How To Get a Home Loan From Bank
How To Get a Home Loan From Bank – A home loan is the type of loan which helps in buying or purchasing a property. Due to a big amount of loan banks provides home loan with an interest rate based on their fixed rates. There”s mainly two types of loans a home loan and another is mortgage. The home loan is provided with an interest rate in the form of EMI (Equated Monthly Installment). EMI comes in parts of amounts of a large amount of a loan.
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Procedure To Get A Home Loan from Bank
- Select A Suitable Bank For Loan
- Fill out The Loan Application Form & Attach The Documents
- Pay The Processing Fee
- Discussion With The Bank
- Valuation Of The Documents
- The Sanction/Approval Process
- Processing The Offer Letter
- Processing The Property Papers Followed By A Legal Check
- Processing A Technical Check & The Site Estimation
- The Final Loan Deal
- Signing The Agreement
- The Loan Disbursal
Documents Required For The Home Loan
- Latest salary slips/ Proofs of income
- Bank Account statement for the last 3 to 6 months
- Pan Card, Aadhar Card, and Proof of Address
- Documents about the property being purchased
Best Banks/HFCs ROI To Get A Home Loan from Bank
| Name of Lender | Interest Rates (% p.a.) | ||
| Up to Rs 30 Lakh | Above Rs 30 Lakh & up to Rs 75 Lakh | Above Rs 75 Lakh | |
| State Bank of India | 8.05-9.05 | 8.05-8.95 | |
| HDFC | 8.10-9.50 | 8.35-9.75 | |
| ICICI Bank | 8.10-9.00 | 8.10-9.00 | |
| Kotak Mahindra Bank | 7.99 onwards | 7.99 onwards | |
| Punjab National Bank | 7.95-9.35 | 7.95-9.35 | |
| Bank of Baroda | 7.95-9.45 | 7.95-9.45 | |
| Union Bank of India | 7.90-9.65 | 7.90-9.85 | |
| IDFC First Bank | 7.95 onwards | 7.95 onwards | |
| Federal Bank | 9.05-9.10 | 9.10-9.15 | |
| Indian Bank | 7.90-8.95 | 7.90-8.95 |
Conclusion:
Research for the banks offering the cheapest home loan. Read the bank’s eligibility criteria carefully before entering the procedure to take a home loan. Keep all the ID proofs, address proofs, employment proofs, and other details handy. With the bank representative ensure to carry the original documents. The interest rates are negotiable. So, always use this opportunity for the best. There is a separate fee for processing the loan, reality check, site estimation, and other administrative work. Do not skip any stage during the valuation and verification process. Read every loan document carefully before signing. Once the loan is sanctioned, the original property papers are handed over to the bank. It usually takes about two weeks to complete the process of a home loan, provided that the documents submitted by the applicant are valid.
Contact Us For More Details – Shagun Properties
Shagun Properties team is cooperative and easy to work with. They will Guide You in Every Step of Buying and Selling a Home. The team is Always Quick and keeps everyone Up To Date. With the property process to get their Own Home. Shagun Properties has maintained a level of trust. In terms of effective communication and a healthy approach to its existing and expected c. It’s every step will be on the way to making a strong relationship with customers. For good management, their business relationship quietly is one based on trust and honesty.
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Tips: To book your home don’t forget to Carry Rs.10,000/- For Booking cheque.
3 months salary slip/3 years income tax returns.
6 months bank statement along with you.
Available subsidy of Rs.2.67 Lacs under “Pradhan Mantri Aawas Yojana.”
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Above listed all the properties are low in budget. With full of amenities and various features. Most of the above properties are near to railway station. With accessible places like schools, hospitals, the metro, markets, temples, malls, hospitals, banks, ATMs, and many more. Above Properties has 1 Rk, 2Rk, 1Bhk, 2Bhk, and 3Bhk with more choice. All above properties are ready to move properties. You can contact us anytime and Get your home in a few steps. Shagun Properties is the Best & Fast in Real Estate services. Shagun Properties team is helpful and easy to work with. They will Guide You in Every Step of Buying and Selling a Home.
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