Getting a house or an apartment of your own matters a lot to you. But, saving money to buy or construct your dream home is neither sufficient nor a practical option for that. And for that, home loans will always have your back. One of the significant benefits of home loans is that you can get the tax deduction facilities issued by the Government of India. Apart from that, you can get up to 30 years of tenure to repay your home loan.
A home loan can be of different types like a home construction loan, plot loan, housing loan, property loan, etc. that depends on your requirements and home loan eligibility. And MyFinPartner is always there to assist you the get the best online home loan at a lucrative home loan interest.
As there are multiple types of home loans available in the market, they attract several benefits or advantages for the borrower:
To be a potential borrower, you need to meet the following eligibility requirements.
Criteria | Eligibility |
---|---|
Residential Status | Indian, NRI, PIO (Person of Indian Origin). |
Employment | Salaried/ Self-occupied |
Annual Income | Minimum 6lakhs p.a. |
Credit Score | 750 or more. |
Current Residence | A permanent residence/ rented residence (at least 1 year of tenancy required before you apply for home loan online) |
Irrespective of the type of home loans you applied for, your residential status and employment type will decide the documents to prove your eligibility. However, you must produce four to five basic types of proofs, such as:-
Criteria | Eligibility |
---|---|
Proof of your identity | PAN/ Passport/ Voter ID/ Driving License |
Proof of your residential status | Electricity bill/ telephone bill/ Aadhaar card/ etc |
Proof of your employment | Employment details. |
Proof of your income | Salary slips/ salary statement/ IT returns/ work permit/ etc. |
Apart from these, you may also need to show bank statements, loan account statements, PIO card, TDS certificate, audited balance sheet, property papers, and much more.
In India, there are some significant types of home loans or housing loans that banks offer at convenient home loan interest rate, such as:-
However, the types of home loans may vary from bank to bank.
To apply for a home or housing loan, you need to keep the following things in mind.
However, the types of home loans may vary from bank to bank.
Deduction for home loan is an important matter of 2021 budget. The
The new normal has pushed us to avail of more online facilities to
Home loans are some of the most beneficial credit services that