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   Home Loan

The moment you decide to buy a home, you can put in your application for Home Loan. Yes, you can apply for a loan even before you have selected the property.
The property need not even be in the same city where you are residing. The only condition being that Bank has home loan operations in both the cities.Mumbai Pune Loans helps you to compare home loan interest rates in Delhi

Home loan process is basically divided in three stages

1. Pre-Approval
Pre-Approval is basically individual credit approval based on the specific set of financial and identity documents.

2. Legal and Valuation
Legal and Valuation is the process of evaluation of the property documents by the banks empanelled lawyer and valuer , Lawyer checks the legality of the documents wherein the valuers determines the market value of the property


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   Property Value:
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3. Disbursal
It’s the process of preparing the payorder after submitting all the original documents as per the lawyers report and signing of the agreement between the bank and the applicants of the loan. If it is refinancing you are interested in, it is possible within 6 months from the date of purchase of property,

Disclaimer:
Loan Shopee.com doesn't provide Loans on its own but ensures your information is sent to bank which you have opted for. All loans are on discretion of the associated Banks.

Read below how these factors effect your Interest rates
**
To help its customers get the best interest rates on home loans Loan shopee has consolidated all the information regarding latest rate of interests at one place. Please keep visiting this section to get updated rates of interests on home loans.
Bank Name
ICICI Bank Scheme I :10.50% (Fixed 1 yr), Scheme II : 10.75% (Fixed 2yrs), Scheme III : 10.75% (Fixed 3yrs), then 10.50% (Upto 25Lacs)
Scheme I :11% (Fixed 1 yr), Scheme II : 11.25% (Fixed 2yrs) Scheme III : 11.25% (Fixed 3yrs), then 11%
0.50% of loan amount upto 1 crore N.A
HDFC Ltd Scheme I : 10.75% (Fixed for 3 yrs )
Scheme II : 11.25% (Fixed for 5 yrs )
, After that 10.50% rate or then applicable rate.
0.5% or maximum 10,000+service tax (10.30%) No prepayment charges shall be payable for partial or full prepayments irrespective of the source
First Blue Home Finance 10.50% (for Salaried / SEP), 11% (For Self Employed) (Upto 25Lacs), Then 10.75% (for Salaried / SEP), 11.25% (For Self Employed) Salaried - 0.5% or 6000 whichever is less plus doc charges plus taxes (upto 25 lacs), 0.5% or 10000 whichever is less plus doc charges plus taxes (25-75 lacs), 0.5% or 15000 whichever is less plus doc charges plus taxes (above 75 lacs).
Self Employed - 0.5% plus doc charges plus taxes.
Nil
LIC Housing Scheme I : 10.40%
Scheme II : 10.70% (Fixed for 3 yrs)
Scheme III : 11.15% (fixed for 5 yrs)
Up to 30 lacs : 10,000+ 10.30%(Service tax)
30 - 50 lacs : 15,000+10.30%(service tax)
50 & above : 20,000+10.30%( Service tax)
2% of out standing Payment
AXIS Bank Scheme I :11.75% (Fixed for 20 yrs)
Scheme II : 10.75% (Upto 25Lacs),Then 11%
1% of the loan amount + applicable taxes 2% (For Scheme I)
Nil (For Scheme II)
IDBI 11% (Upto 25Lacs), Then 11.50% - 11.75% Up to 1%of loan amount
(Rs 2500 to be collected at login and balance at the time of sanction )
If Balance Transfer then 2% Otherwise Nil
ING Vysya 10.75% 5000 + 10.30% (service tax) (Upto 20Lacs)
5000 + 10.30% (service tax) (Above 20Lacs)
2%
Standard Chartered 10.75% - 11.25% 0.5% 2.5%
DHFL 11.50% 0.5% - 1%(basis on profile) If 25% of outstanding amount is paid every year -No Penalty , otherwise 2% of outstanding amount
Citibank 10.50% (Upto 25Lacs), then 11% 0.5%+Service tax 2%
India Bulls 10.50% (Upto 25Lacs), Then 11% upto 30lacs - 2,500 + 10.30% (service tax)
above 30lacs to 1.5Cr - 5,000 + 10.30%(service tax)
Above 1.5Cr - 10,000 + 10.30%(service tax)
2%-3%
Bank of India 11% (Upto 25 Lacs), Then 11.75% For loans upto Rs.30 lacs One time @ 0.55% of loan amount min. Rs. 3000/- and max. Rs.10000/-
For Loan over Rs.30 Lacs upto Rs.50 lacs – One time flat Rs.15,000/-
For Loan over Rs.50 Lacs upto Rs.1.00 crore – One time flat Rs.20,000/-
2.25% of outstanding loan amount.
Canara Bank 11.75%
Kotak Bank 11.25%( for Salaried), 11.50%( for Self Employed) 0.25% - 0.5% 2% of Principal Outstanding + 2% on amount prepaid in last 12 months
Dena Bank 11.15% (Upto 25Lacs), Then 11.75% - 12.25% N.A N.A
Barclays Bank 11% - 11.25% 0.25%( for salaried ) , 0.50%( for Self employed) 3%
Reliance 11%
Federal Bank 10.78% 0.50%
Development Credit Bank 11.50% 0.5% If 25% of outstanding amount is paid within 3 years - No Penalty , otherwise 2% of outstanding amount
Tata Capital 10.75% 0.5 to 1% off the loan amount. N.A
Indian Bank 11.25% 1) 0.25 % on Loan amount (Non refundable) (to be remitted at the time of submission of application)
2) 0.32 % on Loan amount (at the time of acceptance of sanction)
1) No pre-closure charges, if loan is closed out of own funds.
2) 2% on Balance outstanding or applicable Drawing Limit whichever is higher, if loan is closed by way of take over by another Bank / Financial Institution.
Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.
Banks/ Financial Institutions can contact us at customercare@loanshopee.com for inclusions or updates.
Basic Documents Required
The following documents needs to be submitted for Pre-Approval
Salaried Customers Self Employed Businessman Salaried NRI
Application form with photograph Application form with photograph Application form with photograph
Identity and Residence Proof Identity and Residence Proof
1. Passport with Valid Visa Stamp
2.Overseas Residence Address Proof (Driving License/Electricity Bill/ Telephone Bill
3. Work Permit /Iqama
Last 3 Months Salary-slip Education Qualifications Certificate and Proof of business existence Last 3 Months Salary Slip
Form 16 Last 3 years Income Tax returns (self and business) Last Year Income Certificate ( I20/P07/ Annual Tax Certificate)
Last 6 months bank statements Last 3 years Profit /Loss and Balance Sheet
1. Last 6 Months overseas Bank Statement reflecting salary Credits in bank statement
2. Last 6 Months NRE/NRO Bank statement if having any NRE/NRO Account
Processing fee cheque
1. Last 6 months bank statements
1. Last 6 months bank statements (self and business)
2. Processing fee cheque 2. Processing fee cheque

