If you want to know how to get a loan to build a house, then you are at the right place. Today you will be given information about Makan Banane Ke Liye Paise Chahiye Loan Kaise Milega.
Sometimes, someone needs to build a house. In such a situation, when they do not have enough money to build the house, they are very upset.
But now you will not have this problem for long. This is because today we will tell you how you can take a loan if you want to build a house for yourself. For this, you will have to read the article till the end.
Here we will tell you what is a home loan, what is the eligibility for it, what documents are required, and what other things you should keep in mind. Let’s start now.
What are the eligibility criteria for a home loan?
If you take a loan for a house, then you will have to fulfill the eligibility criteria. For this, a list is given below.
- The age of the applicant should be between 18 years to 65 years.
- Applicants should be Indian citizens or NRIs.
- The CIBIL score of the applicant should be more than 750.
- The applicant should be a salaried person or self-employed.
- The minimum salary of the applicant should be ₹25000 per month.
With which documents does one get a loan for building a house?
Let us now know which documents you will need when you go to take a loan.
- Aadhar card
- PAN card
- Passport size photograph
- Bank statement
- salary slip
- Property related documents
What things should be kept in mind before taking a home loan?
If you are looking to take a loan to build a house, you will have to take care of some things. This is explained below.
1. Know the different types of home loans
When it comes to home loans, there are different types of home loans. These include combination loans, fixed-rate loans, floating-rate loans, etc. In such a case, you can also check the interest rates there.
2. What is the eligibility to take a loan
When you get information about different types of loans, then you have to check whether you are eligible to take that loan or not.
3. What is the loan amount
It is also very important that when you take a loan, how much amount are you getting there, whether that amount is sufficient for constructing the house or not, etc. In such a situation, you should choose the loan amount according to your need.
4. What is the EMI of the loan
You also have to check what is the EMI of the loan i.e. Equated Monthly Installment. In this, you have to pay the monthly installment to the lender every month, so check here how much amount you have to pay in this.
5. Which documents are required
Above we have given you information about which documents will be required if you want a loan for a house. In such a situation, you have to keep the main documents with you.
In this, you will have to keep KYC-related documents, income documents, and property documents safe.
6. What is the loan tenure
You also have to check what is the tenure of the loan you are taking. Will you be able to repay it in the given tenure or not etc?
What kind of precautions should be taken before taking a home loan?
Now we know, what precautions you should take when you take a loan for a house.
1. Take a loan from a trusted institution
You have to be most careful about this. You have to take a loan from such an institution from where many people have taken the loan and where the loan gets approved quickly.
2. Compare interest rates
First of all, you have to keep in mind the interest rate at which different banks are giving you loans.
In such a situation, you will be able to compare interest rates and you will be able to take the loan at the best interest rate.
3. What is your income
You also have to be careful about your income. This is because the bank gives you loans based on your income. In such a situation, you have to decide your income.
4. EMI should be small
If you take any kind of loan, EMI plays a big role in it. In such a situation, if the EMI is small, then you will be able to pay the EMI easily. You will not face any problem with this.
5. Find out the tenure of the loan
You also have to see for how long the bank is giving you the loan. That is, within how much time you will have to repay the loan. This will help you manage your finances easily.
How can I get a loan to build a house?
Let us know how you can get a loan to build a house. For this, first of all, you have to make sure from where you want to take the loan.
If you often prefer to take a loan from a bank, then you have to go to the nearest bank branch and then you have to apply there.
To apply, you have to fill out the application form, where you have to fill in all your details and attach the required documents.
After this, your documents are checked. If all your documents are correct, then your loan is approved.
| 3 Lakh Loan Without Documents |
Get an instant loan up to 3 lakhs by doing digital KYC (100% secure loan) |
| Loan by BOB |
Bank Of Baroda Personal Loan: Take a loan only on an Aadhar card without any document |
| Take a loan from PM Mudra Yojana |
Apply for Pradhan Mantri Mudra Yojana, and will get a loan of up to Rs 10 lakh |
| loan without income proof |
Get an instant loan of up to ₹10 lacks by completing KYC at home |
| Aadhar Card Loan | |
| Loan in just a few minutes | |
| Loan On Mutual Fund |
How much loan can I get for a house?
Now let us talk about how much loan you get when you take a loan to build a house.
Look, it depends on whether you are self-employed or a salaried person. Apart from this, what is your salary?
It also depends on your CIBIL score. Keeping all these things in mind, banks or financial places give loans.
What are the interest rate and processing fees charged during the loan?
If we talk about the interest rate of the loan, then it depends on which bank you are taking the loan from. If we talk about the average interest rate in this, then it is between 6% to 8%.
Sometimes you also have to pay processing fees. Different financial institutions charge you different amounts of processing fees. In this, 2% to 3% of the processing fee is charged to you.
Which banks provide home loans?
Let us now know which are the banks from where you can get a loan for a house. Its list is given below.
- HDFC Bank
- yes bank
- Punjab National Bank
- ICICI Bank
- Federal Bank
- State Bank Of India
- Union Bank Of India
- Bank Of Baroda
Advice
Today you were told how to get a loan for building a house. It tells you how you get this loan, what things you should keep in mind, etc.
We hope you liked the article, so stay tuned with us for more similar tips and tricks.
