Home Loan

CONTRARY TO POPULAR BELIEF, LOREM IPSUM IS NOT SIMPLY RANDOM TEXT.

CONTRARY TO POPULAR BELIEF, LOREM IPSUM IS NOT SIMPLY RANDOM TEXT.

CONTRARY TO POPULAR BELIEF, LOREM IPSUM IS NOT SIMPLY RANDOM TEXT.

APPLY YOUR LOAN ONLINE

I need detailed Cibil report?

In order to get a Home loan easily and quickly, you need to know the eligibility criteria, Interest rates, process, necessary documents, EMI comparison and transfer for lowest rates. As taking a home loan is a significant financial decision of our lives, you need to get more information about the current interest rates of different banks. Apart from this, try to know that how much amount you can draw from different banks as home loans.

Get familiar with the eligibility criteria put forward by the government and private banks. Explore a few things, such as which interest rate- fixed rate or floating rates, is more affordable and flexible, the mode of fund transfer, repayment options, etc. Knowing all these things will make it easier for you to strike a right financial deal.

You should go through the fine print and save the years to come in order to find a credit lender with 20 years term. A perfect home loan is that loan which comes with the lowest interest rates throughout its duration, allows you to transfer the balance and has the option of partial payment.

APPLY YOUR LOAN ONLINE

Documents and Eligibility

DOCUMENTS

  • Loan Application form
  • 2 Passport size photographs
  • Valid ID Proof:- Pan card, Aadhar card, Driving license, Voter card etc.
  • Valid Age Proof:- Adhar Card, Pan Card, 10th board Marksheet etc.
  • Current Address Proof:- Electricity Bill, Water bill, Rent agreement, Telephone bill, Other utility bills.
  • Past Address Proof:- Rent agreement, Electricity Bill, Telephone bill, other utility bill. Form-16 copy for last 3 years
  • Salary Slips of last 3 months.
  • 12 month bank statement.
  • Employment Proof
  • Signature Proof

Photocopy of all property documents & Approved Sanction Plan, if applicable

ELIGIBILITY

  • Minimum age of the applicant: 21 years
  • Maximum age of the applicant: 58 years
  • Minimum work experience: 1 Year
  • Minimum Net Monthly Income: ₹ 20,000

DOCUMENTS

  • Loan Application Form
  • 2 Passport size photographs
  • Valid ID Proof:- Pan card of the Company.
  • Office Residence Proof – Rent agreement, Electricity Bill, Telephone bill, other utility bill.
  • Business Existence Proof: 3 years old Saral Copy, the Company Registration license, Shop Establishment Act
  • Office Ownership Proof – Property Documents, Utility Bill, Maintenance Bill.
  • Income Proof: Audited financials for the last 2 years
  • Professional Degree certificate
  • 12 month bank statement.
  • Signature Proof

ELIGIBILITY

  • Minimum age of the applicant: 24 Years
  • Maximum age of the applicant: 65 Years
  • Minimum work experience: 3 Years
  • Minimum Net Annual Income: ₹ 1 lakh’

DOCUMENTS

  • Loan Application Form
  • 2 Passport size photographs
  • Valid ID Proof:- Pan card of the Company.
  • Office Residence Proof – Rent agreement, Electricity Bill, Telephone bill, other utility bill.
  • Business Existence Proof: 3 years old Saral Copy, the Company Registration license, Shop Establishment Act
  • Office Ownership Proof – Property Documents, Utility Bill, Maintenance Bill.
  • Income Proof: Audited financials for the last 2 years
  • Professional Degree certificate
  • 12 month bank statement.
  • Signature Proof

ELIGIBILITY

  • Minimum age of the applicant: 24 Years
  • Maximum age of the applicant: 65 Years
  • Minimum work experience: 3 Years
  • Minimum Net Annual Income: ₹ 1 lakh’

DOCUMENTS

  • Loan Application Form
  • 2 Passport size photographs
  • Valid ID Proof:- Pan card of the Company.
  • Office Residence Proof – Rent agreement, Electricity Bill, Telephone bill, other utility bill.
  • Business Existence Proof: 3 years old Saral Copy, the Company Registration license, Shop Establishment Act
  • Office Ownership Proof – Property Documents, Utility Bill, Maintenance Bill.
  • Income Proof: Audited financials for the last 2 years
  • Professional Degree certificate
  • 12 month bank statement.
  • Signature Proof

ELIGIBILITY

  • Minimum age of the applicant: 24 Years
  • Maximum age of the applicant: 65 Years
  • Minimum work experience: 3 Years
  • Minimum Net Annual Income: ₹ 1 lakh’

FREQUENTLY ASKED QUESTIONS

Q-1 What is a Home Loan?

It is a loan given by banks, NBFC and HFC to purchase, construct & renovate houses.

Q-2 What is the purpose of Home loan?

The Home loan is given by Banks, housing finance company and NBFC to purchase plots, flats, or construction of houses.

Q-3 What are the benefits of Home loan?
  • Capital appreciation in value of the property.
  • Lowest Interest rate to acquire the capital assets.
  • Tax benefit on interest paid for home loan.
  • Tax benefit on principal paid for home loan.
  • Sense of Stability.
  • Social Security.
Q-4 What is the maximum period of repayment of Home Loan?

Maximum 30 years (Subject to maximum age Limit).

Q-5 What is the basis of calculation of interest rates?

Interest is decided by the bank on the basis of quantum of loan , the risk associated with borrower & security covers.

Q-6 What is EMI?

EMI is the equally Monthly Installment to be paid by the borrower to the bank to repay the loan.

Q-7 Can a co-applicant apply for a Home loan?

Yes, Applicant can add co-applicant as a co-borrower to increase loan eligibility.

Q-8 Can I get tax benefit in case of Home Loan?

Yes, Borrower gets the tax benefit in repayment of loan & paying interest.

Q-9 Should the property be insured?

Yes, Property should be insured to cover the loss in case of any mishappening.