What factors cause the rejection of a Home Loan for self employed?

Some common reasons for the rejection of a home loan could be: Inability to meet the home loan eligibility criteria Non-submission of the required documents Low credit score Incomplete or incorrect details in the home loan application If your home loan application is rejected by the lender, find out the exact reason behind it. If a low credit score is responsible, take steps to improve your credit score before reapplying. Also, make sure you check your home loan application thoroughly before submitting it.

What is the Flexi EMI plan?

A home loan can help you purchase or construct your dream house without worrying about the requisite finances. At Tata Capital, we understand your housing finance requirements and provide you with the best home loan. Some benefits of a Tata Capital Home Loan include: Attractive rate of interest Loan tenure up to 30 years Simple eligibility criteria Flexible repayment solutions Instant approval Quick processing Tax benefits Door-to-door services At Tata Capital, we provide two types of home loan repayment plans – Standard EMI Plan and Step-Up Flexi EMI Plan. The Standard EMI Plan allows you to pay fixed EMIs for your entire home loan tenure. On the other hand, the Step-Up Flexi EMI Plan offers greater flexibility for housing loan repayment. With the latter option, you can choose to pay lower EMIs initially and then increase them gradually as your income increases.

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Home Loan for Self Employed

Home Loan for Self-Employed

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Overview Required Documents Rates & Charges

Calculators

Quick Cash

Home Loans for Self-Employed by Tata Capital

Just like salaried individuals, self-employed individuals can also apply for home loans to purchase or construct their houses. It is specifically designed to help self-employed individuals meet their housing finance requirements. However, the eligibility criteria for a housing loan for self employed might differ from that for salaried individuals.

With Tata Capital, you can apply for a home loan for self employed in a few easy steps and get housing finance at competitive interest rates. Our home loan interest rates for self employed start from just 7.75% per annum*. Additionally, we have simple home loan eligibility for self employed and require minimal self employed home loan documents.

Loan amount offered

₹ 5 lakhs to ₹ 5 crores

Loan tenure

Upto 30 years

Interest rate starting @

7.75%* p.a.

View Rates & Charges

Benefits of Housing Loan for Self Employed

Attractive Rate of Interest

With Tata Capital, you can get a home loan for self employed at an attractive rate of interest. Our home loan interest rates for self employed start from just 7.75% per annum*. Moreover, we can determine the best home loan interest rate for you as per your credit score, income, and eligibility.

Loan for Purchase and Construction

With a Tata Capital housing loan for self employed, you can get financing for purchasing a ready-to-move-in house or constructing your house on a piece of land. You can also use a housing loan for self-employed for your home extension or renovation, balance transfer, and much more.

Simple Eligibility Criteria

At Tata Capital, we ask for very basic home loan eligibility for self-employed. As a self-employed individual, you can avail of a home loan from us by fulfilling some simple eligibility requirements, depending upon your age, annual turnover, and business experience.

Fast Approval

At Tata Capital, we provide instant approvals for home loan applications. You can apply for a housing loan for self employed with us and get the loan amount in your bank account within seven to eight working days.

Convenient Loan Tenure

At Tata Capital, you have the flexibility to choose your home loan tenure at your convenience. You can take a housing loan for self-employed for a tenure of as long as 30 years. This ensures that you can pay off your home loan EMIs comfortably, even if your business revenues fluctuate.

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Eligibility Criteria for Home Loan for Self Employed

Home loan eligibility for self employed may vary from one lending institution to another. At Tata Capital, we provide home loans for self-employed with simple eligibility criteria:

The age of the applicant should be between 24 to 65 years

The applicant should have a work experience of at least three years in the current field

The applicant should be running their current business for at least three years

Self Employed Housing Finance Calculator

Net income (monthly)

₹

₹75,000 ₹35,00,000

Monthly obligations

₹

₹75,000 ₹35,00,000

Rate of interest

10% p.a 19% p.a

Tenure

1 Years 6 Years

Congratulations!

