A home loan simply means a specific sum of money borrowed from a bank or NBFC to buy/purchase/expand/renovate the house. You can borrow larger sums in home loan for longer tenures. Home loan tenures go up to 30 years. Banks and NBFCs offer home loan to buy, construct, repair or renovate a residential property. The interest rate on a home loan differs from lender to lender and is decided as per the profile of the borrower. They offer two types of interest rate: fixed interest rate and flexible interest rate. Banks and NBFCs have a very specific list of documents and eligibility criteria to approve home loan. A home loan is a secured type of loan and here a borrower has to keep his or her house as collateral to the bank. The bank approves loan against the mortgaged property as per the current cost of the same.
Delhi is the capital of India. People from all over the nation come to Delhi looking for opportunities. Delhi is expanding day by day horizontally and vertically. There are various types of residential properties available in Delhi: apartments, bungalows, row houses etc. You can get a home loan from any bank or NBFC to build, purchase or to renovate these properties. But still if you are not sure why you need a home loan, we have come up with plenty of reasons
Buying a property requires heavy amounts of funds. People usually do not have such huge amount at their disposal. Such transactions need to be done by legitimate money lenders like trusted banks and NBFCs. Thus you should take a home loan for safer transactions.
: If you take a home loan in Delhi, you can avail tax benefits under section 24 of the Income Tax Act, where you can claim up to Rs. 1.5 lakh out of the interest component of your home loan.
When you apply for home loan, banks and NBFCs approve up to 85% to 90% of the loan amount. You have to pay the remaining 10% to 15% of the amount from your pockets. This way you don’t have to spend all your savings buying a house in Delhi.
Banks and NBFCs offer home loan in Delhi for various types of house related needs. You can get a home loan in Delhi for following reasons.
Banks and NBFCs offer this type of loan to purchase a house in Delhi.
Banks and NBFCs offer this type of loan to construct a house in Delhi.
Banks and NBFCs offer this type of loan to renovate or extend the house. Like if you want to build extra room or floor on your already constructed house in Delhi, you can take this loan.
Banks and NBFCs offer this type of loan to people who want to buy a new house while they still have the home loan on their first house. The home conversion loan helps you to transfer the current loan from your old house to your new house in Delhi.
Banks and NBFCs offer this type of loan to people who want to change the lender of their loan in the middle of the loan. If you want to switch loan lender because other lender is offering lower interest rate with some other benefits, you can do that by opting for this option. This way you avail yourself for better interest rates on home loan in Delhi.
Ruloans is India's fastest growing financial distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for home loans with Ruloans' latest online application process. You can choose from a plethora of banks and NBFCs on our website for your loan. We help you borrow right.
We have developed an efficient, smooth and easy process for our consumers to get a home loan. Our easy to use online procedure allows consumers to apply documents quickly. Our highly proficient Loan Calculator also guides the consumers to embark on a hassle free process.
We value our consumers and are always on our toes to give them benefits of our expertise. Applying for a home loan with us, gives you a chance to avail the best offers and deals from our partner banks and NBFCs.
You can compare interest rates, offers and services on our online portal. This will guide you to make the right choice and choose the right lender for your home loan as per your budget and expectations.
Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, to choose the right home loan, without charging a dime.
We, at Ruloans understand the value of your documents and keeping them safe and private. Your loan applications are processed electronically with complete privacy and transparency.
Getting a home loan in Delhi is not easy. You need ample documents to get a home loan. Banks and NBFCs are very specific and determined when it comes to the list of required documents to get a home loan in Delhi. Below is the list of required documents:
Ruloans is touching new heights in the country as its fastest growing loan distributor. With our internally developed highly proficient Loan Calculator algorithm we help our consumers to get the perfect loan. We have a huge team of loan experts at our end to help you with your home loan related needs. Using our latest online application process you can choose from a number of banks and NBFCs for your home loan in Delhi. We help you borrow right.
Ruloans has developed a hassle free online process to ease the home loan application procedure. Our easy to use procedure with user friendly interface will guide you to apply for a home loan easily. You can also upload your documents online.
We offer our customers special benefits for applying for a home loan with us. As we are partnered with many banks and NBFCs, we offer you best deals from the lender of your choice.
When you apply for a home loan in Delhi on Ruloans, we offer you a list of banks and NBFCs so that you can compare their interest rates and other details. This way we help you borrow right.
Ruloans offers its services free of cost. We do not charge our customers for our guidance and advice in the loan procedure.
Repayment period of loan starts after the entire home loan is disbursed to the borrower. If the property is under-construction, then the banks allow payment of the partially disbursed amount. Towards this partially disbursed loan amount, borrowers are allowed to either repay the principal and interest amount both or just the interest amount or none of the above mentioned amount at all.
The home loan is sanctioned as soon as all the required documents are submitted and verified successfully. This procedure takes anywhere between 10 to 30 days.
Any property document that are submitted as security collateral are returned to the consumer only once the entire home loan amount is repaid and the home loan on his/her name is closed.
At present, up to 7 people can co-sign a home with the primary applicant. But, all of those need to be blood relatives of the family member.
It is not mandatory to apply for a bank account before taking a loan from it. But if you have an account with the bank, you become eligible for a relationship discount. Some banks also provide you additional services along with relationship discount.
Though required documents vary from vendor to vendor, some of the major documents needed are as -
Yes, you can track your application via SMS and email. We also provide the facility to track your application on our website via login menu.
For your loan-related queries, you can call our representative on 1800 2667576 or mail us at email@example.com