If you’re looking to be the king of your own castle then taking out a Home Loan is the way to go. Here are three Home Loans that are sure to get your pulses racing.
Are you tired of paying rent every month or dealing with cranky landlords and pesky neighbours? Well, there’s no reason why you can’t get a place of your own. If you have a good Credit Score and you have your finances in order, then getting a Home Loan should be a piece of cake.
However, we know it can be quite confusing when it comes to choosing the best Home Loan for yourself. After all, with the incredible array of choices available in the market at any given time, it’s almost akin to looking for a needle in a haystack.
But fret not! This is exactly where we come in. To make your job a whole lot easier, we’ve put together a short but ultra-sweet list of three Home Loans that are sure to pique your interest.
Remember though, if your Credit Score is down in the dumps better bring it back up to scratch before applying for a Home Loan. A high Credit Score of at least 750 or above can certainly improve your chances of getting a Home Loan sanctioned drastically. So make sure you work on bringing it up sooner rather than later.
Additional Reading: The Importance And Benefits Of A Good Credit Score
So, without further ado, here are three Home Loans that should cover everything you’re looking for and then some:
The DBS Home Loan comes with an extremely attractive, minimum floating interest rate of 9%. Depending on your eligibility, you could get a loan sanctioned for Rs. 50 lakhs up to a maximum of Rs. 5 crores.
The minimum tenure offered on this loan is 1 year while the maximum repayment tenure is 25 years. As far as documentation goes, all you need is your KYC-PAN, address proof, ID proof, income proof, bank statement and one photograph.
However, what you’ll certainly love about the DBS Home Loan is that it comes with no pre-closure and part payment fees. In fact, you won’t require a guarantor either. However, a one-time processing fee of Rs. 10,000 plus taxes will be charged, so that’s something to consider if you’re looking to save on fees.
Additional Reading: 6 Smart Ways To Manage Your Home Loan EMIs
The Aditya Birla Housing Finance Home Loan is a great choice for anyone looking to take on a Home Loan at a low-interest rate. This Home Loan comes with an attractive floating interest rate that starts at 8.55%. The quantum of the loan on offer starts at a minimum of Rs. 20 lakhs and goes up to a maximum of Rs. 10 crores.
The minimum tenure offered on this loan is 1 year while the maximum repayment tenure is 30 years. The only documentation you’ll need is your KYC-PAN, address proof, ID proof, income proof, bank statement and one photograph.
Another attractive feature of this Home Loan is that it comes with no pre-closure and part payment fees. While you won’t require a guarantor to apply for this loan, the bank requires a co-applicant, so that’s something you’ll need to keep in mind.
Also, keep in mind that a one-time processing fee ranging from Rs. 5,000 – Rs. 10,000 plus taxes is applicable on the successful approval of this Home Loan.
Additional Reading: How You Can Maximise The Benefits Of A Home Loan
And finally, we have the Sundaram BNP Paribas Home Finance Home Loan to wrap things up. This Home Loan comes with extremely attractive floating interest rates starting at 8.90% while the quantum of the loan on offer ranges from Rs. 12 lakhs to Rs. 5 crores.
The minimum tenure offered on this loan is 1 year while the maximum repayment tenure is 20 years. The documentation is quite simple as well. All you’ll need is your KYC-PAN, address proof, ID proof, income proof, bank statement and one photograph.
Women applicants can benefit from this loan since it offers interest rates at 0.05% for women borrowers. No part payment and pre-closure fees are charged and you won’t require a guarantor for this loan either.
If you’re wondering about the processing fee, it’s 0.50% of the loan amount plus tax for salaried applicants and 1% of the loan amount plus tax or Rs. 3,000, whichever is lower, for self-employed applicants.
Additional Reading: 5 Smart Ways To Pay Off Your Home Loan Faster
The cool thing about all these loans is that you stand to get an Rs. 5,000 Amazon voucher on successful approval of your application. So, don’t hesitate. Apply now and move into your dream house in no time at all.