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If someone is an NRI and needs to take a home loan in India, he can approach the leading banks or NBFCs of the country. The Indian Constitution allows an NRI to own a residential or commercial property in the country with needed NRI home Loan documents . There are a lot of documents that the lender organization can ask for while granting the home loan to an NRI. They include: Detailed bank statement: The detailed bank statement is thoroughly checked by the lender initially because it is vital to understand the worthiness of an NRI borrower. The bank checks the credit score too. Passport: The passport of the borrower is thoroughly checked as it contains all the vital information. The lender bank crosschecks it with the data present in other ID cards provided by the borrower. Furthermore, an active passport actually denotes the transparency of the passport holder. Property-related papers: The banks always consider checking the property-related papers of the pre-existing properties.

The RBI looks after the monetary policy in India. To do that, RBI uses several financial tools like repo rate, bank rate, etc. Both MCLR and repo rates play a vital role in maintaining a smooth flow of fiscal policies in India. When the commercial banks borrow loans from the RBI, the interest rate that is imposed on the banks by RBI is called the repo rate. On the other hand, a bank can not lend money below the MCLR rate. Although, both MCLR and repo rate work with the same objective, still there are some major differences. Generally, the repo rate is regulated by RBI to increase or decrease the cash flow in the monetary system. However, MCLR is increased by the bank if the repo rate is increased. Changes in repo rate affect the area of the economy, but a change in MCLR only affects the people who want to take a loan. An increase of the Repo rate depends on the cashflow of the whole system while MCLR is increased by the bank depending on factors like operation funds, repayment tenur

Getting a land purchasing loan can be a bit difficult as there is no collateral involved, but it is not impossible. But there are few things that you need to take care of for a land loan. These are important because it makes your work easier and does not pose difficulties after you get the approval of the loan. Also, getting more knowledge about anything can never be harmful. You first need to go for a location which is suitable for you. Like it should have basic utility facilities, useable public access, and future development plans, etc. It saves your time and money on later expenses. The next would be to have a definite plan of what are you buying the land for. The building which requires only some improvements, getting a loan for them is less tricky. Down payments for them are also not very high in comparison to other types of land loans. Land purchasing loans for the speculative purpose may gain you profit soon, but at present, availing them can be a huge cost incurring. The next

RBI has recently reduced the repo rate to 5.15%. This reduction has shifted the RBI’s stance from calibrated tightening to neutral. Determination of Repo Rate RBI makes its monetary policies based on the Consumer Price Index and inflation. Repo rate is the rate at which banks borrow money from RBI against government securities. An increase in repo rate discourages banks from availing the loan, while decreases in repo rate encourage them to avail loan from RBI. Controlling inflation is the central aspect behind making any changes in the repo rate . The effect of repo rate cut falls on all entities, be it companies, individuals, or firms. Effect on Companies Lower repo rate means lower borrowing rates. This makes it cheaper for companies to avail loan from banks and expand their business. Effect on Individuals Individuals usually celebrate the reduction of repo rate, as the general thought process is, lower the repo rate lower will be the interest rate on loan. However, it is

Land loan is a good choice to finance your land purchase. However, the amount of loan will be decided by the bank before sanctioning the amount. The maximum loan-to-value ratio in the case of land loan is around 70%. Banks approve the land loan only after proper verification and scrutiny of all documents and the land you want to purchase.  Here is the list of documents required: 1. Original land ownership documents 2. Detailed sketch of plot location approved by the municipality. 3. Revenue receipts and land records, which has been paid by the previous owner. 4. Tax receipts 5. Original sale deed with index II. 6. Copy of property’s registration card on the name of the borrower 7. Search and Title reports of the land in detail in the last 30 days. ‘ 8. Order certificate’s copy, which is issued by the Urban Land Ceiling Act. 9. Building Permission copy issued by the Local Corporation 10. Cost of construction which is estimated by the certified architect. Other documents:

