Home Loans

1. Competitive Interest Rates: Benefit from low-interest rates, making your home loan affordable.
2. Flexible Repayment Options: Choose from various repayment plans tailored to your financial situation.
3. Quick and Easy Application Process: Enjoy a streamlined application process with minimal paperwork.
4. Expert Guidance: Receive personalized support from our experienced financial advisors.
5. High Loan-to-Value Ratio: Get up to 90% of the property value financed.
6. Tax Benefits: Avail tax deductions on both principal and interest payments.
7. Prepayment and Foreclosure: Make prepayments or foreclose your loan without hefty penalties.
8. Balance Transfer Facility: Transfer your existing home loan for better terms & lower Rate of Interest
9. Top-Up Loans: Access additional funds on your existing home loan for renovations or other needs.

• Nationality: Indian Residents, Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs)
• Credit Score: Preferably 750 and above
• Minimum Age: 18 years with some lenders setting the minimum age of 21 years
• Maximum Age: Usually 70 years at the time of loan maturity with some lenders extending the tenure till 75 years of age
• Work Experience: At least 2 years (for salaried)
• Business Continuity: At least 3 years (for self-employed)
• Minimum Salary: At least Rs. 25,000 per month (varies across lenders & locations)
• Loan Amount: Up to 90% of property value

The documents required to apply for a home loan are more or less the same across all banks and Housing Finance Companies (HFCs). However, home loan documents required may vary across lenders on the basis of your home loan type, property type, individual credit profile, etc. Here’s the list of key home loan documents that you will need to submit at the time of loan application.

• Completed and signed home loan application form
• Proof of Identity (any one): PAN Card, Passport, Aadhaar Card, Voter’s ID Card, Driving License
• Proof of Age: (any one): Aadhaar Card, PAN Card, Passport, Birth Certificate, 10th Class Marksheet, Bank Passbook, Driving License
• Proof of Residence: (any one): Bank Passbook, Voter’s ID, Ration Card, Passport, Utility bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill), LIC Policy Receipt, Letter from a recognized public authority verifying the customer’s address
• Proof of Income for salaried for self-employed
• Property documents

Document Required for Home Loan for Salaried

A salaried applicant has to show Proof of Income and Employment Contract / Appointment Letter if the current employment is less than a year old.

Proof of Income for Salaried

• Form 16
• Certified letter from Employer
• Payslip of last 3 months
• Increment or Promotion letter
• IT returns of past 3 years

Home Loan Documents for Self-Employed

Below-mentioned are the documents required for home loan by self-employed.

• Business Profile
• Latest Form 26 AS
• A list of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
• Partnership deed in case of the business entity being a partnership firm
• Memorandum and Articles of Association of the Company

Proof of Income for Self Employed

• Income Tax Returns (ITR) of last 3 years
• Balance Sheet and Profit & Loss Account Statement of the Company/Firm (duly attested by a C.A.)
• Business License Details (or any other equivalent document)
• The license of Professional Practice (For Doctors, Consultants, etc.)
• Registration Certificate of Establishment (For Shops, Factories & Other Establishments)
• Proof of Business Address

Home Loan Processing Fees & Other Charges

The processing fees and charges of housing loan may vary widely based on lenders and credit profiles of loan applicants. To give a fair idea of the home loan fees and charges, read the table below: