HOUSING LOAN
Housing Loan
Make your dream home a reality with our affordable housing loans. With attractive interest rates, easy eligibility criteria, and long tenure options, we help you find the best loan solution for your home purchase or construction.
LOAN TYPE
Home Purchase Loan
Home Renovation/Improvement Loan
Home Construction Loan
For buying a new or resale property; up to 80%-90% financing, tenure up to 30 years.
Home Construction Loan
Home Renovation/Improvement Loan
Home Construction Loan
For building a house on owned land; funds disbursed in phases based on progress.
Home Renovation/Improvement Loan
Home Renovation/Improvement Loan
Home Renovation/Improvement Loan
For repairs or improvements to existing property; smaller amounts with shorter tenures.
Home Extension Loan
Home Extension Loan
Home Renovation/Improvement Loan
For adding rooms or expanding an existing house; longer tenure, similar to purchase loans.
Land Purchase Loan
Home Extension Loan
Land Purchase Loan
For buying a residential plot; up to 70%-80% of land value, shorter tenure (up to 15 years).
HOUSING LOAN DETAILS
Eligibility Criteria
- Age: Generally, 21 to 65 years.
- Income: Stable income (salaried or self-employed).
- Credit Score: A good credit score (typically 650 or above).
- Employment Stability: Minimum work experience (varies by lender).
- Existing Liabilities: Assessment of other loans or EMIs.
Interest Rates
- Fixed Rate: The interest rate remains constant throughout the loan tenure.
- Floating Rate: The interest rate varies based on market conditions (e.g., linked to the repo rate or MCLR).
- Hybrid Rate: Combination of fixed and floating rates..
Documents Required
- Identity Proof: Aadhaar, Passport, Voter ID, etc.
- Address Proof: Utility bills, Aadhaar, etc.
- Income Proof:
- Salaried: Salary slips, bank statements, and Form 16.
- Self-employed: IT returns, financial statements, and bank statements.
- Property Documents: Sale deed, title deed, or agreement of sale.
- Other Documents: Passport-sized photographs, credit report, etc.
Tax Benefits
- Deduction under Section 80C: Up to ₹1.5 lakh for principal repayment.
- Deduction under Section 24(b): Up to ₹2 lakh for interest paid (for a self-occupied property)
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