You are eligible for a Home Loan upto

Total loan amount

EMI

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Documents Required for Home Loan for Self Employed

Here is the list of documents that applicants must furnish for a smooth home loan application.

Proof of Identity (Voter card, Aadhaar card, Passport)
Proof of Residence (Voter card, Aadhaar card, Passport, Bank Account Statements, Property Tax Receipts, Utility Bills)
Proof Of Income (PAN card, Current Account statements, IT Returns, TAN card)
Property-related documents (Copy of the property purchase agreement)

How to Apply for Self Employed Home Financing

You can apply for a Tata Capital Home Loan for Self Employed through any of the following ways:

Branch

You can visit your nearest Tata Capital branch to apply for a housing loan for the self-employed. We have more than 180 branches across India.

Locate a Branch

Below are the steps to apply for a Tata Capital Home Loan online:

1. Fill online form: Fill out the home loan application form

2. Upload Documents: Upload the required self employed home loan documents

3. Expert Inspection: Wait for the property inspection by our experts.

4. Loan Disbursal: Get the home loan amount in your bank account.

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FAQs on Housing Loan for Self Employed

Yes, you can cancel your home loan even after it has been sanctioned. However, the lender may not refund the home loan processing fees that are charged during the home loan sanction process.

If you want to cancel your home loan after receiving your loan sanction letter, you can write to us or contact us on our helpline number. But make sure you do this well before the loan is disbursed.

Yes, you can extend your home loan tenure as long as it is within the maximum loan tenure offered by your lender. At Tata Capital, we offer home loans with maximum tenures of up to 30 years.

By extending your home loan tenure, you can reduce your EMI burden. To increase your home loan tenure, you can contact us on our customer helpline number or visit your nearest Tata Capital branch.

Some common reasons for the rejection of a home loan could be:

Inability to meet the home loan eligibility criteria
Non-submission of the required documents
Low credit score
Incomplete or incorrect details in the home loan application

If your home loan application is rejected by the lender, find out the exact reason behind it. If a low credit score is responsible, take steps to improve your credit score before reapplying. Also, make sure you check your home loan application thoroughly before submitting it.

A home loan can help you purchase or construct your dream house without worrying about the requisite finances. At Tata Capital, we understand your housing finance requirements and provide you with the best home loan.

Some benefits of a Tata Capital Home Loan include:

Attractive rate of interest
Loan tenure up to 30 years
Simple eligibility criteria
Flexible repayment solutions
Instant approval
Quick processing
Tax benefits
Door-to-door services

At Tata Capital, we provide two types of home loan repayment plans – Standard EMI Plan and Step-Up Flexi EMI Plan. The Standard EMI Plan allows you to pay fixed EMIs for your entire home loan tenure. On the other hand, the Step-Up Flexi EMI Plan offers greater flexibility for housing loan repayment. With the latter option, you can choose to pay lower EMIs initially and then increase them gradually as your income increases.

A self-employed person can get a home loan of up to 5 Crores with Tata Capital. With Tata Capital, you get flexible tenures, attractive interest rates and easy documentation.

You can check your loan eligibility for self-employed by using our Home Loan Eligibility Criteria Calculator. All you have to do if feed in your net income (monthly), monthly obligations, interest rate, and tenure. The calculator will automatically calculate where you’re eligible for the home loan.

The maximum tenure for self-employed home loan is 30 years.

Applicants between the ages of 24 and 65 years can apply for a self-employed home loan.

Yes, a freelancer can apply for a home loan with Tata Capital. Check your eligibility through our Home Loan Eligibility Criteria Calculator.

To learn whether you qualify for a self-employed loan, use Tata Capital’s Home Loan Eligibility Criteria Calculator. Simply feed in your net income (monthly), monthly obligations, interest rate, and tenure. The calculator will automatically calculate where you’re eligible for the home loan.

