Home Loan can be use for purchasing a new residential property, construction of house on a plot, home improvement, and extension and renovation of your existing house. Your house loan eligibility is calculated based on your age, net income, existing obligations, property type, LTV ratio, and other factors. Home loan EMI calculated on the loan amount, housing loan interest rate, and tenure. You can add an earning co-applicant (either be your spouse or your parents). Adding a co-applicant can increase your eligibility and you can avail for a higher amount of loan as your co-applicant’s income also get added to your income and that total is taken into consideration for calculating the loan amount your will be eligible for.
Types of home loan: New Home Loan/Home Improvement Loan/Home Extension Loan/Land Purchase Loan/Home Conversion Loan/NRI Home Loan/Home Loan Overdraft/Home Loan Top-Up/Home Loan Balance Transfer/Pre-Approved Home Loan
- Home loan available for both salaried and self-employed within the age group of 18 to 70 years.
- Loan Amount in the range of 1 lakh to 15 Cr.
- Loan Tenure range from 5 to 35 years.
- Home Loan rate of interest is starting from 8.25%.
- Processing fee is up to 1% of loan amount or maximum Rs. 10,000/-.
- Repayment charge is nil.
- Other charges like legal charges, technical charges, etc. will be applicable.
List of documents
Signed application form
Certificate and proof of business existence (for self-employed).
Property documents (past title chain – conveyance deed, sales deed, allotment letter, possession letter. Receipt of advance payment towards purchase of property in case of resale or booking with builder. Latest property tax receipt. Copy of approved plan for construction/extension