Home / Home Loan in Pune

Home Loan in Pune

Pune is a cultural capital of Maharashtra and was once the seat of Peshwa of the Maratha Kingdom who built an elegant Shaniwar Wada.

The other fascinating historical buildings consist of majestic Lal Mahal, mesmerizing Vishram Baug Wada, classic Nana Wada, wonderful Mahadji Shinde Chhatri, exquisite Aga Khan Palace, excellent Mahatma Phule Wada, rock-cut Pataleshwar Temple, and many more marvelous creations.

Pune is known as “Oxford of the East”. It also has various mesmerizing educational buildings like the Pune University, Engineering college, Fergusson college, Film, and Television Institute of India, Armed Force Medical College, National Defense Academy, and many more great examples cultural heritage of Pune.

Today the city is an IT hub and so it does has great buildings like Infosys Building, Tata Technologies Campus, Eon IT Park, and many more fantastic corporates.

Pune is a combination of Ancient Wadas and Modern buildings and LoansXpert are the consultants which will guide you in taking the most suitable home loan for your dream house.

How to Get Home Loan in Pune:

Everyone in their life wishes to have their own house and that too without depending on anyone else for the funds, so in that case, the home loan will assist you in buying the house you wished for.

You can get a large amount of loan at the lowest interest rates in Pune. The loan amount is required to be repaid by paying Equated Monthly Installments within the set tenure. Generally, the longer the tenure, the low EMI rate would be applicable.

There are many banks providing the cheapest Home loan in Pune that also offers various other features like home loan insurance, Loan approval even before a property is selected and Flexible loan repayment options, etc.

Benefits of Home Loan

EMIs paying is better than rent-paying:

Paying rent will not make you an owner of the house, however paying EMIs will surely make you the owner of the house as the house will be only yours. Also, the EMIs will be cheaper than the rent in big metro cities like Pune.

Enjoy appreciation in the property rates:

The rate at which you buy property today have the fine chances of its value increasing in the future. That means the price of your house will be more than today.

No hassle of prepayment charges:

Prepayment charges will not be applicable if you pay your interest amount earlier than the prescribed date. However, In the case of floating rate home loan, there will be prepayment charges applicable.

Longer Tenure Period attracts low EMIs rate:

As compared to the other types of loans, A home loan period has a tenure up to 30 years. If the tenure is longer then you will be required to pay EMIs at low-interest rates.

Balance Transfer Facility:

There are many home loan providers in Pune that offer balance transfer facility, Hence it is possible to transfer the loan to a different bank where the interest rates are low.

Tax Benefits of Home Loan

There are tax deductions on the principal as well as on the interest to be paid on it.

According to Section 80C of Income Tax of India 1971 Act, a deduction of up to Rs 1.5 lakhs is allowable for a financial year. And according to the Section 24 B of Income tax of India Act, Rs 2 lakhs of the deduction is allowable on the interest portion. However, tax benefits can only be granted if the construction of the house completed

The required documents for a Home loan in Pune

Here are the common documents that are required to be submitted by the salaried, self-employed professionals.

Document Type	For a salaried employee	For a self-employed person
Government Approved Identity Proof	Required	Required
Address Proof	Required	Required
Proof of income	Required	Required
Bank Statement	Required	Required
Address Proof for Business Entities	NA	Required
Property Documents	Required	Required
Other documents(Given Below)	Required	Required
ITR filings	NA	Required

List of Documents

Government Approved Identity Proof (any one of these)

Aadhaar
Voting card
Passport
Driving license
Pan Card

Address Proof (any one of these)

Ration card
Electricity bill, not more than 3 months old
Passport

Proof of Income (Submit only the required form the list)

Salary slips of the last 3 months.
Form 16
Working certificate from the employer
Increment or Promotion letter
last 3 years CA audited financial statements consisting of the Balance
sheet and Profit & Loss account statement.
Business License Details
The license of professional practices by doctors, consultants, lawyers, etc.
Certificate of Establishment in terms of shops, factories, or any other establishments.
Proof of Business Address

Bank Statement

Last 6 months of the bank statement

Property Documents

NOC from society/builder
Report on the estimation of the cost of construction
Property Tax Receipts,
Registered Sale Deed, Allotment Letter of Sale from the Builder
Maintenance Bills
Copy of a building plan or floor plan
Receipts of the advance payment done for the purchase of property
Occupancy Certificate

ITR Fillings

ITR Fillings of the previous 2 to 3 years.

Bank Statement

Last 6 months of the bank statement

Property Documents

NOC from society/builder
Report on the estimation of the cost of construction
Property Tax Receipts,
Registered Sale Deed, Allotment Letter of Sale from the Builder
Maintenance Bills
Copy of a building plan or floor plan
Receipts of the advance payment done for the purchase of property
Occupancy Certificate

Other Documents

Business profile
Processing fee cheque
Educational qualification certificate

Eligibility criteria

Following are the eligibility criteria to avail the Home Loan in Pune:

You can apply for the loan individually or jointly. The other person should be a family member.
The applicant should have a minimum age of 21 years at the time of loan application and not more than 65 years at the end of the loan tenure.
The Applicant should have had a job or business for at least 3 years and a minimum of 1 year with your current employer or business.
Minimum Annual Income should be Rs 2,00,000, including that of your spouse.
The person should have a telephone or a mobile.

Home Loan Interest rates by well-known banks in Pune 2019

There are many banks which offer different interest rates on home loans. We have filtered interest rates of some of the best banks in Pune. Following is the list of ten banks in Pune providing home loans:

Bank Name	Interest Rate
SBI Home Loan	8.75% – 9.15%
PNB Housing Finance	9.00% – 9.95%
PNB Home Loan	8.70% – 8.80%
LIC Housing Finance	8.85% – 9.25%
Indiabulls Home Loan	8.80% – 10.25%
ICICI Home Loan	9.10% – 9.30%
HDFC Ltd Home Loan	8.80% – 9.25%
DHFL Home Loan	8.70%
Axis Bank Home Loan	8.95% – 9.15%

How to avail the lowest rate of interest on home loans in Pune

There are many lenders in the market nowadays. Before applying for the home loan you must compare them and it’s a headache to compare them all.

If you want to get your dream home without burning all your saving on EMIS. Then Just contact us we will take care of entire loan form that moment.

LoansXpert will study your case and suggest the best plan execution for your home loan. So we can get it disbursed quickly with the best interest rate.