Home Loans in Agra
Agra, with its rich heritage, culture, and modern infrastructure, can easily appeal to anyone. If you, too, wish to have an abode in this popular city of Uttar Pradesh, then apply for a home loan in Agra. From private to public banks and non-banking financial companies (NBFCs), several eminent lenders are willing to offer you home loans starting at 8.45% per annum. They may charge a processing fee on each home loan application ranging between 0.25% and 0.50% of the loan amount, sometimes higher. Borrowers can enjoy flexible repayments for up to 30 years on home loans in Agra from eminent banks and NBFCs.
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Home Loan Interest Rates in Agra
The best home loan interest rate in Agra begins at 8.45% p.a. A majority of banks and housing finance companies in Agra offer home loans at floater as well as on a fixed rate basis. Moreover, a few lenders also support the government affordable housing scheme PMAY for economically weaker sections of society.
The table drafted below will help you compare the rate of interest and processing fee charges on home loans in Agra by the top 10 banks and non-banking financial companies:
| BASIC Bank/NBFC Partner | Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|---|
|
Bank of India | 30 | 8.45% | Up to 0.25% of the loan amount (Min: Rs. 1,500; Max: Rs. 20,000) | Enquire |
|
LIC HFC | 30 | 8.50% | Up to 0.25% (Max: Rs. 25,000) | Enquire |
|
Aavas Financiers | 30 | 8.50% onwards | Up to 1% of the loan amount | Enquire |
|
HDFC Bank | 30 | 8.65% - 9.85% | Up to 0.25% (Min: Rs. 3,540) | Enquire |
|
PNB Housing | 30 | 8.75% onwards | Up to 0.50% (Max: Rs. 10,000) | Enquire |
|
Federal Bank | 30 | 8.80% | 0.50% of the loan amount (Min: Rs. 3,000 + GST; Max: Rs. 7,500 + GST) | Enquire |
|
State Bank of India | 30 | 9.15% - 12.95% | Up to 0.25% (Rs. 10,000 max) | Enquire |
|
Cent Bank HFC | 30 | 8.35% - 9.35% | Up to 1.00% (Rs. 10,000 min) | Enquire |
|
Bajaj Housing | 40 | 8.50% | Up to 7% of the loan amount + GST | Enquire |
|
Tata Capital Ltd. | 30 | 8.95% onwards | 0.25% of the loan amount (Max: Rs. 3,540) | Enquire |
Eligibility Criteria for Home Loans in Agra
Money lending is a service that is full of risk, so to avoid this risk, banks and NBFCs chart out their eligibility criteria so that only reliable people approach them as borrowers for a home loan.
The standard home loan eligibility in Agra is described below for your reference:
| Eligibility Parameters | Salaried Individuals | Self-Employed Individuals |
|---|---|---|
| Citizenship | Indian Residents/ NRIs/ PIOs | Indian Residents/ NRIs/ PIOs |
| Professional Experience | 2 years | 2 years |
| Age |
Min: 21 years |
Min: 21 years |
| Monthly Income | Minimum Rs. 20,000/ monthly |
Minimum Rs. 20,000/ monthly |
| CIBIL Score | 750 or above | 750 or above |
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.
- All banks in Agra offer home loans to Indian residents, while some also offer home loans to NRIs and PIOs
- Home loan applicants in Agra must be within the age bracket of 21 years - 65 years
- The work experience asked from salaried and self-employed applicants is 2 and 3 years, respectively
- Agra banks and NBFCs grant home loans to those with a CIBIL score of 750 and above
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 Required for Home Loans in Agra
Whether you are salaried or self-employed, you can easily apply for a home loan in Agra, but make sure to submit the essential documents with your home loan application. These documents will help you prove your credibility as a genuine borrower based on your citizenship, age, income, and property details. Here is a list of documents required for a home loan in Agra:
1. For Salaried Loan Applicants
- General documents like an Aadhaar Card, Voter ID Card, PAN card
- A cheque in favor of the lender for the processing fee
- 3 months' bank statements
- 3 months salary slips
- Last IT return
- Last Form 16
- Property documents
- Appointment letter
2. For Self-Employed Loan Applicants
- General documents like Aadhaar Card, Voter ID Card, PAN card
- Business Profile
- Company license
- 2-3 years ITR
- Recent Form 26AS
- 3 months' bank account statement
- 3 years P&L account statements
- 3 years balance sheets
| 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 Agra
A home loan agent in Agra will offer several interesting home loan schemes. Be clear about which type of scheme you wish to avail, depending on your specific need. From home and plot purchases to home construction and home renovation, all kinds of housing loan schemes can be easily availed in Agra.
We advise you to go through the table below to understand the different types of home loan schemes offered by the best lenders in Agra:
| Type of Document Required | The Object of the Loan |
|---|---|
| Home Loan for Plot Purchase | Home loan plan for buying a plot where a residential property can be built in the coming days |
| Home Loan for Home Purchase | Home loan scheme for buying a home |
| Home Loan for Construction | Home loan scheme for constructing a house on a plot |
| Home Loan for Extension | Home loan scheme for extending an existing home with a balcony, floor, or room |
| Home Loan for Renovation | Home loan scheme for renovating an existing home |
| Balance Transfer Home Loan | Flexible way to shift an existing home loan to a new lender at a cheaper rate of interest |
| Top-Up Home Loan | Easy fund support for existing home loan borrowers to meet their financial requirements |
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
The best interest rate for a home loan in Agra starts at 8.45% per annum offered at Bank of India.
Applying for a home loan in Agra is a straightforward procedure where you first have to select the lender and the home loan scheme. After that, you must fill out the home loan application and submit the required documents and a processing fee. Alternatively, you may contact the BASIChomeloan team online for assistance in applying for a home loan in Agra.
The minimum income requirement to get a home loan in Agra is Rs. 20,000 per month.
The minimum lock-in period for a home loan in Agra may vary from lender to lender. However, many banks and NBFCs have set 3 months as the minimum lock-in period for home loans.
Yes, a person with a monthly salary of Rs. 40,000 can easily get a home loan in Agra.