Get online Home Loan approval at lowest interest rates & it start's from 6.70% per annum floating and reducing with lowest processing fees, no hidden charge, loan amount start from Rs. 10 Lakhs to Rs. 25 Crore with simple documents, fully digital process & avail your instant principle approval, instant support and door step service. Home Loan available for Salaried, Self-employed, Self-employed Professionals and NRI customers in Pan India Cities.
 HDFC HOME LOANS : - Interest Rate - Starting from 7.00% - 8.45%- Processing Fees – Upto 0.50% of the loan amount or ₹3000/- whichever is higher- Loan Amount - ₹ 5 Lks – ₹ 10 Cr.- Tenure – 1 - 30 yrs - Cibil – Min. 700 |
AXIS HOME LOANS : - Interest Rate - Starting from 7.00% - 11.90% - Processing Fees – Upto 0.50% of the loan amount or ₹3000/- whichever is higher - Loan Amount - ₹ 5 Lks – ₹ 10 Cr. - Tenure – 1 - 30 yrs |
ICICI HOME LOANS : - Interest Rate - Starting from 7.10% - 7.95% - Processing Fees – Upto 0.50% of the loan amount or ₹3000/- whichever is higher - Loan Amount - ₹ 5 Lks – ₹ 10 Cr. - Tenure – 1 - 30 yrs |
LIC HOME LOANS : - Interest Rate - Starting from 6.90% - 8.00% - Processing Fees – Upto 0.50% of the loan amount - Loan Amount - ₹ 5 Lks – ₹ 10 Cr. - Tenure – 1 - 30 yrs |
 TATA CAPITAL HOME LOANS : - Interest Rate - Starting from 7.15% - 8.50% - Processing Fees – Upto 0.50% of the loan amount or ₹3000/- whichever is higher - Loan Amount - ₹ 5 Lks – ₹ 10 Cr. - Tenure – 1 - 30 yrs
|
SBI HOME LOANS : - Interest Rate - Starting from 6.65% - 7.65% - Processing Fees – Upto 0.50% of the loan amount - Loan Amount - ₹ 5 Lks – ₹ 10 Cr. - Tenure – 1 - 30 yrs |
DCB HOME LOANS : - Interest Rate - Starting from 8.25% - 15.00% - Processing Fees – Upto 2% of the loan amount or Minimum of ₹5000/- - Loan Amount - ₹ 5 Lks – ₹ 10 Cr. - Tenure – 1 - 30 yrs |
INDIABULLS HOME LOANS : - Interest Rate - Starting from 7.60% - Processing Fees – Upto 1.00% of the loan amount - Loan Amount - ₹ 5 Lks – ₹ 3 Cr. - Tenure – 1 - 25 yrs |
Home Loan required Documents for Applicant & Co Applicant
| Documents Required | Salaried Customers | Self Employed Customers |
|---|---|---|
| Application Form | Signed by customer along with photographs | Signed with photographs with rubber stamp if required |
| Identity Proof | Clear Copy of PAN card Self signed | Copy of PAN card self-signed |
| Certificate and Proof of Business Existence | Not applicable | PAN, GST registration, Copy of partnership deed, Shop act, Trade license, Certificate of practice, Registration certificate issued by government |
| Current Address Proof | Copy Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ Bank statement (not more than 3 months old) | Bank statement, Utility bill, Reg, Lease or rent agreement, TAN allotment letter, Passport, Driving Licence, Voter ID card, Phone bill, Property bill |
| Office Address Proof | Not Applicable | Utility Bill, Bank Statement, Reg. Lease Rental Agreement |
| Income Proof | Form 16, Latest 6 months’ salary slip & Latest 6 months bank statement, Previous Job experience proof if required | Last 2 years ITR, Last 12 months bank statement ( ITR is not mandatory) |
| Property Documents | Past title chain if resale or builder master file – Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension (As per the property legal requirement by bank ) & Latest Draft Agreement, down payment receipt & down payment clearance proof as bank statement | |
HOME LOAN BENEFITS :
Home Loan Income Tax Benefits for Customers FY 20-21
The Government of India offers tax benefits on home loans under the Income Tax Act of 1961. Home loan borrower can get benefit of tax deduction on principal repayment under section 80C, tax deduction on interest under section 24, and additional home loan interest tax benefit for first-time home buyers under section 80ee.
