Bankaspot or its associate will never demand any money for getting the loan processed. Any person/institution doing so will be solely doing at their own risk. Bankaspot will not be responsible for this act. If you find any person/institute doing this; Please call us immediately at given contact numbers or mail us at info@bankaspot.com.

0164-2910238,70979-64000   |   SCO-2,1st Floor, DD Mittal Tower Shopping Complex, Bathinda

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New Home Loan

Home New Home Loan
  • Overview

    About Home Loan

    Home loans are given to individuals who are interested in buying/constructing houses. It is supported by banks or financial institutions who loan a certain amount, based on the need of the individual(s). Loans can be applied for purchase, construction or improvement of homes.

    Characteristic of Home Loan

    • The asset i.e. your home/property is pledged as security collateral. In case of failure of payment of the loan on a timely basis, the bank/lender would be entitled to retrieve the asset.
    • The loan amount varies, with minimum amount being Rs 2,00,000/-
    • The repayment time period, which ranges upto 30 years, is fixed based on the amount taken as loan and includes the outstanding principal plus the interest costs.
    • The principal amount and the interest together constitute the EMI (Equated Monthly Installment) of the loan.
      • The loan charges include registration charge, fee for processing, prepayment penalty, commitment charge and miscellaneous charges for documentation & consultation.

    Types of Home Loan

    • Home Purchase Loans
    • Land Purchase Loans
    • Home Construction Loans
    • Home Improvement Loans
    • Home Conversion Loans
    • Home Extension Loans
    • Bridge Loans

    Documents Required for Home Loan

    • Duly signed and filled application form
    • Passport-size photograph
    • Statements of investments, if any
    • Copy of plan approved for the proposed construction/extension
    • Cost estimation or valuation report from the bank's (or finance company's) panel CA
    • Allotment letter of housing board/NOC of the society/builder etc.
    • Bank statement and salary slips
      • In addition to these, you will have to also submit the following documents:
    • Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
    • Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
    • Age Proof - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.
  • How do we help you to borrow right?
    • As per our mission to provide “best banking product and services according to customer needs” Bankaspot provides you the service with an unbiased platform to analyze and decide upon the best available deals in the market according to your needs
    • We offer a customized loan consulting experience to each customer as per their needs.
    • Our experienced loan consultants help you to understand which is the bank and product for you
    • We make sure that your documents are in order as per bank’s requirement.
    • We make the process smooth, efficient and easy with over the counter service.
    • We take care of any issues and quick resolution of that issue to get the loan disbursed in very short time.
  • Point To Be Considered Before Taking A Home Loan
    • Share all the accurate information at time of filling up of application form. Bank will process your loan based the information you provide in application form.
    • Processing fees are deducted from Loan amount and thus do not pay any fees in cash to anyone to process your loan sanctioning. If anybody demand this kind of fees; immediately contact us on our given contact no. in contact us segment or mail us at info@bankaspot.com
    • There should be no any delay in pay of EMI of your previous loans with any other banks because this will affect your CIBIL score.
  • Eligibility Criteria
    Eligibility Criteria of Home Loan
    • As mentioned earlier, the home loan eligibility is determined by various factors including income, employment status, loan tenure and so on.
    • Any Indian citizen in good standing who is salaried, self-employed or business person with regular source of income can apply for a home loan.
    • The applicant should be above the age of 21 years
    • Professional stability and savings history play a major role in approval of the loan
    • Bad credit history would prove to be a put-off, especially anytime within 3 months prior to applying for home loan.
    • For Business men and Self-employed individuals, the values of loan you are eligible for is majorly determined by the profits and turn over earned by you.
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