Home Loan in Chandigarh

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 Eligibility

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

Home Loan Documentation

• Filled and signed application form with photograph
• Processing fee cheque or draft

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
Interest rate	10%–10.5%
Processing fee	0.50% of the loan
Loan tenure	1 year–30 years
Pre-closure charges/ pre-payment	Nil