These home loan tax benefits help borrowers save substantial amount of money every year. And even more so after the Finance Minister Nirmala Sitharaman presented her first 2019 Union Budget on 5th July. Let’s look at the updated income tax benefits on home loan FY 2019-20 so that you can make the most of it.
| Name of Act (Sections) | Housing Loan Tax – Exemption types | Maximum Allowed amount |
|---|---|---|
| Section 24(b) | Only Annual Paid Interest | Rs.2 lakh* |
| Section 80C | On Principal (including paid stamp duty & registration fee) | Rs.1.5 lakh |
| Section 80EE | Additional amount of interest (for first-time buyers) | Rs.50,000 |
Now Income tax exemption Benefits in Home Loan under section 24(B):
The home loan borrower enjoys Tax exemption Benefits on both Interest paid amount to bank of finance company. Under Section 24(b) act in India for income tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 2,00,000 on the self-occupied home loan property, it can be availed after filing annual income tax return, it can be adjusted in the calculation of expenses and the same will refunded by income tax department within two or three month after income tax return filled date.
| Particulars | Section of income tax 24 (b) of the Income Tax Act for Home Loan |
|---|---|
| Tax exemption allowed for | Only Interest part under section 24(B) |
| Type of Property | Any Residential Property |
| Basis of deduction on Income Tax | Accrual basis |
| Actual amount of Tax Deduction allowed | Self-Occupied Property: Rs. 2,00,000 Non Self Occupied Property: No Limit |
| End use of Loan | Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property. |
| Income Tax deduction refund/ exemption eligibility | New Purchase/ Re or new Construction should be completed within 5 years |
| Sale of Property to be restricted | Nil |
Section 80C Exemption in India on the Housing Loan Annual Repayment of principle amount under Tax Deduction
Under Section 80(c) of Income Tax, Only for annual paid principal part in loan repayment amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of Rs. 1, 50,000 per annum.
Conditions of section 80C for FY 2021 -22 for Deduction of income tax on the Housing Loan Principal Repayment:
• This exemption is permitted only for the properties that are completed 100% construction or having completion certificate of the house of building, it is allowed in rural and urban both properties and allowed all kind of permitted zone areas in anywhere in India after the construction of the house is completed.
| Particulars | Section 80C of the Income Tax Act |
|---|---|
| Deduction permitted under Income tax | Principal amount only |
| Type of property | Only residential house property |
| Basis of tax deduction | Income Tax Filing online payment/ challan |
| Capped limit of Tax Deduction allowed | Rs. 1,50,000 |
| Primary End use of loan | Purchase / Construction of a new house property |
| Eligibility for claiming Income tax exemption | Nil |
| Restriction on sale of property | Deduction claimed would be reversed if property is sold within 5 yrs. |
Special Exemption for first time home buyer under Income tax section 80 EE FY 2021 -22
One additional income tax exemption brings by our finance minister for all first time home buyers, additional amount of Rs 50000 are allowed to customers on interest payment of annual EMI for housing loans, this amount is additional amount of section 80C i.e. Rs. 150000 of interest part, so combined amount of Rs. 200000 is permitted in both sections (80C+ 80EE) on a single home loan.
Exemption condition under 80EE for all Indians for FY 2021 -22:
• The first condition for 80EE is customer should be the first home owner at the time of application of housing loan.
• The fare market valuation of the property should be less than Rs. 50 Lakh as per the valuation report by bank approved technical valuator.
• The scheme is to encourage affordable housing so the limit is capped for Rs 35 Lakhs.
• The home loan amount must have been approved to a customer between April 1, 2016 and March 31, 2017
| Section Particulars | Act of 80EE under Income Tax |
|---|---|
| Tax Deduction permitted for | Only on Interest amount |
| Type of property | Only residential house property |
| Basis of tax deduction | Paid basis |
| Amount capped of Tax allowed | Rs. 50,000 |
| End use of loan | Purchase / Construction of a new house property |
| Basic criteria for tax deduction exemption claiming | Nil |
| Restriction on sale of property | Nil |
FORHome Loan Pradhan Mantri Awas Yojana (PMAY) Benefits :
|
Category |
Annual Income |
Maximum
Subsidy |
Scheme
Validity |
|
EWS and LIG |
Less than
equal to ₹6,00,000. |
₹2.67 lakh |
31/03/2022 |
|
MIG I |
Between ₹6,00,000
and ₹12,00,000. |
₹2.35 lakh |
31/03/2021 |
|
MIG II |
Between ₹12,00,000
and ₹18,00,000. |
₹2.30 lakh |
31/03/2021 |
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