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Home Loan in Kolkata

Tata Capital offers instant home loans so you can easily purchase or construct your dream house. Here are some features of a home loan in Kolkata:

 

  1. 1.Competitive Interest Rates

Tata Capital extends competitive interest rates on home loans in Kolkata. Lower interest rates mean your monthly instalments are much more affordable.

 

  1. 2.Customised Loan for Your Needs

With Tata Capital, you can take a loan of Rs. 2 Lakhs to Rs. 5 Crores depending on your housing needs. You can use our online Home Loan Eligibility Calculate to calculate the amount you can borrow.

 

  1. 3.Easy Loan Approval

Tata Capital makes it easy for you to apply for home loans in Kolkata. Our eligibility criteria are simple, and our approval process is quick. So, you can move into your new house without delay.

 

  1. 4.Flexible Tenure

With Tata Capital, you can opt for a flexible tenure of up to 30 years and easily repay the loan.

 

  1. 5.Safe Investment

Kolkata is going through rapid suburban development, and properties have increased in value in those areas. It is the right time to capitalise on the opportunity and secure a valuable asset.

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 Kolkata Advantages

Good properties available in central areas

It’s often difficult to find affordable housing in the central areas of bustling metropolises, but Kolkata is not like that. You can still find vacant and good quality housing in prime areas within the city. To fund these, home loan in Kolkata are also readily available. 

Rapid suburb development is on track

Kolkata's beautiful Rajarhat and New Town suburbs are developing rapidly, with several IT and business parks ready and operational. Due to this, many apartments and bungalow townships have also sprouted in this area at affordable prices. 

Good properties available in central areas

It’s often difficult to find affordable housing in the central areas of bustling metropolises, but Kolkata is not like that. You can still find vacant and good quality housing in prime areas within the city. To fund these, home loan in Kolkata are also readily available. 

Rapid suburb development is on track

Kolkata's beautiful Rajarhat and New Town suburbs are developing rapidly, with several IT and business parks ready and operational. Due to this, many apartments and bungalow townships have also sprouted in this area at affordable prices. 

What are the Interest Rates for Home Loans in Kolkata?

Wondering where you can find some of the lowest home loan interest rates in Kolkata. Try Tata Capital! Listed below are our base interest rates for housing finance in Kolkata. Check them out and start your loan application with us.

Know that with home loan interest rates in Kolkata being as affordable as shown below, you can buy a bigger and better property in the neighbourhood of your choosing.

So, instead of postponing the purchase of your real estate investment or dream housing, award yourself the luxury of getting one within a matter of days. How? By taking a housing loan in Kolkata with Tata Capital. 

What is the Eligibility Criteria for Home Loan in Kolkata?

  • Applicant should be between the age of 24 - 65
  • Salaried employees must be drawing a minimum salary of Rs. 30,000 with at least a work experience of two years
  • Self-employed professionals must possess at least three years of work experience in their current field of expertise

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

  • Age Proof
  • Photo Identity Proof
  • Residence Address Proof
  • Income Proof
  • Existing Loan Details

 

To check out the list our valid documents, visit our home loan documents page.

How to Calculate EMI for Home Loan Online?

Before availing of a home loan in Kolkata, it’s prudent to know your potential EMI or Equated Monthly Instalment. To do this, you can use an online home loan EMI calculator available on our website.

Input the loan amount you wish to borrow along with the tenure you’re comfortable with and a tentative interest rate to know your monthly EMI. If you’re not happy with the first result, keep trying different combinations until you reach the one you like.

Know that an online home loan calculator can help you figure out the total amount of home loan in Kolkata you should borrow. Once you know this, figure out a home loan repayment plan, and apply for housing finance with us. 

HOW TO APPLY FOR A HOME LOAN ONLINE IN KOLKATA

Offline Application Process

  • Customer care – 1860 267 6060
  • Email – contactus@tatacapital.com
  • Registered Branch – TCHFL, Flat 2 C & 2 D, 2nd Floor, South Block, Park Plaza, 71 Park Street, Kolkata – 700016

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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