HOME LOAN

Features and Benefits of Our Home Loan

We help turn your dream home into a reality with tailor-made home loan
solutions. With competitive interest rates and flexible EMI options, we ensure
your journey to homeownership is smooth and stress-free.

Types of Home Loans We Offer

Home Construction Loan
If you already own a plot of land but need funds to build your dream home, this loan is designed for you. It covers:
Construction of a new house on your plot
Major structural repairs or reconstruction
Benefit: Enables you to build a house at your pace, with funding released as per the construction stages.

Home Extension Loan
When your family grows or your needs evolve, expanding your current home
becomes necessary. This loan helps you:
 Add a new room or floor
 Build an annexe or extend living spaces
Benefit: Get financial support to expand your home without compromising
existing savings.
Home Improvement Loan
Upgrading your home enhances comfort and increases its value. This loan can
be used for:
Renovating interiors
Replacing old furniture or fittings
Fixing lighting, plumbing, or other fixtures
Benefit: Maintain and enhance your home’s aesthetics and utility without financial strain.

NRI Home Loan
Designed exclusively for Non-Resident Indians who wish to buy property in India.
While documentation may vary slightly, we assist you every step of the way.
Benefit: Own a home in India from anywhere in the world, with customized loan
Aerings and expert support.
Home Loan Eligibility Criteria
To avail a home loan, applicants must meet the following eligibility requirements:
Age Criteria
Minimum Age at Loan Application: 21 years
Maximum Age at Loan Maturity: 65 years (or less, based on profession)
Eligible Age Range
Profession
Salaried
Self-Employed
Income Criteria
21 years to 58 years
25 years to 65 years
Salaried Individuals: Minimum ₹10,000 per month
Self-Employed Individuals: Minimum ₹2,00,000 per annum
Employment/Business Stability
Salaried Applicants:
Must have a minimum 2 to 3 years of continuous work experience in a reputed
MNC, Private Limited, or Public Sector company.
Self-Employed Applicants:
Must have at least 3 years of consistent experience in the current line of
business/profession.
Credit Score Requirement
 A minimum credit score of 750 is generally considered ideal for smooth home
loan approval.
 Higher scores may result in better interest rates and terms.
Tip for Applicants:
Maintaining a good repayment history, stable employment/income, and clear documentation can significantly enhance your loan approval chances.
Documentation Required for Home Loan Application
Proper documentation ensures smooth and quick home loan processing.
Below is the list of income and property-related documents required for Salaried, Self
Employed, and Non-Resident Indian (NRI) applicants.

1. Income Proof Documents
   
   A. For Salaried Individuals
   Form 16 (latest)
   Employee Identity Card
   Last 3 months’ Salary Slips
   Last 6 months’ Bank Account Statement (salary account)
   Employment Continuity Proof (e.g., Employment Letter or Experience Certificate)
   
   B. For Self-Employed Individuals
   PAN Card
   Trade License / Shop Act License
   Partnership Deed (if applicable)
   Memorandum of Association (MOA) & Articles of Association (AOA)
   Import Export Code (if applicable)
   SEBI Registration Certificate (for financial services professionals)
   ROC Registration Certificate
   Audited Financial Statements (last 2–3 years)
   o Profit & Loss Account
   o Balance Sheet
   Bank Account Statements for last 6 months (business account)
   Professional Practice License (Doctors, Architects, Consultants, etc.)
   Registration Certificate of Establishment (for shops, factories, etc.)
   Business Address Proof
   
   C. For Non-Resident Indian (NRI) Applicants
    Valid Passport and Visa Copy
    Employment/Income Proof (salary slips, contract, work permit, etc.)
    Overseas Bank Account Statements
    NRE/NRO Bank Account Statements (India)
    Power of Attorney (POA) in favor of a local representative (if required)
2. Property-Related Documents
   (Applicable to all categories: Salaried, Self-Employed, and NRI)
    Sale Deed
    Stamped Agreement of Sale
    Allotment Letter from Builder or Housing Society
    No Objection Certificates (NOC) from:
   o Housing Society
   o Builder/Developer
    Possession Certificate (if applicable)
    Land/Property Tax Receipt
    Estimate of Construction Cost (for home construction loan)
    Payment Receipts made to Seller/Builder
    Bank Statement showing payments made to Seller/Builder
    Share Certificate (in case of resale property)
    Occupancy Certificate (mandatory for ready-to-move-in properties)
   Note:
    All documents should be self-attested and submitted in both original (for
   verification) and photocopy format.
    Additional documents may be required based on loan provider or property type.
   Home Loan Fees and Charges
   Home loan fees may vary depending on the lender, loan amount, and borrower profile.
   Below is a general overview of common fees and charges associated with home loans:
   Particulars
   Loan Processing Fees
   Charges
   0.25% to 2% of the sanctioned loan amount
   Loan Cancellation Charges Nil to 5% (varies by bank or NBFC policies)
   Stamp Duty Charges
   Legal Fees
   Penal Charges (for Delays)
   As per state government regulations and property value
   As per actuals (varies based on property and location)
   Usually 2% per month on the overdue amount
   EMI/Cheque Bounce Charges Approx ₹500 per instance
   Additional Charges That May Apply
    Documentation Charges
    Verification Charges
    Statement Re-issue Charges (Duplicate)
    NOC (No Objection Certificate) Charges
    Swap Charges (for changing repayment mode, like cheque to ECS)
   Important Tips
    Always check with your lender for a detailed breakup of applicable charges.
    Some charges may be negotiable or waived based on your credit score and
   relationship with the bank.