Features and Benefits of our Home Loan
A vast array of institutions offer you the best home loan rates at the most competitive rates and affordable EMIs.
- Home Construction Loan: If you have a plot of land and lack financial support to construct a home on that piece of property, you may choose a house construction loan. Such borrowing is mainly made to construct or repair a major part of your home.
- Home Extension Loan: Should you already own a home, and feel the need to extend the building, add an annexe, or build another floor, etc., Home Extension Loan is your go-to option that finances such needs.
- Home Improvement Loan: All of us wish to improve and upgrade our homes for a better life. From your old-age furniture, fixtures to faulty lightning systems, Home Improvement Loan funds all your plans.
- NRI Home Loan: If you are a patriot, a Non-Resident Indian, and wish to own residential property in India, NRI Home Loan is your answer. Though the formalities for application may be a little different.
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Home Loan Eligibility
The basic home loan eligibility criteria are as follows:
Age:
- You must be above 21 years of age at the time of the commencing of your loan, and up to 65 years or less at loan maturity
- Salaried Person – 21 years to 58 years
- Self-Employed Person – 25 years to 65 years
Income:
- Salaried Person – Minimum Rs. 10,000 per month
- Self-Employed Person – Minimum Rs. 2,00,000 per year
Employment:
- Salaried Person – Minimum 2 to 3 years of Experience in MNC, or a Private or Public Limited Company
- Self-Employed Person – Minimum 3 years of Experience in the current field
Credit Score:
- A credit score of 750 is considered a good score for approval.
Documentation for Home Loan
Income Proof Documents
1. Salaried Individuals
- Form 16
- Employee Identity Card
- 3 Months Salary Slip
- 6 Month Bank Account Statement
- Duration of Employment Evidence
2. Self-Employed Individuals
- PAN
- Trade License
- Partnership Deed
- Article of Association
- Memorandum of Association
- Import Export Code
- SEBI Registration Certificate
- ROC Registration Certificate
- Financial Statement Audited by CA
- Profit & Loss Account Statement
- Balance Sheet
- 6 Months Bank Account Statement
- Professional Practice License for Doctors, Consultants, etc
- Registration Certificate of Establishment for Shops, Factories, and Other Establishments
- Business Address Proof
3. Documents Required from all Non-Resident Indians (NRIs) Applicants
- Income Proof Documents for NRI
- Property Papers
- Property Documents
- Sale Deed
- Stamped Agreement of Sale
- Allotment Letter
- No Objection Certificate or NOC
- Housing Society
- Builder
- Possession Certificate
- Land Tax Receipt
- Construction Cost Estimate
- Bank Account Statement of Payment Made to Seller or Builder
- Payment Receipt of Payment Made to Seller or Builder
- Incase of resale property share certificate is required
- Occupancy Certificate