Apply for - Home Loan, Loan Against Property

Dialabank.com helps you find the most suitable offer for Home Loan

Personalised Service: Our trained Relationship Managers will understand your requirements and your profile and help you find the most suitable Home Loan offer.

Rate Comparison: We help you understand the details of all costs involved in taking a Home Loan and help you find the Cheapest Offer.

Research: Benefit from our detailed research on all the products from the leading Home Loan players in the market and make the right choice.

Zero Charges: Dialabank offers personalized service to its customers at zero fees. Use our services to find the right Home Loan deal at no extra cost.

Unbiased and Transparent Search: Our objective is to simplify your Home Loan search and we provide information in an unbiased and transparent manner.

Find the right Home Loan Offer with help from www.dialabank.com

1. Online: Fill in your Home Loan requirements in the online application form and our trained Relationship Manager will contact you with the best Home Loan offer basis your profile.
2. Dial “60011600” and get the personalised service of a trained Relationship Manager who will help you with your Home Loan requirements.

Take benefit of our EMI calculator to check affordability of your Home Loan EMI

Home Loan

Home is a dream place for every person where he relaxes and spends beautiful moments with loved ones. It is a big financial decision to buy a house and comes with a great responsibility. It is among the toughest decision one can ever make and needs a lot of financial support. Lending money from a bank is the simplest and secured way to finance your dreams. 

Home loan is basically a secured loan. Secured against the value of property, the property can be personal or commercial type. There are a number of banks and NBFC’s that lend money for housing purpose. It may be for any purpose either from constructing a brand new house to renovating old one. Home Loan Balance Transfer Facility is available for customer to reduce the burden of increased interest rate.

Types Of Home Loans

The Housing Finance Companies (HFCs) now offer individual various alternatives to choose from while buying a Home Loan. The availability of Home Loans offered varies as customer requirements.

Home Purchase loans: A Loan borrowed for the purpose of purchasing a new home. That may be for buying a flat in a society or purchasing an already built house.

Home Construction Loan: Home Loans can be availed for the construction of a new home. If a borrower start constructing his house and he would purchase a plot within a year, most HFCs will include the cost of land as a component to value the whole cost of the property.

Home Improvement Loan: This loan is required for implementing housing renovations and repair works that have already been purchased by a borrower. It may be lend for internal works like tiling and flooring, plumbing, electrical work, painting or external works like structural repairs, waterproofing, etc.

Home extension Loan: A Loan helps borrower to meet the expenses for any modification to the existing house like addition of an extra room or an upper storey etc. 

NRI Home Loans: It is meant to fulfill the financial needs of Non-Resident Indians who wish to construct or purchase a home or other commercial property in India.

Home Loans are available for other purpose like Home conversion loans, Land purchase loans, Stamp duty loans, Bridge loan and Refinance Loans.

Home Loan Process

• Application form
• Personal Discussion
• Bank's Field Investigation
• Credit appraisal by the bank and loan sanction
• Offer Letter
• Submission of legal documents & legal check
• Technical / Valuation check
• Valuation
• Registration of property documents
• Signing of agreements and submitting post-dated cheques
• Disbursement

Home Loan Eligibility

While computing home loan eligibility, banks take into account the age of the applicant, their salary, repayment/credit history, savings, profession, location of property, and other debts. Some professions are categorized as risky by the lenders while some jobs fall in the preferred list. As a thumb rule, the EMI for your home loan must not exceed 40 percent of your gross monthly income.

Basic Eligibility Criteria:

• An individual who is Salaried, self-employed or self employed professional.
• A person with Net Monthly Income is in excess of Rs.12, 000/- or Net Annual Income (others) is in excess of Rs.1, 50,000/-.
• The income of the spouse can be added if he/she is a co-borrower or a guarantor.
• Maximum age limit for home loan self employed is 70 years and for Salaried is 60 years.

*Special Note: We do not provide home loan or loan against property on B Khata Property.

Documents Required

Most importantly, all Home Loan deals agreed and supported by relevant papers. Self employed and salaried require different documents to support the deal. Before signing the Home Loan documents, recheck all terms and conditions.

A customer must understand and agree with each of the clauses in the documents. Do not sign any blank documents.

Common Documents:

• Address proof
• Age proof
• Last six months Bank account statement
• Income proof and passport size photograph of the applicant and co-applicant

For Salaried customers:

• Employment certificate from the employer
• Form 16 issued by employer Bank statement
• Copies of pay slip for last few months and TDS certificate

For Self-employed:

• If it is a partnership firm then copy of partnership deed or copy of memorandum of association and articles of association if it is a company.
• Copy of audited financial statement for last two years
• Income tax assessment order
• Profit and loss account for last few years

Home Loan Interest Rates

Before applying for a home loan, know the rate of charges, penalty or fee charged by your lending company or bank for default in monthly EMI. Know the processing charge and in case a person decide to switch their loan from current lender to a new lender, current lender will charge penalty or fee for pre-closure of your loan.