Home is the only place where we get much happiness and relief from every type of tension and stress in the home After you start earning money, the most prominent dream is that you also have your own home, but for buying or building a home, you need lots of money. which will take a lot of time to collect that much money, So to get rid of this issue many people apply for home loans to get money from banks to build their dream houses, do you also want to know How to Apply for Home Loan in India? if yes then you can read this article.
To take a home loan, you have to know about many things, such as the interest rate on taking a home loan. What are the documents required to avail of a home loan?
However you can apply for a home loan offline and online too, but we will tell you How to Apply for Home Loan online in India because there is more chance to get a quick loan for your home.
If you are facing a problem while applying for a home loan then, then this article will be very helpful for you so read this article carefully.
What is Home Loan?
Basically, There are many kinds of loan services provided by the bank, and one of the loans is also called a home loan. Under a Home loan, you can apply for money and after approval, the bank will provide Money to build your home at some interest rate. We will share the complete process via this article, which will be helpful for you.
There are various conditions for applying for a home loan, if you fulfill all of the conditions, then you can easily get a home loan.
What is SBI Home Loan?
If you are a resident of India then you are eligible and you can apply for an SBI home loan. Below we have shared some of the main highlights and main features of the SBI Home Loan that you will get on applying for a home loan.
- low-interest rate
- low processing fees
- No hidden charges
- No any kinds of pre-payment penalty
- Repayment plan up to 30 years
Eligibility for a home loan
If you want to apply for a home loan then you should be a citizen of India and your age must be at least 21 years to become eligible for a home loan.
Documents required for taking a home loan
- Address Proof
- identity proof (Aadhar Card/Voter ID Card)
- Source of income
- Income Tax Return (for the last three years)
- Property Details
- Bank Account statement
- Good Civil Score to get interrupted Home loan.
Criteria for Apply for Home Loan online
If someone has ever tried to take or apply for a home loan offline then they may know how difficult and lengthy the process is. But if you don’t want any issues and want to get a quick home loan then you can apply for a home loan online. With the help of this, you can apply for a home loan sitting at your home.
If you are applying for a home loan then it is very important for you to compare the Interest rate before taking a home loan because many lenders give you a home loan very easily but for this, they charge almost the interest rate of 10-13% or sometimes they can charge more. Sometimes lenders also charge lower interest rates.
So for this reason you can apply online for Home Loan only after comparing the interest rate offline. Now let’s know How to apply for a Home loan online in India:-
Step 1:- To apply for a home loan online, you need to visit the portal of SBI Home loan https://homeloans.sbi/.
Step 2:- Check your eligibility for applying for a home loan and then fill the details in carefully so that your process can be completed as soon as possible.
Step 3:- Now Select Home Loan and tick on whatever document you have.
Step 4:- Upload your ITR (Income Tax Return) and Bank Statement.
Step 5:- After this, you have to provide your basic details and information. After giving your details your profile will be ready.
Step 6: – Now select the type of loan that you want to take, in our case we are applying for a home loan so you will select home loan after that choose the loan amount and how much loan is needed.
Step 7:- After this, the list of all banks will appear in front of you who are ready to give you a loan for a home, You can choose the bank after comparing the interest rate and then just select the bank from which you want to take a loan and click on the Proceed button.
Step 8: – Now select the branch of that bank from where you want to take a home loan, here you can choose your nearest branch, after completing all the processes you will get the final letter in which all the information is provided.
In the letter, all the important details are written such as how much the loan has been approved, what are the interest rate and how much EMI you have to pay in a month.
After receiving the letter pad you need to visit the nearest branch of the bank with all your documents. The agent will verify all your details when all details are confirmed, then your home loan amount will also be credited to your bank account after a few days.
So in this way you can apply for Home Loan Online, we have given complete information. in this article, if you have any questions, then you can ask by writing in the comment box below.