{"id":275,"date":"2024-04-29T05:44:48","date_gmt":"2024-04-29T05:44:48","guid":{"rendered":"https:\/\/credpaisa.com\/?page_id=275"},"modified":"2024-04-30T05:41:00","modified_gmt":"2024-04-30T05:41:00","slug":"home-loan","status":"publish","type":"page","link":"https:\/\/credpaisa.com\/?page_id=275","title":{"rendered":"Home Loan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"275\" class=\"elementor elementor-275\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a1ae617 e-flex e-con-boxed e-con e-parent\" data-id=\"a1ae617\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-65d4a44 elementor-widget elementor-widget-text-editor\" data-id=\"65d4a44\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 class=\"ekit-heading--title elementskit-section-title \" style=\"text-align: center;\">Compare &amp; Apply Home Loan Online<\/h2><div class=\"ekit-heading__description\"><section class=\"elementor-section elementor-top-section elementor-element elementor-element-1057dc3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1057dc3\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d63d102\" data-id=\"d63d102\" data-element_type=\"column\"><div class=\"elementor-widget-wrap elementor-element-populated\"><div class=\"elementor-element elementor-element-b0ebeaa elementor-widget elementor-widget-elementskit-heading\" data-id=\"b0ebeaa\" data-element_type=\"widget\" data-widget_type=\"elementskit-heading.default\"><div class=\"elementor-widget-container\"><div class=\"ekit-wid-con\"><div class=\"ekit-heading elementskit-section-title-wraper text_left ekit_heading_tablet- ekit_heading_mobile-text_center\"><div class=\"ekit-heading__description\"><p style=\"text-align: center;\">Avail home loans up to Rs.10 crore with interest rates starting at 7.25% p.a. with additional benefits such as extended loan terms and flexible repayment options. Simple documentation, quick processing, and an excellent customer service with a response time of 30 \u2013 45 minutes makes BankBazaar a go-to place for all your housing loan needs.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3831e750 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3831e750\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-686fc989\" data-id=\"686fc989\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-32fece1 elementor-widget elementor-widget-text-editor\" data-id=\"32fece1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><form action=\"\" class=\"loancomparison_form\" method=\"POST\" id=\"loancomparison_form\"><div class=\"loancomparison_form_header\">\n\t<div class=\"loancomparison_sliders\"><div class=\"loancomparison-range loancomparison-slider-principal loancomparison-slider-\">\n\t\t<div class=\"loancomparison_slider_output\"><div class=\"output-pad\"><span class=\"circle-down circle-control\"><\/span><span class=\"output-number\"><span class=\"output-label\">Amount:<\/span> <output><\/output><\/span><span class=\"circle-up circle-control\"><\/span><\/div><\/div>\n\t<input type=\"range\" class=\"sc_loan_amount\" name=\"loan-amount\" min=\"1\" max=\"28\" value=\"10\" step=\"1\" data-loancomparison>\n\t<\/div><div class=\"loancomparison-range loancomparison-slider-term loancomparison-slider-\">\n\t\t<div class=\"loancomparison_slider_output\"><div class=\"output-pad\"><span class=\"circle-down circle-control\"><\/span><span class=\"output-number\"><span class=\"output-label\">Term:<\/span> <output><\/output><\/span><span class=\"circle-up circle-control\"><\/span><\/div><\/div>\n\t<input type=\"range\" name=\"loan-period\" min=\"1\" max=\"31\" value=\"15\" step=\"1\" data-loancomparison>\n\t<\/div>\n\t<div style=\"clear:both\"><\/div><\/div><\/div><div class=\"loancomparison_rates\"><\/div>\n\t\t<div id=\"lc_show_more\"><div class=\"bg\"><\/div>\n\t\t<div class=\"fg\">Show more results<\/div><\/div>\n\t\t<\/form><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-29ca6fc0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"29ca6fc0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3d4c3b2\" data-id=\"3d4c3b2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74c0031d elementor-widget elementor-widget-heading\" data-id=\"74c0031d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mortage Calculator<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37b7d6ee elementor-widget elementor-widget-shortcode\" data-id=\"37b7d6ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><form action=\"https:\/\/credpaisa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fpages%2F275#lidd_mc_form\" id=\"lidd_mc_form\" class=\"lidd_mc_form\" method=\"post\"><div class=\"lidd_mc_input lidd_mc_input_light lidd_mc_input_responsive\"><label for=\"lidd_mc_total_amount\">Mortgage Amount<\/label><input type=\"text\" name=\"lidd_mc_total_amount\" id=\"lidd_mc_total_amount\" placeholder=\"\u20b9\" value=\"300000.00\" \/><span id=\"lidd_mc_total_amount-error\"><\/span><\/div><div class=\"lidd_mc_input lidd_mc_input_light lidd_mc_input_responsive\"><label for=\"lidd_mc_down_payment\">Down Payment (\u20b9)<\/label><input type=\"text\" name=\"lidd_mc_down_payment\" id=\"lidd_mc_down_payment\" placeholder=\"\u20b9\" value=\"60000.00\" \/><span id=\"lidd_mc_down_payment-error\"><\/span><\/div><div class=\"lidd_mc_input lidd_mc_input_light lidd_mc_input_responsive\"><label for=\"lidd_mc_interest_rate\">Interest Rate (%)<\/label><input type=\"text\" name=\"lidd_mc_interest_rate\" id=\"lidd_mc_interest_rate\" placeholder=\"%\" value=\"5.00\" \/><span id=\"lidd_mc_interest_rate-error\"><\/span><\/div><div class=\"lidd_mc_input lidd_mc_input_light lidd_mc_input_responsive\"><label for=\"lidd_mc_amortization_period\">Amortization Period (years)<\/label><input type=\"text\" name=\"lidd_mc_amortization_period\" id=\"lidd_mc_amortization_period\" placeholder=\"years\" value=\"30\" \/><span id=\"lidd_mc_amortization_period-error\"><\/span><\/div><input type=\"hidden\" name=\"lidd_mc_payment_period\" id=\"lidd_mc_payment_period\" value=\"12\" \/><div class=\"lidd_mc_input\"><input type=\"submit\" name=\"lidd_mc_submit\" id=\"lidd_mc_submit\" value=\"Calculate\"\/><\/div><\/form><form action=\"https:\/\/www.mlcalc.com\/\" method=\"post\" id=\"lidd_mc_mlc_form\" target=\"MLCalcFrame\"><input