Home Loan
Buying a Home is the costliest purchase in one's life and it is equally important to choose a Home Loan partner who will look beyond loan transactions. Typically Home loans being 20-30 years tenure, the terms should be easy to understand and process simplified with utmost transparency. It’s that sense of security one feels when taking loan from various banks.
Home Loan start with 6.90% (Reducing) Rate of Interest and its depend according to customer CIBIL, Property location and Income basis. Types of Home Loan are as below,
1. Plot purchase and Construction (P+C)
2. Home Construction Loan
3. Home Purchase Loan
4. Home Renovation Loan
5. Home Extension Loan
6. Balance Transfer and Top Up Loan
7. Mortgage Loan
8. Registry Refinance (Newly Purchase case)
9. Commercial Loan (Shop)
Eligibility
Criteria for Home Loans
An individual, who wants to avail a
home loan, must fulfill the following general conditions to be eligible for the
loan. These criteria may vary from lender to lender.
Particulars |
Salaried |
Self-Employed
Individuals |
Age |
18 – 65 years |
18 – 65 years |
Employment |
Min. 2 years of
experience |
Min. 5 years of
experience |
CIBIL Score |
650 or above |
650 or above |
Documents Required for Home Loan
Mentioned
below are some common documents
required for availing a home loan. However, the requirements may vary
from bank to bank.