As the name suggested that this is a type of loan that is depend on home or the house. The main question is that what is the home loan ? There is a proper explanation of the home loan is that a home loan is the financing solution that is easily available to allow you to purchase a property as per your choice. You can easily purchase your property in which you are interested. You can apply online for this type of loan that is housing loan for the purpose of buying, repairing, renovating or the construct the house.
What type of home loan is best for you ?
There are many banks that provide you home loan on best interest rate. List of the banks that provide you a best beneficial loan are following as :
- SBI home loan.
- HDFC home loan,
- Axis bank home loan.
- ICICI home loan.
- PNB home loan.
- LIC home loan.
- Aditya Birla home loan.
- Bank of Baroda home loan.
So these are the main banks that provides you a home loan on the low rate of interest. So as per rules and conditions of your bank you should have to take the benefit of the loan. Home loan is very essential for day to day life because every person want to remain in a good house. So if you have a desire to purchase the home then you should have to go for it. Home loan provides you a best deal on the bases of low interest rate. Therefore for getting the all information about the home loan then you must have to brings all the documents to your bank.
Eligibility to get the benefit of home loan :
Many banks have there different criteria to allow the home loan. But there are some similarities in the banks that provide you a housing loan or home loan. Firstly age factor is depend on this like that eligible age for the home loan is the 18 to 70 years of age as per recommended by many banks. This loan is also based on the loan – to- Value ratio or we can say that LTV Ratio. The ratio in between the 80 % to 90% of the loan to value. So this is the basic criteria of every bank to allow you for the loan of house. House loan is more suitable for the employment type as we can say that any person which have in the government job got easily the home loan. Because salary of the individual is fixed so that bank can easily deduct the premium for the house loan. If you are a businessmen then you are also applicable for home loan. If you are in any profession such like that if you are a singer, actor, doctor, nurse, shopkeeper etc. Then bank also give you a home loan but firstly they are came into the house and check the ancient property of the individual. So these are the eligibility criteria for getting the home loan and for taking the more benefit of the home loan.
Question is that what is the minimum salary for the home loan ?
There are few rules and regulation you must have to follow all the rules and regulation of the bank. There is also a eligibility criteria for the salaried individuals. Age factor is also depend in this type of loan. Minimum age of the individual is 21 to 65 years of age. So you can get the more benefit for your home loan. There is age limit of self employed individuals is 21 to 65 years of age. Answer of our question is that minimum salary for getting the home loan is 10,000 RS. PER MONTH. Minimum business income is RS. 1 lakh per annum. So this is the basic criteria for the all the individuals that thought about the home loan. So this is the main things about the home loan. Hope so you got my points and understand easily.
Home is the type of loan that is provided by your bank. This is the best type of loan that allow low interest rate for employees and the business or also for the private job individuals. If you want to make the home then you must have to take the house loan for completion of your desire. So that we make a positive key point is that home loan makes you more confident then usual. If you are under budgeted then you must have to thought about the home loan because it will provide you a proper amount that is really very helpful for the individuals. But firstly you get the loan then you must have to meet with your bank agents for clearing all the doubts of your. Bank employees are more polite then usual so that if you want to take the home loan then should have to consult with your bank agents.
Can I get Home loan with out salary ?
Yes this is the main and important question. Answer is that yes you can get home loan without salary but you must have any type of income source that help you to give premium on proper time. So if you have any income source so you are eligible for the home loan but you have to mentioned the your pay scale to your bank. So this is the most advisory question for all of the individuals that are having any income source. This is more probable case that if you are not able to pay the premium on proper time then you are extremely charged by your bank. Sometime loan interest also increase in this case.
Which of the banks are available to give you home loan without salary ?
Yes there are many banks but you have already listen about the Aella Credit is known as the way that offering you loans without a salary. With the Aella app you can get loan very easily and conveniently. Also you can pay bills, get insurance easily and also make the investments with the app. They will offer you loans that range from the N1 500 to N1000000 with a repayment period with in the 1-3 months. So you can get this easily.