Home Loan in Nasik (Nashik)

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

Name of Lender	Loans of Up to Rs. 30 Lakh
Bank of India	7.10% p.a. onwards	Check Eligibility
State Bank of India	7.25% p.a. onwards	Check Eligibility
Punjab National Bank	7.20% p.a. onwards	Check Eligibility
Canara Bank	7.15% p.a. onwards	Check Eligibility
HDFC Bank	7.90% p.a. onwards	Check Eligibility
Bajaj Housing Finance	7.40% p.a. onwards	Check Eligibility
ICICI Bank	7.65% p.a. onwards	Check Eligibility
Axis Bank	*8.25% p.a. onwards	Check Eligibility
Federal Bank	*7.90% p.a. onwards	Check Eligibility
Kotak Mahindra Bank	7.70% p.a. onwards	Check Eligibility
IDFC FIRST Bank	8.85% p.a. onwards	Check Eligibility
IDBI Bank	7.35% p.a. onwards	Check Eligibility
RBL Bank	8.20% p.a. onwards	Check Eligibility
Tata Capital Housing Finance	7.75% p.a. onwards	Check Eligibility
PNB Housing Finance	*7.20% p.a. onwards	Check Eligibility
Sammaan Capital (Formerly known as Indiabulls Housing Finance)	8.75% p.a. onwards	Check Eligibility
India Shelter Home Loan	8.43% p.a. onwards	Check Eligibility
L&T Finance Limited	*8.40% p.a. onwards	Check Eligibility
Godrej Housing Finance	7.75% p.a. onwards	Check Eligibility
Home First Finance	8.00% p.a. onwards	Check Eligibility
Easy Home Finance	8.99% p.a. onwards	Check Eligibility
Piramal Capital Housing Finance	*8.25% p.a. onwards	Check Eligibility
Shubham Housing Finance	10.45% p.a. onwards	Check Eligibility
Punjab & Sind Bank	7.30% p.a. onwards	Check Eligibility
Jio Housing Finance	8.20% p.a. onwards	Check Eligibility
HDFC Sales Pvt Ltd	7.90% p.a. onwards	Check Eligibility

Note: Interest rates as of 6 January 2025

Features of Home Loan offered in Nasik

• The home loan interest rates offered by banks, housing finance companies (HFCs) and non-banking financial companies (NBFCs) usually start from 8.40% p.a. for new housing loan customers with repayment tenures of up to 30 years.
• The Reserve Bank of India (RBI) has set detailed guidelines with regards to the loan to value (LTV) ratio for home loans. The final list of LTV ratios for various home loan amounts according to the RBI regulations 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

• Existing borrowers can exercise the home loan balance transfer option to transfer their ongoing home loans to other banks/HFCs/NBFCs at lower interest rates.
• Lenders may also provide the home loan top-up facility to their existing customers who can use the additional funds, over and above their existing loan, to manage their personal/business related expenses.
• Many banks, NBFCs and HFCs offering home loans in Nashik also sanction pre-approved home loans to select customers based on their monthly/annual income, credit scores, occupation profile, etc.
• The RBI has issued specific directives regarding the home loan prepayment facility. These rules state that lenders cannot levy prepayment charges on home loans availed at floating interest rates. However, lenders offering home loans at fixed interest rates can levy prepayment fees on their borrowers. They can also provide total or partial waiver on the home loan prepayment charges.

Home Loan in Nasik: Eligibility Criteria

The home loan eligibility criteria usually set by lenders for their loan applicants for availing housing loans:

Job Profile

Both self-employed and salaried individuals are eligible for availing home loans in Nasik.

Age

Home loan lenders in Nashik usually approve loan applications of individuals aged between 18 and 65 years. However, loan applicants are required to pay back the total loan amount by the time they are 70 years old.

Nationality

Home loan lenders usually consider loan applications of resident Indians. However, some lenders also provide NRI Home Loans to NRI, PIO and OCI loan applicants.

Credit Score

Most lenders consider home loan applicants with CIBIL/credit scores of 750 and above as financially disciplined. Thus, home loan lenders are also more likely to sanction loan applications of individuals with higher credit scores. Such applicants also stand a higher chance of availing home loans at lower interest rates.

Income

Home loan lenders in Nashik usually consider the monthly or annual incomes of their loan applicants before deciding on approving/rejecting their loan application. Banks/HFCs and NBFCs usually sanction loan applications of salaried individuals with monthly income of Rs 10,000 and more and self-employed applicants with annual income starting from Rs 1 lakh.

Work Experience

The total work experience (for salaried) or total no. of years in business (for self-employed) is an important eligibility criteria for home loan lenders. Any lender offering a home loan in Nasik will usually approve the loan applications of salaried applicants with minimum 2 years of work experience and self-employed applicants with business continuity of at least 2 years.

Documents Required for Home Loans in Nashik

Lenders usually ask their loan applicants to submit the below mentioned home loan documents before approving their loan applications:

For salaried applicants

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

Additional documents required by self-employed applicants

• Last 3 years ITR
• Form 26AS (updated)
• Last 3 years financial statements (balance sheet and P&L account) duly attested by a Chartered Accountant (CA)
• 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 applicants in Nasik may have to submit additional documents, apart from the ones mentioned above, in case their lenders need any further information.