Home Loan
A home holds immense significance in our lives. It is not just a physical structure but a sanctuary where we find solace, love, and a sense of belonging. It is the place we eagerly return to after a long day, where we create cherished memories with our loved ones, and where our dreams take shape. Home is where our hearts reside, and it forms the very essence of our existence.
Understanding the profound importance of having a home, Rupee Boss is dedicated to helping you fulfill your dream of owning one. We believe that everyone deserves a place they can call their own, a haven where laughter echoes through the halls and love fills every corner. That's why we offer home loans with the lowest home loan interest rates.
Home Loan EMI Calculator
₹
Check your customised Loan Eligibility now.
Why choose Rupee Boss for your Home Loan needs?
We understand that each individual’s needs are unique, and that’s why we strive to provide a wide range of loan options and a simple way to apply for a home loan. Whether you’re looking for low interest home loans, flexible repayment terms, or a higher loan amount, we have the perfect solution for you.
When you choose Rupee Boss for your Home Loan needs, you can be confident that you are working with a trusted and reliable platform. We are dedicated to ensuring your satisfaction and helping you achieve your homeownership dreams. Apply for Home Loan with Rupee Boss today and experience the convenience and peace of mind that comes with working with the best in the industry.
Service benefits
Competitive Interest Rates: Rupee Boss offers lowest home loan interest rate, ensuring affordability and favourable monthly repayments.
Flexible Loan Amounts: Whether you need a small loan for a modest home or a larger sum for a luxurious property, Rupee Boss provides the simplest home loan process and to help you get the home you desire!
Quick Approval and Disbursement: Time is of the essence when it comes to purchasing or constructing a home. With Rupee Boss, you can easily apply for a home loan and expect quick approval and hassle-free disbursement of funds, ensuring that you can seize the opportunity without delay.
Transparent Process: Rupee Boss maintains transparency throughout the home loan process, providing clear terms and conditions, fees, and charges. You can trust us to keep you informed and ensure a smooth borrowing experience.
Dedicated Customer Support: Our team of dedicated customer support professionals is always ready to assist you with a simple home loan process . Whether you have questions about eligibility for home loan, need guidance, or require any assistance, we are here to provide you with the support you need.
Key Features
Interest Rate: 8.55% p.a. onwards
Loan Amount: up to 85% of the property value
Tenure: up to 25 years (some lenders offer repayment period till 30 years)
Processing Fees: 0.5% to 2% of loan amount (may vary across lenders)
Eligibility Criteria
Home loan eligibility varies across lending institutions and loan schemes so a common set of housing loan eligibility criteria is given below
Age Limit | 18 – 65 years (must not be older than 70 by the time the home loan matures) |
Nationality | Indian Residents, Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) |
Minimum Income | Salaried – Rs. 25,000 per month Self Employed – Rs. 2 lac per annum (varies across lenders & locations) |
Minimum Work Experience | Salaried – 2 years Self Employed – 5 years |
Credit Score | Preferably 750 and above (varies across lenders) |
Home Loan Interest Rates
Bank/NBFC |
Rate of Interest |
| Axis Bank | 8.55% – 9% |
| Bank of Baroda | 8.55% – 9% |
| FedFina | 8.55% – 9% |
| HDFC Bank | 8.55% – 9% |
| ICICI | 8.55% – 9% |
| Kotak | 8.55% – 9% |
| SBI | 8.6% – 9% |
| HSBC | 8.65% – 9% |
| Deutsche Bank | 8.75% – 9% |
| Bajaj Finance | 8.75% – 9.25% |
| Aditya Birla | 9% – 9.75% |
| AU Bank | 9% – 9.75% |
| L&T Finance | 9% – 10% |
| PNB | 9% – 12% |
| Indiabulls | 9.25% – 10.5% |
| SCB | 9.5% – 10% |
| Mahindra Home Finance | 9.5% – 10.5% |
| IDFC | 9.5% – 10.5% |
| Piramal | 9.5% – 10.5% |
| Axis Finance | 9.75% – 10.5% |
| Primal Capital Finance | 9.75% – 10.5% |
| DCB Bank | 9.75% – 10.5% |
| Tata Capital | 9.75% – 10. 75% |
| Yes Bank | 9.75% – 10.75% |
| Fullerton | 9.75% – 10.75% |
| Avanse | 11.5% – 12.5% |
| Vastu Housing Finance | 12% – 15% |
| Shriram Finance | 12.5% – 14% |
Documents Required
- KYC (Photo, Pan Card, Aadhar Card of Applicant & Co-applicant)
- Latest 3 months’ Salary Slip
- 12 month bank statement (Reflecting the salary credited)
- Utility Bill (Electricity Bill / Gas Bill)
- 2 year Form 16
- Company ID Card / Offer Letter / Visiting Card
- NOC from Society/Builder
- A detailed estimate of the cost of construction of the house (Cost Sheet)
- Registered Sale Deed, Allotment Letter or Stamped Agreement of Sale with the Builder (original document)
- Receipts of the advance payments made towards the purchase of flat (original document)
- Occupancy Certificate & Completion Certificate
- Individual KYC (Photo, Pan, Aadhar Card of all applicant & Co-applicant)
- Utility Bill (Electricity Bill)
- Gumasta Licence (Proprietor), Company Pan Card/Partnership Deed (Partnership), Company Pan Card/MOA/AOA/Certificate of Incorporation, Shareholding & List of Director (Pvt. Ltd.)
