Do you know these 4 factors that help you get the lowest Interest Rate on a Home Loan in Dehradun?
- CREDIT SCORE: If this score exceeds 800 and is closer to 900, you can negotiate with your lender for a preferential interest rate.
- RESEARCH SKILLS OF THE APPLICANT: Research, compare, and select the best lender that gives you the lowest interest rate on a personal loan.
- NEGOTIATION SKILLS: You can negotiate with the lender if you have a good repayment history with other loans.
We At Financial Sarthi keep these tips in mind to help you avail loans at best interest rates.
Dehradun Home Loan Interest Rates and Charges
When applying for a Home Loan in Dehradun, Comparing different lеndеrs should always be a primary step. Let’s have a look below to know the same:
| Bank Name | Interest Rate |
|---|---|
| SBI | 8.75% – 9.50% |
| HDFC | 8.65% – 9.35% |
| ICICI Bank | 8.75% – 9.85% |
| Kotak Mahindra Bank | 8.65% – 9.45% |
| Punjab National Bank | 8.60% – 9.35% |
| Bank of Baroda | 8.60% – 10.35% |
| Union Bank of India | 8.60% -10.50% |
| IDFC First Bank | 8.75% – 8.90% |
| L&T Housing Finance | 8.40% – 8.60% |
| Bajaj Housing Finance | 8.30% onwards |
| Godrej Housing Finance | 8.39% -10.99% |
| Tata Capital | 8.60% onwards |
| Federal Bank | 8.37% – 9.60% |
Required Documents for a Home Loan in Dehradun
The documents you will need to submit if you are planning to apply for a Home Loan in Dehradun
- PAN Card or Form 60
- KYC documents such as Aadhaar Card, Voter ID, Passport, etc.
- Passport-size photographs
- Form 16/latest salary slips in the case of salaried individuals
- ITR Document/P&L statement in the case of self-employed individuals
- Document for proof of business, with a minimum of 3 years’ vintage (for businessmen/self-employed individuals only)
.
Other Important Documents Required:
For Developer property (Direct Allotment from the Developer)
- Allotment letter
- Builder buyer agreement
- Payment receipt
- Permission to mortgage from the respective authority
- Regulatory guidelines
For Resale Property
- Agreement to sell
- All prior deeds from the first allotment of the property
- Sale deed/Conveyance deed in favour of the seller
- Approved map of the property
- Possession certificate and land tax receipt from the relevant authorities
- Builder or society provided no no-objection certificate
Eligibility Criteria for Home Loan in Dehradun
The eligibility criteria for a home loan in Dehradun vary when compared across different lenders. Borrowers must meet certain eligibility criteria to avail of the lowest home loan interest rate in Dehradun.
- Age Limit for Salaried Individuals: 21 to 65 years .
- Age Limit for Self-Employed Individuals: 21 to 65 years.
- The maximum loan term is generally capped at 30 years.
- Minimum Salary: ₹10,000 p.m.
- Minimum business income: ₹2 lac p.a.
- Financial Position: The present and the future income of applicant(s) has a significant impact on determining the loan amount.
- Have a good credit score, preferably 650 and above
- Other Financial Obligations: Existing liabilities such as a car loan, credit card debt, etc.
How to Apply for A Home Loan In Dehradun?
Applying for a Home loan in Dehradun isn’t different from applying for a Home loan elsewhere. The overall pattern is similar to researching your financial institutions, applying online or offline by filling out their application, providing documents, waiting for approval, and collecting your loan. However, the most important step remains the repayment. Pay back your EMIs on time to improve your credit score. Here is a brief about how to apply for a Home loan in Dehradun.
- Choose a reputable lender in Dehradun that offers personal loans. Use online tools like Urban Money’s calculators to compare rates, fees, and eligibility.
- Complete the online application with personal and financial details like your name, age, income, PAN card, Aadhaar card, and bank statements. Upload necessary documents for verification.
- Apply and wait for approval. Approval times vary based on the lender and your credit history. Some lenders offer instant approval and funds disbursement, while others may need additional verification.
- Upon approval, carefully review the loan agreement detailing terms and conditions. Sign it digitally or physically, and arrange for loan repayment through auto-debit or post-dated cheques.
- After the agreement, expect the loan amount in your bank account within 24 hours or as per the lender’s policy. Utilise the funds for your intended personal or professional use.
Benefits of getting a Home Loan in Dehradun
FAQ’s About Home Loan in Dehradun
Securing a Home loan in Dehradun with a bad credit score is possible, NBFCs and small finance banks often have more flexible eligibility criteria compared to traditional banks, though it may come with higher interest rates and potentially stricter terms.
Home loan interest rate depends on several factors like borrower's profile, credit score, loan amount, income, and the type of loan. Generally, interest rates can range from 7.85% to 11.10% per annum, with repayment tenures of up to 30 years.
Age Limit for Salaried Individuals as well as for self-Employed Individuals: 21 to 65 years .
The maximum loan term is generally capped at 30 years.
Minimum Salary: ₹10,000 p.m.
Minimum business income: ₹2 lac p.a.
Financial Position: The present and the future income of applicant(s) has a significant impact on determining the loan amount.
Have a good credit score, preferably 650 and above
Other Financial Obligations: Existing liabilities such as a car loan, credit card debt, etc.
Choose Financial Sarthi to simplify your borrowing journey and find the best deals in loans and unmatched advisory services. We ensure tailored deals on Home loans, Personal loans, Business loans, Loan against Property and Education Loan according to customer preferences. We take care of the complete borrowing process for clients, starting by assisting our clients to choose the right product from the appropriate lending organization, till the time, the entire loan is disbursed.
Yes, immediate family members such as spouse, parents and children are allowed to be joint borrowers in case of a home loan.
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