Headquartered in Chennai, Tamil Nadu, Repco Home Finance Limited (RHFL) is a proven and popular home loan financer with roots dating back to April 2000. This concern is registered with the National Housing Bank (NHB) and is currently operating with over 106 branches and 36 satellite centers across the South and Central Indian states. RHFL is committed to customer comfort and offering of the most cutting edge home loan products. In a distinct move that separates RHFL from the crowd, an exhaustive selection of 9 different housing loans are on offer. And, ably supported by a robust customer support initiative, choosing a loan product that works best for you is simpler and quicker than ever.
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Home Loans from Repco Home Finance Limited:
One of RHFL’s biggest strengths is the large number of specialized home loan products on offer. An exhaustive list of the same, alongside a brief description, is listed below-
- Dream Home Loan- The conventional housing loan that helps a borrower purchase or construct a new home/apartment/realty for residential use.
- Home Makeover Loan- As the name so clearly specifies, this loan is intended for the simple/radical makeover of your cherished home. Familiarity breeds boredom, right? Spice it up with a home makeover.
- Plot Loan- Loans that are intended for the purchase of a plot of land wherein eventually, a house will be built.
- Super Loan- True to its name, this loan simplifies and intensifies the joys of owning a home. In theory, the loan helps the borrower construct/extend a property built on land registered in the name of his/her parents.
- Fifty Plus Loan- Exclusive loan for persons above the age of 50 years. A thoughtful offering that configures the loan repayment cycle around the income stream (pension and other existing resources) of the borrower.
- NRI Housing Loan- Exclusive to Non Resident Indians (NRI) for the construction/purchase of house/property in India.
- Prosperity Loan- Loans against mortgage of immovable property, no questions asked as to the purpose for the loan.
- New Horizon Loan- This loan is dedicated to aid the purchase and/or construction of commercial/ non-residential property.
- Repco Rural- Loans upto Rs.15 lakhs that is applicable to the economically weaker sections of the society who wish to construct/purchase/repair/renovate/upgrade their house.
These varied loan options make Repco Home Finance an attractive proposition indeed. The image of a people friendly, ‘grassroots level undertaking’ that understands its target audience, has also made Repco Bank and consequently, RHFL, very popular.
Repco Bank Home Loan Interest Rate:
One of the highlights of the Repco Bank Home Loan is the attractive, customer friendly interest rates on offer. At just 10.50% p.a for housing loans upto Rs.30 lakhs and 10.75% p.a for loans above Rs.30 lakhs, the offering from RHFL is a very cost-effective option indeed. Interest rates are offered in both fixed and floating options.
Features and Benefits of Repco Home Finance:
The following customer centric benefits and defining features are ample reasons to choose Repco Home Finance as your ideal home loan provider, when you are out looking for the complete package-
- Apply for the home loan easily, online.
- Over 15 years’ experience in this specialty field ensures that Repco understands what it takes to compile an effective home loan- regards for the customer’s express needs and unique limitations.
- Nine different home loan products that match the prospective customer’s specific requirement, without him/her having to sign up for a comprehensive package.
- Repco Housing Finance is a big name in South India, with upwards of Rs.2,000 crores disbursed as home loans by 2014-15 financial year end. The company records year-on-year profits.
- Robust customer support, a traditional approach that hinges on the latest technological advancements.
- Wide network of branches in India.
- Save on taxes as per the tenets laid under the Income tax Act, 1961.
- The standard home loan application process involves limited documentation, zero red-tape, is completely hassle free with quick turnaround time.
- Very competitive interest rates.
Eligibility and Documentation:
A borrower must satisfy the following criteria to be eligible for a housing loan from Repco-
- The applicant must be an Indian citizen.
- He/she must be not be younger than 21 years at the time of loan application and over 65 years at loan maturity.
- The applicant must have a steady source of income.
- He/she must have a good credit history with no obvious red flags.
The following documents must be submitted at the initial application stage-
- Age Proof- Driver’s License, Voter’s ID, PAN Card, Birth Certificate, etc.
- Identity and Signature Proof- Banker’s Sign Verification, any of the documents as listed above.
