2019 for interest rate based on CIR report.) (Subject to approval of Credit card deviation by H.O.
    respectively from the date of execution of Mortgaged deed. If non compliance of this condition bank will recover 1%
    11 Credit)
    penal interest from the date of first disbursement till the time it is complied.
    12 H. O RECOMMENDATION WITH JUSTIFICATION IN CASE OF DEVIATION WITH JUSTIFICATION
    Prepared
    Prepared &By: Jitendra Tirthyani
    Recommended By:
    Emp No: 1328
    Date: 18/11/2019
    Prepared By: Shachi Patel Branch Manager: Darshil Shah
    Emp No: 1211 Emp No: 661
    Date: 18/11/2019 Date: 18/11/2019

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