• 9863020202    
  • contact@financeseva.in

Home Construction Loan

• Loan upto 3.5 Crore
• Faster loan disbursement
• Longer loan tenure
Enquiry Form
Home Construction Loan
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month)
Bank of Baroda
8%
1%
Bank of India
9%
1%
Bank of Maharashtra
10
1%
Canara Bank
8%
1%
Central Bank of India
9%
1%
Indian Bank
10%
1%
Indian Overseas Bank
8%
1%
Punjab & Sind Bank
9%
1%
Punjab National Bank
10%
1%
State Bank of India
8%
1%
UCO Bank
8%
1%
Union Bank of India
9%
1%
United Bank of India
10%
1%
Axis Bank Ltd.
8%
1%
Bandhan Bank Ltd.
9%
City Union Bank Ltd.
10%
1%
DCB Bank Ltd.
8%
1%
Digibank (DBS)
9%
1%
Federal Bank Ltd.
10%
1%
HDFC Bank Ltd
8%
1%
ICICI Bank Ltd.
8%
1%
IDFC First Bank
9%
1%
IndusInd Bank
10%
1%
Kotak Mahindra Bank
8%
1%
RBL Bank Ltd.
9%
1%
South Indian Bank Ltd.
10%
1%
YES Bank Ltd.
8%
1%
Axis Finance Limited
10%
1%
Bajaj Finserv Ltd.
8%
1%
Capri Global Capital Limited
8%
1%
DHFL
9%
1%
Edelweiss Finance
10%
1%
Hero FinCorp Limited
9%
1%
Hinduja Leyland Finance Limited
10%
1%
LIC Housing Finance
10%
1%
Magma Housing Finance Limited
10%
1%
Piramal Capital and Housing Finance
8%
1%
Shriram Housing Finance Limited
8%
1%
Tata Housing Finance Limited
8%
Edelweiss Finance
10%
1%
Indiabulls
9%
1%
Aditya Birla Housing Finance Ltd.
10%
1%
Bank Name Min Interest Rate
Bank of Baroda

8%

Bank of India

9%

Bank of Maharashtra

10

Canara Bank

8%

Central Bank of India

9%

Indian Bank

10%

Indian Overseas Bank

8%

Punjab & Sind Bank

9%

Punjab National Bank

10%

State Bank of India

8%

UCO Bank

8%

Union Bank of India

9%

United Bank of India

10%

Axis Bank Ltd.

8%

Bandhan Bank Ltd.

9%

City Union Bank Ltd.

10%

DCB Bank Ltd.

8%

Digibank (DBS)

9%

Federal Bank Ltd.

10%

HDFC Bank Ltd

8%

ICICI Bank Ltd.

8%

IDFC First Bank

9%

IndusInd Bank

10%

Kotak Mahindra Bank

8%

RBL Bank Ltd.

9%

South Indian Bank Ltd.

10%

YES Bank Ltd.

8%

Axis Finance Limited

10%

Bajaj Finserv Ltd.

8%

Capri Global Capital Limited

8%

DHFL

9%

Edelweiss Finance

10%

Hero FinCorp Limited

9%

Hinduja Leyland Finance Limited

10%

LIC Housing Finance

10%

Magma Housing Finance Limited

10%

Piramal Capital and Housing Finance

8%

Shriram Housing Finance Limited

8%

Tata Housing Finance Limited

8%

Edelweiss Finance

10%

Indiabulls

9%

Aditya Birla Housing Finance Ltd.

10%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by home construction loan Eligibility Criteria?

This facility is specially designed to those borrowers who need fund to construct home at convenient interest rates, even there are several benefits included like low processing fee, maximum loan amount, flexible tenure & easy to apply. You are only required to ensure that you meet mandatory criteria.

Home construction loan Eligibility Criteria

Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.

Eligibility Criteria

  • • Applicant age should be in-between 18 - 60 years of age
  • • Applicant can be salaried or self-employed
  • • Minimum 3 years of work experience & current 1 year in one organization
  • • Applicant must have credit score above 750
  • • Resident of Indian

Note: - You can get up to 90% of property value as a maximum loan amount.

What are the factors generally affecting home construction loan Eligibility Criteria?

There are top factors that generally affects eligibility criteria as given below: -

Low credit score: - Credit score plays a critical role in determining your past financial creditworthiness, credit score ranging below 650 known as low which means you were unable to pay bill or EMI on time & this type of financial behavior not acceptable by lenders.

Lack of work experience: - Lender will look forward to checking your work experience as to measure the stability to pay monthly EMI & payback principal amount, due to lack of work experience your chances of getting loan become lower.

What are the ways to increase home construction loan eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level: -

Clear existing debts: - If you are paying EMI for existing loan & planning to avail new loan, then make sure you clear existing debts as it will rebalance your financial stability & increase your eligibility as well.

Show additional income: -Apart from your fixed monthly salary or business income, additionally you can add up other sources of income like rental income, part- time income, interest generating through fixed deposit & other incentives, consider these point it will boost your eligibility.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. PAN Card Copy
  2. AADHAR CARD + PASSPORT
  3. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  4. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  5. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  6. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  7. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  8. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  9. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST Return last 1 years
  7. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  10. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  11. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  12. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  13. Agreement To Sell copy
  14. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
Frequently Asked Questions

How does home loan construction works?

Once your submitted documents & profile match the required eligibility criteria your loan application is processed to further level, after that bank will initiate a evaluation process upon the evaluation your loan get sanctioned & shortly disbursement will take place.

Which bank provides loan at low interest rates?

  • For home construction loan below mentioned bank provide loan at low interest rates-
  • State bank of India 
  • Bank of Baroda 
  • Canara Bank 

What are the documents required for home construction loan?

  • KYC Documents 
  • Income Documents 
  • Property Documents 

What is the processing fee?

The processing fee for home construction loan vary from 0.5% - 2% depending on loan amount.

What is the current home construction loan interest rates?

Home construction loan rates 6.95% onwards which are much affordable as compared to other loans.

How to get home construction loan?

Firstly, search, compare & choose your preferred lender thereafter contact their customer representatives via visiting their official website & raise a enquiry or visit your nearest bank branch to request for loan application.

What is the benefits of home construction loan?

Several banks are offering online application which help you to save time even additional tax benefits are offered.

How to calculate home construction loan eligibility?

Home construction loan eligibility enables you to do easy calculations by entering required loan amount, interest rate & tenure period .It provide a scheduled chart of each month EMI to be paid & help to build stronger financial planning.

Is it good to get home construction with loan?

Yes, it's one of the best way to make your dream come true, get loan at attractive rates with flexible tenure facility.

What is home construction loan process?

The process of getting a construction loan is easy, just visit your chosen bank official site & fill the enquiry form shortly their customer representative will contact you to explain further details of products & services.

Related Topics

  • HOME CONSTRUCTION LOAN BY BANKS

  • HOME CONSTRUCTION LOAN BLOGS

credit-report
business Credit Report
Improve Credit Report
Get Financial Statement

Join our Network of Happy Customer

CA Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

Read More
CA Vikas Jain

CA Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

Read More

If you want me & my team at financeseva to help you in getting Best Financial Services, Just Book a Free Call