A home loan is a Secured loan that is obtained to purchase a property by offering it as collateral. You can take a loan that will help you to buy your dream home. All you have to do is to save enough money to make the down payment of your home that is 20% of the home value.
The remaining 80% of the home can be taken as a loan from a bank depending upon how much loan you are eligible for.
This home loan can be repaid to the bank every month as equated monthly installments or more popularly known as EMI over the entire tenure of the loa.
Once the customer gets a loan then we update the current status of the loan to the customer through SMS and e-mail. Customer can also able to call and request any necessary services and also clarify doubts whenever.
Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.
It is Most popular loan people take for fulfilling their dream of purchasing a home. If you meet the eligibility criteria for the loan, the lender can approve up to 80%-90% of the cost of the property as a Home Loan.
A home construction loan is a loan for those people who want to construct a house according to their wishes rather than buying a pre-constructed house.The loan amount is decided based on a rough estimate of the construction cost.
This option can be availed when an individual wants to transfer his home loan from one bank to another bank owing to reasons like lower interest rates or better services offered by the other bank.
Renovation and repair works like external and internal, painting, Modular rooms and electrical renovation certainly will make your house look better. But if you lack the finances for renovation, banks will provide home renovation loans.
Home loans gives you the best advantage to fulfill your Dream home to buy or construct.
Any salaried, self-employed or professional Public and Private companies, Government sector employees all are eligible for a Home loan.
Minimum age 21 and Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 15,000, you can add Joint applicant also.
Applicant should have the bank specified credit score.
If You are going to take a home loan 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.
Fees are essentially costs to be borne by teh customer in addition to the interest on the loan. The fees may be one-time fees or periodic fees (such as quarterly fees) and may depend on the loan amount. Fee’s maybe under different names such as Processing Fees, Administrative Fees, documentation fee etc.
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