You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank. Quick Form for Personal Loan in Delhi NCR.
Your bank will assess your repayment capacity while deciding the home loan eligibility. Repayment capacity is based on your monthly disposable / surplus income and other factors like spouse’s income, assets, liabilities, stability of income etc. The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan.
You repay the loan in Equated Monthly Installments (EMIs) comprising both principal and interest. Repayment by way of EMI starts from the month following the month in which you take full disbursement.
In addition to all legal documents relating to the house being bought, banks will also ask you to submit Identity and Residence Proof, latest salary slip and Form 16 and last 6 months bank statements/Balance Sheet, as applicable . You also need to submit the completed application form along with your photograph. Loan applications form would give a checklist of documents to be attached with the application.Do not be in a hurry to seal the deal quickly. Quick Form for Personal Loan in Delhi NCR
Banks generally offer either of the following loan options: Floating Rate Home Loans and Fixed Rate Home Loans. For a Fixed Rate Loan, the rate of interest is fixed either for the entire tenure of the loan or a certain part of the tenure of the loan.In case of a pure fixed loan, the EMI due to the bank remains constant. If a bank offers a Loan which is fixed only for a certain period of the tenure of the loan, please try to elicit information from the bank whether the rates may be raised after the period (reset clause). You may try to negotiate a lock-in that should include the rate that you have agreed upon initially and the period the lock-in lasts.
LaonMoney is an Authorized Direct Selling Agents of various National, Multinational and Non Banking Financial Companies for promoting their sales for asset division. Quick Form for Personal Loan in Delhi NCR
Home Loan from Nationalised Bank: Canara Bank, Allahabad Bank, Andhra Bank, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank,IDBI Bank, Jammu and Kashmir Bank, Karnataka Bank, Punjab and Sindh Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank, State Bank of India, Punjab National Bank and Bank of Baroda.
Home Loan from Private Bank: Bandhan Bank, Corporation Bank, DCB Bank, Federal Bank, IDFC Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, South Indian Bank, HDFC Bank, ICICI Bank , Yes Bank, Axis Bank, Kotak Mahindra Bank, Standard Chartered Bank, HSBC Bank, Deutsche Bank, Induslnd Bank and RBL Bank.
Home Loan from Non Banking Financial Company (NBFC): DHFL Home, Indiabulls, Tata Capital, Bajaj Finserv, Capital First, Fullerton India, Aditya Birla Finance, LIC Housing Finance, Magma Fincorp, Reliance Capital and Tata Capital.
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Home Loan is a Secured loan offered against the security of a house/property which is funded by the bank’s and NBFCs the property could be a personal property or a commercial one. Read More...
Apply for Home Loan and get instant approval. Learn more about where to apply Home Loan. Get the most competitive interest rates for Home Loans and the most comprehensive financial planning advice in Delhi NCR. Read More...
Home Loan Interest Rates is one of the first parameters that one considers along with other value adds like pre-closure options, part payments etc. Interest rates are the rate at which the bank is willing to lend money to you which in turn is their source of income. Read More...
Home Loan eligibility is calculated after considering various factors including monthly income, fixed monthly obligation, current age, retirement age etc. Your home loan eligibility can also be considered an indicator of your home loan affordability. Read More...
Check out the list of documents required for Home Loans in Delhi NCR through LoanMoney, and apply for your own Home Loan easily. Read More...
If you are a first time home buyer looking for Home Loan, here is the step by step guide to the process of obtaining a home loan. Start Home Loan Process follow these simple steps. Read More...
You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Read More...
Have a Question regarding Home Loans? Check out Frequently Asked Questions about Home Loans. Find the answers to all your Home Loan queries and Get your clarification right here. Read More...
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