Home Loan in Indore: Overview
Indore is an industrial hub of Madhya Pradesh and is also known as one of the cleanest cities in the country. It was selected as one of the first 100 cities for the Smart City Mission. It is considered as the financial capital of Madhya Pradesh and is home to some of the prestigious institutions, such as IIT-Indore and IIM-Indore. Indore, being a centre of education and commerce, is witnessing significant growth and increasing demand in the city's real estate market.
To help you with your homebuying journey in this city, we offer Home Loans at an attractive interest rate with a longer repayment tenor of up to 40 years, basis eligibility.
Home Loan in Indore: Features and Benefits
Simple Documentation and Quick Processing
Get your Home Loan approved with basic KYC, income, financial, and property-related documents. Benefit from quick processing with our minimal documentation.
Refinance Your Existing Loan
You can transfer your existing Home Loan to us and benefit from our cost-effective terms. While doing so, you can also get a Top-up Loan at a competitive rate of interest.
24x7 Digital Access
Get documents and details regarding your Home Loan, such as your interest certificate and loan statement, anytime, anywhere, through our customer portal.
Simple Eligibility Criteria
Obtain a Home Loan with us quickly, courtesy of easy Home Loan eligibility terms. Our eligibility parameters, such as income and work experience, among others, are easy to meet.
No Prepayments Charges
We do not charge any penalty on the part-prepayment or foreclosure of a floating interest rate Home Loan for an individual borrower.
Flexible Tenor
With a tenor that goes up to 40 years, you can keep your EMIs low and align them with your income and obligations.
Home Loan in Indore: Documents Required
Availing of a Home Loan with us is easy, given that you only need to provide basic documents*** such as:
- KYC documents (including ID and address proof)
- Mandatory documents (PAN Card or Form 60)
- Financials (Form 16, P&L statement, etc.)
- Bank account statements of the last 6 months
- Last 3 months’ salary slips (for salaried applicants only)
- Proof of business (for self-employed applicants only)
- Property papers such as Sale Agreement, Allotment Letter, and receipt of payments made to the agent or developer.
***This list of documents is indicative and you may be required to submit others during your application, if needed.
Home Loan in Indore: Eligibility Criteria
The eligibility criteria for a Home Loan are easy to meet. You need to fulfil the following criteria to avail of a sizeable sanction on better terms:
| Eligibility Criteria | For Salaried | For Self-Employed |
|---|---|---|
| Nationality | Indian (including NRIs) | Indian (residents only) |
| Age | 23 to 75 years** | 25 to 70 years** |
| Work experience/business continuity | 3 years or more | 5 years or more |
| Income | Employed with a stable source of income | Showcase stable revenue from your profession or business (existing) |
**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Home Loan in Indore: How to Apply
If you wish to avail of a Home Loan with us, enter all the requested details in the Home Loan application form. Once the form is filled and submitted, our representative will contact you to proceed with your Home Loan application.
If you submit all the details correctly and meet our verification parameters, you can expect a speedy approval, followed by disbursal.
*Terms and conditions apply.
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