With the banking system getting digitalized, the popularity of home loan has increased. Along with buying a new house, it also helps in the renovation and extension of a portion of the house. While availing the home loan, you have the option to chose from two home loan interest rate :  1. Under the fixed home loan, the rate of interest does not change irrespective of market changes. 2. Under the floating home loan, the rate of interest fluctuates from time to time.  Both interest rate types are different in their form and nature. Following are the advantages of fixed home loan interest and floating home loan interest: a) under a fixed home loan rate, there is no fluctuations in the rate of interest along with immunity from the changes in the external market. It makes budgeting for the dues easier. b) the floating home loan rate is comparatively lower than fixed rates, so a rise in rate to a certain extent will not have any effect. Disadvantages of fixed and floating

Owning a house is a big milestone in anyone’s life, no matter its size. Most people buy their homes with the help of a home loan, which is a smart decision. However, continuing the home loan until the end of its tenure may not be that smart a decision. Depending upon the interest rate, the total amount you might end up paying in the form of interest throughout tenure can be close to half the portion of the principal amount or even more. That’s why it is better to start thinking of closing the home loan as soon as possible: 1. Choose High EMIs: At the time of availing the loan, your income was less than what it is now. With the increase in income, you can opt for higher EMI, which will reduce the overall tenure of the loan and help you repay it sooner. 2. Pre-payment Options: You can also pre-pay home loan when you get a lump sum amount or certain investment of yours. Most banks do not charge for a pre-paying home loan. 3. Balance Transfer: You can look for another lender who is pro

A home loan is availed to buy a residential property. The bank takes the property you buy as collateral. It is released only after the complete payment, which includes the home loan interest and principal amount. The maximum repayment tenure for a home loan can be up to 35 years. How is EMI calculated? In today’s time, you can easily calculate the home loan EMI through the home loan EMI calculators. All you need to do is fill the principal loan amount, tenure of the loan, and the rate of interest. The calculator will then give you the monthly EMI along with a detailed amortization of the table which contains the principal opening and closing balance, principal and interest component in each EMI. What is home loan interest rates? There are two types of interest rates that a bank fixes for the loans it advances. a) Fixed-rate: if you choose the fixed-rate, then your EMI

The Pradhan Mantri Awas Yojana has made the home buying much more convenient and affordable. The scheme aims to provide houses to about 20 million people, from urban and rural areas, latest by March 30, 2022. As per the policy, the low-income groups get housing loans at 6.5%, for a period of up to 20 years. The scheme covers people under three categories- EWS and LIG Group- People with an annual income of up to Rs 6 lakhs are covered in this group, The group avails a subsidized interest rate of 6.5%, on a loan amount of 6 lakhs. MIG-1 group- The group covers people with an annual income of up to Rs 12 lakhs. The subsidized interest offered is 4% on an amount of up to Rs 9 lakhs. MIG-2 group- People earning up to Rs 18 lakhs annually are covered in this group. The group enjoys a subsidy of 3% on the loan amount of up to Rs 12 lakhs. To avail the subsidies linked with the scheme, the applicants, however, need to fulfill certain eligibility criteria, as listed below: No member of

A joint home loan is a loan in which multiple individuals can apply for a higher loan amount. Taking a loan jointly also helps them to increase their loan eligibility and also share the financial burden of paying the EMIs equally. But you also might have noticed that there are certain myths associated with taking a  joint housing loan  which may bring confusion in the minds of the borrowers. Some of the common myths are. 1) The first myth that there is no role of the co-applicant when you think of closing your ongoing home loan. To close your home loan, you need a NOC from your co-applicant and if he is not willing to give that because of some personal issues between you and him. Your home loan will not be closed. 2) Second myth is that most of the banks and housing finance companies tell the borrowers that there is a significant role of the co-applicants signature on the loan contract. But this is not true at all. Their signature is also completely important, and they are als

