About Home Loan

To make your home loan journey a smooth sail, in this article we will help you to know eligibility criteria, rates of interest, process, necessary documents, comparison and transfer for lowest rates.

We offer a variety of home loan options to help you achieve your dream of homeownership.Whether you’re a first-time homebuyer, upgrading to a larger home, or refinancing your existing mortgage, we’re here to help

Home loans come with competitive interest rates, flexible terms, and easy online applications.online application process is quick and easy, and you can receive a decision within minutes. If approved, you can close on your loan as soon as 30 days.

Our experienced loan officers can help you determine which loan type is best for your situation.

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Home loans are typically used to finance the purchase of a home or refinance an existing mortgage

Purchase a home

The most common use of a home loan is purchase of a home. Whether you’re a first-time homebuyer or upgrading to a larger home, a home loan can help you purchase the home of your dreams.

Home improvements

Homeowners can use a home loan to finance home improvement projects, such as a kitchen renovation, bathroom remodel, or a new roof.

Home Extension loans

This type of loan can be used for individuals wants to extend or add more space to the home. For instance, adding a room as per growing family needs.

Balance Transfer

It can be availed by an individual who wants to transfer an existing home loan from a bank/NBFC to another provider/lender for getting a lower interest rate from the new lender and availability of top-up facility.

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Features of Home Loan

Home loans have several features that make them a popular financing option for homebuyers..

Maximum loan

80%-90% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer.

Interest Rates

It have either a fixed or adjustable interest rate. A fixed rate stays the same for the entire loan term, while an adjustable rate can change based on market conditions.

Loan Terms

The loan term is the length of time the borrower has to repay the loan. Most home loans have terms of 20to 30 years subject to retirement age.

Equated Monthly Installments

This home loan is repaid in equal monthly amounts, which are called Equated Monthly Installments or EMIs. The EMI consists of two portions – the principal amount, and the interest for the home loan.

Home Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a home loan.


Borrowers must be at least 21 years old and Maximum age is 58 or 60 subject to retirement age

Income and employment history

Lenders will review a borrower’s income and employment history to ensure that they have a steady source of income to repay the loan. Lenders typically prefer borrowers to have at least two years of employment history.

Credit score

Lenders will review a borrower’s credit score to determine their creditworthiness. Most lenders prefer a credit score of at least 620, but some may require a higher score.

Frequently Ask Questions

Check below questions to get more clarity about the loans.

The home loan amount depends on your repayment capability and is restricted to a maximum of 80% -90% of the cost of the property or the cost of construction as applicable.

The interest rate varies from one bank to the other bank. And usually it varies from 8.65%-13% depending upon your profile and the policies/scheme you opt for.

You are going to take a home you need to decide, the type of interest rate you want to pay to the bank. The banks will offer you with an option of a fixed rate or a floating rate. A fixed interest rate means that you will have to pay same EMI over a period of time. It may be fixed for entire tenure. Floating interest rates may change at any given point of time, which may result increase or decrease in either your EMI or your tenure.

  • The amount of loan you can avail depends on factors like salary details, qualifications, employer/business, years of experience, growth prospects, alternate employment prospects and sources of other income, if any. Generally, about 40% of your monthly gross income can be availed as your loan amount.
  • For self-employed applicants, profit is the benchmark that determines loan value. The longer the time frame for repaying the loan the lower the EMI and this also means you can opt for a larger loan amount. The loan amount you are eligible for is also dependent on other factors like the company you are employed with, the location of your residence and your credit history.

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Now apply for a Home Loan online, All you need to do is provide your details below application form.