Are you planning to buy a home in Chandigarh? Buying a home without getting your financial stability disturbed is possible only through a home loan. It saves you from borrowing money from other sources at a higher interest rate. You can take a home loan for buying a flat or a multi-storied building, commercial property or home renovation. Here a lumpsum amount is offered that is to be repaid in easy EMIs before the tenure gets over.
Home loan is offered against a fixed percentage of the property. Below are the required eligibility criteria the lender may look for loan approval.
- Borrower should be salaried or self-employed
- He should be of 21years or above
- He needs to have a minimum required educational qualification, if self employed
- He should have job stability and minimum required salary
- He should have a good repayment history
- He should mention your other loan liabilities
- Filled and signed application form with photograph
- Processing fee cheque or draft
- Get home loan Tax benefits
For salaried individuals
For self-employed individuals
Identity, residence and age proof– voter id, Pan card, Adhar card, passport, etc. that is acceptable to the bank.
Last 6 months’ bank statements for approval of pre-decided loan amount
Last 3 months’ salary slips
Education qualification certificate
Form 16 or Income Tax returns
Last 3 months’ salary slips to check your income and job stability
Form 16 or Income Tax returns with computation of income
Proof of continuity/existence of business, for self-employed non-professionals
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Home Loan Features
- Home loan insurance – for protecting your loan in case of any unfortunate event and to help your family in repayment of the remaining loan amount.
- Home loan balance transfer – for transferring of current home loan from one lender to the other in search of better interest rates.
- Pre-approved home loan – for saving time lost on home insurance approval at the time of purchasing home that can even get sold out because of the delay in the documentation or approval process.
- Flexible interest rate – for selection of home loan interest rate whether constant throughout the tenure (fixed) or variable according to the market rate (flexible)
- Quick and simple processing
Home Loan Details
Starting from 6.70%
1 year–30 years
Pre-closure charges/ pre-payment