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Home Loan in Hyderabad

With Tata Capital, you can easily finance your new house in Hyderabad. Here are some benefits of home loans in Hyderabad:

 

  1. 1.Affordable Loans

With Tata Capital, home loans are accessible and more affordable. We provide the lowest interest rates on home loans in Hyderabad. Check our latest interest rates on our website and compare your options.

 

  1. 2.Highest Loan Eligibility

Tata Capital has easy-to-meet eligibility criteria in place. Use our online Home Loan Eligibility Calculator to determine your eligibility in seconds. Upon confirmation of your eligibility, we quickly process your loan, so you do not wait longer than you have to.

 

  1. 3.Flexible Tenure

We also offer flexible repayment tenure of up to 30 years. So, you can move into your new house without difficulty and repay the loan at your convenience.

 

  1. 4.Tailored To Your Needs

Whether it is an apartment or a house you dream of, our home loans will be customized to your needs. If you want to build a brand-new house, you can do that with our home loans in Hyderabad.

 

  1. 5.Income Source

Hyderabad is an IT hub, and professionals from different parts of countries come here for opportunities. A house will be a good investment as you can use it as a rental property.

Know more about our offering

Key Features

Loan Amount

₹2,00,000 - ₹5,00,00,000

Loan Tenure

Up to 30 years

Interest rate starting at

6.70%*

HOME LOAN IN HYDERABAD ADVANTAGES

Bustling IT sector

Given that Hyderabad is one of India’s top IT hubs, people from all across the country flock to this city looking for jobs and houses. If you’re one of them, purchase the house of your dreams with the help of a home loan in Hyderabad. You can also apply for a loan to invest in a decent property within the city to earn a stable rental income.   

High construction quality

In Hyderabad, you tend to get more bang for your buck in terms of construction quality. Since newer properties keep cropping up due to the soaring real estate demand, there’s healthy competition between different developers – each trying to provide higher quality than the other.   

Bustling IT sector

Given that Hyderabad is one of India’s top IT hubs, people from all across the country flock to this city looking for jobs and houses. If you’re one of them, purchase the house of your dreams with the help of a home loan in Hyderabad. You can also apply for a loan to invest in a decent property within the city to earn a stable rental income.   

High construction quality

In Hyderabad, you tend to get more bang for your buck in terms of construction quality. Since newer properties keep cropping up due to the soaring real estate demand, there’s healthy competition between different developers – each trying to provide higher quality than the other.   

What are the Interest Rates for Home Loans in Hyderabad?

The housing loans in Hyderabad are incredibly affordable, especially if you opt for one at Tata Capital! Refer to our rates in the next section and see for yourself. Know that opting for housing finance at this time will help you buy a better property than you perhaps had initially planned.

Simply because the home loan interest rates in Hyderabad are low, which means you'll pay a lower EMI and can borrow a bigger sum.

So, take advantage of one of the lowest home loan rates in Hyderabad before they shoot up again with Tata Capital. You won’t regret it!   

What is the Eligibility Criteria for Home Loan in Hyderabad?

  • You must be between 24 and 65 years of age
  • Salaried employees must draw a minimum salary of Rs. 30,000 with a work experience of at least two years
  • Self-employed professionals must possess at least three years of work experience in their current field of expertise
  • NRIs (Non-Resident Indians) should be salaried individuals with a minimum work experience of three years.

What are the Documents Required for Getting a Home Loan in Hyderabad?

  • Age Proof: Driving licence, valid passport, birth certificate, PAN card, school leaving certificate, life insurance policy
  • Photo Identity Proof: Valid passport, voter ID card, Aadhar card, PAN card, driving license
  • Residence Address Proof: Bank statements, utility bills, property tax receipt, property registration documents
  • Business Proof: Registration certificate for commencement of business, your business profile on letterhead, copy of the last two year’s income tax returns
  • Income Proof: Previous six months’ operative current account statement, bank statements for the previous six months of CC, OD facilities (if taken), copy of the previous three years’ P/L projection statement

 

Check out the complete list of home loan documents

How to Calculate EMI for Home Loan Online?

If you’re planning to opt for a home loan in Hyderabad, it’s natural to be curious about the kind of monthly instalments you’d pay. Nip the uncertainty in the bud by using the online home loan EMI calculator on our website.

Why waste time guessing and using a pen and paper calculating your tentative monthly instalment when an EMI calculator can do the same within seconds. Just input the total loan amount you want, your desired tenure and the potential rate of interest to calculate your monthly EMI.

Yes, it’s that simple! What’s more, you can try different combinations of amounts, tenures and ROIs until you find the one most comfortable to you. This way, you at least have a fair idea of your potential EMIs.

A home loan EMI calculator is a great tool that helps you figure out how much you can borrow and inform you on the total interest you’ll pay by the end of your home loan tenure. 

HOW TO APPLY FOR A HOME LOAN ONLINE IN HYDERABAD

Offline Application Process

  • Customer care –18602676060
  • Email – contactus@tatacapital.com
  • Registered Branch – TCHFL, Plot 3, 4, 5 & 6, Road #3, Auto Plaza, Opp. Times of India, Banjara Hills, Hyderabad-500034

FAQ

Maximum of 30 years is provided to repay a loan. This is subject to retirement age of the borrower or 65 years in the case of self-employed applicant. 