- Udyam Certificate
- 1 year GST return.
- Last 2 years ITR of company and individual (Acknowledgement, Computation of Income, Balance Sheet & Profit & Loss Account with schedules, (If applicable 3CD & 3CB))
- Last 12 months current account banking
- Last 6 months saving account banking
- NOC from Society/Builder
- A detailed estimate of the cost of construction of the property (Cost Sheet)
- Registered Sale Deed, Allotment Letter or Stamped Agreement of Sale with the Builder (original document)
- Occupancy Certificate & Completion Certificate
Note: The above list is indicative and your lender might ask for additional documents.
FAQs
1) How much Home Loan amount can I get ?
a. Your Home Loan Eligibility will be calculated after deductions of the EMIs that you are paying already. Usually, banks and NBFCs fund around 85 % of the loan amount of the total value of the property. Therefore, if you want a home loan to buy a property of Rs. 50 lakhs, the maximum amount you can get is 85% of that i.e. 42.50 lakhs.
2) What is a home loan?
a. A home loan is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest. The repayment of the loan amount is done through EMIs. The brought property is taken as a security by the bank / lending company against the Home Loan.
3) I am a NRI, can I get home loan?
a. A home loan is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest. The repayment of the loan amount is done through EMIs. The brought property is taken as a security by the bank / lending company against the Home Loan.
4) What are the reasons for my home loan application to get rejected?
a. Most often, a poor credit score may be an important reason for your home loan rejection. Lenders assess your creditworthiness with your credit score. ... Credit score plays a major role in your loan approval. Sometimes, the negative credit score may be due to incorrect information provided by the
5) In how much time will the loan get disbursed
a. It usually takes 10-15 days but depends upon bank to bank and case to case.
6) How can i make my Home Loan eligibility better
a. Raise the tenure b. Maintain a good credit score c. Pre-pay running loans
7) How is a loan disbursed for an under construction property
a.EMI Under Construction enables you to make payments through EMIs , in a partly disbursed loan for an under construction project. The loan amount is partly disbursed and EMI is set as per the sanctioned amount. The tenure of the loan keeps moving up with additional amount being disbursed.
8) In how much time will the loan get disbursed7) How is a loan disbursed for an under construction property
a. It usually takes 10-15 days but depends upon bank to bank and case to case.
9) Who can be my co-applicants for the Home Loan?
a. You can include your spouse/parents/children/ siblings as a co-applicant for the Home Loan and we shall consider his / her income to enhance your loan eligibility.
10) Why should I apply for Home Loan on RupeeBoss
a. RupeeBoss is one of the biggest loan distributors in India. This financial institute provides you an option of 50+ banks and NBFCs. It also assists you to get the best rate of interest on your home loan.
11) Can I take a Top up on my home loan?
a. Yes, the option of Top up is available on home loan.
12) Is prepayment allowed in a Home loan?
a. Yes, prepayment is allowed in home loans, but it depends from bank to bank. Some Banks & NBFCs ask forPre-payment charges. But again this varies from bank to bank.
13) Who can be Co-applicants in case of a Home loan?
a. Spouses and only blood relations are considered as co applicants for a home loan.
14) What is Pre EMI INTEREST?
a. In case you have availed only a part of the loan, you would be required to pay only the interest on the amount disbursed till the full loan amount is availed.
15) What are the general charges involved?
a. Processing fee is charged by lenders on the home loan. Usually, Banks and NBFCs charge either a fixed amount or some percentage of the loan amount.