A top-up home loan is an addition made on the existing home loan. It is provided at varying interest rates, and come along with several benefits, as listed below: A top-up home loan requires minimum paperwork since the documents are already submitted with the lender. A top-up loan can be used for a variety of purposes, including renovation, to fund education or marriage, or even to fulfill personal needs. A top-up home loan is much more affordable than a personal loan since the interest charged on a personal loan is way higher as compared to a top-up home loan. Further, as per section 24 and section 80C, a top-up home loan could provide you with tax benefits. It's better to opt for a top-up loan rather than a personal loan. Top-up loans are provided at a larger tenure than a personal loan. They can be availed for a maximum of 20 years. Read more:- Why should you opt for a top-up home loan? Thus, top-up home loans can be an affordable medium to fix financial instability.

Living in your dream home is no big deal in today’s time. Though there are a large number of platforms to guide regarding home loans, yet certain things to keep in mind are listed below: Joint home loans: A joint home loan implies bringing in family members for the loan application. Co-applicant can add to eligibility for the loan.  Documentation: The initial procedure for a home loan involves paperwork formalities. Necessary documents include PAN card, income and address proof, banking papers, and property papers. Income matters: The reason why joint home loans are readily accepted is because of the joint income of the applicants. The collective income of the applicants is any day preferable by the loan lenders. Shared Responsibility: The loan applicators are expected to be aware of their responsibility regarding the payment of the loan and EMI, on due time. Shared Benefits: Just like the responsibility, benefits related to the tax are equally shared. According to IT-Act, unde

The documentation process of Home loan for NBFC and banks are slightly different from one another, and so is their process. Documents required by Banks are: a) Signed Home loan application form b) As many passport size photographs required c) Identity Proof like; aadhar card, passport, PAN, Voter, Driving license, etc. d) Age proof like; Aadhar card, PAN, Birt Certificate, Bank passbook, etc. e) Residential Proof; LIC Policy Receipt, Passport, ration card, etc. f) Income documents; For salaried • payslip of last 3 months • Form 16 • Certified letter from Employer For self-employed professionals • Balance Sheet and P/L account • License for Practice • Proof of Business Address • Registration certificate of business g) Property Documents like; NOC from the builder estimated the cost of construction, Sale deed, building plan, etc. Documents required by NBFC are similar to the documents required by the bank with regards to the proof of identity, add

Are you planning to own a dream house of your own? If yes, then you need to ascertain the finances available with you carefully. Without having sufficient funds at your disposal, you can't even think of purchasing a house, either big or small. Nowadays, it has become very easy to evaluate your home loan affordability. You can do that by making use of an online home loan eligibility calculator to know whether you are eligible to get a loan or not.  Secondly, you can also use a home loan EMI calculator to calculate how much EMI you need to pay to your lender. These online tools are beneficial as they help you to know your loan eligibility before you apply for a loan. So, before you plan to buy a house using a home loan, you should keep these crucial points in your mind: 1) How much finance do you have at present? 2) Can you finance a home loan for you? 3) Will you be able to pay back your loan or not?  These set of questions will help you to evaluate your current financia

A home loan is not just about financing your purchase for a new ready to move in the house or for construction of a new house. There are various types of housing loans available , fulfilling specific housing finance needs. Check out their list below:  1. Home Loan: This is the popular and most common type of home loan. This loan is availed to buy a ready-to-move-in property or an under-construction property using funds availed through bank or NBFC. The loan amount depends on the value of the property. 2. Home Loan for Construction: If you have a vacant plot of land, then you can avail loan to construct your own house. The funds acquired will be used to cover the construction cost. The loan amount depends on the cost of construction. 3. Home Improvement Loan: You can avail loans to make improvements in your existing home as well as renovation, furnishing, or altering the structure of the house. 4. Land purchase loan: You can also avail a loan for purchasing a plot of land. The