Our interest rates begin from 7.75%* and are highly competitive. We offer concessional interest rates to women beneficiaries. Additionally, we provide subsidized home loans to low income groups under PMAY subsidy.  

Home loans serve the primary purpose of purchasing a property or facilitating the construction of one for home buyers. Different types of home loans are taken for different purposes such as –

  • Purchase of Land 
  • Readymade Home Purchase 
  • Home Construction 
  • House Expansion or Extension 
  • Home Conversion 
  • Home Renovation 
  • Loans Against Property or Mortgage Loan

A co-applicant in a home loan is an individual who will be equally responsible to repay the home loan just as the main borrower. He or she has to apply for the home loan along with the main borrower. Lenders will take the co-applicant’s income and credit standing into consideration as well. 

Home loan co-applicants can only be immediate family members or blood relatives. Up to six co-applicants are permitted per home loan application. The following can be co-applicants in a joint home loan –

  • Spouse
  • Father 
  • Mother 
  • Brother who is not a minor 
  • Sister who is not a minor 
  • Son who is not a minor 
  • Daughter who is not a minor 

The time taken for the sanctioning of home loans varies depending upon whether you are a salaried individual, self-employed individual or entrepreneur. Typically,

  • For salaried individuals, home loans can be sanctioned within 4 to 5 business days
  • For self-employed individuals, it may take around 7 to 8 business days to get home loan sanctioned 

Tax benefits on home loans may be availed during filing of annual income tax returns. Home loan borrowers are eligible for tax benefits on home loan as per Section 80 C of the Income Tax Act. The following tax benefits can be availed by home loan borrowers -

  • Deduction for Interest Paid on Housing Loan - The interest portion of the EMI paid for home loan in the year can be claimed as a deduction from your total income. This amount must not exceed a maximum of Rs 2 lakhs as per Section 24
  • Deduction on Principal Repayment - The Principal portion of the home loan EMI paid for the year is allowed as deduction under Section 80C. The maximum amount that can be claimed is up to Rs 1.5 lakh. However, to claim this deduction, the house property should not be sold within 5 years of possession.
  • Additional Deduction under Section 80 EEA – 2019’s Budget has introduced additional deduction under Section 80EEA for home buyers for maximum up to Rs 1,50,000, provided the stamp value of the property does not exceed Rs 45 lakhs. The loan must have been sanctioned between 1 April 2019 and 31 March 2020 to avail this benefit.

If your home loan interest rate hikes, you can reduce your housing loan tenure in the following ways –

  • Increasing your EMI
  • Making a part pre-payment of your housing loan, or
  • A combination of both the ways mentioned above

If you wish to reduce your home loan tenure, visit the nearest loan-serving branch. Once the EMI has been changed, submit new Electronic Clearance Service (ECS) mandate/Post-Dated cheques with the updated EMI amount to get your home loan tenure reduced. 

Home loan is taken for a property whereas a mortgage loan is taken against a property - For a home loan, an applicant borrows money from a lending institution at a given interest rate for buying, constructing, or upgrading of a property.  

For a mortgage loan, financial institutions or lenders extend the mortgage by securing a property. So, though the property is considered to be the collateral for the loan amount, it is the lending institution that is the actual owner of the property till full loan repayment.

 

A fixed interest rate is completely market independent whereas a floating interest rate varies throughout the loan tenure based on changes in the market forces.   With Tata Capital, you get the flexibility to opt for Fixed Rate Home Loan or Home Equity Loan for the initial three years of your home loan tenure following which there will be an automatic change to floating interest rates for the rest of the tenure.

Yes, it is possible for you to prepay your home loan, either in part or in full, keeping the following in mind – 

  • You need prior written approval of the lending authority
  • You need to consider pre-payment charges levied by your lending institution 
  • There could also be a minimum pre-payment amount limit set by your lending authority that you need to consider

Yes, you can take a joint home loan to increase your home loan eligibility. In case of a joint home loan, the income and credit standing of the co-applicant will also be taken into consideration. You can take a joint home loan with the following –

 

  • Your spouse 
  • Your parents 
  • Your children 
  • Your siblings 

 

Basically, anybody who makes up your immediate family is eligible for becoming a co-applicant.

Yes, a sanctioned home loan can be cancelled. However, the processing fees charged during the home loan sanction process will not be refunded. If you want to cancel your loan after receiving your home loan sanction letter, write to your lender. Make sure you do this well before the loan’s disbursal.

Yes, you can extend your home loan tenure as long as it is within your lenders’ terms and conditions. At Tata Capital, the home loan maximum tenure is 30 years.

By extending your tenure, you can reduce the burden of EMIs. You can contact your lender or visit their branch to apply for a tenure extension.

Some common home loan rejection reasons are unmet eligibility criteria, low income, low credit score, and incomplete or incorrect details in your loan application.

If your application was rejected, find out why. If needed, wait for your income and credit score to improve and apply again. Make sure you check your application thoroughly before submitting.

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