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HOME LOAN

Home Loan

Home Loan Eligibility In Chennai

Avail Home Loan through quick and easy process

Get attractive interest rate 8.50 %* on Home Loan

Know your Loan Eligibility with simple steps

Buy Ready to Occupy Home

Buy under Construction Home

Buy a plot of Land

Transfer Existing Home Loan

Repair and Renovate own House

Home Loan Interest rates are normally varied from 9.5% to 15% and They Depend on Your Financial Eligibility and Past Loans Repayment History.

Home Loan Can Be Repaid in Easy Instalments Ranging From 5 to 25 Years.

You Can Also Transfer Your Existing High Interest Home Loan For Lesser Rates.


What is the interest saving in EMI by transfer of home loan to another bank

The exact reduction in EMI varies based upon

Existing rate of interest being charged by your bank

Outstanding principal amount

Your current EMI

Rate of interest currently available from new bank

Basic Eligibility Criteria for Home Loan in Chennai Salaried Professionals:

Net Monthly Salary should be more than Rs 20,000

Salary should be received through an Account Transfer . No cash salary.

Should be working in Pvt Ltd or Ltd Company (Not in partnership or proprietorship company)

Aged between 21-60 years

Types of Home Loan

Home Purchase Loan
Home Improvement Loan
Home Extension Loan
Home Conversion Loan
Home Construction Loan
Land Purchase Loan
Home Loan Fixed Interest
Home Loan Floating Interest

Home Loan Basic Documents Required

Passport Size Photographs

Identity proof: (passport, voters ID, driving license or pan card).

Address proof: (voters ID, driving license or passport).

Latest 6 months’ Bank statements

Latest 6 months’ salary slips and Last 2 years Form 16

Appointment Letter and Proof of Work Experience

Property Documents

Sale deed, Katha, transfer of ownership The list of documents may vary from applicant to applicant.

Factors Deciding Home Loan Eligibility Lenders look for many criteria before sanctioning any loan for its customers. Few never missed factors are here.

Employment Stability

This is a very crucial aspect for personal loan consideration. Unless you are salaried and employed for more than 2 years in the current profession or if self-employed minimum 5 years of total tenure of earnings.

Credit Rating

Having good credit rating increases the probability of getting loan with more flexible option on tenure, amount, EMI and interest rates

Financial Situation

It’s not always about the present, the past financial records will also have a great call on deciding whether you are eligible for a personal loan or not.

Age Criteria

Age should be between 23 to 55 years

Employment Stability

This is a very crucial aspect for personal loan consideration. Unless you are salaried and employed for more than 2 years in the current profession or if self-employed minimum 5 years of total tenure of earnings.

Employer

The employer with whom the applicant is working with is the best way to gauge the credibility of the applicant

Financial Situation

It’s not always about the present, the past financial records will also have a great call on deciding whether you are eligible for a personal loan or not.

Here are some Basic Eligibility Criteria for Home Loan in Chennai Self-Employed Professionals

Turnover more than 50 lakhs

Profits more than 5 lakhs

Age should be between 23 to 55 years

Should have a PAN Card

ITR for Latest 3 years and Business/Company should be in existence for at least 3 years(Govt Proff: SSi, Tin, Or Vat Registration Proof

Home Loan Application Form is the first basic step to start the processing of home loan, post validation of all details in the application form the bank with process

the loan and will let you know the next steps to make your Dream come True.

The Home Loan is a loan taken by a borrower from the bank issued against the property or security intended to be bought on the part by the borrower giving the

banker a conditional ownership over the property i.e. If the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property.

Home Loan Interest Rate – Min 10.5% to 12.75%