Getting a home loan is very easy nowadays if you meet the eligibility criteria as prescribed by the lender. A home loan can be availed by a salaried individual, self-employed professional, or any woman who is about to deliver a baby. There are certain misconceptions and myths regarding pregnant women availing home loans, which make it pretty tricky for women to avail of a housing loan . Some Difficulties to Avail for Home Loan are:-  Like there is a myth that pregnant women would not be able to pay back the loan to the lender, which is not at all correct. If she was a salaried woman and had a considerable amount of savings, she can pay off the loan back in time. Another hurdle that comes in the way of pregnant women is the general assumption f the lender towards the women, and it is her faithfulness towards the job after giving birth to the baby. If any lender does not approve of the home loan to pregnant women, she can apply for a home loan with an NBFC to get better flexibilit

Yes, a credit score plays an important role when you apply for home loans . Usually, you need to have a credit score of above 700 to get a home loan from your lender. No lender would be willing to lend you if you do not have a decent credit score. Do you know why does your credit score drop? There are several reasons for the same: 1) When you make too many applications for credit cards or loans 2) If you fail to pay your credit card outstanding dues 3) If you do not make timely payments of your loan EMIs 4) If you over exceed your credit limit to meet additional requirements You can improve your credit score by following these steps to apply for a hassle-free home loan in the future: 1) Make sure you keep checking your credit score and report regularly to fix errors if any 2) Do not apply for a credit card or loan if you have been rejected earlier. You can apply after a gap of 6 months 3) Always pay your credit card bills and loan EMIs on time READ:- Does your Credit Scor

A home loan is a long tenure loan, which means you need to pay your loan EMIs for quite a longer duration. And, if you are going through a severe cash crunch and are not able to pay your installments on time. In such a case, your lender might levy a high penalty on you, which makes it more difficult for you to pay back the loan. To avoid such a situation, you need to take the following steps which might save you from becoming a home loan defaulter and thus keeping your credit score from falling too. 1) You can renegotiate with your lender if you are unable to pay your loan EMIs due to the cash crunch. It might allow you some time so that you make your loan payments later on when you have the cash available with you. 2) You can also opt for a balance transfer facility, which will help you to lower your interest rate on the existing loan along with the enhanced loan tenure. 3) Apply for the loan only after analyzing your budget, as it will be easy for you to pay back the loan well on

  Documentation plays a crucial role in the whole process, as it helps the lenders to know their customers in a better way. Since the home loan is a secured loan, therefore, the documentation process is a bit complicated. Financial institutions and banks ask for various documents required for a home loan because of the following reasons: 1. To know the age and the nationality of the loan applicant: As home loans are a long term loan and the applicant should be at a certain age that he/she could repay the loan. 2. Financial documents tell the lender about your credit history and repayment capacity. For example, if you have ever missed any EMI or due payment for an existing loan, then it will be clearly visible in your bank statement. 3. The credit score is of utmost importance as if it is not as per the requirement of the bank or NBFC, then they will reject the loan application. READ:- Home loan application – What Documents Do You Need?

A home loan balance transfer is a facility when you transfer your existing or old home loan to a new lender to lower your monthly EMIs. This option is exercised when a borrower finds that he is getting a lower rate of interest from another lender than the present one. One should opt for this facility after knowing its benefits. The benefits offered by a home loan balance transfer is given below: 1) With a home loan balance transfer, you get the opportunity to lower your interest rate on your present loan and so your monthly EMIs 2) You also get the flexibility of better repayment terms in case of a home loan balance transfer. IT helps a borrower to get free from debt burden quickly 3) Keep in mind that you would only get a lower rate of interest when you have a good repayment history in the past 4) You can also avail a top up on your existing loan to meet your additional requirements like home renovation, pay for your wedding or funding your child’s higher education READ:-  Sh

