About Home Loan?
Home Loan is a Secured Loan offered against the security of a house/property which is funded by the bank's loan, the property could be a personal property or a commercial one. The Housing Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property.
- Documents Required
- Benefits of Home loan
- Intrest Rates
- EMI Cal
Generally the documents required to processing your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:-    » Address Proof.    » Income Proof of the applicant & co-applicant.    » Last 6 months bank A/C statement.    » Passport size photograph of the applicant & co-applicant. In case of Salaried:-    » Employment certificate from the employer.    » Copies of pay slips for last 3 months and TDS certificate.    » Latest Form 16 issued by employer.    » Bank statements. In case of Self-employed:-    » Copy of audited financial statements for the last 3 years.    » Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if       it is a company.    » ITR for last 3 years.
There are various steps involved in getting a Home Loan from selecting your property to filling up the loan application.
Following are the various stages in Home Loan:-
» Wide range of product to choose from » Guidance through out the process making home buying hassle free » Doorstep service at your comfort » Flexible repayment options » Simplified documentation » Insurance options for your home loan at attractive premium » Bank checks the legal documents » Signing of agreement & the loan disbursal
|Home Loan Rate of Interest|
|Banks||Interest Rate||Banks||Interest Rate|
|ICICI Bank||10.10% to 10.15%||HDFC Bank||10.25%|
|State Bank Of India||10.10% to 10.15 %||LIC Housing||10.20% to 11.25%|
|Standard Chartered||10% to 10.25%||Citibank||10.25% to 10.50%|
|India Bulls||10.25% to 11%||Allahabad Bank||10.20% to 10.45%|
|Union Bank of India||10.25%||UCO Bank||10.20%|
|Punjab National Bank||10.25%||OBC||10.25%|