You can avail a Home Loan if you are :-

Resident Indian
n A minimum of 21 years of age.
n Employed or self employed with regular income.

Non-Resident Indian
n Above 25 year of age.
n Holding a valid Indian passport. 
n A salaried individual.

Back to the Top

3. Can Home Loan Companies assist me in selecting an accommodation of my choice? 

• Most of the Home Loan Companies provides the customer assistance in identifying a property that fulfills your requirements from a vast database of properties, arranges for site visits to the properties shortlisted by you, and helps with legal documentation.

Back to the Top

4. List of Housing Finance Institutions (HFIs) are as follows:-

• Housing Development Finance Corporation Ltd (HDFC)
Industrial Credit Investment Corporation of India (ICICI)
Life Insurance Corporation (LIC Home Finance)
General Insurance Corporation (GIC Home Finance)
Industrial Development Bank of India (IDBI)
Standard Chartered Bank
Honkong & Shanghai Banking Corporation (HSBC)
CITI Bank
State Bank of India (SBI Home Finance)
HUDCO
The Oriental Bank of Commerce
Kotak Mahindra Bank
Corporation Bank
Canara Bank

Back to the Top

5. What is the maximmum amount I can borrow  

• You can borrow upto 85% of the Agreement value or the cost of construction as applicable depending upon the repayment capacity as determined by the financial institutions.

6. How will my Loan eligibility be determined? 

• Your repayment capacity will decide how much you can borrow. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, savings history and stability and continuity of occupation.

7. Who can be a Co-applicant for the loan? 

• You could include your spouse, or someone in your blood relation as a co-applicant for the home loan and financial institution may include his/her income to enhance your loan amount.

Back to the Top

[1] [2] [3]