Home Loan | Home Loan Process | "BEST BANK FOR HOME LOANS?"

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About This Video :

this video is on home loan and we have discussed the full video in parts, initially we discussed what is the process of house registry which is also called as home sale deed, so we have discussed about sale deed and then we have discussed about home loan and the rate of interest offered by banks for home loans. we have discussed the rate of interest for some banks like sbi home loan interest rates, hdfc home loan interest rates and canera bank home loan interest rates etc etc.
we also have discussed the concept of fixed vs floating interest rates in home loan and one more point , many people say home loan as housing loan also, so there is no need to get confuse in home loan and housing loan.

Step-by-Step Home Loan Process in India
1. Pre-Application Stage

Step 1: Assess Your Eligibility
Age: Typically 21–65 years (salaried/self-employed)

Income: Minimum ₹25,000–₹50,000 monthly, depending on city/bank

Credit Score: Preferably 750 or above

Employment: 2+ years of stable job/business history

Step 2: Determine Loan Amount & Property Cost
Banks usually finance 75%-90% of property value

Balance is the down payment (you pay this from your own funds)

Step 3: Choose the Right Lender
Compare banks/NBFCs on:

Interest rates (fixed/floating)

Processing fees

Loan tenure (up to 30 years)

Prepayment/foreclosure charges

Customer service & digital access

Application Stage
Step 4: Submit Application Form
Online or at the branch. Details required:

Personal & employment details

Income & asset details

Property details (if already selected)

Step 5: Submit Required Documents
Basic documents include:

For Salaried Individuals:

PAN Card, Aadhaar

Salary slips (last 3–6 months)

Bank statements (last 6 months)

Form 16 / Income Tax Returns (last 2 years)

Employment ID card

For Self-Employed:

PAN, Aadhaar

Business proof (GST, registration)

Income Tax Returns (last 2–3 years)
Profit & Loss and Balance Sheet (CA certified)

Bank statements (last 6–12 months)

Property Documents (if identified):

Sale Agreement / Allotment Letter

Title deed

NOC from builder/society

Approved building plan

Encumbrance certificate

Sanction Stage
Step 6: Credit Appraisal & Background Check
Bank verifies:

Your income & repayment capacity

Credit score & report (CIBIL or Equifax)

Employment or business stability

Existing loans and liabilities

Step 7: Loan Sanction / Approval
If approved, you receive a Sanction Letter with:

Loan amount

Interest rate (fixed or floating)

Tenure

EMI and repayment terms

Conditions (e.g., insurance, co-applicant, property papers)

4. Property Verification & Legal Check
Step 8: Property Valuation & Legal Scrutiny
Bank verifies:

Property title, chain of ownership, NOC from authorities

Property valuation to ensure market value

Legal due diligence (done by bank’s empaneled lawyer)

Disbursement Stage
Step 9: Sign the Loan Agreement

Loan agreement

ECS/NACH mandate for EMI auto-debit

Other documents like indemnity, insurance, etc.

Step 10: Disbursement of Loan
For under-construction: Disbursed in stages based on builder demand

For ready-to-move: Full disbursement at once

Amount credited directly to builder/seller (not borrower)

6. Post-Disbursement
Step 11: EMI Repayment Begins
EMI starts after full disbursement or as per schedule

For under-construction, you may pay Pre-EMI (interest only)

Step 12: Track Loan & Statements
Use bank’s app or portal to monitor:

Outstanding loan balance

EMI due dates

Interest certificates for tax benefits

Tax Benefits (Under Income Tax Act)
Section 80C: Up to ₹1.5 lakh deduction on principal

Section 24(b): Up to ₹2 lakh deduction on interest

Section 80EE / 80EEA: Additional benefits for first-time homebuyers

A home loan is a secured loan in which a borrower takes money from a lender (bank or NBFC) to purchase or construct a house. The property itself is kept as collateral (security) until the loan is fully repaid.

A home loan with best bank is an ideal financial solution for individuals looking to purchase, construct, or renovate a house without bearing the entire cost upfront. Choosing a home loan with best bank ensures not only competitive interest rates but also a smoother and more transparent borrowing experience. Leading lenders in India offer flexible repayment options, quick processing, and excellent customer support, making the decision to opt for a home loan with best bank for home loan a wise step toward achieving your dream of homeownership. Whether you're a first-time buyer or planning to upgrade, securing a home loan with best bank for home loan can significantly ease your financial burden while offering long-term tax benefits and security.