Housing Loan
A housing loan can help eligible borrowers finance the purchase, construction, extension or improvement of a residential property.
Make Your Home Ownership Plan Easier
Before applying for a home loan, it is important to understand eligibility, required documents, interest rate, tenure, EMI and the overall cost of borrowing.
- Home purchase finance
- Residential property construction finance
- Home extension and improvement options
- Flexible repayment planning, subject to lender terms
- Property and applicant verification as applicable
Types of Housing Loan
Choose the housing finance option according to your property requirement.
Home Purchase
Finance for purchasing an eligible house or residential flat.
Construction
Housing finance for eligible residential construction projects.
Home Improvement
Finance for eligible renovation, repair or improvement needs.
Balance Transfer
Eligible borrowers may explore transfer of an existing home loan.
Housing Loan Eligibility
Eligibility depends on the lender's current policy and the applicant's financial and property profile.
Age
Applicant age and proposed loan tenure are considered during assessment.
Income & Repayment Capacity
Income, existing financial obligations and repayment capacity may affect eligibility.
Credit Profile
Credit history and other financial information may be considered.
Employment / Business Profile
Salaried and self-employed applicants may be assessed according to applicable criteria.
Property Details
Property documents, legal checks and valuation may be required.
Loan Tenure
The selected tenure influences the EMI and total repayment cost.
Documents Required
The exact document list can vary depending on the applicant, property and loan type.
- Identity proof
- Address proof
- Date-of-birth / age proof
- Income and employment/business documents
- Recent bank statements, where required
- Property-related documents
- Photographs and completed application forms
Housing Loan EMI Planning
EMI generally depends on the loan amount, applicable interest rate and repayment tenure.
Plan Your Monthly Repayment
A lower EMI may result from a longer tenure, but a longer tenure can increase the total interest paid. Compare both monthly affordability and total repayment before choosing the tenure.
Amount borrowed
Applicable rate
Repayment period
How to Apply for a Housing Loan
01
Check Eligibility
Review your income, obligations, credit profile and property requirement.
02
Prepare Documents
Keep personal, income and property documents ready.
03
Submit Application
Submit the application through the applicable housing-finance channel.
04
Verification
Complete applicant and property verification as required.
Important Things to Check
- Applicable interest rate and whether it can change
- Processing and other applicable charges
- Loan tenure and total repayment amount
- Prepayment / foreclosure conditions applicable to the loan
- Property legal and technical requirements
- All terms mentioned in the sanction letter and loan agreement
Need Help Understanding a Housing Loan?
Discuss your requirement and understand the application process.
Contact UsFrequently Asked Questions
Important Note
Housing loan eligibility, interest rates, loan amount, tenure, charges, documentation and other terms are subject to the current policies and assessment of the relevant housing-finance provider. Verify the latest official terms before making a financial decision.