Yes, you can get a home loan without ITR. Applying for a home loan with a co-applicant, applying for a lower home loan amount, and negotiating based on a positive relationship with the lender can help you get a home loan without ITR.

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With Tata Capital, you can apply for a home loan for self employed in a few easy steps and get housing finance at competitive interest rates.

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With Tata Capital, you can apply for a home loan for women in a few easy steps and get housing finance at competitive interest rates.

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What our customers say about us

Service provided by Manoj Patel in Surat vesu Branch was helpful and because of his support we were able to close loan.

Prakash Patil

Home Loan | 23 Aug, 2024

Excellent A1 Services. The Lady at the Customer Desk is very Cooperative and helpful so that my work completed without the time frame. The name of the Lady is Amruta Pathak. God bless her and her family. Thanks and Regards for the entire team of Tata Capital.

Nandlal Lal Arora

Home Loan | 13 Aug, 2024

Very good & prompt service, and we have spoken to Mr. Manish also, and he always helps us to provide our request. Thank you, Ms Apurva Shende & Manish Padwal

Farhang Ahmed Azar

Home Loan | 24 Jul, 2024

I'm happy with the service and the help I got earlier for foreclosure letter. Thank you so much & thanks to Alisha mam for her guidance.

Akshay Anil Pawar

Home Loan | 17 Jul, 2024

Special thanks to Mr. Avinash for his help rendered with full commitment to his job, answering the queries to me clearly, and follow up so that the work is done in given time to get customer satisfaction.

Hannah Grace

Home Loan | 02 Jul, 2024

Mr Avinash who handled my case is well experienced and has courtesy for customers' concerns. However, some of the Tata Capital products are very expensive when compared to other banks' ones!

Mohammed Shakeel Urrahman

Home Loan | 28 Jun, 2024

Start to end of my loan process was simple and guidance of your team members were to the point. My last communication was with Mr. MANOJ PATEL from surat branch he was very polite and helpful.

Anamika Vijaykumar Tiwari

Home Loan | 20 Jun, 2024

We extend our heartfelt gratitude to Mr. Pravin Sagare, Senior Officer of Customer Service, for his exceptional service. His remarkable demeanor and professionalism during telephonic interactions with customers have been truly outstanding. Over the past two years, we have utilized various services, yet none have matched the quality provided by Mr. Sagare. We are deeply impressed by the exemplary service, due to this reaons we has influenced our decision to obtain a second home loan from TATA Capital Housing Finance Limited.

Avinash Vasantbhai Bhesaniya

Home Loan | 07 Jun, 2024

I had applied for a home loan at Tata Capital & got the it approved quickly. The process was smooth and sanctioned with sufficient amount with tenure period of 20 yrs.

Sumeet Verma

Home Loan | 14 Mar, 2022

Read All

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With this vision, Tata Capital Housing Finance offers affordable home loans at competitive interest rates.

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Tata Capital’s Home Extension Loan is a perfect solution to help you give your family that additional space they deserve.

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A home loan for self-construction or simply a home construction loan is a special type of home loan given to help borrowers construct their own house on a piece of land or plot.

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Home Loan Top-up

A home loan top-up is a facility offered by lenders under which a borrower can take an additional loan over and above their existing home loan.

The home loan top-up facility is available only for existing home loan borrowers without the need for any additional security or guarantee.

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Quick Cash loan is a unique Pre-Approved personal finance top-up linked to your existing Tata Capital Housing Finance Limited (TCHFL) loans. This loan is only for existing TCHFL Home Loan and Home Equity customers.

Apart from its unique features, it also offers other advantages such as faster processing, and a paperless journey, notwithstanding that all this could be availed in just a few clicks at your convenience any day 24*7.

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Balance Transfer

A home loan balance transfer, or simply a home loan transfer, takes place when you transfer your outstanding home loan amount to a new lender from your existing lender.

With Tata Capital Home Loan Balance Transfer, you can transfer your outstanding home loan balance to affordable interest rates. Our home loan interest rates start from just 7.75% per annum*.

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