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 home ownership 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

offerings 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)

Profession Eligible Age Range

Salaried 21 years to 58 years

Self-Employed 25 years to 65 years

Income Criteria

 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 Charges

Loan Processing Fees 0.25% to 2% of the sanctioned loan amount

Loan Cancellation Charges Nil to 5% (varies by bank or NBFC policies)

Stamp Duty Charges As per state government regulations and property value

Legal Fees As per actuals (varies based on property and location)

Penal Charges (for Delays) 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.