A home loan is a secured loan specifically designed for purchasing, constructing, or renovating a residential property. The property itself serves as collateral, and the loan is sanctioned based on your income, credit score, property value, and repayment capacity.

The home loan amount depends on your income, credit score, existing obligations, property value, and repayment capacity. Generally, you can get a loan ranging from ₹10 lakhs to ₹5 crores. Banks typically finance 80-90% of the property value, and your monthly EMI should not exceed 40-50% of your monthly income.

A credit score of 700 or above is generally considered good for home loan approval. However, some lenders may approve loans for scores between 650-700 with slightly higher interest rates. A higher credit score increases your chances of approval and helps you get better interest rates and higher loan-to-value ratios.

With our streamlined digital process, you can get instant eligibility check within minutes. The home loan approval typically takes 48-72 hours once all documents are verified. The funds are usually disbursed within 7-10 days of approval after legal verification.

Yes, you can prepay your home loan either partially or fully. Most lenders allow prepayment after 6-12 months from disbursement. Some lenders may charge a prepayment penalty of 2-5% on the outstanding amount, while others offer zero prepayment charges for home loans.

Home loan interest rates typically range from 8.50% to 12% per annum, depending on your credit profile, income, property type, loan amount, and relationship with the lender. Borrowers with excellent credit scores and stable income get lower interest rates.