type=\"hidden\" name=\"ml\" value=\"mortgage\" \/><input type=\"hidden\" name=\"cl\" value=\"true\" \/><input type=\"hidden\" name=\"wg\" value=\"widget\" \/><input type=\"hidden\" name=\"wt\" value=\"rmc\" \/><input type=\"hidden\" name=\"cr\" value=\"usd\" \/><input type=\"hidden\" name=\"cr\" value=\"\" \/><input type=\"hidden\" name=\"wl\" value=\"en\" \/><input type=\"hidden\" name=\"ma\" value=\"300000.00\" \/><input type=\"hidden\" name=\"dp\" value=\"60000.00\" \/><input type=\"hidden\" name=\"mt\" value=\"30\" \/><input type=\"hidden\" name=\"ir\" value=\"5.00\" \/><input type=\"hidden\" name=\"pt\" value=\"0\" \/><input type=\"hidden\" name=\"pi\" value=\"0\" \/><input type=\"hidden\" name=\"mi\" value=\"0\" \/><\/form><div id=\"lidd_mc_details\" class=\"lidd_mc_details\"><div id=\"lidd_mc_results\" class=\"lidd_mc_results\"><\/div><span id=\"lidd_mc_inspector\"><img decoding=\"async\" data-src=\"https:\/\/credpaisa.com\/wp-content\/plugins\/responsive-mortgage-calculator\/img\/icon_graph.png\" width=\"12\" alt=\"home loan\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 19px; --smush-placeholder-aspect-ratio: 19\/18;\" \/><\/span><\/div><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-52cd4703 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"52cd4703\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5d6ca5e4\" data-id=\"5d6ca5e4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75023316 elementor-widget elementor-widget-heading\" data-id=\"75023316\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><span style=\"font-family: Lato, Helvetica, Arial, sans-serif;font-size: 28px;font-style: normal;font-weight: 700;text-align: center;white-space: normal;background-color: transparent\">Top Home Loan Schemes &amp; Offers<\/span><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c89e051 elementor-widget elementor-widget-text-editor\" data-id=\"1c89e051\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>1. SBI Bridge Home Loan \u2013 Best for Short-Term Requirements<br \/><br \/><\/h3><ul><li>Attractive interest rates starting from 9.90% p.a.<\/li><li>Processing fee of 0.35% of the loan amount<\/li><li>Loan tenures of up to 2 years.<\/li><li>No prepayment penalty<\/li><li>No hidden charges<br \/><br \/><h3>2. Aditya Birla Capital Home Loan \u2013 Best for Low Interest Rate<br \/><br \/><\/h3><ul><li>Low interest rates starting from 9% p.a.<\/li><li>Processing fee of up to 1% of the loan amount<\/li><li>Loan tenures of up to 30 years<\/li><li>Zero prepayment charges<\/li><li>Balance transfer option available<br \/><br \/><\/li><\/ul><h3>3. ICICI Bank Extra Home Loans\u2013 Best for Long Term Requirements<br \/><br \/><\/h3><ul><li>Low interest rates starting from 8.25% p.a.<\/li><li>Maximum loan tenure of 30 years<\/li><li>Low processing fee of 0.5% of the loan amount<\/li><li>For both salaried and self-employed individuals<\/li><li>No prepayment charges<br \/><br \/><\/li><\/ul><h3>4. Canara Bank Housing Loan \u2013 Best Interest Rate for Women<br \/><br \/><\/h3><ul><li>Low interest rates for women starting from 8.05% p.a.<\/li><li>Maximum repayment tenure of 30 years<\/li><li>Processing fee of up to 0.50% of the loan amount<\/li><li>Can be used to purchase or construct a house\/flat<\/li><li>Zero prepayment charges<br \/><br \/><\/li><\/ul><h3>5. Axis Bank Home Loan \u2013 Best Interest Rate for Salaried Employees<br \/><br \/><\/h3><ul><li>Low interest rates starting from 8.55% p.a.<\/li><li>Loan amount of up to Rs.5 crore<\/li><li>Maximum repayment tenure of 30 years<\/li><li>Processing fee of up to 1% of the loan amount<\/li><li>No prepayment\/foreclosure charges<br \/><br \/><\/li><\/ul><h3>6. SBI Home Loan \u2013 Joint Home Loan<br \/><br \/><\/h3><ul><li>Low interest rates starting from 7.35% p.a.<\/li><li>Maximum loan tenure of 30 years<\/li><li>Processing fee of 0.40% of the loan amount<\/li><li>No hidden charges<\/li><li>Women borrowers get interest concession<br \/><br \/><\/li><\/ul><h3>7. HDFC Reach Home Loans for self-employed professionals<br \/><br \/><\/h3><ul><li>Attractive interest rates starting from 9% p.a.<\/li><li>Flexible repayment tenures of up to 30 years<\/li><li>Processing fee of 2% of the loan amount<\/li><li>Minimal documentation with minimum income of Rs.2 lakh p.a.<\/li><li>Add a woman co-owner for lower interest rates<br \/><br \/><\/li><\/ul><h3>8. LIC HFL Home Loan for Pensioners\/Senior Citizen<br \/><br \/><\/h3><ul><li>Low interest rates starting from 8.10% p.a.<\/li><li>Repayment tenure of up to 15 years or till 70 years of age<\/li><li>Processing fee ranging between Rs.10,000 and Rs.15,000<\/li><li>Loan to be repaid before the age of 70<\/li><li>Individuals above the age of 50 having a pension scheme but still employed can also apply<br \/><br \/><\/li><\/ul><h3>9. SBI Privilege Home Loan for Government Employees<br \/><br \/><\/h3><ul><li>Low interest rates starting from 7.35% p.a.<\/li><li>Zero processing fee<\/li><li>Loan tenure of up to 30 years<\/li><li>Reduced interest rates for women borrowers<\/li><li>Interest concession when checkoff is provided<br \/><br \/><\/li><\/ul><h3>10. Axis Bank NRI Home Loan<br \/><br \/><\/h3><ul><li>Attractive interest rates starting from 8.55% p.a.<\/li><li>Flexible loan tenures of up to 25 years<\/li><li>Minimal documentation and quick disbursal<\/li><li>Minimal processing fee<\/li><li>Zero foreclosure charges<br \/><br \/><\/li><\/ul><h3>11. HDFC Ltd. Home Loan for Purchase<br \/><br \/><\/h3><ul><li>Low interest rates starting from 7.85% p.a.<\/li><li>Flexible loan tenures of up to 30 years<\/li><li>Processing fee of up to 0.50% of the loan amount<\/li><li>Special arrangement for Indian army employees through partnership with AGIF<\/li><li>Legal and technical counseling from experts<br \/><br \/><\/li><\/ul><h3>12. Indiabulls Housing Finance Loan for Construction<br \/><br \/><\/h3><ul><li>Attractive interest rates starting from 8.99% p.a.<\/li><li>Flexible repayment options<\/li><li>Processing fee of up to 2% of the loan amount<\/li><li>No prepayment charges<\/li><li>End-to-end loan processing on the website or mobile application<br \/><br \/><\/li><\/ul><h3>13. DHFL Home Renovation Loan<br \/><br \/><\/h3><ul><li>Interest rate starting from 9.50% p.a.