Home Loan in Agartala

Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Agartala

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50%-9.85% p.a.	8.50%-9.85% p.a.	8.50%-9.85% p.a.	Apply Now
HDFC Bank Limited	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards	Apply Now
LIC Housing Finance	8.50% - 10.35% p.a.	8.50% - 10.55% p.a.	8.50% - 10.75% p.a.	Apply Now
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50%-11.45% p.a.	Apply Now
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Apply Now
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Apply Now
IDFC First Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards	Apply Now
L&T Finance Limited	8.65% p.a. onwards	8.65% p.a. onwards	8.65% p.a. onwards	Apply Now
Tata Capital Housing Finance	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Apply Now
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.	Apply Now
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Apply Now

Note: Interest rates as of 11th June 2024

Home Loan in Agartala: Features

• The home loan interest rates offered by most banks, HFCs or NBFCs in Agartala usually start from 8.40% p.a. (for new home loan customers)
• The home loan tenures provided by lenders in Agartala can go up to 30 years.
• According to the RBI’s guidelines on loan to value (LTV) ratio for home loans, lenders can offer LTV ratios of up to 90% of the total cost of property on housing loans. The list of LTV ratios provided by home loan lenders for different loan amounts are mentioned below:

Home Loan Amount	Home Loan LTV Ratio
Up to Rs 30 lakh	Up to 90% of property cost
Above Rs 30 lakh and up to Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

• Many banks, HFCs and NBFCs provide the balance transfer facility on home loans for existing customers who want to transfer their home loans to other lenders at lower interest rates.
• Lenders may also offer the home loan top-up facility to their existing housing loan customers who can use this option to avail additional funds, over and above their existing home loan, to manage their personal and business related expenses.
• Banks, HFCs and NBFCs offering home loans in Agartala may also sanction pre-approved home loans to their select customers. These customers are selected by their lenders based on factors like their income, credit scores, occupation profile, etc..
• The RBI has outlined specific rules regarding prepayment of home loans. According to the RBI’s regulations on home loan prepayment, lenders cannot levy prepayment fees on home loans with floating interest rates. However, banks, HFCs and NBFCs offering home loans at fixed interest rates can levy prepayment fees. Moreover, lenders providing fixed interest rate home loans can offer total/partial waiver on prepayment fees to their borrowers.

Home Loan in Agartala: Eligibility Criteria

The eligibility criteria for home loans may differ from one lender to another. Some of the most common home loan eligibility conditions usually set by banks, HFCs and NBFCs are as follows:

Job Profile

Home loan lenders in Agartala usually prefer salaried individuals working in govt. institutions, private entities and public sector companies and self-employed applicants like accountants, doctors, lawyers, architects, contractors, traders, etc.

Age

Lenders offering home loans in Agartala usually consider the loan applications of individuals aged 18 years and above. However, they also require loan applicants to pay off the entire loan amount by the time they are 70 years old.

Nationality

Banks, HFCs and NBFCs providing home loans in Agartala usually prefer resident Indians as their loan applicants. However, some home loan lenders offer home loan schemes for NRI, PIO and OCI applicants.

Credit Score

Home loan applicants with credit scores of 750 and above are usually preferred by banks, HFCs, and NBFCs as they consider such applicants as financially disciplined. Therefore, loan applicants with higher credit scores are more likely to avail home loans and at lower interest rates.

Income

Lenders offering home loans in Agartala usually prefer salaried applicants having monthly incomes of Rs 10,000 and above & self-employed applicants with minimum annual incomes of Rs 1 lakh.

Work Experience

Banks, HFCs and NBFCs offering home loans in Agartala usually prefer approving loan applications of salaried employees (with minimum work experience of 2 years) and self-employed individuals with at least 2 years of business continuity.

Also Calculate EMI for home loan

Home Loan in Agartala: Documents Required

While the list of home loan documents asked for availing housing loans may differ from one lender to another, some of the most important documents required for home loans are as follows:

For salaried applicants

• Identity/age proof: Aadhaar Card, PAN card, Voter ID, birth certificate, etc.
• Address Proof: Ration Card, Voter ID, utility bills (gas, electricity, telephone), LIC policy receipt, etc.
• Proof of income: Form 16, salary slips of last 3 months, contract of employment, increment/promotion letter, income tax returns (ITR), etc.
• Bank statements of home loan applicants reflecting repayment of any existing loans
• Property related documents
• Cheque for processing fees on home loans

Additional documents required by self-employed applicants

• ITR of Last 3 years
• Last 3 years financial statements (balance sheet and P&L account) duly attested by a CA
• Updated Form 26AS
• Business licence, business profile and proof of business address of loan applicants
• Savings account statement of loan applicants and current account statement of their business entity of last 6 months

Note: Home loan lenders in Agartala may ask their applicants to submit further home loan documents, apart from the ones mentioned above, based on their applicants’ credit profiles.