Make Your Homeownership Dream a Reality!
Find the perfect home loan with minimal documentation and lower interest rates from leading banks.
Home Loan Features
Attractive Interest Rates
Minimal Documentation
Up to 30 Years 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.
Home Construction Loan
If you have a plot of land and lack financial support to construct a home, this loan helps build or repair a major part of your home.
Home Extension Loan
Should you already own a home and wish to extend it, add an annexe, or build another floor, this option finances such needs.
Home Improvement Loan
All of us wish to improve and upgrade our homes for a better life. From old furniture to faulty lighting, this loan funds all your plans.
NRI Home Loan
If you are a Non-Resident Indian and wish to own residential property in India, the NRI Home Loan is your answer. Formalities may differ slightly.
Home Loan Eligibility and Documents
Read on to know the criteria required to apply for our Home Loan.
Home Loan Eligibility Criteria:
- 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
1. Salaried Individuals
- Form 16
- Employee Identity Card
- 3 Months Salary Slip
- 6 Month Bank Account Statement
- Duration of Employment Evidence
2. Self-Employed Individuals
- PAN
- Trade License
- Partnership Deed
- Article of Association
- Memorandum of Association
- Import Export Code
- SEBI Registration Certificate
- ROC Registration Certificate
- Financial Statement Audited by CA
- Profit & Loss Account Statement
- Balance Sheet
- 6 Months Bank Account Statement
- Professional Practice License for Doctors, Consultants, etc
- Registration Certificate of Establishment for Shops, Factories, and Other Establishments
- Business Address Proof
3. 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 (NOC)
- 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
- In case 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.
Our 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.
Calculate Your EMI
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 | 0.25% to 2% of Loan Amount |
| Loan Cancellation | Nil - 5% (according to Bank/NBFC) |
| Stamp Duty Charges | As per the Value of the Property and State Tax |
| Legal Fees | As per actual |
| Penal Charges | Usually 2% per month |
| EMI / Cheque Bounce Charges | Approx 500/- |
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
SAMYAK SANCHETI
"I was going through a low in my business and was unable to get financial support from lenders. Under these circumstances, Sahil from RULOANS 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."
ROHAN GAIKWAD
"I took a Home Loan for 20,00,000 from SBI via Khatabook loan. 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 Khatabook loan for the best home loan options."
JITENDRA SINGH
"I got home loan offer from HDFC Limited through Khatabook loan. Earlier I was choosing some other bank but Khatabook loan 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."
MANOJ JADHAV
"First, I used RULOANS 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."
Home Loan FAQs
A home loan is a loan used to buy a home. It is repaid over 15 to 30 years and is secured by the property being purchased. If the borrower fails to repay, the lender can take possession of the property.
To qualify for a home loan, you typically need a good credit score (usually above 620), a steady income, and a low debt-to-income ratio. Lenders also consider your employment history. If you meet all of the lenders' parameters then you are eligible for a home loan.
Yes, you can usually prepay your home loan in two ways such as full prepayment and part prepayment. If you have the remaining principal amount available, you can fully pay the amount and close the loan or the payment also can be made in parts and the principal will be reduced by the same amount.
No, it is not possible to secure 100% loan from the bank. However, banks provide up to 90-95% of the agreement value.
The maximum home loan that you can get is not capped by any amount but it is given on the basis of the agreement value and also the borrower's income eligibility and credit history. Generally, banks provide 90-95% of the agreement value.
Salaried professionals applying for a home loan need to provide proof of identity, address, and income, along with employment proof, professional certificate, income tax returns, property documents, bank statements.
Yes, you can apply for a home loan jointly with a friend or family member. Lenders generally allow spouses, parents, siblings, or any other close relatives to be joint applicants for a home loan. Some lenders may also allow unrelated individuals to apply together, provided they meet the lender's eligibility criteria. However, it's important to note that all co-owners of the property must also be co-applicants for the loan.
Joint borrowers for a home loan can include family members, spouses, or any two individuals willing to take joint responsibility for repaying the loan. Lenders typically require all co-owners of the property to be co-borrowers on the loan. Having a joint borrower can help increase the loan eligibility, as the income and creditworthiness of both borrowers are considered. It's important for joint borrowers to understand that they are equally responsible for repaying the loan, and any default can affect both borrowers' credit scores.
Detailed features coming soon!