Allahabad is the second oldest city in India and is of great importance in Hindu scriptures. The city is a haven to various colleges, research institutions, and central and state government offices. Besides that, Allahabad has hosted several cultural and sporting events, including Kumbh Mela and the Indira Marathon. This city’s economy was based on the pillars of tourism, however, now most of its income comes from real estate and financial services.
Enriched in glorious history, Allahabad has picturesque places to explore, such as Sangam, which is a confluence of three holy rivers-Ganga, Yamuna, and Saraswati; Allahabad Fort, which was built by Akbar and showcases art, design, architecture, and craftsmanship of highest order; Anand Bhawan, which is the ancestral home of the Nehrus turned into one of the excellent museums of India. Apart from these, you can visit Allahabad Museum and have a look at the paintings of Nicholas Roerich, terracotta figurines, Rajasthani miniatures, coins and stone sculptures from the 2nd century BC.
Home loan has made buying a house a simpler task to perform. It saves you from getting into financial crunch as you can borrow large amount of money required to buy your dream home. The amount can be repaid in easy installment with auto debit facility. Home loan in Allahabad can be repaid in 20 to 30 years. The approval of loan amount depends on borrower’s salary, cost of property in their region. Banks offer loan of up to 85% of property value.
Home loan in Allahabad is sanctioned on the below eligibility criteria.
- You should fall in the age bracket of 21 to 65 years, whether salaried or self employed
- Educational qualifications for self-employed individual
- Job stability and monthly income to analyze repayment capacity
- Credit history and score
- Co-applicant’s—spouse or parents— income proof, if any
- Liability of other loans, such as personal loan, education loan or credit card etc.
- Assets such as property, jewellery etc.
- Filled and signed application form with photograph
- Processing fee cheque or draft
Home Loan Features
- Swift and transparent processing
- Home loan insurance – It protects your home loan and helps your family in paying off the remaining home loan in case of any unfortunate event.
- Flexible home loan interest rate, where you can select from fixed and floating rate. Home loan in allahabad allows you to convert your fixed loan to floating after a predefined time.
- Home loan balance transfer allows you to transfer your ongoing home loan to a bank with lower EMI and interest rate.
- Pre-approved home loan for quick purchase of home with minimum documentation and easy approval. You will not lose your dream home because of any deal in the home loan application process.