1. Home Purchase Loan
This is the most common housing loan, aimed at helping individuals buy a ready-to-move-in or under-construction property. It covers a major part of the property cost, making homeownership easier through manageable EMIs.
| Feature | Details |
|---|---|
| Loan Amount | 75%–90% of the property’s value, depending on lender policy and applicant profile. |
| Interest Rate | Fixed rates for predictable EMIs or floating rates that vary with market trends. |
| Loan Tenure | 5 to 30 years. |
| Eligibility | Steady income, good credit score (700+ preferred), age within working bracket, stable job history. |
| Processing Fee | 0.5%–1% of the loan amount. |
| Why Choose | Tax benefits under Sections 80C and 24(b) of the Income Tax Act on both principal and interest payments. |
2. Home Construction Loan
Designed for borrowers building a house on their own land, this loan is disbursed in stages according to construction progress to ensure funds align with actual expenses.
| Feature | Details |
|---|---|
| Loan Amount | Up to 80%–90% of estimated construction costs, based on lender assessment. |
| Interest Rate | Comparable to purchase loans, with both fixed and floating options. |
| Disbursement | Released in instalments as per construction milestones (foundation, structure, roofing, etc.). |
| Loan Tenure | 5 to 20 years. |
| Eligibility | Steady income, positive credit history, complete property documents, possible co-owner requirement. |
| Processing Fee | 0.5%–1.5% of the sanctioned amount. |
| Why Choose | Ideal for custom home projects with funds provided in sync with construction stages. |
3. Home Renovation Loan
For homeowners looking to modernise or repair their property without draining savings, this loan covers upgrades, refurbishments, and essential repairs.
| Feature | Details |
|---|---|
| Loan Amount | 80%–90% of renovation costs, subject to valuation and eligibility. |
| Interest Rate | Similar to purchase loans; fixed or floating available. |
| Loan Tenure | 5 to 15 years. |
| Eligibility | Proof of property ownership, stable income, good credit score. |
| Processing Fee | 0.5%–1% of loan amount. |
| Why Choose | Enhances property value and comfort without high upfront costs. |
4. Home Extension Loan
For homeowners who need more space — like an additional room or extra floor — this loan funds property expansion while avoiding relocation.
| Feature | Details |
|---|---|
| Loan Amount | 75%–90% of estimated expansion cost. |
| Interest Rate | Similar to standard home loans. |
| Loan Tenure | 5 to 20 years. |
| Eligibility | Proof of ownership, compliance with building regulations, steady income, good credit score. |
| Processing Fee | 0.5%–1.5% of loan amount. |
| Why Choose | Helps expand living space affordably with flexible repayment options. |
5. Home Equity Loan
Allows homeowners to use their property’s equity to secure funds for major expenses such as higher education, medical treatment, or business expansion.
| Feature | Details |
|---|---|
| Loan Amount | 60%–80% of property equity value. |
| Interest Rate | Lower than unsecured loans; fixed and floating available. |
| Loan Tenure | 5 to 15 years. |
| Eligibility | Stable income, strong credit profile, significant property equity. |
| Processing Fee | 0.5%–1% of loan amount. |
| Why Choose | Provides access to large funds at lower rates compared to personal loans. |
6. Balance Transfer Loan
Helps borrowers move their existing home loan to another lender for lower interest rates or improved terms, reducing overall cost.
| Feature | Details |
|---|---|
| Loan Amount | Covers the outstanding balance; option for a top-up loan. |
| Interest Rate | Lower than current rate with the existing lender. |
| Loan Tenure | Flexible — can reset repayment period. |
| Eligibility | Good repayment history, stable income, strong credit score. |
| Processing Fee | 0.5%–1% of transfer amount. |
| Why Choose | Reduces EMI burden and overall interest payout. |
7. Top-Up Loan
An add-on facility for existing home loan customers needing extra funds without a separate loan application.
| Feature | Details |
|---|---|
| Loan Amount | 70%–80% of property value after adjusting outstanding balance. |
| Interest Rate | Slightly above original loan rate; still cheaper than personal loans. |
| Loan Tenure | Usually matches remaining tenure of existing loan. |
| Eligibility | Good repayment history, adequate property equity. |
| Processing Fee | 0.5%–1% of top-up amount. |
| Why Choose | Quick access to extra funds with minimal documentation. |
8. Home Loan Refinance
Replaces your current home loan with a new one to benefit from better rates or terms.
| Feature | Details |
|---|---|
| Loan Amount | Covers existing loan balance; option to refinance higher. |
| Interest Rate | Lower than current rates, leading to cost savings. |
| Loan Tenure | Adjustable to reduce EMI or close loan sooner. |
| Eligibility | Positive credit record, stable income, at least 6–12 months repayment history. |
| Processing Fee | 0.5%–1% of refinanced amount. |
| Why Choose | Aligns repayment with current financial situation. |
9. Land Purchase Loan
For buying a plot intended for construction or investment, with terms tailored for land acquisition.
| Feature | Details |
|---|---|
| Loan Amount | 70%–80% of land’s value. |
| Interest Rate | Slightly higher than regular home loans. |
| Loan Tenure | 5 to 15 years. |
| Eligibility | Clear property title, stable income, satisfactory credit score. |
| Processing Fee | 0.5%–1% of loan amount. |
| Why Choose | Enables plot purchase with flexible financing for future construction. |
10. NRI Home Loan
Tailored for Non-Resident Indians looking to invest in Indian property.
| Feature | Details |
|---|---|
| Loan Amount | 80%–85% of property’s value. |
| Interest Rate | Similar to domestic loans; fixed or floating options. |
| Loan Tenure | 5 to 20 years. |
| Eligibility | Valid NRI status, overseas income proof, good credit score, possible Indian co-applicant. |
| Processing Fee | 0.5%–1% of loan amount. |
| Why Choose | Makes it easier for NRIs to buy homes in India with competitive rates. |
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