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Thread: Enquiry about Home Loan

  1. #1
    NewBie
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    Question Enquiry about Home Loan

    Hi,

    I just wanted to know the limit of home loan scheme, I can get. I am presently working in a multinational company, how many days it will take to grant me home loan.

    Regards
    Pramod



  2. #2
    Moderator CONFUSED's Avatar
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    The standard is 48 times your gross salary. Most nationalised banks offer only 85 per cent of the cost of the property. But there are banks that will offer you up to 100 per cent of the loan amount, provided you can show them that you have the capacity to repay.

    But remember there is stamp duty, registration and other charges that will work out to around 10 per cent of the cost of the property. Take that into your calculations.
    Rules/Guidelines at PolicyWala | Help Old People |
    I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.

  3. #3
    PolicyWala Member
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    Quote Originally Posted by pramod View Post
    Hi,

    I just wanted to know the limit of home loan scheme, I can get. I am presently working in a multinational company, how many days it will take to grant me home loan.

    Regards
    Pramod
    If your papers are complete than in Pvt. Bank it normally take around 7-10 Days. PSU banks no idea.

  4. #4
    NewBie
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    Generally banks will provide 85% loan for home loans. Mostly it takes 1 month for documentation process and registration process. For home loan, the mandatory documents like Aadhar card, PAN Card, Age Proof, 3 months payslips and recent bank statements, Property documents will be required. After confirmation and validation of the documents the amount depends on your income and the amount of loan that you required will be issued.


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