What Is Home Loan
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.
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Eligibility Criteria:
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Home loan available for both salaried and self-employed within the age group of 18
to 70 years.
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Loan Amount in the range of 1 lakh to 15 Cr.
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Home Loan rate of interest is starting from 8.25%.
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Processing fee is up to 1% of loan amount or maximum Rs. 10,000/-
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Repayment charge is nil.
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Other charges like legal charges, technical charges, etc. will be applicable
List of documents:
Signed application form with photograph
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ID proof (PAN card, Passport, Driving License, Aadhar Card, Voter ID card, Govt issued
I-Card).
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Address proof (Passport, DL, Voter ID Card, Electricity/Telephone/Mobile Bill, Bank
statement).
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Income proof.
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Age proof.
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Business track record (for self-employed).
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Copy of audited financial statements for the last 2 years (for self- employed).
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Property documents (past title chain – conveyance deed, sales deed, allotment letter,
possession letter).
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Receipt of advance payment towards purchase of property in case of resale or booking with
builder.
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Latest property tax receipt.
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Copy of approved plan for construction/extension.
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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.