A Loan For Your dream Home

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Basic Eligibility Criteria

Above 21 Years

Pan Card And Adhar Card

SaLARIED / Self Employed

Last 6 months bank Statement

Good Credit Score

salary Slip or ITR

Frequently Asked Questions

Home loan is a loan disbursed by a bank or financial institution (lender) to an individual specifically for buying a residential property. Here, the lender holds the title of property until the loan is paid back in full along with interest.

There are various types of home loans depending upon your specific requirement. Some of the key ones are as follows:

Land purchase loans: These loans are granted to individuals for the purchase of land on which they intend to build a house.

Home purchase loans: These are the most common type of home loans that is granted to individuals and they are granted for the purchase of an apartment.

Home construction loan: This type of loan is granted to individuals for the construction of a house on a plot of land that is already owned by the applicant.

Home Expansion/Extension Loan: This loan is specifically granted to individuals who want to expand their current home to include a new construction such as an additional floor, room, bathroom, etc.

Home Improvement Loan: Existing home owners who lack sufficient funds to renovate their existing home can apply for this loan to upgrade their home with a new paint job, electrical wiring, water proofing, etc.

Home conversion loans: Using this type of home loan, an existing home owner can add to their existing loan so that they can purchase a new house. This type of loan is only applicable to existing home owners.

NRI Home Loans: These home loans are specifically designed to provide non-resident Indians with financing so that they can purchase a home in India.

Anyone — whether self employed or salaried individuals/professionals — with a regular source of income can apply for home loans. One must be at least 21 years old when the loan period begins and should not exceed an age of 65 years when the loan ends or at the time of superannuation. This is the generic home loan eligibility criteria and specifics such as the minimum and maximum age limits, minimum income level, etc. may differ from one lender to another.

Home loans are long term borrowing instruments with a minimum tenure of 5 years and a maximum tenure of 30 years. The tenure offered to you for your personal loan depends on the loan amount that is sanctioned to you by the lender along with other factors.

The documents that need to be submitted may vary from one lender to the other. Some of the necessary documents to be submitted include the following-

  • Completed loan application form
  • Passport size photographs
  • Identity proof – PAN card/Passport/ DL/ Voters ID
  • Residence proof- telephone or electricity bill/ passport/ voter ID / property tax receipt
  • Bank statement for at least past 6 months and salary certificates/ latest acknowledged ITR
  • Copy of plan approved for the proposed construction/extension
  • Cost estimation/ valuation report from Bank’s (or finance company)  authorised surveyor/evaluator.
  • Allotment letter of housing board/ NOC of the society/Builder etc. as well as any other land use certificate/other