Frequently Asked Questions
What is a home loan?
A home loan is a secured loan that allows you to borrow money to purchase a house or property. The property itself acts as collateral for the loan.
How much home loan can I get?
The loan amount typically ranges from ₹1,00,000 to ₹10,00,00,000, depending on factors like your income, credit score, property value, and loan tenure.
What is the tenure for a home loan?
Home loans typically have a repayment tenure ranging from 5 years to 30 years, depending on your age, income, and lender's policies.
Do I need collateral for a home loan?
Yes, home loans are secured loans, meaning the property you are purchasing will act as collateral to secure the loan.
What are the eligibility criteria for a home loan?
To qualify for a home loan, you typically need to be between 21 and 65 years of age, have a stable income, and maintain a good credit score (usually above 650).