Eligibility

A number of factors are taken into account when assessing your repayment capacity. Your income, age, number of dependants, qualifications, assets and liabilities, stability/ continuity of your employment / business are some of them. However, there are ways by which you can enhance your eligibility.

If your spouse is earning, put him/her as a co-applicant. The additional income shall be included to enhance your loan amount. Incidentally, if there are any co-owners they must necessarily be co-applicants. One can include Spouse/Parents/Children as Co-Applicant if you require higher eligibility subject to maximum of three applicant.

Providing additional security like bonds, fixed deposits and LIC policies may also help to enhance eligibility

Following are eligible to apply for Home Loan

  • Salaried Individuals
  • Self employed Professionals/Business men
  • NRIs

    To apply for Home Loan
  • You must be at least 21 years of age when the loan is sanctioned
  • The loan must terminate before 58 years or retirement ,whichever is earlier in case of salaried and for selfemployed before 65 years.
  • The maximum tenor that the banks gives the loan is from 5 years to 20-25 years subject to the retirement age.
  • Your must be employed or self-employed with a regular source of income

The final amount to be sanctioned will depend on your repayment capacity. However, what you ultimately are entitled to will have to conform within the limits fixed for each loan.
Also, when the company looks at the total cost, registration charges, transfer charges and stamp duty costs are included.

 
 
 
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