Instant Home Loan
A home loan, usually referred to as a mortgage, is a kind of loan given by financial organizations, like banks or mortgage lenders, to assist individuals or families in buying a property. It is a long-term loan that must be repaid over a long period of time, usually between 15 and 30 years, with consistent monthly payments.
Where You Can Use an Instant Home Loan
- Buy a new or resale residential property
- Construct a house on your own plot
- Home renovation / remodeling (kitchen, flooring, interiors)
- Home extension (add a room/floor, boundary, balcony)
- Balance transfer to lower interest rate
Who It’s Ideal For
- Salaried applicants with stable income (private/public sector)
- Self-employed professionals & business owners with documented income
- First-time home buyers seeking quick digital approval
- Existing borrowers looking for balance transfer & top-up
Get a Personal Loan upto ₹25 Lakh in 30 Minutes*
100% digital and secure process, 45% lower EMIs starting at ₹1104/Lakh, Pay interest only on what you use with flexi loan.
What is a Home Loan?
A Home Loan is a long-term credit facility that helps you purchase, construct, renovate, or extend a residential property. Based on your income, credit profile, and property documents, banks/NBFCs offer a sanctioned amount that you repay via EMIs over a defined tenure.
🔹 How It Works
Apply with your KYC, income proof, and property papers. Post verification, valuation, and legal checks, the lender disburses the loan (full/part-linked to construction stage) and you repay via EMIs.
Features & Benefits of a Home Loan
High LTV
Up to ~90% of property value as per RBI/LTV norms & profile.
Long Tenure
Flexible EMIs with tenures up to 30 years (lender policy).
Tax Benefits
Potential deductions on principal & interest as per IT Act (subject to rules).
Multiple Uses
Purchase, construction, renovation, extension, or plot+build options.
Balance Transfer
Shift loan to lower rate; add top-up if eligible.
Regulated & Secure
Standardised processes—valuation, legal, and disbursal safeguards.
How Does a Home Loan Work?
Provide personal, financial, and basic property information.
Compare eligible offers by rate, fees, LTV, tenure, and processing time.
Upload KYC, income proof, and relevant property documents.
Income underwriting, legal check of title, and technical valuation.
Get sanction letter; disbursal as per ready/under-construction stage; start EMIs.
Home Loan Eligibility Criteria
| S.no | Criteria | Salaried | Self-Employed |
|---|---|---|---|
| 1 | Age | 21–60 years | 30–70 years |
| 2 | Minimum Annual Income | ₹1 lakh p.a. | ₹1.5 lakh p.a. |
| 3 | Tenure Duration | 12–360 months | 12–300 months |
| 4 | Minimum Experience / Vintage | 3 years employment | 4 years business vintage |
Eligibility varies by lender, city, property type, FOIR/DBR, and risk grading.
Documents Required for a Home Loan
- Identity Proof (any one): Aadhaar / PAN / Voter ID / Passport / Driving Licence
- Address Proof (any one): Any of above ID with address, Electricity/Telephone/Postpaid bill, Water/Property tax receipt
- Passport-size Photo: Up to 5 recent photos
- Bank Statements: Last 6 months
- Property Documents: Sale deed/Allotment letter, NOC, Possession/Occupancy certificate, Land tax receipt, Cost estimate (for construction), Payment receipts
- Income Proof: Salary slips/Form 16 (salaried) or ITR/Financials (self-employed)
- Loan Application Form: Duly filled and signed
Exact list may vary by case (ready-to-move vs. under-construction vs. self-construction).
Types of Home Loans
Home Purchase Loan
Buy a ready/under-construction property; LTV as per RBI norms (up to ~90%).
Home Construction Loan
For building on your own plot; disbursal linked to construction stages.
Home Renovation Loan
For repair/remodel; usually shorter tenure with smaller sanction.
Home Extension Loan
Increase area/rooms; sanction based on cost & LTV eligibility.
Plot Loan
Buy residential plot; may be combined later with construction loan.
Step-Up / Interest Saver
Lower initial EMIs or overdraft-linked accounts to reduce interest burden.
