Instant and Easy Home Loans in Hyderabad
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Looking for Home Loans in Hyderabad?
Owning a home is probably every person’s dream, and in India, being the owner of a house is one of the key signs of being financially well-settled & a matter of pride. With the real-estate prices rising to the skies and the demand for buying a property is increasing proportionately, it becomes difficult for any middle-class person to purchase a home easily. So, to overcome these financial issues, AKB home loans are provided across India by banks & NBFCs where they pitch in the required finances to help the prospective buyers with the needed monetary aid to buy a house or property. There are different types of home loans in the finance market that can be availed to purchase a new home, a resale home, plots, home extension, etc., and you can choose the most suitable one depending on your requirements.
Home Loans are secured loans in which the financier will use the home or the property that you are buying as surety for the loan, and it will be under the lender’s control until the borrower repays the complete loan successfully. Since the purchased home or the property is placed as collateral, the interest rates imposed on these loans will be relatively lower than the personal loans.
Home Loans EMI Calculator
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Process for Home Loans
Like the eligibility criteria, different banks need different documents for verification that proves the authenticity of the borrower. At AKB Loans, along with a completely filled-in application form with a recent photograph, you may have to submit a couple of more documents, as needed by the financial institution with which you are applying for a personal loan. Mentioned below are a few documents that should be submitted for the verification process.
1. Identity Proof
- PAN Card
- Aadhaar Card
- Voter ID Card
- Driving License
- Passport Copy
2. Current Address Proof
- Driving License
- Passport Copy
- Latest Gas Bill
- Latest Property Tax Bill
- Bank Passbook
- Ration Card
3. Age Proof
- PAN Card
- Aadhaar Card
- Voter ID Card
- Passport Copy
- Certificate issued by any statutory authority
4. Bank Statement
- Latest 3 months’ updated statement
5. Employment Proof
- Company ID Card
6. Salary Slip & Form 16
- Last 3 months’ salary slips
- Form 16
7. Self Employed
- Business License*
- Bank Statement*
50+
500+
1100+
Home Loans Interest Rates
| Interest rates | 6.75%* to 12%* |
| Processing fee | It ranges from 1%* - 3%* and differs according to the banks |
| Loan Tenure | 3 years – 20 years |
| Loan Amount | ₹ 10 lakhs* - ₹ 75 lakhs* |
| Lock-in period | It differs from the lender to lender |
| Pre-closure charges | It differs from the lender to lender |
| Guarantor Required | It depends on the different conditions |
Frequently Asked Questions
Is a collateral required?
Yes, you will be asked to put any of your asset or property as a surety with the lender.
How much loan money can be borrowed?
The eligible loan amount will depend on various factors, but the maximum amount can be borrowed is 75 lakhs* ..
What is the credit score required?
You need to have >700 credit score in order to get the loan approved with the amount you want.
How much could be the interest rate?
The interest rate charged by different lenders could range from 6.75%* to 12%* .