A home loan is based on two types of interest rates, fixed interest rate, and floating interest rate. Under the home loan based on the fixed home loan interest rate , the rate of interest does not change over the tenure of the loan. This means, if you have taken the home loan for 15 years @ 11% fixed rate, then till the end of 15 years your home loan interest rate will not change. However, in the case of a home loan based on a floating interest rate, the rate of interest on your loan does change based on the change in the bank rate. For instance, the bank rate when you availed a floating rate based home loan was 6.5%. You availed the loan @ of 11% for 20 years. Now, after 2 years, the bank rate has decreased to 6%. In such a case, it is likely that your home loan interest rate will also decrease. Some key differences between fixed and floating interest rate are: a) Nature: In the case of a fixed interest rate, the rate of interest is fixed throughout the tenure. Whereas for the float

A home loan or housing loan is a loan which allows you to have instant funds to either build or construct a new house or to purchase a new house of your home. As home loans offer a higher loan amount they come with a longer tenure which allows you to pay easily. You can pay back the loan in easy EMIs to the lender. But before you take a home loan you need to keep in mind that if you pay the loan as soon as possible you will get free soon from the burden of paying monthly EMIs. Have a look at in what ways you could repay your loan back in a hassle-free manner. 1) Select only that EMI which is easy for you to service. You can evaluate this by making use of online [ersonal loan EMI calculator that helps you calculate EMI you need to pay each month. 2) You could easily be able to pay a loa when you increase your EMI which decreases your repayment tenure. This is possible only when you earn a good amount or you got a hike in your salary. 3) You can prepay your loan before its tenure

Home Loan is the go-to source for meeting the fund requirements to buy a house. You should set your budget before starting to search for the desired property and as and when you select your dream house check your eligibility for the home loan . The amount of home loan you can get is subject to certain parameters on the basis of which banks assess your credibility and repayment capacity. These parameters are: a) Credit Score – It is the measure of your creditworthiness. Higher your score lower is the risk for bank in advancing loan to you which will result in the higher loan amount and better rate of interest. b) Financial Stability – You need to have a regular income source. Your income level plays a crucial role in deciding the loan amount, as you can pay only within the extent of your earnings. c) Value of Property – You gets a home loan by placing the purchased property as collateral. The maximum limit of home loan is 90% of the property's value. d) Liabil

The greatest joy of a person’s life is buying a home for himself/herself. But to make this dream come true, you need to follow certain guidelines and procedures. A home loan forms a major part of buying a house, and this process starts with submitting your home loan documents to the lender. Do you know the documents required for home loans? Do you have all the required documents? Before applying for a home loan, you need to ask these questions to yourself. You can find the answers to these questions in this article of ours. You will get to know how to process your entire loan as quickly and effectively as possible. You need to be very careful when it comes to your original documents, and you also need to know how to submit the documents. You should know the right person to contact to and also the process after document submission. So check before you apply for a home loan. Are you ready for the application? Find it out here. Also Read- Do you have these important home loan document

Do you feel burdened with increased repo rates? Do you want to transfer your home loans? You will find the answers to your question in this article. The recently increased repo rates have become a burden for the people as it has increased the home loans rate of interests. Many people might not be able to afford the payable EMIs. In such a situation people often look for a home loan transfer to get lower interest rates. The transfer of home loan outstanding to a new lender not only helps the people to avail lower interest rates but also makes their EMIs affordable. But most of them must not be aware of what home loan transfer is? What are its features? How to get you home loan transferred to a new lender? Criteria for choosing a new lender? All these questions have been answered in this article. To understand what home loan transfer actually is and how to get it processed by choosing the right lender in the market that is the one offering lower interest rates follow this article and ge

