Home Loan in Delhi

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Home Loan in Delhi

Getting a home loan in Delhi is now very easy and quick with the help of Finance Buddha. There is no guarantee that everyone will get a home loan but if you meet all the eligibility criteria and submit all documentations then there is 90% chance of getting the loan approved without any further complications.

Best Home Loan Offers in Delhi – Oct 2016:

Interest rates for the month of October 2016

Interest rate offered is the primary factor of comparison. It affects your monthly EMI and total amount payable. For a long duration loan it is advised to go for a loan with low interest rate.

Bank

Interest Rate

SBI

9.25%(For Women) – 9.30%(For Others)

DHFL

9.35%

HDFC Ltd

9.30%(For Women) – 9.35%(For Others)

LIC Housing

9.30%(For Govt. Employees) – 9.40% – 9.50%(For Others)

ICICI Bank

9.30%(For Women) – 9.35%(For Others)

Axis Bank

9.45% – 9.50%

IDBI Bank

9.45%

PNB

9.40%

Allahabad Bank

9.55%

Citibank

9.30% – 9.50%

Syndicate Bank

9.45%

Canara Bank

9.55% – 9.65%

Bank of India

9.40%

Bank of Baroda

9.35%

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

Getting a home loan from Finance Buddha is very easy. You simply have to fill the application form and submit post which the list of banks for applying loan will be shared with you. This can be compared and the applicant can choose the best one that suits your requirements. Apart from these, it is the responsibility of the applicant to make sure all the documents submitted are valid, accurate and up-to-date.

Home Loan Eligibility Criteria in New Delhi

 Criteria

Salaried

Self Employed

Who is Eligible

People in permanent service in public or private sector.

Self-employed Business - men, doctors, engineers, dentists, architects, CA, CS, consultants, lawyers

Loan Amount

Determined by income, current debt, age, retirement age, number of co-borrowers, maximum loan to value, etc.

Determined by income, current debt, age, retirement age, number of co-borrowers, maximum loan to value, etc.

Borrower Age at Time of Sanction

Between 21 and 60 (or age of requirement, if lower)

Between 21 and 65

Borrower Age at Time of Maturity

Upto 60 (or age of requirement, if lower)

Upto 65

CIBIL Score, Credit History

Typically, a clean CIBIL record with a score above 700 is desirable

Typically, a clean CIBIL record with a score above 700 is desirable

Minimum Income

Some banks specify minimum income to be eligible for loans

Some banks specify minimum income to be eligible for loans

Employment Track Record

Typical requirement of at least 2 years in permanent employment and at least 1 year in current organization, but this varies on a case to case and bank to bank basis.

At least 2 years in the same profession with ITR filed

Balance Transfer

Minimum 12-18 months’ track record of regular repayment of existing loan

Minimum 12-18 months’ track record of regular repayment of existing loan

Home Loan Documents Required in New Delhi

Some of the common documents required for home loan in Delhi are listed below. These are basic and common documents required from all applicants.

Salaried

Self-employed

1) Application form with photograph

1) Application form with photograph

2) Identity & residence proof

2) Identity & residence proof

3) Last 3 months’ salary slip 

3) Education qualifications certificate & proof of business existence

4) Form 16

4) Business profile,

5) Last 6 months bank salaried credit statements

5) Last 3 years profit/loss & balance sheet

6) Processing fee cheque

6) Last 6 months bank statements

 

7) Processing fee cheque

List of papers / documents applicable to all applicants in Delhi:

  • 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 New Delhi

Delhi Banks

Lowest Interest Rate (%)

Tenure in Years

Lowest EMI Per Lakhs

SBI

9.25% Floating

30 years

Rs. 823

ICICI Bank

9.3% Floating

30 years

Rs. 826

Axis Bank

9.35% Floating

30 years

Rs. 830

HDFC

9.4% Floating

30 years

Rs. 834

IDBI Bank

9.45% Floating

30 years

Rs. 837

Citibank

9.3% Floating

25 years

Rs. 860

DBS Bank

9.2% Floating

20 years

Rs. 913

PNB Housing Finance

9.45% Floating

30 years

Rs. 837

Indiabulls

9.4% Floating

30 years

Rs. 834

DHFL

9.55% Floating

30 years

Rs. 845

 

Banks

ICICI Bank

HDFC Ltd

AXIS Bank

Rate of Interest

9.40% - 9.45%

9.40% - 9.45%

9.40% - 11.00%

Processing Fee

0.50% of loan amount upto 1 crore

0.5% or maximum 10,000+service tax (14.5%)

1500 Flat with MLI

Prepayment Charges

N.A

Nil

Nil

Frequently Asked Questions