<\/li><li>Maximum loan tenure of 10 years<\/li><li>Processing fee of Rs.2,500<\/li><li>Loan amount of up to 90% of the market value or 100% of the estimated cost of improvement<\/li><li>Available for both salaried and self-employed individuals<br \/><br \/><\/li><\/ul><h3>14. PNB HFL Plot Loan: Best Home Loan for Plot and Construction<br \/><br \/><\/h3><ul><li>Attractive rates starting from 9.95% p.a.<\/li><li>Flexible loan tenures of up to 30 years<\/li><li>Processing fee of up to 0.5% of the loan amount<\/li><li>Loan enhancement in case of escalating costs<\/li><li>Quick loan application and approval process<br \/><br \/><\/li><\/ul><h3>15. Best Home Loan for Existing Customers: HDFC Ltd. Home Loan for Existing Customers<br \/><br \/><\/h3><ul><li>Low interest rates starting from 7.85% p.a.<\/li><li>Maximum tenure of 30 years<\/li><li>Processing fee of 0.5% of the loan amount<\/li><li>Quick loan disbursal<\/li><li>Can add co-applicant to increase loan amount<br \/><br \/><\/li><\/ul><h3>16. SBI Realty Home Loan: Best Home Loan for Land Purchase<br \/><br \/><\/h3><ul><li>Low interest rates starting from 8.05% p.a.<\/li><li>Maximum tenure of 10 years<\/li><li>Processing fee of up to 0.4% of the loan amount<\/li><li>Maximum loan amount of up to Rs.15 crore<\/li><li>Interest rate concession for women borrowers<br \/><br \/><\/li><\/ul><h3>17. HDFC Ltd. Home Loan Balance Transfer: Best Home Loan Balance Transfer<br \/><br \/><\/h3><ul><li>Interest rates starting from 7.85% p.a<\/li><li>Avail additional top-up loan of up to Rs.50 lakh<\/li><li>Loan tenure of up to 30 years<\/li><li>Processing fee of up to 0.5% of the loan amount<\/li><li>Adding a co-applicant can further maximize the loan amount<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6555a86a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6555a86a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-39fa9366\" data-id=\"39fa9366\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-226266c2 elementor-widget elementor-widget-heading\" data-id=\"226266c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Home Loan Eligibility<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36b7263 elementor-widget elementor-widget-text-editor\" data-id=\"36b7263\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table id=\"eael-data-table-76bee6df\" class=\"tablesorter eael-data-table center\"><thead><tr class=\"table-header\"><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Type<\/span><\/th><th id=\"\" class=\"\" colspan=\"\">Documents<\/th><\/tr><\/thead><tbody><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Age<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Minimum Age: 18 years and Maximum Age: 70 years<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Resident Type<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>The applicant must be (any one):<\/p><ul><li>Resident Indian<\/li><li>Non-Resident India (NRI)<\/li><li>Person of Indian Origin (PIO)<\/li><\/ul><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Employment<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>The applicant can be (any one):<\/p><ul><li>Salaried<\/li><li>Self-employed<\/li><\/ul><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Net Annual Income<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>At least Rs.5-6 lakh depending on the type of employment<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Residence<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>The applicant must have (any one):<\/p><ul><li>A permanent residence<\/li><li>A rented residence where he\/she has resided for at least a year prior to applying for a loan<\/li><\/ul><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Credit score<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">A good credit score of at least 750 or more obtained from a recognised credit bureau<\/div><\/div><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4f0ef317 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4f0ef317\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-46c249bc\" data-id=\"46c249bc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-68408a32 elementor-widget elementor-widget-heading\" data-id=\"68408a32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Home Loan Documents Required<br><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92b9853 elementor-widget elementor-widget-text-editor\" data-id=\"92b9853\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table id=\"eael-data-table-67b7d40\" class=\"tablesorter eael-data-table center\"><thead><tr class=\"table-header\"><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Identity Proof (any one)<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Residence Proof (any one)<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Other Documents<\/span><\/th><\/tr><\/thead><tbody><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Driving License<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Copy of Electricity Bill\/Water Bill\/Telephone Bill<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Employer Identity Card<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">PAN<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Copy of valid Passport\/Aadhar Card\/Driving License<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Duly filled loan application form affixed with 3 passport size photograph<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Voter ID<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Loan account statement for the previous 12 months if the applicant has any other ongoing loan from other banks\/financial institutions<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Valid Passport<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Bank account statements for all the bank accounts owned by the applicant for the last six months<\/p><\/div><\/div><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-36e165dc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"36e165dc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-415a9583\" data-id=\"415a9583\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c2a5d2e