Want to translate your dreams of buying a home into reality? Does paucity of funds make you worried for not allowing you to buy your ideal home? Well, among home loan interest rate offered from across various lenders, select the best optimal home loan interest rate that can give you a base to stablize your dream home for converting into the final purchase. Before that you need to ascertain the eligibility check for yourself:
Home Loan Eligibility Check
Check the interest rates of home loan from Wishfin website that covers up 21 Government & Private Banks. Do you imagine as of now 3,21,672 quotes have been taken from Wishfin? Check your eligibility criteria by entering the following details in Wishfin home loan eligibility calculator:
1. Loan Amount Required
2. Type your City Name
3. Specify whether you are a Salaried or Non-Salaried Individual
4. Enter your Monthly Income
After entering the above details once you enter the submit button, it will process your details and finally show you the eligibility criteria for availing loans for a period of 1-30 years.
If you are an SBI Credit Card holder who wishes to avail the desired home loan interest rate, get ready for the instant offers from Wishfin the moment you submit your details. Grab free movie tickets, other exciting offers on Shopping, Dining, Travel Bookings and much more. Rejoice this opportunity soon before other offers commence.
Home Loan Interest Rates for October 2017
Have a glimpse on home loan interest rates for October 2017 before you finalize the best deal for yourself:
1. State Bank of India : 8.35% - 8.65%
2. HDFC: 8.35% - 9.05%
3. Bank of Baroda: 8.30% - 9.30%
4. LIC Housing: 8.35% - 8.70%
5. PNB Housing Finance: 8.50% - 8.60%
6. ICICI Bank: 8.35% - 8.85%
7. Axis Bank: 8.35% - 8.75%
8. Citibank: 8.60% - 9.35%
9. Indiabulls Housing Finance Limited: 8.35% - 8.55%
10. Kotak Bank: 8.35%
Home Loan EMI Calculator
Home loan EMI Calculator is an online arithmetical tool in order to help you out to assess the criterion of obtaining your repayment amount as against the borrowed loan. It will be helpful to finance your home loan. All you are required to enter the details like borrowed amount, sanctioned interest rate and loan tenure to gauge your estimations for several intervals along with your capacity of paying EMI. However, your monthly installment gives you a rough estimate of your monthly outflow that you are required to shell out towards your home loan repayment.
Let us understand with the help of a simple example:
Ankita is an HR professional working for an MNC in Noida. She wishes to buy her own home in Greater Noida for which she will be close to her office. As soon as he gets over with calculating her own savings and the cost of the house, she found out that she is falling short of ₹ 8 lakhs towards the purchase of the flat. She wants to select her own preferences for finalizing a bank and input the following details in the EMI calculator in the following way for her own chosen banks:
Tenure : 30 years
State Bank of India : 8.35% - 8.65% p.a.
Monthly Instalment(EMI) : ₹6,066-₹6,237
Total Interest Amount : ₹13,83,928-₹14,45,159
Total Amount(Principal+Interest) : ₹21,83,928-₹22,45,159
HDFC: 8.35% - 9.05% p.a.
Monthly Instalment(EMI) : ₹6,066-₹6,466
Total Interest Amount : ₹13,83,928-₹15,27,682
Total Amount(Principal+Interest) :₹ 21,83,928-₹23,27,682
Bank of Baroda: 8.30% - 9.30% p.a.
Monthly Instalment(EMI) :₹6,038-₹6,610
Total Interest Amount : ₹13,73,779-₹15,79,748
Total Amount(Principal+Interest) :₹21,73,779-₹23,79,748
LIC Housing: 8.35% - 8.70% p.a.
Monthly Instalment(EMI) :₹6,066-₹6,265
Total Interest Amount : ₹13,83,928-₹14,55,420
Total Amount(Principal+Interest) :₹21,83,928-₹22,55,420
PNB Housing Finance: 8.50% - 8.60%p.a.
Monthly Instalment(EMI) :₹6,151-₹6,208
Total Interest Amount : ₹14,14,471-₹14,34,914
Total Amount(Principal+Interest) :₹22,14,471-₹22,34,914
Home Loan Documents Required
The applicant is required to submit the following documents in order to get the approval of home loans:
1. Identity and Residence Proof (any one) : Valid Passport/Voter ID Card/Aadhar Card /Valid Driving License
2. Proof of Income : Last 3 months' Salary Slips, last 6 months' Bank Statements( showing salary credits) and latest Form-16 along with IT return
3. Other Documents
- Employment Contract / Appointment Letter is required if the current employment is less than 1- year old
- Last 6 months' Bank Statements showing repayment of any existing loans
- Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
- A cheque for processing fee favouring ‘HDFC Ltd.’
4. Property related documents
- Copy of the Allotment Letter / Buyer Agreement
- Receipt of the payment made to the developer
Home Loan Application Status
As soon as you submit your application with the bank/housing finance company, it becomes essential to assess the status of your home loan. Either banks or housing finance companies accept or reject the criterion based on their pre-determined set criterions. It is therefore required to contact your relationship manager for ascertaining your application status on your home loan or you are in look out for the best financial marketplace that can look after your needs on your behalf. Log on to Wishfin website and place your quote as above specified. The final result shown on the website will confirm you about the status of your home loan.
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