- Address Proof- Ration card, Voter’s ID, Employer ID, Telephone Bill, etc.
- Proof for Student Status- ID proof from School/College, Receipt for the last fees paid.
- Income Proof- Latest salary slip, Salary certificate, Form 16/ IT computation for the last 3 years, Company’s appointment letter, 3 years audited financial statements with projection for next 2 years (for Businessmen), Brief write-up about the business.
- Banking History- 3 month’s credit card statement and 1 year bank statement.
- In Case of NRIs- Employment certificate, Contract document and details about renewal, Latest work permit, Identity card issued by the employer, Pay certificate (latest), NRE account statement for the last 6 months, etc.
Repco Home Finance LTD FAQ
- What are the fees applicable on my housing loan application?The two types of applicable fees are Processing fees and the Administrative fees. Both of these charges must be paid at the time of application. The processing fee ranges between 0.50%-1.00% of the applicable loan amount, while the administrative fees (paid post the sanction of the loan) ranges between 0.50%-1.00% as well.
- How much money will I be saving per my annual taxes?Your Repco Home Finance saves tax as per the Income Tax Act, 1961. Under Section 88, a borrower paying back interest repayment to the tune of Rs.1,50,000 p.a can save upto Rs.50,985 p.a. Also, the borrower will enjoy tax benefits under Sec 80C for the repayment of the principal amount upto Rs.1,00,000 p.a, an amount equaling about Rs.33,990 p.a.
- What type of securities/collateral is permissible?Guarantee from one/two people, deposit of shares or other such securities, life insurance policies, etc.
- How long does it take from the initial application to the final disbursement of funds?According to set procedures, it takes between 4-7 working days from the initial application stage to the final housing loan disbursement stage. Prospective borrowers are constantly intimated about the various procedures involved.
- What is the basic formula to determine a prospective customer’s eligibility for a home loan?At Repco, a potential customer’s eligibility for a home loan is determined based on three factors- 1) Income of the applicant/co-applicant, 2) Value of the property to be acquired, 3) The applicant’s capacity for repayment.
GST Rate of 18% Applicable for All Financial Services Effective July 1, 2017.
| BalanceSheet - Repco Home Finance Ltd. | |||||
Rs (in Crores)
| |||||
| Particulars | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 |
| Liabilities | 12 Months | 12 Months | 12 Months | 12 Months | 12 Months |
| Share Capital | 62.56 | 62.54 | 62.36 | 62.16 | 62.16 |
| Reserves & Surplus | 1074.67 | 892.29 | 749.75 | 678.90 | 572.36 |
| Net Worth | 1137.23 | 954.83 | 812.10 | 741.06 | 634.52 |
| Secured Loan | 6103.34 | 5522.22 | 4304.58 | 3308.53 | 2571.73 |
| Unsecured Loan | 350.00 | .00 | 60.00 | .00 | .00 |
| TOTAL LIABILITIES | 7590.56 | 6477.05 | 5176.69 | 4049.60 | 3206.26 |
| Assets | |||||
| Gross Block | 25.19 | 23.30 | 19.77 | 13.69 | 10.95 |
| (-) Acc. Depreciation | 16.07 | 14.04 | 10.84 | 8.70 | 6.48 |
| Net Block | 9.12 | 9.25 | 8.93 | 4.99 | 4.47 |
| Capital Work in Progress | .00 | .00 | .00 | .00 | .00 |
| Investments | 15.60 | 12.40 | 12.40 | 12.40 | 8.05 |
| Inventories | .00 | .00 | .00 | .00 | .00 |
| Sundry Debtors | .00 | .00 | .00 | .00 | .00 |
| Cash and Bank | 22.50 | 20.03 | 17.53 | 21.89 | 210.14 |
| Loans and Advances | 8996.12 | 7721.53 | 6036.83 | 4699.73 | 3569.79 |
| Total Current Assets | 9018.62 | 7741.55 | 6054.35 | 4721.63 | 3779.93 |
| Current Liabilities | 1287.62 | 1164.43 | 809.20 | 623.17 | 541.46 |
| Provisions | 165.16 | 121.73 | 89.79 | 66.25 | 44.74 |
| Total Current Liabilities | 1452.78 | 1286.16 | 898.99 | 689.42 | 586.19 |
| NET CURRENT ASSETS | 7565.84 | 6455.40 | 5155.36 | 4032.21 | 3193.74 |
| Misc. Expenses | .00 | .00 | .00 | .00 | .00 |
| TOTAL ASSETS(A+B+C+D+E) | 7590.56 | 6477.05 | 5176.69 | 4049.60 | 3206.26 |
Rs (in Crores)
Shri C. Selvarathinam vs Repco Bank on 31 January, 2009
Central Information Commission
Appeal No.CIC/PB/A/2008/01174-SM dated 24.3.2008
Right to Information Act-2005-Under Section (19)
Dated 31.01.2009
Appellant : Shri C. Selvarathinam
Respondent : Repco Bank
The Appellant along with Shri J. Muthukumaran and Shri V.S. Ponnambalam is present.
