Home Loan at a Glance
Home Loan is a sum of money borrowed from a Bank/NBFC to purchase a New/Old House, Residential Open Land, or for self-construction. Home loans consist of an adjustable or fixed interest rate and payment terms.
Adjust the sliders to estimate your monthly EMI for Home Loan.
Total payable ₹1,04,13,879 · No CIBIL impact · Takes 90 seconds
TRUSTED BY INDIA'S LEADING BANKS & NBFCS
Eligibility Criteria.
Who can apply?
| Profile | Salaried | SEP/SENP* |
|---|---|---|
| Age | 18 to 55 Years | 21 to 60 Years |
| Income | Rs. 1,20,000 (p.a) | Rs. 2,00,000 (p.a) |
| Loan Amount Offered | Rs. 10L to 2Cr* | Rs. 10L to 2Cr* |
| Tenure | 5 to 30 Years | 5 to 30 Years |
*SEP: Self-employed professional; SENP: Self-employed non-professional.
*Loan amount can be higher subject to Bank's/NBFC's internal approvals.
Types of Home Loans
- ✓House (Old/New) Purchase Loans: Can be availed when buying a new home. Compare home loans at loanfina.com.
- ✓Land Purchase Loans/Plot Loans: For purchasing a plot of land for construction or investment.
- ✓Self-Construction Loans: Granted for construction on a plot you already own.
- ✓Home Improvement Loans: For renovating or repairing an existing home.
- ✓Home Extension Loans: For expanding your home or adding rooms.
Benefits of Home Loan
- ✓Deduction for Interest Paid: Claim up to Rs. 2 lakhs under Section 24 of Income Tax Act.
- ✓Deduction on Principal Repayment: Claim up to Rs. 1.5 lakhs under Section 80C (conditions apply).
- ✓Capital Appreciation: Property value typically increases over time.
- ✓Pradhan Mantri Awas Yojana (PMAY): Government subsidy up to Rs. 2.67 lakh.
- ✓Credit Score: Timely EMI payments help build positive credit history.
Documents Required for Home Loan.
Keep these ready
- ✓Completed and signed home loan application form
- ✓Recent photographs and investment proof (if any)
- ✓Proof of identity (Voter ID, Aadhaar, PAN, Driving Licence)
- ✓Statements of investments, if any
- ✓Approved extension/construction plan document
- ✓Valuation/cost estimation report from bank/NBFC-approved evaluator
- ✓Additional documents: municipal/society/builder NOC or allotment letter
- ✓Past six months' salary slips and salary account statements (for salaried)
- ✓IT documents, Profit & Loss statement certified by Chartered Accountant (for self-employed)
- ✓Acceptable address proof: property tax receipt, government ID, or utility bills
- ✓Age proof: 10th certificate, birth certificate, passport, or LIC policy receipt
With loanfina.com You Can Avail
- ✓Calculate your eligible loan amount (Free)
- ✓Calculate your home loan EMI
- ✓Get best home loan quotes based on requirements
- ✓Compare home loan products easily
- ✓Apply for home loan online
- ✓
*Interest rates and figures are indicative and may change periodically. Final rates depend on factors like credit score, repayment history, and lender discretion.
Adjust the sliders to estimate your monthly EMI for Home Loan.
Total payable ₹1,04,13,879 · No CIBIL impact · Takes 90 seconds