About Home Loan
Home Loan is the obvious choice if you need a finance for Flat Purchase, House Purchase, Villa Purchase, Plot Purchase, House Construction, and Interior Design.
Owning a House Property in India is a Dream for many, and it involves proper financial planning and assistance. We, as a Loanzmitra make the process Simplify and Door Step Service.
With our expertise of services and extensive industry expereince, we will assist you the best possible Home Loan based on your requirement and profile.
Home loan Benefits with LoanzMitra
- Simplified Documentation
- Door Step Service
- Transparent in Processing
- Competitive Pricing
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Type of Properties for Home Loan
The Home Loan will be provided only for the below kind of Katha's.
For any Home Loan, whether it is Purchase or Construction Katha Certificate is must and the ROI will be vary based on the Katha.
BDA, BBMP, BIAPPA, BMRDA
All the above said properties are approved by the State Govts., and these are fall under 'A' Katha. These properties have a better ROI from all Leading Nationalized, Private Banks and NBFCs
'B' Katha
These properties are either Converted to Residential neither Non-Converted but fall under the BDA or BBMP limits. The ROI will be little higher compare to 'A' Katha and very few Banks will provide the Home Loan
'E' Katha
These properties are Converted to Residential but fall under BMRDA limits. The ROI will be little higher compare to 'A' Katha and very few Banks will provide the Home Loan
Panchayat Katha or Gramtana Katha
These properties are Non-Converted to Residential but fall under BMRDA limits or in Panchyat Limits. The ROI will be higher compare to other Kathas and only limited Banks will provide the Home Loan
Eligibility Criteria for Home Loan
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a Home Loan.
Any individual who have proper Financial Documents like Bank Statement, Income Tax retruns are eligible for Home Loan
Age
Maximum age of applicant at loan maturity: 60 years
Income
Minimum Net Monthly Income: Rs 40,000
Credit Rating
Applicant should have the bank specified credit score.
Check Eligibility
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Documentation
The following documents are required along with your Home Loan application:
| KYC Documents |
Property Documents |
| Personal Identity proof (Copy of PAN Card) |
Mother Deed |
| Home Address proof (Copy of Aadhaar Card) |
Sale Deeds |
| Bank Statement of past 12 Months |
Sale Agreement |
| Past 6 Months Pay Slip |
EC from past 30 Years |
| Last 2 Years ITR with Form-16 |
Katha Certificate |
| Company Appointment Letter |
Tax Paid Receipts |
| Recent Hike Letter |
Building / Floor / Flat / Layout Plan |
| Company ID Card |
|
Fees and charges
Each Bank's and NBFCs have different charges for Loan Application based on the customer profile and requirements:
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Types of fees
Charges applicable
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Rate of interest
Starts from 8.75%
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Processing fees
Starts from Rs. 10,000/- to 1.00% of Loan Amount
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Insurance
Depends on the Customer Profile
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
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Frequently Asked Questions
We are almost ready with your Frequently Asked Questions. Already we answered all question please check below may i will help to you.
Banks will determine your Home Loan Eligibility based on your income and other factors like age, additional income, assets & liabilities, savings, FDs and other financial factors.
EMI refers to the ‘Equated Monthly Installment’, where you pay the amount to Banks on a specific date of every month till your loan is repaid in full. The EMI comprises of the principal and interest components which are structured based on number of months you took the Loan.
Generally, Bank offers various modes for repayment of your loan. Like ECS (Electronic Clearing System), it directly deduct from your Savings Account which you given at the begining stage of Loan.
Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. For more information, please consult your CA/Auditor / Tax Practitioner.
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