A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Bangalore Home Loan

    Bangalore Home Loan
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    Fees & Charges

    Promised Interest Rate

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    Bangalore also known as Bengaluru, is the capital of the Indian state of Karnataka. It is India's third-largest city.In recent years, Bangalore propelled to be the forefront of the high-tech industry boom in India, and it currently ranks as India's most developed city and one of the world's fastest growing urban areas.

    Home loans, also known as mortgages, use the borrower's home for collateral. This home can be a single-family house up to a four-unit property, as well as a cooperative unit. Lenders fund home loans, but both the lenders themselves and brokers who act on behalf of the lenders originate, or process, them.

    You’re probably eligible for an Bangalore Home Loan if you are

    Bangalore Home Loan Minimum Age

    At least 21 years old

     Bangalore Home Loan Maximum Age

    Less than 65 years old

    Bangalore Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Bangalore Home Loan Minimum Income

    Earn more than the minimum
    income required

    Your Bangalore Home Loan amount eligibility is based on these factors

    Bangalore Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    Bangalore Home Loan Maximum Loan to property value

    Loan capped @ 75% - 85% on property value

    Bangalore Home Loan EMI

    EMIs of other loans lower
    your eligibility

    Increase your eligible Bangalore Home Loan amount by these steps

    Bangalore Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Bangalore Home Loan Maximum Tenure

    Choose longer tenure loan up to 20 - 30 years

    Bangalore Home Loan Add parents as Co-applicant

    Alternatively add your parents

    Documentation needed to apply for an Bangalore Home Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Processing fee cheque
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Bangalore Home Loan Interest RatesUpdated on 09 Feb 2016

    Bangalore Home Loan Details
    Interest Rate (Monthly reducing balance) 10% - 10.5%
    Processing Fees 0.50% of Loan
    Loan Tenure 1 year to 20 - 30 years
    Partial pre-payment Charges Nil
    Pre-closure Charges Nil

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