elementor-widget elementor-widget-heading\" data-id=\"4c2a5d2e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Income Proof Documents<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0568125 elementor-widget elementor-widget-text-editor\" data-id=\"0568125\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table id=\"eael-data-table-8813225\" class=\"tablesorter eael-data-table center\"><thead><tr class=\"table-header\"><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">For Self-employed Applicant\/Co-applicant:<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">For Salaried Applicant\/Co-applicant:<\/span><\/th><\/tr><\/thead><tbody><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Income Tax Returns for the last 3 years<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Salary Slips for the last three months<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Certificate of Qualification (for Doctors\/C.A. and other professionals)<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><table class=\"table table-striped\"><tbody><tr><td>Copy of Form 16 or Income Tax Returns for the last two years<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Balance Sheet audited by a certified C.A and Profit and Loss account for the previous 3 years<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Business License Details<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Business address proof<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">TDS Certificate<\/div><\/div><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5efef2ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5efef2ce\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7d3f6c6e\" data-id=\"7d3f6c6e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-532047ed elementor-widget elementor-widget-heading\" data-id=\"532047ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h2 style=\"margin-bottom: 10px;line-height: normal;font-size: 28px;color: #000000;font-family: Lato, Helvetica, Arial, sans-serif;font-style: normal;white-space: normal\">Documents Required from all Non-Resident Indians (NRIs) Applicants<\/h3><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55e1bc1 elementor-widget elementor-widget-text-editor\" data-id=\"55e1bc1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table id=\"eael-data-table-a55c9a7\" class=\"tablesorter eael-data-table center\"><thead><tr class=\"table-header\"><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Identity Proof (any one)<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Residence Proof (any one)<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Other Documents<\/span><\/th><\/tr><\/thead><tbody><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">PAN<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Content<\/p><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Attested copy of the applicant\u2019s\/co-applicants\u2019\/guarantor\u2019s valid passport and visa<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Valid Passport<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Electricity bill<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Proof of residence indicating the applicant\u2019s current overseas address<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Driver\u2019s License<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><table class=\"table table-striped\"><tbody><tr><td>Water bill<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><table class=\"table table-striped\"><tbody><tr><td>Employer Identity Card<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Voter ID Card<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Piped Gas bill<\/p><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>If the applicant is employed in the Merchant Navy, the applicant is required to submit a copy of Continuous Discharge Certificate (CDC)<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Valid Passport<\/p><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>PIO Card issued by the Government of India in case the applicant\/co-applicant is a Person of Indian Origin (PIO).<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Driving License<\/p><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Driving License<\/p><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>The completed loan application form duly filled with three passport size photographs of the applicant and co-applicants.<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Aadhar Card<\/p><\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>The attestation of the documents can be done by: 1. Indian Embassy\/Consulate 2. Overseas Notary Public 3. FOs\/Representative Offices 4. Officials of Branch\/Sourcing Units based in India<\/p><\/div><\/div><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-61768b84 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"61768b84\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4ff4b3a2\" data-id=\"4ff4b3a2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-390787da elementor-widget elementor-widget-heading\" data-id=\"390787da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Income Proof Documents<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f86836b elementor-widget elementor-widget-text-editor\" data-id=\"f86836b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table id=\"eael-data-table-e1ec28a\" class=\"tablesorter eael-data-table center\"><thead><tr class=\"table-header\"><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">For Self-employed Applicant\/Co-applicant:<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">For Salaried Applicant\/Co-applicant:<\/span><\/th><\/tr><\/thead><tbody><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Proof of income if the applicant\/co-applicant is a self-employed professional\/businessman.<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Valid work permit<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Business address proof<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Employment contract (translated in English) attested by the employer\/consulate\/embassy\/Indian foreign office if the contract is in another language.