Home purchasing in India has never been this easy and approachable. The credit for the same goes to home loans. Among so many leading companies that provide customers easy loan options, well established ones are surely considered to be the first choice.
Loan Application Requisites
The banks and lending institutions often follow the rule for maximum loan for salaried employees and keep your loan amount 60 times more than your net monthly salary. Also the maximum amount you can avail is the loan upto 75% of property value.
Your earning should look promising to pay back in the future.
In case you have any ongoing loans like auto loan or personal loan, you will not be eligible to take a home loan.
Some important documents required are address proof, income proof, identity proof, salary slips and statement of bank account in which the salary is credited.
Purchasing your dream home and getting it customised according to the needs of your family cost you heavily and lending institutions understand that. many companies offering dda home loan in Dwarka offer you an additional amount of loan over and beyond your home loan to meet those extra needs.
Part Prepayment Facility:
If you have successfully paid your first EMI, it is possible for you to make prepayments for your loan. While your monetary situations may differ from time to time, some people prefer to make chunk payment as and when it is possible to ease of the pressure in future. This allows them to pay as many EMIs as possible although the limit may differ from lender to lender.
Purchasing your home with your own money can give you the benfit of refinancing. This allows you to take a loan against property if the property has been registered.
Prompt Repayment Benefit:
If you have a good track record of paying your EMIs on time, then the lender rewards you for the same. After paying the first 12 EMIs, you can avail a 0.5% of the annual interest paid returned by the end of 12 months. This facility is provided by only some lenders and can be enjoyed in the first three years of your total loan tenure.
Zero Foreclosure Charges:
Home loan can be foreclosed at any time during the tenure. There are no foreclosure charges if you decide to do so.
Online Account Access:
Most financial companies nowadays have an online customer portal which gives details like interest certificate, payment schedule and pending EMIs. The customer creates an account on their digital portal and can access all this information right from there. They can even pay there EMIs through these digital portals.