If you are a private Company Employee, here’s what you need to know about a Home Loan

If you are employed with the private sector, you can now easily get a tailor-made home loan from a lender who understands your requirements and financial position. Here’s what you need to know about home loans if you are working in the private space:

  • Most lenders will offer you a lot of flexibility when it comes to the repayment of your home loan and you can get a huge sanction on your nominal interest.
  • The purpose behind opting for a tailor-made home loan is the convenience that it offers. Without having to go through a long and cumbersome application process, you can simply choose if you want to apply offline or online and then, fill up the application form, and submit it with a few documents. This can be submitted to the lender’s representative who will collect the same from your house or office.
  • Most lenders allow you to easily manage the details of your home loan online post the loan being disbursed. You can log in to their portal, track loan-related statements, documents and EMI payments.
  • A home loan for employees in the private sector is customised and hence, it is pretty easy to meet the eligibility criteria for the loan. According to the terms of the home loan, you will have to meet these criteria:
    • You should be an Indian citizen
    • Currently working as a professional
    • Age: between 23 and 58 years
    • At least 3 years of work experience
  • Please note that you will have to submit the following KYC documents:
    • Form 16
    • Address proof
    • Identity proof
    • Bank account statements

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