<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Balance Sheet and Profit and Loss accounts audited by a certified CA for the last 2 years<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Salary slips for the last 3 months<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Individual Tax Return for the last 2 years \u2013 Not applicable to NRIs\/PIOs located in the Middle East countries.<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Bank statements indicating salary credit for the last 6 months<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Bank statement of the individual\u2019s as well as the business\/company\u2019s overseas account for the last 6 months.<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Copy of the Identity Card issued by the current employer along with the latest salary slip (original).<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">\u00a0<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Copy of the individual Tax Return for the last assessment year. &#8211; Not applicable to employees in the Merchant Navy and NRIs\/PIOs located in the Middle East countries.<\/div><\/div><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4c3db956 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c3db956\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-41b2dcfc\" data-id=\"41b2dcfc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3c2c931e elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"3c2c931e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Property Papers:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c06efc3 elementor-widget elementor-widget-text-editor\" data-id=\"2c06efc3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ol><li>Agreement of Sale (any one):<ul><li>Registered Agreement of Sale<\/li><li>Stamped Agreement of Sale<\/li><li>Allotment Letter<\/li><\/ul><\/li><li>Occupancy Certificate in case the property is a ready-to-move-in property<\/li><li>Copy (blueprint) of the Approved Plan and Registered Development agreement of the builder<\/li><li>Conveyance Deed in case of a new property<\/li><li>Bank account statements indicating all payments made to the seller or builder<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6184566b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6184566b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-37d13a5b\" data-id=\"37d13a5b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-558a04ca elementor-widget elementor-widget-heading\" data-id=\"558a04ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Home Loan Fees and Charges<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-191a082 elementor-widget elementor-widget-text-editor\" data-id=\"191a082\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Depending on the type of loan you are applying for, the following charges may be levied:<\/p><ul><li><strong>Processing fees:\u00a0<\/strong>This is a one-time non-refundable fee that is to be paid to the home loan provider after the loan application has been approved. The processing charge varies depending on the bank and the loan scheme you are applying for.<\/li><li><strong>Prepayment charges:\u00a0<\/strong>Prepayment penalty is the fee you will have to pay the lender if you plan on repaying your home loan before the completion of the loan tenure.<\/li><li><strong>Conversion fees:\u00a0<\/strong>Some banks also charge a conversion fee when you decide to switch to a different loan scheme in order to lower the interest rate associated with your current scheme.<\/li><li><strong>Cheque dishonour charges:\u00a0<\/strong>The fee is levied when the loan provider find that a cheque issued by the borrower is found to be dishonoured due to reasons such as insufficient funds in the borrower\u2019s account.<\/li><li><strong>Fees on account of external opinion:\u00a0<\/strong>In some cases, you might want to consult an external expert such as a lawyer or a valuator for his\/her opinion on the loan. This fee should be paid directly to the concerned person and not the lending institution.<\/li><li><strong>Home insurance:\u00a0<\/strong>The premium should be paid directly to the concerned company during the term to ensure that the insurance policy is running during the home loan tenure.<\/li><li><strong>Default charges:\u00a0<\/strong>Loan providers also charge a penalty on delayed repayments i.e. if you fail to make your Equated Monthly Instalments (EMIs) or Pre-EMIs on time. The defaulting charges vary from one bank to another.<\/li><li><strong>Incidental charges:\u00a0<\/strong>This charge covers for the expenses incurred by the bank to recover dues from a borrower who has failed to make his monthly instalments on time.<\/li><li><strong>Statutory\/regulatory charges:\u00a0<\/strong>The fee includes all charges associated with Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), Memorandum of Entry and Deposit, and stamp duty. You can visit\u00a0<a href=\"http:\/\/www.cersai.org.in\/\" rel=\"nofollow\">www.cersai.org.in<\/a>\u00a0to know more about these charges.<\/li><li><strong>Photocopy of documents:\u00a0<\/strong>The fee is payable to the bank if you require a photocopy of your home loan documents for any personal needs.<\/li><li><strong>Change in loan term:\u00a0<\/strong>Some banks also charge a nominal fee if you wish to change the tenure associated with your loan.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1d030b7a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1d030b7a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3cb2cb94\" data-id=\"3cb2cb94\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e4641a4 elementor-widget elementor-widget-heading\" data-id=\"7e4641a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h1 class=\"lt-pad-10\" style=\"margin-bottom: 10px;padding-left: 10px;line-height: normal;font-size: 27px;color: #000000;font-family: Lato, Helvetica, Arial, sans-serif;font-style: normal;white-space: normal\">Track Your Home Loan Application Status<\/h1><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ce14d30 elementor-widget elementor-widget-text-editor\" data-id=\"3ce14d30\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>TopBankloan helps you track your loan application easily. Simply visit\u00a0<a href=\"https:\/\/www.bankbazaar.com\/home-loan\/verifyOwnershipForm.html\" target=\"_blank\" rel=\"noopener\">application status<\/a>, enter your Application ID and your mobile number, and get the status.