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Traditional home loans are notorious for demanding a long list of financial documentation. This might seem daunting for certain individuals, specifically self-employers, to submit all documents. Thus, you probably face several rejections as well and may now be on the verge of giving up. In such cases, a home loan without documents — also known as paperless loans or loans with minimal paperwork — can be fair enough to bring life to your homeownership aspiration. Hence, Urban Money provides a brief overview of this easy home loan without documents, empowering you to secure the necessary funds without having to step into a bank. We cover details such as interest rates, applicable fees, eligibility criteria, relevant features, available tax benefits, and more. Let’s scroll down to know more.
Let’s take a look at the following features and benefits you can expect from a home loan without documents:
The eligibility criteria for a house loan without documents are as follows:
Let’s take a look at the applicable Fees and Charges of a home loan without documents:
Here are the interest rates of a home loan without documents from leading lenders in India:
| Lenders | Interest rate (p.a.) |
| Bank of Baroda | 8.40% – 10.65% |
| Punjab National Bank | 8.45% – 10.25% |
| State Bank of India | 8.40% – 10.15% |
| Bank of India | 8.30% – 10.75% |
| UCO Bank | 8.45% – 10.30% |
| HDFC Bank Ltd. | 8.75% – 09.40% |
| ICICI Bank | 8.75% – 11.45% |
| Axis Bank | 8.70% – 13.30% |
| Federal Bank | 8.80% – 10.30% |
| Dhanlaxmi Bank | 9.35% – 10.50% |
Following are the available tax benefits you can enjoy concerning a home loan without documentation: