Products
Investing
Resources
Credit Cards
Tools & Calculators
Support
Whether you are fervently longing for a place to call your own home or ready to purchase, this guidance got something — maybe many things — which makes you happy and ultimately lets you make your homeownership dreams come true. Here we will compare various loan options from different banks and NBFCs, essential eligibility criteria, required documentation, tips to expedite the loan process and secure instant approval, and many more. Don't let your dream home slip away.
If you are looking for a home loan in Gurugram, this might be the best time to apply. The interest rates on home loans have reached historic lows. I.e., you can save a lot of money on your monthly repayments and reduce the overall cost of your loan. However, getting a home loan is not as easy as it sounds. Well, that’s may not entirely true! It is super easy, actually. But getting a home loan with the best home loan rates in Gurugram would be a daunting task. It required extensive research and tactics. In this guide, we are going to reveal how one may get the cheapest home loan in Gurugram.
The eligibility criteria for home loans in Gurgaon can vary from one lender to another. However, generally, you can expect the following criteria:
Special Note: Get personalized results with our advanced Home Loan Eligibility Calculator.
Here are the documents that you need to submit in order to avail of a house loan in Gurugram:
| Type of Documents | Applicable Documents |
| Proof of Identity | PAN card, Aadhaar card, passport, voter ID card, driving licence, etc. |
| Proof of Income | Salaried applicants: salary slips, Form 16, bank statements, income tax returns, etc. Self-employed applicants: profit and loss account, balance sheet, business licence, registration certificate, et |
| Property documents | Title deeds, sale agreements, allotment letters, receipts of payments, encumbrance certificates, etc. |
| Other Documents | Passport size photographs, processing fee cheque |
These are the vital factors that an ideal individual must consider before availing of a housing loan in Gurgaon.
| Interest Rates | 8% p.a. to 10% p.a |
| Processing Fees | 0.50% to 2% |
| Loan Tenure | Up to 30 Years |
| Loan Amount | Up to 75% or 90% of the property value. |
| Prepayment Charges | Nil |
Follow these simple tips to speed up the housing loan in Gurugram:
Note: Certain lenders offer a valuable service known as ‘pre-approval,’ which allows you to take a proactive approach by requesting them to assess your eligibility criteria and verify your documents in advance. The lender avails your request and provides an estimated loan amount based on their evaluation. Once you have passed the pre-approval process, you can obtain a loan within a relatively short timeframe, roughly 4 to 6 hours.
As a millennium city with umpteen employment opportunities, sophisticated infrastructure, well-planned civic amenities, high-end skyscrapers, gated communities, luxury apartments, elegant villas, condos, spacious flats, and more – Gurugram offers choices aplenty. And, of course, these properties are may super expensive, so you may need a home loan in Gurugram to finance your purchase. However, with a good credit profile and good repayment capacity, one may get a home loan at the lowest rates.
Ans: Contact your current lender via a letter or an online form, and collect the necessary documents from them. These documents usually include a loan consent letter, a foreclosure letter, a list of property documents, a statement of your loan account, and a No Objection Certificate (NOC). Apply for a home loan transfer with the new lender along with the loan consent letter. Subsequently, the new lender will take care of the remaining process.
Ans: Yes, it can be a good decision. However, it primarily depends on your financial capacity and the prevailing interest rate. And it is advisable to explore and secure the lowest home loan interest rate in Gurgaon.
Ans: Following are the top lenders that offer the cheapest home loans in Gurgaon are: ICICI Bank, Axis Bank, Bandhan Bank, HDFC Bank, Tata Capital, Kotak Mahindra, Punjab National Bank, and SBI.