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Home Loan

Home Loan / Housing Loan

Everyone dreams of owning a home but because of financial constraints they need to depend on banks to live their dreams.

Home loan is borrowed by an individual from a bank or a money lending company at a given rate of interest to be returned with an easy monthly installment (EMI).

Home loan can be used for the purpose of purchasing property to build a home or renovate existing home or takeover of loan from a different bank.

How to apply Home Loan online?

People can apply home loan in different banks through online by filling basic details and customer service executive will contact you for further details.

Our Banking Partners

  • HDFC Bank
  • Axis Bank
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Eligibility Criteria

Age above 21 years

Salaried Professional

Valid Bank Account

Salary Slip

Valid Address / ID Proof

Good Cibil / Credit Score

Required documents for Salaried

  • Property Documents
  • Valid Identity / Residence proof
  • Last 6 months’ bank statements
  • Last 3 months’ salary slips
  • Form 16 or Income Tax returns

Required documents for self-employed

  • Property Documents
  • Valid Identity / Residence proof
  • Last 6 months’ bank statements
  • Last 3 months’ salary slips
  • Form 16 or Income Tax returns
  • Proof of continuity/existence of business, for self-employed non-professionals

Home Loan Rate of Interest

BANK/NBFC Interest Rate(pa) Processing Fee Tenure EMI per Lakh Prepayment Charges
HDFC Bank 8.65% Up to 0.5% of loan amount 20 years Rs. 777 Nil
Axis Bank 8.90% Up to 1% of loan amount 20 years Rs. 797 Nil
ICICI Bank 8.80% 0.5% – 1.00% of loan amount 20 years Rs. 808 Nil
LIC Housing Finance 8.80% For up to 1 Cr – Rs 5000 / Above 1 Cr Rs 10,000 20 years Rs. 797 Nil
PNB Housing Finance 9.00% Up to 1% of loan amount 20 years Rs. 808 Nil
Bank of Baroda 8.65% Up to 0.5% of loan amount 20 years Rs. 780 Nil
SBI 8.55% Rs. 0 – 10,000 20 years Rs. 772 Nil
Indiabulls Housing Finance 8.80% Up to 1% of loan amount 20 years Rs. 856 Nil
DHFL 9.50% Up to 1% of loan amount 20 years Rs. 856 Nil

Customer Testimonials

Customer Testimonails

Good staff, cooperative and explain the plan properly, amount is also disbursed on time, after submitting proper document, I am happy with the service

Vinay Kumar
Customer Testimonails

I was looking for lot of financial institutions but was not happy with their response but after coming to loantrust, experts in loantrust made the processing very simple and hassle free. My loan got disbursed in very short time and I could complete my house and move to new place…Thanks for all the help LoanTrust.

Ashish
Customer Testimonails

Handling too many queries from banks that I applied for made me think that I would never get a home loan…Fortunately I came across a LoanTrust expert who made the processing a cake walk and all tensions were released once the amount was sanctioned.

Ankith
Customer Testimonails

Very quick and prompt response from the team till disbursement of my loan

Nikitha S
Customer Testimonails

Had a great experience applying for a home loan through LoanTrust. I was looking for a home loan of around 25 lakhs for a duration of 20 years. Thanks to LoanTrust I got my home loan with less paperwork and low-interest rate. Thank you. Keep it up.

Jasdhev singh
Customer Testimonails

Fast processing, Timely response and easy log in

Nalina
Customer Testimonails

I was looking for a home loan for my B khata property, i was struggling to get loan in any bank, then i came to know loantrust online. They made my life easier to get loan for B khata property and i am very happy with the service.

Geetha kumari

Frequently Asked Questions

A. Pledge is to register the property from individual ownership to Bank

A. Yes, you can opt for Automated Repayment and your EMIs will be directly repaid.

A. Property documents are kept in safe lockers once the registration is completed

A. Interest applicable on the home loan varies with the change in the Bank's Benchmark rates such as Base Rate/Marginal Cost of Funds based Lending Rate (MCLR).

A. Avail principal repayments under Section 80(C). However, the total amount allowed to be claimed is capped at Rs. 1.5 lakh. As part of the Income Tax Act 1961 rules, the currently applicable exemption under section 24(b) is Rs. 2,00,000 for the interest amount paid in the financial year.

A. Below are the different types of home loan available:
  • Home Purchase Loan
  • Home Improvement Loan: for renovation and repair of your home
  • Home Loan Top-up: additional funding at Home Loan rates along with existing home Loan on the same property
  • Home Loan Transfer: balance transfer of home Loan from other banks and Housing Finance Companies
  • Home Loan for Self Employed: tailor made home Loan for self-employed professionals or non-professionals

A. EMI (Equated Monthly Instalment) is the amount payable to the Bank till the loan is paid back in full. The Emi consists of Interest as well as Principal component.

Home loan eligibility is dependent on person’s income and repayment capacity, other major factors would be age, financial position, credit history and score and financial obligations.

People can enhance home loan eligibility by

  • Adding earning member in family
  • Sharing details of additional income
  • Closing existing loans and short term debts

PMAY is an initiative introduced by the central government of India to provide home loan to help weaker section people afford homes. The mission plans to provide more than 2cr homes by 2022. Project targets to provide affordable housing in selected towns and cities, while also ensuring eco-friendly homes.

The PMAY has been designed to be implemented in three phases:

  • Phase 1 of the programme is expected to run for two years and will cover about 10 cities. The cities will be prioritized according to the housing requirements and the urbanization ratio for advancing home Loan.
  • Phase 2 will cover housing development in 200 cities and will be implemented two years post the implementation of first phase.

Interest subsidy of 3 to 6.5% is given on home loans ranging between Rs. 6 and 12 lakhs. Individuals belonging to the EWS and LIG group and availing a home loan up to Rs. 6 lakhs for tenure of 15 years are offered a subsidy of 6.5%. Interest subsidy on loans up to Rs. 12 lakhs is 3%.

LoanTrust is trusted source for getting loan from various financial institutions. It hand holds customers from preparing documents to submit to the bank till disbursement of the loan.

LoanTrust experts analyze documents thoroughly to make sure that banks they submit will not have any concern and disbursement is made earliest.