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Home Loan

A sum of money simply borrowed from a financial institution or bank to purchase a house at a certain rate of interest to be paid with EMI every month.
  • New home loan: Loan for purchasing ready built-up or under construction house/flat or resale property.
  • Home renovation loan: Loan to redesign your home and giving it a new look.
  • Home construction loan: Loan to construct your dream home, on your owned plot.
  • Home extension loan: Loan for adding extra space to your existing home, like adding a bedroom, building an extra room, etc.
  • Plot loan: Loan for purchasing a piece of land, on which you can construct your dream home.
  • Home Loan Transfer: Transfer of an existing home loan at a lower interest, which will help reduce your current interest burden.
  • Plot and Construction Loan: Loan to buy a plot of land as well as for constructing your dream home on it
  • Indian, residing in India.
  • Above 21 years of age at the beginning of the loan
  • Either salaried or self-employed (businessman or professional)
  • Determined on the basis of professional income, age, qualifications, assets, liabilities, stability and continuity of occupation, savings and prior credit history.
  • The loan eligibility will also be dependent on the value of property.
  • Step 1 : Submit loan application form along with the required documents.
  • Step 2 :get your loan application quickly reviewed by our team of experts who study your existing EMIs, age, income, and property
  • Step 3 : A property valuation and title check may be carried out by our team of experts to determine the property value and legal clearance of the property.
  • Step 4 : Submission of the original property documents are required along with signing of documents.
  • Step 5 : QuickPaisa will disburse the loan amount after all the verification done by Banks/ Financial Institutions.
It is not mandatory to have a co-applicant but having a co-applicant will increase your eligibility and your chances of getting the home loan sanctioned. If you are an individual, your parents, your spouse or even your major children can be your co-applicant. A co-owner of your property has to be a co-applicant but a co-applicant need not be a co-owner. Non Individual organizations like a partnership firm, an LLP, and a private limited company can also be a co-applicant.
EMI (Equated Monthly Installment) is the amount payable to the lending institution every month, till the loan is completely paid off. It comprises of the interest as well as the principal amount.
Pre-EMI Interest is the simple interest, payable every month till the time loan amount is not fully disbursed.
The property to be purchased itself becomes the security and is mortgaged to the lending institution till the entire loan is repaid. The title of the property should be clear, marketable and free from any encumbrances.
Fixed rate of interest means interest rate remains constant during the entire tenure of the loan.
A floating rate is that in which interest rate varies periodically over the loan tenure. These rate varies from time to time.
Our experts can assist you through our quick and easy home loan application process. You can get your loan disbursed within 20 days.
In some cases, we require a guarantor.
You can avail of a loan for a maximum tenure of 20 years.
Loan amount is subject to income and valuation of property
Property insurance is mandatory in order to protect your property against uncertainties like earthquake, fire or any damage and destruction due to natural and man-made calamities, during the tenure of the loan.