Free tools to plan your home loan

A home loan is money borrowed from a bank or NBFC to buy, build, or repair a house. You repay it in monthly instalments (called EMI) over many years, and the bank charges interest on the amount you borrow.

Most banks give 75% to 90% of the property value as a loan. The rest (10% to 25%) you pay yourself — this is called the "down payment". For example, on a ₹30 Lakh house, the bank may fund ₹24 Lakh while you contribute ₹6 Lakh.

EMI stands for Equated Monthly Instalment — a fixed amount you pay every month until the loan is fully repaid. It includes both principal and interest.

Most banks require a minimum take-home salary of ₹15,000–₹20,000 per month for salaried employees. For self-employed applicants, income shown in the ITR should support repayment. If your income is lower, adding a co-applicant like a spouse or parent can help.

Yes — this is called a joint home loan. Combining income can get you a higher loan amount, and if the woman is the primary applicant, many banks offer a slightly lower interest rate.

Any Indian resident between 21 and 65 years of age with a regular income — from a job, business, or farming — can apply. You'll need an Aadhaar card, PAN card, and basic income documents.

Some lenders offer loans based on bank statements and cash income — especially useful for shop owners, traders and small business owners. Our team can help you find a lender that specialises in this.

Yes. A CIBIL score of 700 or above usually gets you better interest rates, while a low score may lead to rejection or higher rates. If your score is low, we can advise you on how to improve it before applying.

CIBIL score is a 3-digit number (300 to 900) that reflects your credit history — how regularly you've repaid past credit card and loan dues. You can check it free once a year at cibil.com or through your bank's app.

Typically: sale agreement or allotment letter, title deed, approved building plan (for new/under-construction property), encumbrance certificate, property tax receipts, and society or builder NOC. Our team will confirm exactly what's needed for your property and state.

Usually 3 to 5 weeks from the time you submit complete documents. Government banks can take slightly longer (3–4 weeks) while private banks and HFCs are often faster (2–3 weeks).

An official letter from the bank confirming your loan is approved, mentioning the amount, interest rate, tenure and EMI. Keep it safe — you'll need it to complete property registration.

For a ready-to-move property, funds are released once documents are verified and the property is registered in your name. For under-construction property, the bank releases money in stages as construction progresses.

Yes, you can part-pay or fully prepay at any time. For floating-rate loans, banks cannot charge a prepayment penalty. Fixed-rate loans may attract a small charge of about 1–2%.

Typical charges include a processing fee (0–1% of loan amount), stamp duty (5–6% of property value), registration fee (0.5–2%), legal/valuation fee (₹3,000–₹10,000), and 18% GST on the processing fee. Always ask for the full list before signing.

Floating rate changes with RBI's repo rate — usually lower to start, and how most home loans in India work. Fixed rate stays the same throughout, offering certainty but usually at a slightly higher rate.

Interest rate is what the bank charges on your loan. APR (Annual Percentage Rate) also includes other charges like processing fees and insurance — making it the true cost of the loan. Always compare APR, not just the interest rate.

No. Home Loan Bazaar is completely free for borrowers — we earn a small referral fee from the bank or HFC only after your loan is disbursed. You pay nothing.

A bank shows you only its own products. Home Loan Bazaar compares 20+ lenders and shows you the best option for your situation — faster, simpler, and at no cost.

Yes — we specifically serve Tier 2 and Tier 3 cities, towns and villages. Our advisors can assist you in your local language throughout the process.

Don't be discouraged — we'll explain the reason and suggest next steps, whether that's improving your CIBIL score, adding a co-applicant, or trying a different lender. A rejection from one bank doesn't mean rejection everywhere.