Home Loan in Chennai

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Home Loan in Chennai

When it comes to choosing a home loan major effort is required at the initial stages to understand all the features of the loan before applying for one. Now with the help of Finance Buddha, applying for home loan in Chennai is very simple and user-friendly. Make use of this information to pick the best bank provides great offers for home loan in Chennai.

Best Home Loan Offers in Chennai – Oct 2016:

Viriksha, Chennai pre-approved with Axis Bank for home loans:

  • Home loan options starting @9.30% from multiple banks in India
  • Pre-approved offers with discounted interest rates and processing fees; legal, technical charges waived off
  • Offer available for both new loan and takeover of existing loan
  • Flexi Home credit interest saver facility available in select cases - pay interest on net difference on your loan outstanding and bank balance
  • Doorstep service, 100% confidentiality

How Finance Buddha can help you get a Home Loan in Chennai?

Home loan is generally taken for either a full constructed house or for yet to construct or under-construction property. According to the needs of the individual the loan specifications and details will vary. Finance Buddha has this information which will help every applicant to get the loan approved faster. You can even check your eligibility through Finance Buddha before applying for a loan. If you directly apply to the bank without checking eligibility and if the loan gets rejected due to some reason, then it will directly impact the CIBIL scoring of the applicant.

Home Loan Eligibility Criteria in Chennai

  • Age at least 18 and less than 60
  • Salaried / Self - Employed with regular income. Earn more than the minimum income required.
  • The applicant must be an Indian citizen or a fully documented NRI. Essentially, a Person of Indian Origin (PIO)
  • The applicant must be an Indian resident or non-resident and above 18 years of age.
  • The applicant must have a regular source of income
  • Upon maturity of the loan, the applicants' age must be less than the age of retirement if he is salaried and below 65 years if the applicant is self-employed
  • The total deductions of the loan EMI (including that of the proposed loan) should not exceed 60% of the gross income
  • He/she must have a good credit history, with no obvious red flags
  • Women's Special!
  • Continuity and stability of income

 

Home Loan Documents Required in Chennai

List of papers / documents applicable to all applicants:

  • Completed Home loan application
  • 3 passport size photographs (including those affixed in loan application)
  • Proof of identification: Electoral ID Card / Passport / Driving License / PAN card.
  • Proof of residence: Electoral ID Card / Passport / Electricity Bill / Telephone Bill.
  • Proof business address, in case of non- salaried borrowers
  • Statement of bank account for the last six months
  • Signature identification from present bankers
  • Personal Assets and Liabilities Statements in Bank’s standard format.
  • Brief write up of securities charged in respect of other loans availed from our Bank/other
  • Banks/ Auto & Housing Loan Companies /other sources.

Home Loan Interest Rates, Fees & Charges in Chennai

Latest Interest Rates on Home Loans in Chennai 2016

Bank Name

Interest Rate

HDFC LTD

9.40% – 9.45%

ICICI Bank

9.40% – 9.45%

SBI

9.25% – 9.30%

PNB Housing

9.55% – 9.85%

Axis Bank

9.45% – 9.75%

LIC Housing

9.50%

Fed Bank

9.57% – 9.82%

PNB Home Loan

9.40% – 9.90%

IDBI Home Loan

9.45%

DHFL Home Loan

9.55%

Indiabulls Home Loan

9.40% – 10.25%

Union Bank

9.55% – 9.60%

Indian Bank

9.55% – 9.75%

Frequently Asked Questions