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Period Payment Interest Balance

Home Loan Features

  • Attractive Interest Rates
  • Minimal Documentation
  • 30 Years of Tenure

Features and Benefits of our Home Loan

A vast array of institutions offer you the best home loan rates at the most competitive rates and affordable EMIs.
1.
Home Construction Loan :

If you have a plot of land and lack financial support to construct a home on that piece of property, you may choose a house construction loan. Such borrowing is mainly made to construct or repair a major part of your home.

2.
Home Extension Loan :

Should you already own a home, and feel the need to extend the building, add an annexe, or build another floor, etc., Home Extension Loan is your go-to option that finances such needs.

3.
Home Improvement Loan :

All of us wish to improve and upgrade our homes for a better life. From your old-age furniture, fixtures to faulty lightning systems, Home Improvement Loan funds all your plans.

4.
NRI Home Loan :

If you are a patriot, a Non-Resident Indian, and wish to own residential property in India, NRI Home Loan is your answer. Though the formalities for application may be a little different.

Home Loan Eligibility and Documents

Read on to know the criteria required to apply for our Home Loan.
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Home Loan Eligibility

The basic home loan eligibility criteria are as follows :

Age :

  • You must be above 21 years of age at the time of the commencing of your loan, and up to 65 years or less at loan maturity
  • Salaried Person - 21 years to 58 years
  • Self-Employed Person - 25 years to 65 years

Income :

  • Salaried Person - Minimum Rs. 10,000 per month
  • Self-Employed Person - Minimum Rs. 2,00,000 per year

Employment :

  • Salaried Person - Minimum 2 to 3 years of Experience in MNC, or a Private or Public Limited Company
  • Self-Employed Person - Minimum 3 years of Experience in the current field

Credit Score :

  • A credit score of 750 is considered a good score for approval.

Documentation for Home Loan

Income Proof Documents :
Salaried Individuals :

  • Form 16
  • Employee Identity Card
  • 3 Months Salary Slip
  • 6 Month Bank Account Statement
  • Duration of Employment Evidence

Self-Employed Individuals

  • One Photo, Pan Card, Aadhar Card, Shop Establishment Certificate and Udhyam Registration
  • Residence Proof (Electricity Bill, Passport, Driving License, Telephone Bill, Ration Card, Election Card & Any Other Certificate from Statutory Authority
  • Last 3 Years Income Tax Returns (Self & Income Tax Returns (Self & Business) With Profit & Loss Account & Balance Sheets Duly Certified /Audited by a Chartered Accountant) 
  • Last 12 Months Bank Account Statements (Self & Business)
  • Last 12 Months GST 3B
  • Required all running loan details.
  • Account number from which EMI debited.
  • CC/OD Amount and Sanction letter.
  • Repayment Schedule of all running loans.

Proprietorship

  • One Photo, Pan Card, Aadhar Card, GST Certificate and Udhyam Registration
  • Residence Proof (Electricity Bill, Passport, Driving License, Telephone Bill, Ration Card, Election Card & Any Other Certificate from Statutory Authority
  • Last 3 Years Income Tax Returns & Computation last 3 years (Self & Income Tax Returns (Self & Business) With Profit & Loss Account & Balance Sheets Duly Certified /Audited by a Chartered Accountant) 
  • Audit report with 3CA 3CB if sales are more than 1 cr.
  • 26 as from also last year.
  • Last 12 Months Bank Account Statements all current account personal savings accounts Months' CC account if any CC limit running.
  • Last 12 Months GST 3B
  • Required all running loan details.
  • Account number from which EMI debited.
  • CC/OD Amount and Sanction letter.
  • Repayment Schedule of all running loans.

Partnership/LLP

  • Firm Pan Card, Partnership Deed, One Photo, Pan Card, Aadhar Card Copy all partners, GST Certificate and Udhyam Registration.
  • Residence Proof, (Electricity Bill, Passport, Driving License, Telephone Bill, Ration Card, Election Card & Any Other Certificate from Statutory Authority
  • Last 3 Years Income Tax Returns & Computation last 3 years (Self & Income Tax Returns (Self & Business) With Profit & Loss Account & Balance Sheets Duly Certified /Audited by a Chartered Accountant) 
  • Audit report with 3CA 3CB if sales are more than 1 cr.
  • 26 as from also last year.
  • Last 12 Months Bank Account Statements all current account personal savings accounts Months' CC account if any CC limit running.
  • Last 12 Months GST 3B
  • Required all running loan details.
  • Account number from which EMI debited.
  • CC/OD Amount and Sanction letter.
  • Repayment Schedule of all running loans.

PVT LTD/LTD Company

  • Company Pan Card, list of present directors CA certified latest, GST Registration, One Photo, Pan Card, Aadhar Card Copy all partners, List of shareholder CA Certified latest, Association of Article (AOA), Memorandum of Article(MOA), Udhyam Registration.
  • Residence Proof, (Electricity Bill, Passport, Driving License, Telephone Bill, Ration Card, Election Card & Any Other Certificate from Statutory Authority
  • Last 3 Years Income Tax Returns & Computation last 3 years (Self & Income Tax Returns (Self & Business) With Profit & Loss Account & Balance Sheets Duly Certified /Audited by a Chartered Accountant) 
  • Audit report with 3CA 3CB if sales are more than 1 cr.
  • 26 as from also last year.
  • Last 12 Months Bank Account Statements all current account personal savings accounts Months' CC account if any CC limit running.
  • Last 12 Months GST 3B
  • Required all running loan details.
  • Account number from which EMI debited.
  • CC/OD Amount and Sanction letter.
  • Repayment Schedule of all running loans.

