Compare and choose

When choosing a home loan, it’s important to consider various factors such as interest rates, fees, repayment options, and the loan term. Here are some common types of home loans:

All India

Home Loan Inquiry


Bank Information for Home Loans

Sure, here is some information on home loans from banks: Banks offer a range of home loans to suit different borrowers’ needs. Here are some features you may find with bank home loans:
  1. Interest rates: Banks offer both fixed and variable interest rates. The interest rate you receive will depend on a range of factors such as the loan amount, the loan term, and your creditworthiness.
  2. Fees: Banks may charge various fees, such as application fees, ongoing fees, and early repayment fees. Be sure to check the fees and charges associated with the loan before applying.
  3. Loan features: Banks may offer a range of loan features such as offset accounts, redraw facilities, and the ability to make extra repayments. These features can help you save money on interest and pay off your loan faster.
  4. Loan types: Banks offer a variety of home loan types, including owner-occupied loans, investment loans, construction loans, and refinancing loans. Be sure to choose a loan that suits your needs.
  5. Pre-approval: Some banks offer pre-approval for home loans. Pre-approval gives you an indication of how much you may be able to borrow, which can help when house hunting.
  6. Online application: Many banks allow you to apply for a home loan online. This can be a convenient option if you’re comfortable with technology.
When considering a bank home loan, it’s important to compare different loans and choose one that suits your needs and budget. You should also consider seeking professional advice from a mortgage broker or financial advisor to help you find the right loan for your circumstances.

Interest= 9%

Years= 1-30

GST= 3000

Interest= 9%

Years= 1-30

GST= 3000

Interest= 9%

Years= 1-30

GST= 3000

Interest= 9%

Years= 1-30

GST= 3000

Interest= 9%

Years= 1-30

GST= 3000

Interest= 9%

Years= 1-30

GST= 3000

Home Loan Buying Process

One of the most important choices you’ll ever make is whether to buy the house of your dreams. This is the reason why you should do extensive study before you enter into a long-term repayment agreement with a lender. Here is a brief explanation of the steps involved in applying for and receiving a house loan, from the initial application through the final disbursement of funds.

In this video, we are going to talk about the process of availing a home loan. As a homebuyer, you should know where this process comes in place in the entire home buying journey, what is a loan application and how should you fill it, when and how to negotiate, thus giving you an entire roadmap on the process of availing a home loan so that you can save both time and money.

  • Step 1: Finalise the property

    There are two types of property that you can buy- ready-to-move and under-construction. In both cases, loan agreement and loan disbursal stage, which are the final step, varies slightly. We’ll talk about it when we come to it. In the first stage, if you are not buying the property with 100% cash, you will require a home loan. So, finalise your property and get set for loan shopping.


  • Step 2: Filling up loan application

    Once you have finalised the property, homebuyers need to fill a loan application. Homebuyers should enquire about various offers, home loan interest rates, documents required at this stage. At this stage, you can also negotiate the processing fee with the bank.

    You can start a loan inquiry. For this, you should start comparing interest rates online. This is the easiest way to understand the bank that will provide you the best and lowest home loan interest rate. You can also find all the details on the dedicated home loan page on Post this, you can directly generate an inquiry with the bank either by approaching the nearest bank branch or using the bank’s website.

    During the inquiry, you can negotiate for the best available rates. Many homebuyers do not know that the home loan interest rate is negotiable. On the basis of your good credit score and income, banks can give you a good interest rate as well. So be aware and ask for it at this stage before it’s too late.

    At this stage, you should also know that an additional expenditure also comes in the form of processing fee which can be anywhere up to 1% of your loan amount. This is also negotiable and most banks will agree for anything between 0.25-0.5% of the loan amount as processing fee.

    You will also have to pay a fee for due diligence that the bank will do for you. It may happen that banks lower the processing fee but ask you for a higher charge for due diligence. It is important that you clarify this early on, to avoid spending more than what your budget permits.

