• 9863020202    
  • contact@financeseva.in

Home Construction Loan

Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month) Chances of Loan Approval
8% 1% 1000 360
9% 1% 1500 360
10 1% 1500 240
8% 1% 1000 360
9% 1% 1000 360
10% 1% 1500 360
8% 1% 1000 360
9% 1% 1500 360
10% 1% 1000 360
8% 1% 1000 360
8% 1% 1000 240
9% 1% 1000 360
10% 1% 1000 240
8% 1% 1000 240
9% 1% 1000 240
10% 1% 1000 360
8% 1% 1500 360
9% 1% 1500 360
10% 1% 1500 360
8% 1% 1000 360
8% 1% 1000 240
9% 1% 1000 240
10% 1% 1000 360
8% 1% 1000 360
9% 1% 1000 240
10% 1% 1000 240
8% 1% 1000 240
10% 1% 1000 240
8% 1% 1000 240
8% 1% 1000 240
9% 1% 1000 360
10% 1% 1000 240
9% 1% 1000 240
10% 1% 1000 240
10% 1% 1000 240
10% 1% 1000 240
8% 1% 1000 240
8% 1% 1000 240
8% 1% 1000 240
9% 1% 1000 360
10% 1% 1000 360
Apply Now EMI Calculator Eligibility Criteria Documents Check List FAQs
₹ 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
  1. PHOTOGRAPHS 2

  2. PAN CARD COPY

  3. AADHAR CARD + PASSPORT

  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF

  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE

  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT

  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)

  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS

  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK

  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

PROP FIRM
  1. PHOTOGRAPH BOTH

  2. PAN CARD CLEAR COPY PROPRIETOR

  3. ADDRESS 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

PARTNERSHIP FIRM
  1. PARTNERSHIP DEED COPY

  2. GST CERTIFICATE

  3. GST RETURN LAST 1 YEARS

  4. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED

  5. PROVISIONAL FINANCIAL AY 2019-20

  6. 3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION

  7. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED

  8. ALL PARTNER SAVING A/C STATEMENT 6 MONTH

  9. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED

  10. AGREEMENT TO SELL COPY

  11. PROPERTY PAPERS COMPLETE CHAIN WITH MAP

PVT.LTD
  1. ALL DIRECTORS PHOTOGRAPH

  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS

  3. ADDRESS PROOF – COMPANY AND DIRECTORS

  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE

  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)

  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE

  7. 1 YEAR GST RETURNS

  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS

  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE

  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR

  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED

  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH

  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED

  14. AGREEMENT TO SELL COPY

  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

FAQs

Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.

How does Home Construction Loan 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 Interest 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 BLOGS

Personal Need Loan Products

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

Join our Network of Happy Customer