Home Loan in Bangalore

Bangalore, also known as Bengaluru is a city located in Karnataka in the heart of South India. Recently, the city was given the tag of one of the most livable cities in India. The city's biggest assets are its pleasant weather and its corporate hub. That makes the city one of the best places to shift to for work.

However, property prices in Bangalore are quite high because of the huge demand. Hence, it might not be easy for people to pay for a house out of their own pocket. But that is where home loans come in! A home loan can help you bring your dream of owning a house in Bangalore to life!

If you're looking to buy a home in Bangalore, a home loan can be really useful. Here is everything that you need to know about opting for a home loan, in Bangalore.

Want to know more?

Application process

Application process for a home loan can be done entirely online. Piramal Capital & Housing Finance has a hassle-free application process. Furthermore, a dedicated representative from the company will guide you through the entire process.

Eligibility criteria

Home loans have a very basic eligibility criteria. Both salaried and self-employed individuals can apply for a home loan.

  • For salaried individuals
    Any person above the age of 21 can apply for a home loan in Bangalore. The upper age limit to apply for a home loan is 70 years for government employees and 62 years for non-government employees. Retired individuals who do not receive pension are not eligible for a home loan. You can be employed in government institutions, public sector undertaking companies or private sectors.
  • For self-employed

    Individuals between the age of 23 and 70 years are eligible to apply for a home loan. This includes self-employed professionals like doctors, chartered accountants, designers and architects. Business owners and other self-employed non-professionals are also eligible to apply for a home loan.

  • Lastly, a co-applicant must be there in order to be eligible for a home loan. Any first blood relative or your spouse can be a co-applicant.

Documentation

Applicants need to submit a set of documents before the approval of the loan. Here's what is needed.

  • Recent photograph
    You need to submit a recent photograph of yourself along with the application form.
  • Proof of identity
    You have to produce any of the following documents as a proof of identity.
    • Aadhar card
    • Voter's ID card
    • Driving license
    • NREGA job card
    • NPR-issued letter
    • Passport
  • Proof of income
  • Proof of income is different for salaried and self-employed individuals.

    Salaried individuals can produce any of the following:

    • Salary slips of last 3 months
    • Latest bank statement with salary credit
    • Latest bank statement without salary credit, along with salary slips.
    • 2 Years’ Form 16

    Self-employed individuals can produce any of the following:

    • IT Returns of the last two financial years
    • Audit of financial statements by a CA
    • Recent bank statements

Interest rates

Home loans at Piramal Capital & Housing Finance come are available at affordable interest rates. They begin from10.50%* p.a.

Fees and Charges

A very small percentage of the total loan amount is charged as a processing fee. All the charges are mentioned on the application form and there are no hidden charges.

Why should you buy a house in Bangalore?

Bangalore is a metropolitan city that is the face of developing India. Its citizen-centric policies, job opportunities and accessibility to resources makes it one of the best cities to live in. If you feel a home loan can provide you with the opportunity to own a home in Bangalore, you can visit Piramal Capital & Housing Finance’s loan options from its website.