How to Apply for a Home Loan (Online)
- Share Your Details: Fill personal, income, and property info.
- View Offers: Compare interest rates, processing fees, LTV, and maximum loan size.
- Submit Application: Apply for the best-fit offer; get a reference number.
- Upload Documents: KYC, income proofs, bank statements, and property papers.
- Verification & Disbursal: Post approval and legal/technical clearances, receive funds.
FAQ – FinCrif Frequently Asked Questions
Calculate Your EMI Instantly
A Multi-Purpose Loan EMI Calculator helps you estimate your monthly repayment amount before applying for a loan. Whether it’s for education, travel, wedding, home renovation, or business needs—know your EMI and plan smarter.
0 / month
Principal
Interest
Total Payable
Repayment Schedule
| Month-Year | EMI | Interest | Principal | Balance |
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Compare the best Personal loan offers
IDFC First Bank
Starting at 9.99 % onwards
1%
₹ 1 cr
6 months to 5 years
Incred
Starting at 13.99 % onwards
0-1%
₹ 15 Lakhs
1 to 5 years
Bajaj Finserv
Starting from 10.25% onwards
0.5-3.93%
upto 55 lakhs
Upto 8 Years
Axis Bank
Starting at 10.49% onwards
0-1%
₹ 15 Lacs
1 to 5 years
TATA FLY
Starting at 18% onwards
1- 3%
₹25,00,000
1 to 6 years
Tata Capital
Starting at 10.99 % onwards
0-1%
₹ 35 lakhs
upto 6 Years
Bajaj Growth Location
NA
NA
NA
NA
HDFC Bank
Starting at 10.75% onwards
2.50%
₹ 40 Lakhs
1 to 5 years
Fibe
Starting at 18% onwards
2%
5 Lakhs
6 to 36 months
SMFG India Credit
Starting at 13% onwards
Up to 5%
Up to INR 30 Lakh*
1 to 5 years
Bajaj SOL
Starting at 13% onwards
0-4%
upto 25 Lakhs
1-5 years
Poonawalla Fincorp
Starting at 10.25% onwards
3%
50 Lakhs
1-7 years
Bajaj Prime Location
NA
NA
NA
NA
Axis Finance
Starting at 10% onwards
0-3%
₹ 50 Lakhs
1 to 7 years
Bandhan Bank
Starting at 9.99 % onwards
3%
₹ 35 Lakhs
1 to 5 years
Finnable
Starting at 12% onwards
0-1%
₹ 10 Lacs
1-5 years
FairCent
Starting at 9.99 % onwards
0-3%
₹ 10 lakhs
6 months to 3 years
Upwards
Starting at 18% onwards
0-2%
₹ 5 Lakhs
1 to 5 years
Moneyview
Starting at 14% onwards
2%
₹ 10 Lakhs
1 to 5 years
IIFL
Starting at 12.75% onwards
0-3%
₹ 1 lacs to 25 lacs
1 to 5 years
IndusInd Bank
Starting at 10.49% onwards
0-2%
50 Lakhs
1 to 4 years
Kotak Bank
Starting at 10.99 % onwards
0-2%
₹ 30 Lakhs
1 to 5 years
ICICI Bank
Starting at 10.25% onwards
0-1%
₹ 50 Lakhs
1 to 6 years
HDB Financial
Starting at 10% onwards
0-3%
upto ₹ 20 lakhs
1 to 5 years
Karur Vysya Bank
Starting at 11.15% onwards
0.50%
upto ₹ 75 lacs
1 to 6 years
Union Bank of India
Starting at 11.35% onwards
1.0%
upto 15 lakhs
1 to 5 years
Canara Bank
Starting at 10.95% onwards
0.50%
Upto 30 Lakhs
1 to 7 years
Federal Bank
Starting at 11.49 % onwards
2.50%
₹ 50 lakhs
1 to 5 years
muthoot finance
10.25%
0-3%
25 Lkahs
1 to 6 year
Yes Bank
Starting at 10.99% onwards
2%
₹ 40 lakhs
1 to 5 years
Aditya Birla Capital
Starting at 10.99 % onwards
2%
₹ 50 Lakhs
0 to 7 years