Eligibility
Home loans can be availed whether you want to buy or build a house and can be used to repair or extend an existing house. Salaried Employees and Self-Employed Indian residents over 21 years of age at the beginning of the loan and below 65 at its maturity can avail Home Loans. (NRI) Non Resident Indians Salaried and (NRI) Non Resident Indians Self- Employed persons, under RBI guidelines, can approach nationalized banks and other Home Finance Companies for home loans.
Floating Rate
Home loans can be availed whether you want to buy or build a house and can be used to repair or extend an existing house. Salaried Employees and Self-Employed Indian residents over 21 years of age at the beginning of the loan and below 65 at its maturity can avail Home Loans. (NRI) Non Resident Indians Salaried and (NRI) Non Resident Indians Self- Employed persons, under RBI guidelines, can approach nationalized banks and other Home Finance Companies for home loans.
Fixed Rate
Again, as the term states, the rate of interest remains fixed over a certain period depending on the bank/institution. The current rates prevalent in India range from 11% per annum to 13% per annum.
