Home Loan in Noida

Noida, a part of National Capital Region of India, was established during the Emergency period (1975–1977) as a part of urbanization. This city has the highest per capita income in the NCR, and has replaced Mumbai as the second-best realty destination. With many big companies setting up their businesses in Noida, it is evolving as a hot spot for IT and IT-enabled services industry. It has also become the preferred destination for companies offering IT, ITes, BPO, BTO and KPO services in various domains such as banking, financial services, insurance, pharma, auto, FMCG and manufacturing.

There are some interesting places to visit in Noida such as Nandan Kanan National Park, Noida Golf Course, ISKCON Noida, Shaheed Smarak, and Immanuel Marthoma Church. Also famous for St Mary’s Church, Christ Church, and Kali Bari Temple, Noida strikes a chord with all types of visitors.

Noida is progressing to become a model city in UP with the development in industry, commerce and trade. This city also houses the head office of the Software Technology Park, setup by the Government of India for the advancement of the software industry. Besides IT, Noida has emerged as a hub for automobile ancillary units too.

Home loan

Home loan is a medium that takes you closer to your dream home. This secured loan helps you purchase a house, commercial property or renovation and extension of the house. Home loan in Noida can be availed at lower interest rate with longer repayment tenure. The amount is repaid in easy EMI that is auto deducted from your saving account. A home loan is offered over 70% to 85% of the property value and the remaining amount is to be paid by the borrower while purchasing the property.

Home Loan Eligibility

For home loan in Noida, you need to meet the following eligibility criteria.

• Age of the borrower, salaried or self-employed (21–65 years)
• Job stability and monthly  salary for loan repayment
• Credit history for loan approval
• Income proof of co-applicant, if any
• Liability of other loans, such as personal loan, credit card etc.
• Assets such as property, jewellery etc.

Home Loan Documentation

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

Home Loan Features

• Quick and transparent processing
• Pre-approved home loan – borrower can get the home loan approved in advance that requires minimum documentation and saves time when purchasing the house. It saves your dream home from getting sold out in the fuss of loan approval.
• Fixed and floating interest rate where the earlier offers same rate throughout the tenure and the latter has a flexible interest rate depending on the market rates.
• Home loan insurance for protection of home loan and its repayment in case of any unfortunate event.
• Home loan balance transfer – one can transfer the ongoing home loan to another bank with lower monthly interest rate or longer tenure etc.