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3e12dda3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e12dda3\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c05edb0\" data-id=\"2c05edb0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1e8d574d elementor-widget elementor-widget-heading\" data-id=\"1e8d574d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Types of Home Loans in India<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-350de394 elementor-widget elementor-widget-text-editor\" data-id=\"350de394\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Banks in India provide different types of housing finance options for different purposes. Here\u2019s a list of the prominent types of housing loans in India, based on a study of products offered by some of the top banks:<\/p><ol><li><strong>New Home Loans:\u00a0<\/strong>New Home Loans are offered to eligible customers who are looking to purchase a house or property for the first time.<\/li><li><strong>Pre-approved Home Loan:<\/strong>\u00a0Pre-approved home loans are offered by banks to eligible borrowers once his\/her creditworthiness, income and financial position are taken into considerable for an in-principal approval of the loan.<\/li><li><strong>Home Purchase Loans:<\/strong>\u00a0Home purchase loans are specifically given to borrowers looking to purchase a house or flat.<\/li><li><strong>Home Loan for Construction:<\/strong>\u00a0Home loan for construction is offered to customers who are looking to construct their own house on an existing piece of land.<\/li><li><strong>Plot Loans:\u00a0<\/strong>Plot loans are loans offered to customers looking to purchase a piece of land or plot for the purpose of constructing a house on it.<\/li><li><strong>Home Loan Top Up:\u00a0<\/strong>Home Loan Top Up is a facility offered by most banks and NBFCs that allows existing customers to borrow a certain amount above and over the existing home loan.<\/li><li><strong>Home Extension\/Renovation Loans:<\/strong>\u00a0Home loans for extension or renovation of home are offered to borrowers who wish to renovate\/extend their existing house\/property.<\/li><li><strong>Balance Transfer Home Loan:<\/strong>\u00a0Individuals can use the balance transfer option to transfer their home loan from one bank to another. Most people choose this option to avail better interest rates.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1cf6df0a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1cf6df0a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4bd34ea\" data-id=\"4bd34ea\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7fd8cd3f elementor-widget elementor-widget-heading\" data-id=\"7fd8cd3f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Home Loan Rejection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e1203e0 elementor-widget elementor-widget-text-editor\" data-id=\"e1203e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<table id=\"eael-data-table-ffe7f42\" class=\"tablesorter eael-data-table center\"><thead><tr class=\"table-header\"><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Do&#8217;s<\/span><\/th><th id=\"\" class=\"\" colspan=\"\"><span class=\"data-table-header-text\">Don&#8217;t<\/span><\/th><\/tr><\/thead><tbody><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Ensure that you have researched on the loan you want to apply for<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Do not blindly sign the documents before you read every term and condition on it<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Read the fine print before taking the loan<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><table class=\"table table-bordered table-striped\"><tbody><tr><td>Do not forget to compare interest rates offered by different loan providers<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Look out for any charges applicable on prepayments and foreclosure<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Do not default on your monthly payments<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Make sure you pay the equated monthly instalments (EMIs) on time<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Do not apply for a loan just for the sake of it<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Ensure that you have a good credit score before you apply<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\"><p>Do not sign the home loan agreement before reading the clauses<\/p><\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Apply for a loan amount you are eligible for<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Do not request for a change in tenure unless you have considered all the aspects<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Submit all the necessary documents<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Do not submit an incomplete or mismatched loan application<\/div><\/div><\/td><\/tr><tr><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Do not have too many ongoing loans<\/div><\/div><\/td><td id=\"\" class=\"\" colspan=\"\" rowspan=\"\"><div class=\"td-content-wrapper\"><div class=\"td-content\">Do not request for a change in tenure unless you have considered all the aspects<\/div><\/div><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-473e7a22 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"473e7a22\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-43ed9391\" data-id=\"43ed9391\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d4c1dd6 elementor-widget elementor-widget-heading\" data-id=\"6d4c1dd6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What to do if your home loan application is rejected?