Home Loan in Kolkata

Kolkata is the capital of the Indian state of West Bengal and is situated on the east bank of the Hooghly River. It is the prime commercial, cultural, and educational centre of East India. Recognized as the City of Palaces, Kolkata has several splendid mansions built across the city. This place owes its magnificence to European styles and tastes imported by the British, Portuguese and French. Most of those structures are well maintained and declared as heritage monuments.

Kolkata is the primary hub of eastern India in regards to business, commerce and finance and the main port of communication for the North-East Indian states. It is also the home to India’s oldest and second-largest stock exchange company – The Calcutta Stock Exchange.

Not just this, Kolkata also constitutes of a major seaport, an international airport and several nationally and internationally reputed institutions which supply a highly skilled work force.

Kolkata is often described as respectful, enterprising, enthusiastic, and a place that offers amazing food. Known as the cultural capital of India, Kolkata produces poets, writers, film producers and Nobel Prize winners.

Home Loan

Buying a home is no more a tedious task. Once you are done with the selection process, your financial worries are taken care by your home loan lender. It is the easiest way to finance for your dream home. Home loan is a secured loan that can be opted for buying a new house, a commercial property or renovating an old house of yours. Here, you can borrow larger amounts and for a longer tenure that reduces the EMI burden. In a home loan, your property is considered as the collateral against the loan amount. If you are unable to repay the loan amount, the bank has the authority to take away the property.

Home Loan Eligibility

Home loan in Kolkata is offered against 70% to 85% of  your property value. Following are the eligibility criteria required for home loan

• Age (21–65 years)
• Educational qualifications
• Stability and continuity of income for repayment
• Credit score ranging between 300 to 900, where 300 denotes a bad credit score and 900 stands for best credit score.
• Co-applicant’s—spouse or parents— income, if any
• Liability of other loans, such as personal loan, credit card etc.

Home Loan Documentation

• Filled application form with photograph
• Processing fee by cheque or draft

Home Loan Features

• 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 interest rate – Here fixed interest rate remains the same throughout the loan tenure, whereas floating interest rate depend on the market trends.
• Pre-approved home loan to save your time on home loan sanctioning process and letting your dream home get sold out
• Home loan balance transfer
• Quick and transparent processing