If you want to own a house and you do not have funds, then you may apply for home loans which generally comes with a longer tenure and the best part is that you can also take a top up on your existing loan to meet your additional requirements. You can avail a top up on your home loan wither from an NBFC or Bank from which you have already applied for a loan. The general tenure of a top-up loan is approx 10 years which could be stretch to 15 to 20 years if the tenure of the loan is very high. You can have several benefits on your home loan top up like: 1) The top-up loans can be used anywhere means to meet your emergency requirements, manage wedding expenses, funding your child’s higher education, etc. 2) They are ideal when you are looking for quick funds to meet your emergency requirements as they require very less documentation. 3) It is available at a very less rate of interest. Moreover, it also requires no mortgage to avail a loan which is hassle-free. 4) You can also ear

So, now we know how we could easily calculate the EMI on the home loan applied with the lender to buy the dream house of your own. This article will give you a brief understanding of what EMI is, what factor its constitutes, what is the practical approach to calculate EMI in excel as well by using a mathematical formula. Apart from these, one should also be aware of that amount of EMI may differ under two similar circumstances. This may due to the system of calculation followed which may either be a flat-rate system or the reducing balance system while calculating EMI on your home loan. There are a lot of options available with you using which you can calculate EMI on your loan amount in a hassle-free manner which will help you to determine in advance that whether you would be able to pay your loan well on time or not before it falls due which might attract you a penalty. So, before you make a plan to apply for a home loan to meet your housing requirements and the several expense

Although it is believed that getting a home loan nowadays has become easier but there are numerous times when your home loan application might get rejected when you make an application with the lender of your choice even when you have everything in place. The reasons are many that may lead to you a disappointment when you apply for a loan.  If the lender denies your loan application, the first thing you have to do is to find out the specific reason that why your loan application has been refused by them and try to fix it as soon as possible to meet your financial requirement at the earliest. In order to avoid such situation, it is advisable that you need to be very active while managing your financial profile while making a fresh home loan application. You should try to check your CIBIL score, your previous credit history and certain other important factors that might bring rejection to your home loan application. You may also face a loan rejection in the case when you frequently

If you are need of urgent cash and are having a home loan going on you can always apply for a top-up loan. A top up loan is provided ideally over the ongoing home loan from the same bank or NBFCs with a general tenure of around 10 to 15 years. However, unlike home loan which can be used only for house purchase, this can be used for any of your personal or professional purpose which could be medical emergencies, education, house renovation or anything such. It has its own benefits apart from its multiple utilization; it comes with less paperwork and a low rate of interest compared to the personal loan. Also, if you are availing it for house renovation or such, it offers tax benefits as well. It generally requires basic documentation like your income statement, basic KYC and 3-month payment receipt of the ongoing home loan. You are easily liable for such loan if you have been paying off the installments timely and have a stable income. However always rememb

Today every house is different having something unique in its own way. It is the reason why people generally prefer purchasing under construction property rather than a ready apartment so that they can customize their dream home accordingly. Also, an under-construction property is priced usually 20% lower than the price of a constructed building. An under-construction property coupled with the home loan makes the investment genuinely affordable. But since it involves huge investment so an individual should be very prominent before investing. There are few basic things which need to be taken care before making such investment are like verification of the builder. Builder’s commencement certificate defines that the builder is authentic in construction and is not engaged in any legal concern. Also, as the builders always charge high rate so there is always an option of negotiation available which thus helps you to cut down your loan amount and always prefer a wise lender who can he

The Home Loan EMI calculator is a calculator which helps you to determine and know the amount of EMIs you need to pay every month to your lender. By making use of home loan EMI Calculator, you can accordingly plan how much loan amount you need to borrow initially. It is important to use the online home loan EMI calculator, as once you know the amount you need to pay back it gets easier for you to repay your loan amount. A home loan EMI calculator helps you find out the loan amount that you are eligible for. Before applying for a home loan, you may check and compare your home loan EMI by using home loan EMI calculator to calculate your loan EMI in a few simple steps. Using the calculator is pretty simple- The applicant who wishes to apply for a home loan may check his/her EMI eligibility putting in a few details like enter the home loan that you require to meet your financial requirement, the rate of interest, and loan tenure in years. The home loan EMI calculator will then tel