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-514a1e93 elementor-widget elementor-widget-text-editor\" data-id=\"514a1e93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>You can always re-apply for a home loan if your first loan application was rejected by the lender. However, there are a few aspects you must consider before doing so.<\/p><p><strong>Credit score:\u00a0<\/strong>Since housing loans are generally long-term retail loans, lenders look into the applicant\u2019s repayment capacity before approving or rejecting a loan application. Your credit score plays a major role in deciding your repayment capacity against a loan.<\/p><p>If you have a poor credit score on your credit report, chances of your loan application being rejected are high. The unsatisfactory credit score gauges your creditworthiness which banks and financial institutions consider before processing your loan application. Hence, it is advised to go through your credit score and credit report before you apply for a loan.<\/p><p>In case you have a poor credit score, consider improving your score by making your debt repayments on time before you reapply for a housing loan again. If you do not know what your current score is, you can get your credit score along with the credit report on BankBazaar.<\/p><p><strong>Loan Amount:\u00a0<\/strong>Since purchasing\/constructing a home is a one-time investment, we often tend to overlook the financial costs involved in it. Banks and financial institutions fix the maximum loan amount you are eligible for by taking your present monthly income. There is a high chance your application was rejected because of the loan amount you have applied for.<\/p><p>If the loan amount applied for exceeds your eligible loan amount, the lender can decide to reject your application. In such cases, you can consider increasing the down payment on your home loan to bring down the loan amount.<\/p><p><strong>Other Ongoing Loans:\u00a0<\/strong>Banks can also choose to reject your home loan application if you have too many other ongoing loans. Since home loan lenders see to it that not more than 50% of your monthly income is being contributed to your loan repayments, any other ongoing long-term loans can result in your application being rejected.<\/p><p>Having too many ongoing loans will not only impact your personal finances but also your repayment capacity. Hence, it is advised to clear the ongoing loans, if any, before you apply for a housing loan.<\/p><p><strong>Co-applicant:\u00a0<\/strong>There can be instances where applications are rejected due to low income. In such cases, you can consider adding a co-applicant such as a member of your immediate family. This will increase the maximum amount you are eligible for as the income and creditworthiness of the co-applicant will also be taken into account while deciding your eligibility.<\/p><p><strong>Employment:\u00a0<\/strong>In some cases, the employment of the applicant can act as the deciding factor on whether the loan application is being approved or rejected by the lender. Your application can be rejected if the lender learns that you have been switching between jobs frequently.<\/p><p>Unstable employment can sometimes prove to have a negative impact on your loan application. On the other hand, stable employment with a recognised institution on your application can have a positive impact.<\/p><p>In case your housing loan application was rejected, and you have only been working with the current employer for a short period of time. You can consider giving it some more time before re-applying for another one.<\/p><p><strong>Documentation:\u00a0<\/strong>Housing loans include a lot of documentation such as identity proof, residential proof, bank account statements, income tax returns, income proofs, property papers, documents approved by concerned authorities, etc. Your loan lender can reject your loan application even if one of the required documents are not submitted.<\/p><p>You can always consult the banks\u2019 customer relationship executives to assist you with proper loan documentation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-292e893f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"292e893f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d02c338\" data-id=\"d02c338\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-59a5630e elementor-widget elementor-widget-heading\" data-id=\"59a5630e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">FAQs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d8fc0fe elementor-widget elementor-widget-text-editor\" data-id=\"6d8fc0fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"container\"><ol><li><strong>Which factors determine my home loan eligibility?<\/strong><p>Banks\/financial institutions consider the following factors when determining your loan eligibility:<\/p><ul><li>Age<\/li><li>Annual Income<\/li><li>Occupational stability<\/li><li>Resident type [Indian Citizen, Non-Resident Indian (NRI), Person of Indian Origin (PIO)]<\/li><li>Number of co-applicants<\/li><li>Co-applicants&#8217; income<\/li><li>Credit score<\/li><li>Other ongoing loans, if any<\/li><\/ul><\/li><li><strong>What is the difference between a fixed rate and floating rate home loan?<\/strong><p>The rate of interest associated with fixed rate loans remain unchanged during the entire tenure of the loan. On the other hand, the interest rates applicable on floating rate loans can be revised from time to time depending on the RBI key policy rates. The equated monthly instalments can increase or decrease depending on the prevailing RBI rates in the case floating rate type loans.<\/p><\/li><li><strong>Can I prepay my outstanding home loan amount?<\/strong><p>Yes, you can choose to prepay your outstanding loan amount either partially or in full before the completion of your loan tenure. While banks do not charge any prepayment fee on floating rate loans, fixed rate home loans attract a penalty up to 2% of the loan amount if prepaid through refinance.<\/p><\/li><li><strong>Can I avail tax deductions on my home loan?<\/strong><p>Yes, you can avail tax benefits on both the interest and principal component paid against your home loan. As per Section 80C of the Income Tax Act, you can avail deductions up to Rs.1.50 lakh on the principal amount repaid annually.