Apply Home Loan Online at 6.5% Interest Rate in India

Introduction

Many people take out a loan from a bank or finance company to build and buy a home. A lot financial institutions and banks are ready to provide home loan with specific rules. That way we will see in detail about Kodak Mahindra home loan eligibility in this post.

 

Home Loan

A home loan is when an individual borrows a certain amount from a bank or finance company to build a house or buy a home and pays that amount along with interest in monthly installments.

Kodak home loan eligibility for an individual

1. Age

• The monthly salary earners should be between 18 and 60 years of age.
• The self employed persons should be between 18 and 65 years of age.

 

2. Gross income of an Indian resident

• Residents of Delhi, Mumbai, Bangalore, Pune and Chennai should have a minimum monthly income of Rs.20,000.
• The monthly income of residents in other cities should be Rs.15,000.

 

3. Educational Qualification

• Graduation will be required if employees of a private limited company or partnership firm apply for a home loan.
• Those who work in public limited company or MNC or government or public sector company have no criteria to apply for home loan.

 

Home loan eligibility for a partnership firm/ Limited Liability Partnership/Indian company

 

• Must have started at least 3 years ago.
• Minimum net income of companies in Delhi, Mumbai, Bangalore, Pune and Chennai cities should be Rs.2,40,000/- p.a.
• Minimum net income of companies in other cities should be Rs.1,80,000/-p.a.

 

Home loan eligibility for a Hindu Undivided Family (HUF)

• Must be HUF’s Karta applicant or co-applicant.
• Must have started at least 3 years.
• IT returns of HUF for 3 years should be obtained.

 

Gross income for a HUF

• Minimum income should be Rs.2,40,000 for Delhi, Mumbai, Bangalore, Pune and Chennai cities.
• Minimum income should be Rs.1,80,000 for other cities.

Documents required for home loan

1. Passport size photo
2. PAN card copy
3. Aadhaar card copy
4. Residence proof
5. Salary slips (Last 3 months)
6. Form 16 and ITR (Last 2 years)
7. Bank statements (Last 6 months)
8. Relationship proof
9. Existing loans records
10. All property documents with sanction map

Home loan eligibility calculator

Use the home loan eligibility calculator and check your eligibility of Kodak Mahindra home loan.

Interest Rate

1. Home loan interest rate for monthly salary earners- 6.50% to 7.10%.
2. Home loan interest rate for self employed persons- 6.65% to 7.25%.

 

Kodak Mahindra home loan features

• Low processing fees.
• Lowest home loan interest.
• Insurance options for home loans.
• Fast home loan process.
• Multiple loan repayment options as per customer requirement.
• Doorstep service.

 

Customer Service Number

1860 266 2666

Contact this customer service number to know about home loan.

Time: 9.00 a.m. to 6.00 p.m.

Working days: Monday to Saturday.

 

Conclusion

Get a home loan from Kodak Mahindra bank at a less interest rate like this to build your own house dream come true.