    The next step is related to documents. Salaried and self-employed borrowers need to provide separate documents to the bank so that the bank can assess the financial health of the homebuyer. You can refer to the list below. Some of the common documents included are as follows. You can keep these ready whenever you proceed to apply for a home loan. Remember that you should pay the processing fee only to the bank that you feel is giving the best interest rate.

    List of documents common for both salaried and self-employed individuals:

      • Loan Application form (completely filled)

      • Passport size photographs

      • Identity Proof Documents Such as PAN Card, Driving License, Passport, Voter ID Card, etc.

      • Residence Proof such as electricity, water or telephone bill, ration card or any other government-issued ID proof that contains your residential address.

      • Copy of bank account statement/passbook entries for the past 6 months

      • Signature Identification proof from current bankers

      • Statement of Personal Assets and Liabilities

    List of documents that are different for salaried and self-employed individuals. This may change from time to time or depending on the bank.

    Salaried IndividualsSelf-Employed Individuals
    Original Salary Certificate from Employer/Last 3 months’ salary slipsAcknowledged copies of Income tax returns/assessment orders for the previous 3 months
    TDS Certificate of Form 16 or Copy of Income Tax returns for the last 2 fiscalsPhotocopies of challans as evidence of advance income tax payments
    Proof of job stability from the current employerProof of business continuity
    In case the salaried employee has changed jobs in the last 1 year, copies of the offer and joining letter of the new company need to be submitted. 

  • Step 3: Bank’s due diligence

    Banks will not give you a home loan without assessing your financial background, your repaying capacity, the legality of the property, and other details based on their field investigation. This is the next step where the bank does due diligence.

    Your bank statements, savings, transactions, investments, business activity, credit and repayments, bank balance, cheque bounces – all these are studied by the bank. Now suppose that your cheques have bounced or been returned in the past- this can lead to ineligibility to get a home loan. The bank also studies your liabilities and loans.

    After this, the bank sees your net income and credit score. A score of 750 and above indicates a healthy credit score and banks are usually willing to give you a better (lower) interest rate.

    Not just financial health, banks also check your personal details through a field investigation where they check your residential address and contact details. A bank representative may visit your home to confirm such details. Do note that the nature and sector of your job also impact and determines whether you are eligible for a home loan. For example, sectors where there is a risk of job loss or instability, high attrition, are often not considered good. The field representative usually determines this.

    The property that you are going to buy is also checked. The property’s condition, quality, encroachments, valuation- all these aspects are checked by the bank. If the property is under construction, then the construction progress, its quality, building plan, and layout are also carefully examined. This is the technical due-diligence stage.

    Next is the legal due diligence stage. Ownership and encumbrance related documents are checked. In the case of unestablished ownership or a third party’s claim on the property, banks do not approve of the home loan. This is also one of the reasons why taking a home loan is beneficial in many ways. Banks check the entire title deed, possession certificate, sale agreement, etc. It will help you make an informed decision. Even in the case of an under-construction property, banks study and examine land ownership, allotment letters, builder-buyer agreement, project approval documents, etc.

  • Step 4: Estimating your creditworthiness and loan eligibility

    Once banks establish that the property you are interested in is sound and free of legal hassles, it does a deep-dive into your creditworthiness. For this, banks study your repayment history and check for defaults. You can even get a higher loan amount in case you have been able to maintain a good credit score, throughout.

    At this stage, banks assess your EMI repayment capacity based on your income and liabilities, if any. For example, Amit has an income of Rs 50,000 per month and a car loan liability of Rs 10,000 per month. The total disposable income of Amit is Rs 40,000 per month. Banks consider it good if your EMI is not more than 50% of your disposable income. In this case, therefore, Amit can spend Rs 20,000 per maximum as EMI, and therefore, the home loan sanctioned may roughly be between Rs 20-25 lakh. It depends on different banks, how they assess and calculate your repayment capacity. In short, banks check the Loan to Value ratio and do not sanction more than 80-90 %. It also checks your income, age, company, nature of work, etc to calculate your home loan eligibility.

  • Step 5: Accepting the offer letter

    After various checks, the bank sends you an offer letter with the final loan amount mentioned in it. If you sign, it is considered as accepted formally. You can then sign the loan agreement. After this, the bank hands over the DD to the seller and you can take possession of the property.