Society/Trust/Huf

  • Deed of trust/ Society/ Huf, One Photo, Pan Card, Adhar Card Copy of President, Secretary, Treasure, Memorandum of Article(MOA).
  • Residence Proof, (Electricity Bill, Passport, Driving License, Telephone Bill, Ration Card, Election Card & Any Other Certificate from Statutory Authority
  • Last 3 Years Income Tax Returns & Computation last 3 years (Self & Income Tax Returns (Self & Business) With Profit & Loss Account & Balance Sheets Duly Certified /Audited by a Chartered Accountant) 
  • Audit report with 3CA 3CB if sales are more than 1 cr.
  • 26 as from also last year.
  • Last 12 Months Bank Account Statements all current account personal savings accounts Months' CC account if any CC limit running.
  • Last 12 Months GST 3B
  • Required all running loan details.
  • Account number from which EMI debited.
  • CC/OD Amount and Sanction letter.
  • Repayment Schedule of all running loans.

Documents Required from all Non-Resident Indians (NRIs) Applicants :

  • Income Proof Documents for NRI
  • Property Papers
  • Property Documents
  • Sale Deed
  • Stamped Agreement of Sale
  • Allotment Letter
  • No Objection Certificate or NOC
  • Housing Society
  • Builder
  • Possession Certificate
  • Land Tax Receipt
  • Construction Cost Estimate
  • Bank Account Statement of Payment Made to Seller or Builder
  • Payment Receipt of Payment Made to Seller or Builder
  • Incase of resale property share certificate is required
  • Occupancy Certificate

EMI Calculator for Home Loan

The monthly part-payment that you make to repay your Home Loan is known as an Equated Monthly Instalment (EMI). This monthly payment includes repayment of the principal amount of your loan divided over the period of the loan, with the agreed interest amount on the outstanding amount of your home loan.

Ruloans online Home Loan EMI Calculator is essential to make an up-to-date decision to execute your Home Loan Plan at optimum levels. This EMI calculator online aids you to perform complex computing functions to calculate your Home Loan Equated Monthly Instalment accurately in an instant.

Fees and Charges for Home Loan

The fees and charges of home loans usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to home loans :
Particulars
Charges
Loan Processing Fees
0.5% to 4% of Loan Amount
Loan Cancellation
Usually 3000 to 5% of Loan Amount
Stamp Duty Charges
As per the Value of the Property and State Tax
Legal Fees
As per actuals
Penal Charges
Usually 2% per month
EMI / Cheque Bonus
Approx 499/- to 599/-
Other fees and charges that lenders may levy on your personal loan include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap.

Home Loan Reviews

I was going through a low in my business and was unable to get financial support from lenders. Under these circumstances, Sahil from DOLOANS suggested me to apply for a top-up home loan and use that money to fund my business. Thanks to the top-up home loan facility that helped my business to survive even in the odds.

Samyak Sancheti

I took a Home Loan for 20,00,000 from SBI via Doloans. I received a Home loan at a sparkling rate of 6.90%. Being a government employee I was offered low processing fees and other charges were minimal. I am very happy and suggest you check Doloans for the best home loan options.

Rohan Gaikwad

I got home loan offer from HDFC Limited through Doloans. Earlier I was choosing some other bank but Doloans facility of comparison helped me with a better choice.The amount was sufficient with tenure period of 15 years. The rate of interest is moderate. I took this loan to buy an apartment. EMI need to pay 36K. Pre closure is applicable but there is locking period of 6 months. Their service is good.

Jitendra Singh

First, I used DOLOANS emi calculator to check the approximate EMI for a home loan. I found the website very good and then I applied for a home loan with KOTAK bank from here. My loan got approved in 10 days only which is less for a home loan when compared to other home loan providers.

Manoj Jadhav

FAQs

What is a home loan?
A home loan, is a loan provided by a financial institution to help you purchase or refinance a home. It is typically repaid in monthly installments over a specified term.
How do I qualify for a home loan?
Qualification criteria can vary among lenders, but factors such as your credit score, income, employment history, and the property’s value are commonly considered when determining eligibility.
What is loan tenure or term?
Loan tenure refers to the length of time over which you’ll repay your home loan. It can vary but is usually 15, 20, or 30 years. Longer tenures result in lower monthly payments but higher overall interest costs.
What is an EMI?
EMI stands for Equated Monthly Installment, which is the fixed monthly payment you make to repay your home loan. It typically includes both principal and interest portions.
Can I prepay my home loan?
Yes, most home loans allow for prepayment or early repayment. Some loans may have prepayment penalties, so it’s essential to check with your lender.
What happens if I miss an EMI payment?
Missing an EMI payment can result in penalties, increased interest costs, and negatively impact your credit score. It’s crucial to communicate with your lender if you anticipate payment difficulties.

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