Home Loan Amritsar

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Home Loan Amritsar

Best Banks For Home Loan Amritsar

Feature Bank of Baroda IDFC First Bank SBI
Interest Rate 7% - 8.35% 7% - 8% 6.95% - 7.45%
EMI/Lakh Rs. 665 Rs. 665 Rs. 659
Max Loan Amt Upto 10 Cr. Upto 5 Cr. Upto 7 Cr.
Loan Tenure Upto 30 years Upto 30 years Upto 30 years
Processing Fee 0.25% - 0.50% of loan amount + GST 0.25% - 0.50% of loan amount + GST 0.20% of loan amount + GST
Preclosure Charges No prepayment charges for floating rates No prepayment charges for floating rates No prepayment charges for floating rates

Home Loan Amritsar Features

Do you want to move to your new ready house but money is a hindrance? Get a home loan and be tense free!

In basic terms, it is a loan that is taken to either buy or to construct a new home. Here, the property for which the loan is taken is not owned by the loan applicant. Home Loan Amritsar

A home loan is not only available for buying a home or constructing one but also the applicant who is taking the loan can use different schemes for a home loan offered by the bank for extensions, plot purchase, renovation, and many other things related to home property.

The loan is available on the following types of property:

  • New flat
  • Ready to Move-in House
  • Plot From MHADA, DDA, etc.
  • Home construction
  • Home extension
  • Home renovation

Home Loans under Pradhan Mantri Awas Yojana are also available in Amritsar

Please find more information on Eligibility below or by visiting DialaBank online.

Home Loan Amritsar Interest Rates

Top 10 banks offering the lowest home loan interest rates for salaried individuals

Bank Name RLLR Minimum Home Loan Rate Interest Rate (%) Maximum Home Loan Rate Interest Rate (%)
Union Bank of India 6.8 6.7 7.15
Bank of India 6.85 6.85 7.15
Central Bank of India 6.85 6.85 7.3
Canara Bank 6.9 6.9 8.9
Punjab & Sind Bank 6.9 6.9 7.25
ICICI Bank 6.95 6.95 7.95
SBI Term Loan 6.65 6.95 7.45
Bank of Baroda 7 7 8.35
IDFC First Bank 7 7 8
Bank of Maharashtra 7.05 7.05 8.35
HDFC Bank 6.95 6.95 8.2

Home Loan Amritsar Documents Required

Salaried Individual:

Valid ID and Residence Proof:  A Xerox copy of Aadhaar, PAN, driving licence, passport, voter ID, or other proof of identity and residence.

Income Proof: 

  • Salary credits from the previous six months’ bank statements.
  • Salary Slips from the previous three months.
  • The most recent Form-16 and IT returns
  • If the present job is less than a year old, the employment contract/appointment letter is required.

Property Related Documents:

  • A check is payable to ‘The Particular Bank’ for a processing charge.
  • a copy of the buyer’s agreement/letter of allocation
  • Receipts for payments made to the developer

Self Employed Individual:

Valid ID and Residence Proof: A copy of your Aadhaar, PAN, driving licence, passport, voter ID, or other proof of identity and residence.

Income Proof: 

  • Salary credits from the previous six months’ bank statements.
  • Business Profile and Income Tax Returns for the Previous Three Years (Both self and business)
  • Profit/Loss Statement and Balance Sheet for the previous three years.

Proof Of Business: 

  • Certificates of Educational Qualifications
  • Achievements in business (Certificate or awards if any)

Property Related Documents:

  • A check is payable to ‘The Particular Bank’ for a processing charge.
  • a copy of the Buyer’s Agreement or the Letter of Allotment
  • Receipts for payments made to the developer

Agriculturists:

KYC Proof – PAN (Mandatory) and any of the following: Driver’s License, Voter ID, or Passport

Income Proof: 

  • Salary credits from the previous six months’ bank statements.
  • Copies of agricultural land title documents displaying cultivated crops

Property Related Documents:

  • A cheque for processing fee in the favour of ‘The Particular Bank.’
  • Buyer AgreementCopy / Allotment Letter
  • Receipt of payment made to the developer

Additional requirements for Co-applicants:

Click on the linked link for further information on the required paperwork for a house loan.

Home Loan Amritsar Eligibility Criteria 

Salaried Individual:

  1. The applicant’s nationality must be Indian.
  2. The applicant Should be a minimum of at least 18 years old and no more than 65 years old.
  3. Working experience and a genuine source of income (at least one year with the same job) are required.

Self Employed Individual:

Applicants who are not employed but have a reliable source of income are also eligible for the Home Loan. This applies to everyone who is a:

  • Merchant
  • Commission Agents
  • Contractor workers.

The Respective criteria should be met to apply for a home loan:

  1. The applicant should be between (Min) 18 years to (Max) 65 years.
  2. Must have work experience and a source of tangible salary i.e. working with the same employer for at least a year.

Self Employed Professionals:

Applicants who are skillfully engaged in the working sector are also eligible for the Home Loan in Amritsar. This includes everyone who is a:

  • Medical Professionals 
  • Advocates
  • Charted Accountant
  • Architect 
  • Consultants
  • Engineers
  • Company Secretaries

The given below criteria must be met to apply for a home loan:

  1. The nationality of the applicant must be Indian.
  2. The applicant should be between (Min) 18 years to (Max) 65 years.

Additional Criteria for Co-applicants:

  • A family member of the lead applicant must be a co-applicant.
  • All co-applicants don’t need to be co-owners of the property.

For more information on home loan eligibility, click on the given link.

How To Apply For Home Loan Amritsar

  • Visit  Dialabank for a Home Loan.
  • Go to the specific city Home Loan page.
  • Check out all the eligibility and documents criteria for a Home Loan.
  • Fill out all the details required in the Home Loan Amritsar application form.
  • Once done, our representative will soon contact you for a further stress-free process.

Processing Fees / Prepayment Charges On Home Loan Amritsar

Particulars Charges
Processing Fees Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher
Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher
Prepayment charges No prepayment charges for floating rates

Home Loan EMI Calculator Amritsar

CIBIL Score Required For Home Loan Amritsar

Most banks and financial organisations evaluate a CIBIL score of 750 or higher when considering a home loan. Many banks, however, will issue a loan with a CIBIL score of 650 to 750 if the applicant is an existing customer or has a positive relationship with the institution. The bank may impose a little higher interest rate on the house loan in this situation.

Maintaining a good CIBIL score is a good practice as every financial institution strictly examine the detailed behaviour of the previous loans taken. This includes details on the type of loan taken and the loan amount you have borrowed. Any late payments for previous loans can act as a barrier to your availing of a fresh home loan.

Check your CIBIL score in your credit report for more information on the score.

Home Loan Amritsar Agent / Broker

One of the major and best agents of Home Loan Amritsar is Dialabank. Having vast experience in the field put an advantage. Dialabank has worked with thousands of loan seekers and has successfully delivered what is agreed upon!

You can visit Dialabank online for information on Home Loan

Home Loan Amritsar Contact Number

You can contact us by dialling +919878981166 to get more information about home loans and we will give you the best advice to help you fulfil your dreams.

Pre Calculated EMI Table for Home Loan Amritsar

Click on the given link to check your EMI: Home Loan EMI Calculator

About Amritsar

Amritsar is a city in India’s northwestern region.. It is a spiritual centre for the Sikh religion and the administrative headquarters of the Amritsar district in the state of Punjab. It is home to the golden temple- the spiritual and cultural centre for the Sikh religion.

Get Home Loan Amritsar information on Dialabank online!

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