<\/p><p>Under Section 24 of the IT Act, taxpayers are also eligible for benefits up to Rs.2 lakh on the interest repaid against a home loan annually.<\/p><\/li><li><strong>Who can be a co-applicant?<\/strong><p>The co-applicant can be an immediate family member such as your spouse, your parents or even your major children. It is also mandatory for all co-owners of the property to be co-applicants while applying for a loan. However, the co-applicant need not be a co-owner.<\/p><\/li><li><strong>What is Pre-EMI?<\/strong><p>Pre-EMI is defined as the interest that is to be paid to the loan provider until the entire loan amount is disbursed. The Pre-EMI is payable on a monthly basis until the last disbursement, post which the regular EMI will be applicable comprising the principal and interest components.<\/p><\/li><li><strong>What are the types of home loans available?<\/strong><ul><li><strong>Home Purchase Loan:<\/strong>\u00a0Suitable for those looking to purchase a new house\/flat or an under-construction property.<\/li><li><strong>Home Construction Loan:\u00a0<\/strong>Can be availed by those looking to construct a house\/property according to his\/her plan.<\/li><li><strong>Home Conversion Loan:<\/strong>\u00a0Suitable for those looking to purchase and move to another property when they have already bought a house with a home loan.<\/li><li><strong>Plot Loan:<\/strong>\u00a0Can be availed by eligible borrowers looking to purchase a residential plot for the purpose of construction of a house\/dwelling unit.<\/li><li><strong>Home Improvement Loan:\u00a0<\/strong>These loans are sanctioned to those looking to repair\/improve\/renovate an already existing property.<\/li><li><strong>Home Extension Loan:\u00a0<\/strong>Suitable for those looking to extend\/expand\/alter the structure of an existing property.<\/li><li><strong>Home Loan Balance Transfer:<\/strong>\u00a0Can be availed by those who wish to transfer their outstanding home loan balance from their existing lender to another lender due to reasons such as reduced interest rates or better customer service.<\/li><li><strong>Home Loans for NRIs:\u00a0<\/strong>These home loans cater to the housing needs of NRIs in the country. They also include PIOs and OCIs.<\/li><\/ul><\/li><li><strong>What is MCLR?<\/strong><p>Marginal Cost of funds based Lending Rate is the benchmark rate set by a lending institution below which they cannot provide loans to their customers.<\/p><\/li><li><strong>Can I switch from a fixed rate to a floating rate during my home loan tenure?<\/strong><p>Yes, you can switch from a fixed to floating rate of interest on your home loan during the repayment tenure. However, you will be charged a conversion fee by the lender in such cases.<\/p><\/li><li><strong>When does my loan repayment period begin?<\/strong><p>The loan repayment period begins only after the loan provider has disbursed the entire home loan amount. However, you will be required to pay the interest i.e. pre-EMI on the partially disbursed loan on a monthly basis, in most cases.<\/p><\/li><li><strong>Can I take 2 home loans at the same time?<\/strong><p>Yes, you can take 2 home loans at the same time provided that your lender approves your eligibility to manage 2 Equated Monthly Instalments (EMIs) at the same time. However, the tax benefits on the second house will be different and you will be required to establish the property as self-occupied or let-out property.<\/p><\/li><li><strong>Can I get 100% financing on a home loan?<\/strong><p>No. Banks\/financial institution do not grant 100% of the property value as home loan. Home loan lenders establish a margin on their loan i.e. the percentage of the cost that the lending institution will be covering. For example, if the margin on the loan is set at 10%, the bank will cover 90% of property value. In such cases, you will be required to a make a down payment of the balance amount, i.e. 10% in order to cover for the rest of the cost.<\/p><\/li><li><strong>Does having a personal loan affect home loan eligibility?<\/strong><p>When determining your home loan eligibility, the lender makes sure that your monthly repayments are not being affected by any other ongoing loans such as personal loan, two-wheeler loan, etc. However, other ongoing loans ultimately tend to affect your eligibility as your overall spending power is reduced. If your other loan commitments exceed 50%-60% of your monthly income, your home loan application may be rejected.<\/p><\/li><li><strong>Is personal loan better than home loan?<\/strong><p>If you are buying a house, home loan is the best option. Usually you will not be eligible for a personal loan for as high an amount required for the purchase of a house. If you want extra money for non-specific personal needs, then go for a personal loan. Home loans also have an added advantage of top-up loans wherein you can request a top up on your loan amount to cover additional needs such as furnishing your house.<\/p><\/li><li><strong>Can I buy a house with two loans?<\/strong><p>No, you cannot avail two home loans for the same property. Any such practice will be considered fraudulent. The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) ensures that fraudulent practices such as availing two housing loans for the same asset\/property are prevented.<\/p><\/li><li><strong>How do joint home loans work?<\/strong><p>A joint home loan can be availed by adding a co-applicant such as your spouse, parents, or an immediate family member on your application. Adding a co-applicant will increase your home loan eligibility as the lending institution will also be considering the co-applicant&#8217;s income and credit score when determining your loan eligibility. All co-owners of the property are required to be the co-applicant for a loan. However, the co-applicants need not necessarily be the co-owner of the concerned property.<\/p><\/li><\/ol><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Compare &amp; Apply Home Loan Online Avail home loans up to Rs.10 crore with interest rates starting at 7.25% p.a. 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