Home Loans in Dehradun
Nestled in the foothills of the Himalayas in the state of Uttarakhand, Dehradun appeals to many for a residence. Perhaps this is the reason for the availability of so many top financial service providers in Dehradun offering quick and hassle-free home loans. The lowest home loan in Dehradun interest rate starts at 8.50% per annum. The maximum period provided by several banks and NBFCs in Dehradun to repay the loan amount is up to 30 years. Most of them charge a nominal processing fee ranging from 0.25% - 0.50% of the loan amount for each home loan application.
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Home Loan Interest Rates in Dehradun
The home loan rates in Dehradun start at 8.50% per annum. Whether you are a salaried or a self-employed person, you can apply for a home loan in Dehradun from the top banks and non-banking financial companies after meeting their eligibility criteria.
The table below aims to acquaint you with the home loan interest rates and processing fees of top banks and NBFCs offering housing loans in Dehradun:
| BASIC Bank/NBFC Partner | Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|---|
|
Bajaj Housing Finance | 40 | 8.50% - 18.00% | Up to 7% of the loan amount + GST | Enquire |
|
LIC HFC | 30 | 8.50% | Up to 0.25% (Rs. 25,000 max) | Enquire |
|
Aavas Financiers Ltd. | 25 | 8.50% onwards | 1.00% | Enquire |
|
Bank of Baroda | 30 | 8.60% onwards | 0.50% (Rs. 8,500 min; Rs. 25,000 max) | Enquire |
|
HDFC Bank | 30 | 8.65% - 9.85% | Up to 0.25% (Rs. 3,540 min) | Enquire |
|
ICICI Bank | 30 | 8.75% onwards | 0.50% - 2.00% of the loan amount | Enquire |
|
PNB Housing | 30 | 8.75% - 11.45% | Up to 0.50% (Rs. 10,000 max) | Enquire |
|
Kotak Mahindra Bank | 20 | 8.75% - 9.60% | Rs. 10,000 - 0.25% | Enquire |
|
IIFL Housing Finance | 25 | 8.75% | 0.50% - 1.75% of the loan amount | Enquire |
|
State Bank of India | 30 | 9.15% - 12.95% | Up to 0.25% (Rs. 10,000 max) | Enquire |
Eligibility Criteria for Home Loans in Dehradun
Financial help in the form of home loans is only available if you meet the set eligibility criteria by the respective banks and NBFCs. Do not worry; these days, these financial institutions only ask for a little, but just specific requirements in terms of the age, nationality, income, and CIBIL score of the applicant applying for a home loan in Dehradun.
The table will help you understand the standard criteria for home loan eligibility in Dehradun:
| Eligibility Parameters | Salaried Individuals | Self-Employed Individuals |
|---|---|---|
| Citizenship | Indian/ PIO/ NRI | Indian/ PIO/ NRI |
| Professional Experience | 3 years | 3 years |
| Age |
Min: 21 years |
Min: 21 years |
| Monthly Income | Minimum of Rs. 25,000 per month |
Minimum of Rs. 25,000 per month |
| CIBIL Score | 750+ | 750+ |
Note: Applicants are encouraged to declare any additional sources of income besides those mentioned in the table above to boost their chances of getting a home loan approval.
- Home loans in Dehradun are available to applicants who can be Indian residents, Non-Resident Indians, or Person of Indian Origin
- The minimum age limit to apply for a home loan in Dehradun is 21, and the maximum age at the time of loan maturity can be 70 years
- A total experience of at least 3 years in the current job or business is required from applicants who are salaried or self-employed
- Banks and NBFCs in Dehradun are happy to offer home loans to applicants with a decent credit or CIBIL score of 750 or more
Note:These criteria are subject to variation from one bank to another. It is recommended that you check with the specific bank you are applying to for a home loan for its eligibility requirements.
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Documents Requirement for Home Loans in Dehradun
Something as crucial as a home loan can only be granted if the applicant succeeds in submitting some essential documents to the lender. When we talk about the documents, we mean general KYC documents that can verify the applicant's age, income, nationality, and other similar details. The required list of documents for home loan in Dehradun is listed below:
1. For Salaried Loan Applicants
- Identity documents such as Aadhaar Card, PAN card, Voter ID Card, Driving License, and Passport
- Salary slips for the last 3 months
- Recent Form 16
- Recent ITR
- Bank statements for the last 3 months
- Appointment letter from the employer
- A cheque for the processing fee for the loan application
- Property documents such as sale deed, NOC from the builder or housing society, advance payment receipt to the builder, and approved construction plan
2. For Self-Employed Loan Applicants
- Identity documents like an Aadhaar Card, PAN card, Voter ID Card, Driving License and Passport
- Business profile and license of the company
- Recent Form 26AS
- Recent ITR
- P&L account statements for the last few years
- Balance Sheets for the previous few years attested by a CA
- Savings account statement for the last 3 months
- A cheque for the processing fee for the loan application
| Type of Document Required | Examples of Documents that can be Submitted |
|---|---|
| Proof Of Residency | Aadhaar Card, Valid Passport |
| Proof Of Income | Bank Passbook, Bank statement, Last 3 years IT Return |
| Proof Of Age | PAN Card, Voter ID, Birth Certificate, Registration Certificate Of Establishment |
| Proof Of Employment | Certified Letter from Employee/Company Memorandum |
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Home Loan Options Available in Dehradun
A home loan company in Dehradun can help you get adequate funds in the form of a housing loan. These lenders know the different needs of home loan borrowers. Therefore, they offer various housing loan schemes with which a person can buy, renovate, construct, improve, and extend a home, or even transfer an outstanding loan amount to another lender at a cheaper interest rate.
The table here will give you a glimpse of different housing loan schemes offered by the best banks in Dehradun:
| Type of Document Required | The Object of the Loan |
|---|---|
| Plot Purchase Loan | Ideal for buying a plot where a home can be built within a fixed period |
| Home Purchase Loan | Ideal for buying a residential property |
| Home Improvement Loan | Best housing loan for those who wish to improve the existing home with services like painting, carpentry, and so on |
| Home Construction Loan | Perfect for constructing a dream home on an already bought plot |
| Home Extension Loan | Apt home loan for those who are keen to add an extra floor, room, or balcony in an existing home |
| Balance Transfer Home Loan | The flexible option to transfer the outstanding loan amount from one lender to another at a lower rate of interest |
| Top-Up Loan | Easy way to meet sudden professional or personal financial needs without applying for a fresh loan |
Note:The options tabulated above are the most popular loan options availed of by most customers. Please check with your specific bank for other home loan options that they offer.
FAQs
Applying for a home loan in Dehradun is a simple affair that can be done by first shortlisting the lending bank or NBFC, filling out its home application form, and paying the processing fee. Alternatively, you can contact the BASIChomeloan team online to get assistance in applying for a quick home loan in Dehradun.
The minimum income requirement to get a home loan in Dehradun is Rs. 25,000 per month.
The top banks and NBFCs in Dehradun can offer home loans for up to 90% of the property cost.
The lowest interest rate on a home loan in Dehradun starts at 8.50% per annum. However, make sure to check the same from your chosen lender before applying for a housing loan.
Yes, there are certain banks and non-banking financial companies in Dehradun that allow you to prepay the home loan without paying any penalty fee.