On behalf of the Respondent the following are present:-
(i) Shri S. Muthiah, OSD
(ii) Shri P. Natarajan, General Manager
(iii) Shri T.E. Thiruvengadam, General Manager I(Law) The brief facts of the case are as under:
The Appellant had requested the CPIO in the Repco Bank in his letter dated 24 March, 2008, to provide him copies of certain documents and information on some points. It appears that the Appellant had not deposited the requisite fee alongwith his application. The same was deposited on 05.05.2008 when the Bank had asked for it in his letter dated 21.04.08. Despite this when the information was not provided, the Appellant filed an appeal on 26.06.2008 with the First Appellate Authority. The FAA by his letter dated 03.06.2008 informed him that they will revert to the Appellant when he had deposited the requisite fee as demanded by the CPIO in his letter dated 21.04.2008. It appears from the correspondence between the Appellant and the FAA that despite reminders the Appellant did not receive the information sought by him. Not having received any response from the FAA, the Appellant approached the Commission in Second Appeal.
3. After hearing both the sides we direct the CPIO concerned to disclose the following information in addition to the information already given within 10 working days from the receipt of this order:-
(i) Cumulative amount of NPA for Chennai, Coimbatore, Salem and Bangalore Branch for the financial years 2003 - 04 to 2006 - 07.
(ii) Number of Loan Accounts closed under the OTS Scheme for the same Branches as above and for the same period.
(iii) List of itner-corporate deposit disposed year-wise between January, 1992 to February, 2008.
(iv) List of ICD closed under one time settlement if any in the past 20 years.
(v) List of loan disbursed to Board of Directors and their relative members during the same period.
(vi) The number of repatriate members who availed one time settlement in the past 10 years including the total amount year-wise.
4. In case any information is not available on account of non availability of relevant records the CPIO could clearly mention the reason for non availability of the records and provide the Appellant with a copy of the Bank's Manual by which those records have been weeded out and destroyed.
5. With the above directions the Appeal is disposed off.
6. Copies of this order be given free of cost to the parties.
(Satyananda Mishra) Information Commissioner Authenticated true copy. Additional copies of orders shall be supplied against application and payment of the charges prescribed under the Act to the CPIO of this Commission.
