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Home Loan in Hyderabad

Home loans in Hyderabad can help you get the property of your dreams with as little as a 10% contribution of your own. With comfortable applications, quick disbursals and minimum charges, these loans can be availed by any credible borrower. Keep reading for the most important practical know-how of housing loans in Hyderabad.

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Home Loans in Hyderabad – An Overview

Hyderabad is one of the country’s rapidly booming real estate markets. Amidst soaring property prices, housing loans in Hyderabad provide necessary financial assistance for investments. Up to 90% of your property’s value can be financed using a home loan. They are available at affordable interest rates and add life to your home sweet home.

Before applying for the loan, you must be well-versed with different home loan offerings, applicable interest rates and loan repayment options. In this blog, find everything related to housing finance in Hyderabad.

Salaried/self-employed/ NRIs can apply for the cheapest home loans in Hyderabad after fulfilling certain minimum standards specified by lenders.

  • Minimum Salary: The applicant must have a minimum monthly income of Rs.25,000. However, it may vary from one lender to another.
  • Age: Home loans are typically issued to applicants between 18 and 70 years old.
  • Work Experience: At least 2 years of previous work experience and a few months of stable employment at the current organisation.
  • Citizenship: Home loans are issued only to Indian citizens. However, they may or may not be Indian residents.
  • Credit Score: A credit score of 750 is generally the benchmark for several lenders when considering personal loan applications.

Special Note: Unlock your home loan eligibility with our intuitive Housing Loan Eligibility Calculator.

Documents Required for Home Loans in Hyderabad

To ensure the availability of the best home loan rates in Hyderabad, an applicant must submit genuine documents. Some common document requirements of the leading home loan lenders are listed below:

  • Properly filled loan application form
  • Identity Proof: Driving License/ Aadhar Card/ Voter ID Card/ Passport
  • Address Proof: Water Bills/ Electricity Bills/ Rent Agreement
  • PAN Card
  • Employment Proof: Employment Letter/ previous months’ bank statements
  • Income Proof: Salary Certificate/ Form 16/ Balance Sheet and P&L account/ Income Tax Returns
  • Passport size photographs
  • Disclosure of active investments
  • Property related documents

Highlights of Home Loan in Hyderabad

Interest rates, loan duration, financial cover and repayment options are key factors to consider when choosing a housing loan in Hyderabad. These offerings differ from one lender to another and are subject to changes. Awareness of the current market trends aids an applicant in making wise investment decisions.

Interest rates (per annum)8.40% onwards [fixed/flexible]
Tenure Up to 30 years
Loan to Value (LTV) 70%-90%
Processing fee0.25% onwards
Prepayment chargesNIL

How to Get a Housing Loan in Hyderabad with Fast Disbursement?

Home loans in Hyderabad can be easily availed of using Urban Money’s online and in-personal loan services.

Online Applications

Urban Money offers the best home loan offers across top banks and NBFCs in Hyderabad. Loan seekers can conduct free eligibility checks, gain amortisation schedules and compare different loan offers on our intuitive website. Follow these simple steps to choose from a wide range of affordable home loans.

  • Log on to www.urbanmoney.com
  • Under the ‘Loans’ category, select ‘Home Loans’.
  • Scroll down and select ‘Hyderabad’ as your city.
  • Choose from a wide range of home loan offers from the city’s leading lenders.
  • Click on ‘Apply now’ and fill out your loan application.

Offline Applications

Urban Money’s representatives can be contacted at our toll-free number – 1800 208 3344. Our bank agents offer customised home loan solutions as per the customers’ needs. We provide end-to-end assistance from application to document verification. Loan seekers can also contact our local branches spread across cities to access the services of more than 95 banks and NBFCs.

An offline home loan application is usually approved within 2-4 weeks.

Conclusion

With residential sales on the rise, buying a property becomes easier through home loans in Hyderabad. Lenders offer a variety of loans to cater to different housing needs. Homebuyers can counter the soaring property prices in the city through the cheapest home loans in Hyderabad. With reasonable interest rates and nominal charges on housing loans, purchasing an estate is smooth and easy.

FAQs

What is the process to transfer a home loan in Hyderabad?

After submitting a transfer application to the current lender, the borrower must collect the property documents and a No Objection Certificate. After paying the required transfer charges, an applicant can apply for a loan transfer at the new bank.

Is it good to buy a house in Hyderabad with a home loan?

Yes, financing a property in Hyderabad through home loans is a smart decision. A home loan can be comfortably settled with 90% LTV, affordable interest rates, and long repayment periods.

Which bank is the best for home loans in Hyderabad?

HDFC and SBI are leaders in the banking sector. Affordable home loans from these banks can be availed at Urban Money’s website.

Where can I get a home loan in Hyderabad?

Urban Money offers the best home loans across banks and NBFCs in Hyderabad through its website and offline customer service.