Home Loan Vizag

Home loan is the easiest way to gather money for your house. You no need to wait more time or request others for money. Just apply for Home Loan Vizag and avail finance up to 80% of the value of the home from the lender. This loan can be used for buy a new home or property, home repair. The sanctioned loan amount will be depends on your credit score, age, and employment type. This is a secured loan which considers your asset as collateral and the lender has a right to take the borrower’s property when he didn’t pay the loan at a specific time.

Eligibility Criteria: Home Loan in Vizag

To get a home loan, there are some eligibility criteria that you have to be fulfilled. The following are the common eligibility criteria across all lenders:

Age: Applicant’s age should be between 18 to 70 years old but no more than 70 years old at the time of loan maturity.

Annual Income: A minimum of Rs. 5 lakhs is required.

Employment Type: Applicant should be employed in any company or any self employed individual.

Residence: Own residence or rented residence but he/ she should be resided in the same residence for at least 1 year.

Credit Score: A good credit score should be required to get a loan.

Documents Required for Home Loan in Visakhapatnam

In order to get a home loan, an applicant should provide required documents to the lender. The following are general documents that you need to provide:

  • Filled application form with photographs

  • Identity Proof: Aadhar card/ Driving License/ Passport/ Voter ID

  • Income Proof: Last 3 months salary slips and Form 16 or IT returns for applicants who are working with a business or an organization. Last 3 years IT returns and income computation of the same period along with a balance sheet mentioning profit & loss, audited by CA/ CS for self employed Individuals.

  • Other Documents: Processing fee by cheque or draft, bank statement which shows ongoing loans, photos of co-applicants and all loan applicants.

Features of Home Loan

  • Quick and transparent processing

  • Home loan balance transfer

  • Pre approved home loans

  • Provide home loan insurance to help your family members

  • Flexible interest rates

Home Loan Details

Particulars Details
Rate of Interest 8.60% - 14.00%
Loan Tenure 1 to 30 years
Prepayment Charges Nil
Processing Fee 0% to 1.25% of the loan amount

Top Banks and NBFCs for Home Loan in Vizag at LoanOnMind