(Vijay Bhalla) Assistant Registrar
Profit & Loss account of Repco Home Finance | ------------------- in Rs. Cr. ------------------- |
| Mar '17 | Mar '16 | Mar '15 | Mar '14 | Mar '13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12 mths | 12 mths | 12 mths | 12 mths | 12 mths | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sales Turnover | 1,044.18 | 880.68 | 692.20 | 534.15 | 405.71 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Sales | 1,044.18 | 880.68 | 692.20 | 534.15 | 405.71 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income | 1.71 | 1.17 | 0.82 | 1.20 | 0.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Income | 1,045.89 | 881.85 | 693.02 | 535.35 | 405.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Expenditure | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Cost | 43.11 | 40.93 | 33.50 | 21.05 | 14.09 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selling and Admin Expenses | 2.74 | 2.45 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Miscellaneous Expenses | 69.50 | 55.58 | 38.63 | 38.00 | 17.92 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Expenses | 115.35 | 98.96 | 72.13 | 59.05 | 32.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mar '17 | Mar '16 | Mar '15 | Mar '14 | Mar '13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12 mths | 12 mths | 12 mths | 12 mths | 12 mths | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Profit | 928.83 | 781.72 | 620.07 | 475.10 | 373.70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PBDIT | 930.54 | 782.89 | 620.89 | 476.30 | 373.96 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest | 646.31 | 548.27 | 431.77 | 324.75 | 265.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PBDT | 284.23 | 234.62 | 189.12 | 151.55 | 108.31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Depreciation | 3.56 | 4.15 | 2.95 | 2.41 | 1.52 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Written Off | 0.50 | 0.39 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Profit Before Tax | 280.17 | 230.08 | 186.17 | 149.14 | 106.79 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PBT (Post Extra-ord Items) | 280.17 | 230.08 | 186.17 | 149.14 | 106.79 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax | 97.92 | 80.00 | 63.09 | 39.03 | 26.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported Net Profit | 182.25 | 150.08 | 123.08 | 110.10 | 80.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Value Addition | 115.35 | 98.96 | 72.13 | 59.05 | 32.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Dividend | 0.00 | 11.26 | 9.35 | 7.46 | 6.84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corporate Dividend Tax | 0.00 | 2.29 | 1.96 | 1.27 | 1.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Per share data (annualised) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shares in issue (lakhs) | 625.61 | 625.41 | 623.58 | 621.61 | 621.61 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earning Per Share (Rs) | 29.13 | 24.00 | 19.74 | 17.71 | 12.87 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Dividend (%) | 20.00 | 18.00 | 15.00 | 12.00 | 11.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Book Value (Rs) | 181.78 | 152.67 | 130.23 | 119.22 | 102.08 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Source : Dion Global Solutions Limited
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ORIGIN
Repatriates Cooperative Finance and Development Bank Ltd., (REPCO BANK) was registered on 19.11.1969 as a Cooperative Society under the relevant provisions of Madras Cooperative Societies Act, 1961 with Jurisdiction over the State of Tamilnadu, Andhra Pradesh, Karnataka, Kerala and Union Territory of Puducherry for the purpose of promoting the rehabilitation activities for repatriates from neighbouring countries mainly from Sri Lanka and Burma. Though originally registered under the Madras Cooperative Societies Act, 1961, the Bank is deemed to be registered under the Multi State Cooperative Societies Act, 2002.
ADMINISTRATION
The Bank is under the administrative control of FFR Division, Ministry of Home Affairs, Govt. of India. Constitutionally, the Bank is a Multi State Cooperative Society. The Bank was promoted by Government of India, Ministry of Home Affairs in association with the State Governments of Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. The Society’s rules and regulations are governed by its byelaws. On the recommendation of Govt. of India, the Reserve Bank of India under section 7(1) of Banking Regulation Act, 1949 permitted this Institution to use the word “BANK” by Notification S.O. 626 dated 19.01.1972. In terms of the byelaws, as the share of the Government is more than 51%, the Board of Directors are appointed by the Govt. of India.
JURISDICTION
The area of operation of the bank covers the south Indian states viz., Tamil Nadu, Andhra Pradesh, Karnataka, Kerala,
and the Union Territory of Puducherry.
OWNERSHIP
The share capital of the Bank is controlled by Government of India, Governments of 4 Southern States namely Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Repatriates. The present shareholding pattern as on 31.03.2017 is furnished here below:
| SHARE CAPITAL AS ON 31.03.2017 | |||
| Sl. No. | Share Holders | Share Capital Amount (Rs.) | % of Share Holding |
| 1 | Government of India | 763200000 | 49.25 |
| 2 | Government of Tamil Nadu | 71300000 | 4.60 |
| 3 | Government of Andhra Pradesh | 10419700 | 0.67 |
| 4 | Government of Telangana | 7545300 | 0.49 |
| 4 | Government of Kerala | 6116000 | 0.39 |
| 5 | Government of Karnataka | 1747000 | 0.11 |
| 6 | Repatriates | 689606400 | 44.49 |
| Total | 1549934400 | 100. | |
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