The three rates namely, MCLR Rate, Base Rate and BPLR Rate are immensely used by both private and public sector to fix the pricing of their loans. But recently the government has brought some changes related to this. Home loan borrowers have to switch from base rate to MCLR rate from April 2016 since the introduction of MCLR rates that brings transparency in loan pricing and processing. These home loan interest rates are fixed by the government to help banks and NBFCs to set their loan prices. These rates are used as benchmark rates for the lenders below which they cannot lend any loan to the prospective buyers. These rates give a clear indication that no banks can lend below this rate. In short, these set rates are a clear cap on lending. Among the three rates, the Benchmark Prime Lending rate allows creditworthy customers an opportunity to avail loans at lower rate of interest. If you are a customer who is looking to avail at these rates, you need to talk to your bank online or

Before you hunt on to find the most suitable home loan for yourself to finance your purchase of a dream house. Make sure that you find the right lender and carefully check all the clauses mentioned in your home loan agreement before signing a final document. check your eligibility of home loan . We might feel frustrated while signing a number of pages in the home loan document, but not checking the important clauses will cost you more than your loan. Actually, a home loan agreement is a booklet that contains many number of pages and full of technical jargon and terms that one may find it difficult to apprehend. Though a great number of home loan borrowers overlook the clauses of the loan document, it is indeed very important to understand it well to save you a cost in the long run. Whenever you sign a home loan agreement, you agree to abide by the rules and regulations pre-determined by the lender itself. RELATED:- IMPORTANT CLAUSES OF HOME LOAN THAT YOU SHOULD KNOW Although, it is of

A home loan has a lengthy process and contains numerous conditions. That is why here we assess five major points in the home loan with low interest rate process of public and private banks. a) Interest rate Updation: Private banks are slow to move their interest rate even for existing customers as per the changes in repo rate by RBI. Whereas, in the case of public banks with the change in repo rate interest rate for new as well as existing customers is normally moved. b) Prepayment Charges: Private banks charges an additional percentage fee on outstanding loan amount when you prepay your existing loan. Public banks do not have any prepayment charges. c) Prepayment Limit: Private banks also tend to set the limit on the amount of prepayment which can be done at one time. They would for example have. 25% of outstanding loan as a limit for one-time prepayment. Public banks do not have such conditions. d) Prepayment Period: Private banks have a lock-in of 6 months to 1 year bef

To refinance yourself to buy a dream house, one opts for a home loan to turn his dream into a reality. There are several numbers of home loan providers in Delhi NCR that offers the best home loans with attractive deals and offers. Before you apply for a home loan, you should compare and cross-check the terms and conditions different lenders are offering and choose the best one that fulfills your requirement. As stated above, some of the leading home loan financial institutions that offer the best rates on home loans along with some other perks and benefits are ICICI Bank, Axis, DHFL, HDFC, SBI. Almost all of these lenders follow the same eligibility criteria in order to get a home loan. You get a loan only when you pass their eligibility criteria. They also have a very hassle-free process for applying for loans, simple documentation or minimum documentation criteria, zero collateral requirements, NIL processing fee, no additional charges and lots more. However, it is wiser to c

If you want to take a home loan for under-construction projects, there are several things you should be aware of before you apply for a home loan at low-interest rates with the concerned lender. As having the knowledge of these factors will benefit you in the long run as well as the future prospect of your property when you resale it. Usually, lenders sanctions home loan to the builder directly after assessing their creditworthiness and checking whether they have the commencement certificate with them or not. Not having this certificate will allow the lender to not give the loan to your builder. Before making any investment in property, you should be very well aware of certain things like what is the real worth of your property in your location and what price the builder is quoting to you. Also, analyze its resale value when you plan to sell off your property and buy a new one. Make sure that the property should be easily accessible for the buyer who buys it.  Always try to keep a re