Home Loan
Finance to buy, build, or extend your home — one of the lowest-cost ways to borrow, secured against the property itself.
A home loan is secured against the property you’re buying or building, which is exactly why it typically carries a lower interest rate than an unsecured loan. It’s one of the most common ways Indian families fund their first home, an upgrade, or the construction of a house on land they already own.
Because a property is involved, the process includes legal and technical verification alongside the usual income and credit checks — this protects both you and the lender. With 90+ banks and NBFCs on our panel, we help match your profile and the property to a lender who can move things forward smoothly.
Who is a home loan for?
- First-time home buyers
- Anyone building on land they already own
- Those extending or renovating an existing home
Who is eligible for a home loan?
- Age typically 21–65 years (loan tenure adjusted so it ends before retirement age for salaried applicants)
- Stable income — salaried or self-employed
- The property must have clear title and pass the lender's legal and technical checks
- CIBIL score and existing EMIs are reviewed as with any loan
What documents do you need for a home loan?
- PAN card and Aadhaar card
- Income proof — salary slips/Form 16, or ITR and business proof for self-employed
- Bank statements, typically 6 months
- Property documents — sale agreement, title deed, approved building plan
How much would a home loan EMI cost?
For example, ₹30,00,000 over 5 years at an indicative 11% works out to about:
₹65,227/month
Indicative only — your actual EMI depends on the amount, tenure and rate you're offered.
Try the full calculatorHome loan with a CIBIL score below 700
A CIBIL score below 700 sits in the "Fair" or lower "Good" band on the standard 300–900 scale — good enough that a home loan is still very much on the table, since a home loan is secured against the property itself rather than relying on your score the way an unsecured loan does. Most lenders remain willing to consider you in this range; what typically changes is the interest rate offered and, in some cases, how much of the property's value they're willing to finance.
With a lower score, expect a slightly higher rate than someone above 750 would get, and possibly a larger down-payment requirement — the lender is pricing in a bit more risk rather than declining outright. Some NBFCs on our panel are specifically more flexible on this front than large banks, particularly if your income and existing EMI obligations are otherwise solid.
If your score is below 700 because of something specific — a late payment from years ago, a thin credit history, a closed loan reported incorrectly — it's worth telling us before you apply anywhere. Sometimes a small, fixable issue is holding your score down, and correcting it before you apply can genuinely improve the terms you're offered.
Home loan documents required
The checklist above covers what most lenders ask for, but a home loan's documentation goes a layer deeper than most other loans because the property itself needs verifying, not just your income. Alongside PAN, Aadhaar, income proof and bank statements, expect to submit the sale agreement, the seller's or builder's title documents, and — for under-construction property — the approved building plan and payment schedule.
Self-employed applicants are usually asked for ITR and business financials in place of salary slips, and co-applicants — common on home loans, since a spouse's or parent's income can be added to boost eligibility — need their own set of income and identity documents too. If the property has changed hands before, expect the lender to ask for the full ownership chain, not just the most recent sale deed.
None of this is meant to slow you down — it's exactly what the lender's legal and technical teams need to clear the property, and we go through what's specifically required for your situation before you approach a lender, so nothing holds up your application midway.
Common questions about home loan
How much of the property value can I borrow?
Lenders typically finance a large majority of the property's value, with the rest — the down payment — coming from you. The exact proportion depends on the loan amount and the lender's policy.
Can I get a home loan for a plot of land?
Land purchase alone is usually financed differently from a home loan, but a combined plot-plus-construction loan is common — talk to us about your specific plan.
What is the usual tenure for a home loan?
Home loans typically run for long tenures — often up to 20–30 years — which keeps the EMI manageable, though a shorter tenure reduces total interest paid.
Are there tax benefits on a home loan?
Home loan principal and interest repayments can qualify for tax deductions under the Income Tax Act, subject to current rules and limits. We'd recommend confirming the specifics with a tax advisor for your situation.
Do I need a lawyer to check the property papers?
The lender's own legal team verifies the title and documents as part of the process, which adds a layer of protection for you — though you're always free to get an independent opinion too.
Ready to talk about your home loan?
Tell us your need and we'll match you to the right lender from our panel of 90+ banks & NBFCs.