A Guide To Home Loan 

1. Where can I get a Home Loan? 
2. What are the institutions that provide Home Loans? 

        You can apply for  Home Loans to the following recognized Institutions :

• HDFC 
• ICICI 
• LIC Home Finance 
• GIC Home Finance 
• IDBI 
• Standard Chartered Grindlays 
• HSBC 
• CITI Bank 
• SBI Home Finance 

3. Who can be a co-applicant for the loan?

        You can include your spouse as a co-applicant for the home loan and we shall include his/her income to enhance your loan amount. Further, in case there are any other co-owners, they also need to be co-applicants.

4. Over what period can I repay the loan ?

        You have the option of selecting a term you are comfortable with, up to 30 years. The term does not extend beyond retirement age or on your reaching 65 years of age whichever is earlier.

5. How do I repay the Home Loan?

        The home loan repayment is by Equated Monthly Installments (EMIs) comprising of interest and principal amount calculated on annual rests. EMIs can be paid by Post Dated Cheques or being directly deducted from your salary.

        In case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called Pre-EMI interest and is payable monthly till the final disbursement is made, after which the EMIs would commence.

6. What is the security for the loan?

        You need to provide security of the property and/or such other additional /collateral security as may be mutually agreed. 

7. What does it take to get a loan sanctioned?

        Most of the Housing Finance Institutions. (HFIs) are giving services at your Doorstep. All you have to do is to give a call and present the proof of your income, employment, balance sheet and other related papers and the loan is sanctioned quickly sanctioned.

8. What documents are required to get the loan sanctioned?

        Our representative will discuss the documents you are required to submit in detail. An indicative list is given below:

        Passport size photograph of all applicants 
        Residence and age verification, Which may be established from the PAN card, election ID ,passport, driving license and ration card. 
        Bank statements for the last six months. 
        Latest salary slip/ statements showing all deductions in case of employed applicants. 
        Certified copies of Balance sheets and profit and loss accounts., IT acknowledgement, advance tax challans ( for both company/ firm and personal account ) for the last three years in case of self employed applicants. 
        Memorandum / Articles of association for companies, partnership deeds for firms and a brief profile of your company /firm in case of self employed applicants.