Home Loan
Apply for Home Loan at lowest interest, check eligibility criteria, list of documents and other important things related to Home Loans only at PremierCapitalAdvisor.com
| Interest Rate: | 8.65% - 9% |
| Processing Fees: | 0-2.00% of the loan amount + GST |
| Pre-Payment charges: | Nil for floating |
| Repayment Period: | 3 to 30 years |
| Part payment facility: | Yes, all banks |
Buying a home is a dream for many Indians. It is an investment that not only provides shelter but also gives a sense of security and accomplishment. However, with rising real estate prices, it can be difficult to purchase a home without taking out a home loan. This is where Premier Capital Advisor comes in to help you choose the best home loan available.
At Premier Capital Advisor, we understand that purchasing a home is a significant investment. That’s why we provide a wide range of home loan options that cater to your needs. We believe that every customer is unique and has different requirements, which is why we offer customised home loan solutions that suit your financial situation.
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Learn More About Home Loan
Applying for a home loan is an important step towards fulfilling your dream of owning a home.
At Premier Capital Advisor, we understand the significance of this milestone and strive to make the home loan application process smooth and transparent for our customers. To ensure that you meet the eligibility criteria for a home loan, we have outlined the key requirements below.
Age Criteria:
- You should be at least 21 years old at the time of applying for a home loan.
- The maximum age limit varies between lenders but is generally set at 65 years or retirement age, whichever is earlier. Some lenders may consider extending this limit on a case-by-case basis.
Employment Stability and Income:
- Self-Employed Individuals: If you are self-employed, you should have a stable business with a track record of profitability for a minimum of 2-3 years. This may include professionals such as doctors, architects, chartered accountants, or business owners.
- The maximum age limit varies between lenders but is generally set at 65 years or retirement age, whichever is earlier. Some lenders may consider extending this limit on a case-by-case basis.
Minimum Income
- Salaried Individuals: Lenders generally require a minimum monthly income, typically starting from INR 25,000 to INR 50,000, depending on the city and the lender's policies.
- Self-Employed Individuals: For self-employed individuals, the minimum income requirement may vary based on the nature and size of the business. Lenders typically consider the income as reflected in the audited financial statements or income tax returns.
Credit Score
- A good credit score is crucial for loan approval. Most lenders prefer a credit score of 700 or above. A higher credit score indicates a strong credit history, which increases the chances of loan approval and may also result in favourable interest rates.
Property-related Criteria
- The property you plan to purchase or construct should be located within the approved jurisdiction of the lender.
- The property should have clear and marketable title deeds.
- The lender may have specific guidelines regarding the type, age, and condition of the property.
Down Payment:
- While the exact down payment requirement varies based on the lender and the loan amount, generally, borrowers are expected to contribute a certain percentage of the property's value as a down payment. This can range from 10% to 30% of the property value.
These eligibility criteria serve as general guidelines, and lenders may have their specific requirements and policies. At PCA, we understand that each borrower’s situation is unique, and our team of loan experts is here to assist you in finding the best home loan option tailored to your needs.
To determine your eligibility and to learn more about our home loan offerings, we encourage you to get in touch with our experienced loan officers or use our online eligibility calculator and application process, which will provide you with personalised information based on your specific details.
Disclaimer: The eligibility criteria mentioned above are subject to change and may vary between lenders. We recommend contacting our loan officers or visiting our website for the most up-to-date information.
Own your dream home with Premier Capital Advisor – Your Trusted Partner in Home Loans.
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
Documents Required for Applying for a Home Loan in India:
Application Form: Fill out the home loan application form with accurate details.
Identity Proof:
- Aadhaar Card
- Passport
- Voter ID Card
- Driving Licence
- PAN Card
Address Proof:
- Aadhaar Card
- Passport
- Voter ID Card
- Driving Licence
- Utility bills (electricity bill, water bill, etc.)
- Bank statements with address
Income Proof:
- Salary slips for the last 3 to 6 months
- Form 16 or Income Tax Returns (ITR) for the last 2 to 3 years
- Bank statements for the last 6 months
- Profit and Loss Statement and Balance Sheet for self-employed individuals
- Business proof (GST registration, partnership deed, etc.) for self-employed individuals
Employment Proof:
- Offer letter from the current employer
- Employment contract
- Salary revision letter (if applicable)
- Experience certificates (if applicable)
Property Documents:
- Sale agreement
- Title deeds
- Property tax receipts
- Approved building plan
- Encumbrance certificate
- NOC from the housing society/building society
- Allotment letter from the builder/development authority
Bank Statements:
- Bank statements for the last 6 months, showing salary credits and other transactions
- If you have an existing loan, provide statements for that as well
Photographs:
- Recent passport-sized photographs
Additional Documents:
- List of existing loans and their repayment track record
- Power of Attorney (if applicable)
Co-applicant Documents:
- Identity proof
- Address proof
- Income proof
- Employment proof
- Photographs