Best Home Loans in Guwahati: Home loan lenders in Guwahati offer pre-approved home loans to select eligible home loan customers based on several factors.
Details of Best Home Loans in Guwahati:
Banks, Housing Finance Companies (HFCs), and Non-Banking Financial Companies (NBFCs) generally offer home loans at interest rates starting from 8.35% p.a. and loan tenure of up to 30 years.
The loan amount stipulated by the lenders offering home loans in Guwahati can go up to 90% of the total cost of the property. Existing home loan customers can use the balance transfer facility to transfer their ongoing home loans to other lenders at lower interest rates.
Home loan customers can also opt for the home loan top-up facility and use the proceeds to meet their personal and business needs.
Home loan lenders in Guwahati also offer special schemes for pensioners, women borrowers, loan applicants without income documents, low-income groups, defense personnel, etc.
Compare home loan interest rates offered by various banks and HFCs in Guwahati
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.85% – 9.75% | 8.85% – 9.65% | 8.85% – 9.65% |
| HDFC | 8.45% – 10.35% | 8.45% – 10.60% | 8.45% – 10.70% |
| LIC Housing Finance | 8.65% – 10.10% | 8.65% – 10.30% | 8.65% – 10.50% |
| ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
| Kotak Mahindra Bank | 8.90% onwards | 8.90% onwards | 8.90% onwards |
| PNB Housing Finance | 8.50% – 14.50% | 8.50% – 13.00% | 8.50%-10.85% |
| Punjab National Bank | 8.85%-9.60% | 8.80%-9.50% | 8.80%-9.50% |
| Bank of Baroda | 8.90% – 10.65% | 8.90% – 10.65% | 8.90% – 10.90% |
| Union Bank of India | 8.85% – 10.75% | 8.85% – 10.95% | 8.85% – 10.95% |
| IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| L&T Housing Finance | 8.65%-8.75% | 8.65%-8.75% | 8.65%-8.75% |
| Bajaj Housing Finance | 8.75% onwards | 8.75% onwards | 8.70% onwards |
| Tata Capital | 8.95% onwards | 8.95% onwards | 8.95% onwards |
| Federal Bank | 8.60%-9.95% | 8.60%-10.00% | 8.60%-10.05% |
Features of Home Loans offered in Guwahati
Home loan lenders offer interest rates starting from 8.35% per annum on home loans. With loan tenure up to 30 years.
Loan to Value (LTV) ratio for home loans offered by banks, HFCs and NBFCs capped by RBI at 90% for home loans up to Rs 30 lakh, 80% for home loans above Rs 30 lakh Has been done 75 lakh and at 75% for home loans above Rs.75 lakhs.
| Home Loan Amount | Home Loan LTV Ratio |
| Up to Rs 30 lakh | Up to 90% of total cost of property |
| Above Rs 30 lakh and up to Rs 75 lakh | Up to 80% of total cost of property |
| Above Rs 75 lakh | Up to 75% of total cost of property |
Home loan borrowers can use the home loan balance transfer facility to transfer their home loan to another bank/HFC/NBFC at lower interest rates. Home loan customers can opt for the top-up facility on the home loan and use the proceeds to meet their personal/professional needs.
Home loan applicants in Guwahati belonging to the low/middle-income group and economically weaker sections of the society can apply for the Pradhan Mantri Awas Yojana (PMAY) scheme offered by the Government of India.
Home loan lenders in Guwahati also offer pre-approved home loans to their select existing customers. Such applicants are pre-approved by their lenders on the basis of their income, credit score, business profile etc.
RBI does not allow home loan lenders to charge for prepayment of home loans with floating interest rates. However, lenders may charge home loan prepayment charges from their borrowers for home loans with fixed interest rates. Lenders may also waive prepayment charges on home loans with fixed interest rates, at their discretion.
Eligibility Criteria for Home Loan in Guwahati
Following are the home loan eligibility criteria generally prescribed by banks, HFCs and NBFCs that offer home loans in Guwahati:
Job profile
Home loan lenders in Guwahati generally provide loans to salaried employees of the government. Institutions, Public and Private Sector Companies, and Self-Employed Individuals like Doctors, Accountants, Architects, Contractors, Traders, etc.
Age
Banks, HFCs and NBFCs usually sanction home loans in Guwahati to individuals who are at least 18 years old. Apart from this, lenders also require home loan borrowers to repay their loan amount till they reach the age of 70 years.
Nationality
Home loan lenders generally prefer resident Indians as loan applicants, some lenders also offer home loans to NRIs, PIOs and OCIs.
Credit score
Banks / HFCs / NBFCs generally prefer to approve loan applicants from individuals with a credit score of 750 and above as such applicants are considered credible by most lenders. Home loan applicants with high credit scores are also more likely to get a lower interest rate on their housing loan.
Work experience
Lenders providing home loans in Guwahati prefer to sanction home loans to applicants with at least 2 years of business continuity/work experience.
Documents required for home loan in Guwahati
Banks, HFCs, and NBFCs that offer home loans in Guwahati usually ask potential home loan borrowers to submit the following list of documents for availing of a home loan:
For Salaried Applicants
Identity and Age Proof: Aadhaar Card, PAN Card, Birth Certificate, Bank Passbook, Driving License, Voter ID Card, etc.
Income Proof: Last 3 months’ salary slips, letter of promotion/increment, contract of employment, Income Tax Return, last 6 months’ bank statement with salary credits, Form 16, etc.
Proof of Residence: Voter ID Card, Ration Card, Utility Bill (Telephone, Gas, Electricity), LIC Policy Receipt, etc., Bank Passbook, Letter from Public Authority confirming applicant’s address
Additional Documents for Self-Employed Applicants
ITR of last 3 years
Last 6 months current account statement of the business entity and savings account statement of the home loan applicant
- P&L Account and Balance Sheet of last 3 years attested by CA
- Latest Form 26AS
- business address proof
- business license details
- Business Profile of Home Loan Applicant
FAQs
Is SBI better for home loan?
SBI Home Loans are in high demand, owing to their competitive interest rates and impressive turnaround time. Interest rates are as low as 6.95%. The loan process is trackable and quick. The good repayment tenure that extends up to 30 years makes it easy to pay back your home loan as pie.
Which bank has very low home loan interest?
Union Bank of India, Bank of India, and SBI are the banks that are handout stunning interest rates for self-employed professionals and non-professionals with rates starting from 8.25% p.a. to 6.85% p.a. and 8.05% p.a. respectively.
Conclusion:
Today we have given you information about the Best Home Loans in Guwahati: Top List, compare home loan interest rates offered by various banks and HFCs in Guwahati, Eligibility Criteria for Home Loan in Guwahati and all other information about it. We hope you like our information. If any questions or suggestions are in your mind, then you ask in the comment section.
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