    The offer letter clearly mentions the sanctioned loan amount, rate of interest- whether fixed or variable. Fixed interest rates are higher than variable but even fixed is not altogether a fixed rate, these could be floating rates as well and could be fixed for a certain period. It totally depends on you whether you choose, fixed and floating rate or variable. The offer letter also mentions the tenure, number of EMIs to be paid, mode of repayment whether post-dated cheques or electronic clearing; schemes availed such as PMAY or bank offers, validity, terms, and conditions, etc. You should sign the offer letter only if you are satisfied with the offer. Do remember to check the sanctioned amount.

    Pro Tip: If you can arrange some finances from friends and family, you can also ask the bank to reduce the loan amount sanctioned.

    The next step is the loan agreement. All borrowers need to sign it in case of a joint home loan. If you have planned to opt for post-dated cheques as repayment option, banks collect cheques equivalent to the loan amount at this stage, for security.

    In the case of an under-construction property, the process is slightly different. A tripartite agreement is signed at this stage between the bank, borrower, and builder.

    The loan disbursement stage for an under-construction property is different and depends on the progress of construction. Accordingly, the bank pays the builder directly and all the original documents are collected from you by the bank.

    The sale deed is signed in the case of a ready-to-move property. The day it is signed, the DD is directly handed over to the seller. Prior to this, the bank will check whether you have made any down payment and whether the sale deed has been registered at the sub-registrar’s office. Even in ready-to-move property, banks keep all the original property papers. Do keep photocopies of all the documents that you have submitted in the bank.

Online lease agreements that are signed by both parties and executed on electronic stamp paper are recognised as legal contracts. Online lease agreements are acceptable evidence of address.

You won’t need a hard copy because the entire process is done online. You can download a PDF version of this agreement or request a copy be sent to your email address.

The rent agreement can be digitally signed by the landlord and the renter. You have two options for signing the online lease: either draw your signatures or select the “Customized text” format. Please take note that digital signatures are a secure and legal way to sign documents electronically, including online rental agreements.

The electronic lease agreement is written on paper with a denomination value of Rs. 100.

A 12-month rent period is considered a lease arrangement, and as a result, various laws apply and make the procedure more difficult for both the tenant and the landlord. The regulations pertaining to leases do not apply to rent agreements that are written for a duration of up to 11 months since they fall within the category of leave and licence agreements. There is no registration need for rent contracts with an 11-month term. This also holds true for online lease agreements. Therefore, these documents can be signed and performed online and are legitimate in law.

Currently, the Housing Edge platform offers a pre-existing set of terms that essentially cover every aspect of your online lease. Your online lease agreement allows you to specify the security deposit amount and notice time. Soon, we hope to add more customizations.

An online rent agreement can be made in a matter of minutes utilising the Housing Edge platform.

Using the contact information you provided, the Housing Edge platform sends the link to the second party through email and SMS. We will notify the first party and send them a copy of the audit trail as soon as the online lease is signed.

GST, processing fees, and stamp duty are included in the INR 699 fee for creating an online lease agreement. The stamp duty is paid out of this sum in the amount of Rs 100, with the rest money going towards convenience fees, taxes, etc.

An online rent agreement must have a digital signature in order to be executed, so the signature can be made from anywhere in the world at any time.

Yes, you can add up to 5 renters to a single lease.

Once the online lease agreement has been signed, we will transmit a soft copy of the contract to you along with an audit trail that includes all of the IP addresses, device information, and other information that the other party used to sign the contract.

You can retain the soft copy of the online lease agreement for your records because it is signed and executed digitally. There is no need to print the rental agreement online.

The online rent agreement can be created without the use of any documents. However, keep the landlord’s or tenant’s contact details close at hand because you’ll need them when you’re writing the draught.

According to the Information Technology Act (IT Act), 2000, digital signatures, also known as e-signatures, have the same legal standing as handwritten signatures. Digital signatures are just as legally binding as traditional ones.

For further information on T&C,