| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
|---|---|---|---|---|---|
|
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
|
|
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|
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
|
|
.png)
|
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
|
|
.png)
|
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
|
|
.jpg)
|
8%
|
1%
|
1000
|
240
|
|
|
8%
|
1%
|
1000
|
240
|
|
|
9%
|
1%
|
1000
|
360
|
|
.jpg)
|
10%
|
1%
|
1000
|
360
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
8% |
|
|
|
9% |
|
|
|
10 |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
8% |
|
|
|
10% |
|
|
|
8% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
|
|
9% |
|
|
|
10% |
|
|
|
10% |
|
|
|
10% |
|
|
|
8% |
|
|
|
8% |
|
|
|
8% |
|
|
|
9% |
|
|
|
10% |
|
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.
Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.
Note: - You can get up to 90% of property value as a maximum loan amount.
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.
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.
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?
What are the documents required for Home Construction Loan?
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.
Want to get financial service? Advise by CA Vikas Jain
CA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreCA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
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