Home Loan
A home loan is a secured loan from a financial institution to buy a residential property. You can avail a home loan to buy a ready-to-move-in house, apartment, or one under construction. Home loans can be availed from both banks and Non-Banking Financial Companies (NBFCs).
Home Loan eligibility criteria
| Home Loan Eligibility Criteria | |
|---|---|
| Age |
Minimum Age: 18 yrs. Maximum Age: 70 yrs. |
| Resident Type |
The applicant must be (anyone):
|
| Employment |
The applicant can be (anyone):
|
| Net Annual Income | At least Rs.5-6 lakh depending on the type of employment |
| Residence Area Stability |
The applicant must have (anyone):
|
| Credit | A good credit score of at least 750 or more obtained from a recognised credit bureau |