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Lowest interest rates starting at 8.95%*
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PERSONAL LOAN INTEREST RATES STARTING AT 10.99%
PERSONAL LOAN INTEREST RATES STARTING AT 13.50%
MARRIAGE LOAN FUNDING UP TO RS. 35 LAKHS
LOANS FOR MEDICAL NEEDS ON AN EMERGENCY BASIS
AVAIL TAX BENEFITS ON EDUCATION LOANS FOR HIGHER STUDIES
PERSONAL LOANS FOR ALL YOUR TRAVEL NEEDS
HOME RENOVATIONS LOANS FOR YOUR HOUSING NEEDS
HOME LOANS WITH INSTANT APPROVALS STARTING AT 8.95%
CUSTOMISED SOLUTIONS FOR HOME EXTENSION NEEDS WITH TENURE UP TO 30 YEARS
UNDER THE PRADHAN MANTRI AWAS YOJNA SCHEME, AVAIL INTEREST RATE SUBVENTION STARTING AT 4%
PERSONAL LOAN INTEREST RATES STARTING AT 10.99%
PERSONAL LOAN INTEREST RATES STARTING AT 13.50%
MARRIAGE LOAN FUNDING UP TO RS. 35 LAKHS
LOANS FOR MEDICAL NEEDS ON AN EMERGENCY BASIS
AVAIL TAX BENEFITS ON EDUCATION LOANS FOR HIGHER STUDIES
PERSONAL LOANS FOR ALL YOUR TRAVEL NEEDS
HOME RENOVATIONS LOANS FOR YOUR HOUSING NEEDS
HOME LOANS WITH INSTANT APPROVALS STARTING AT 8.95%
CUSTOMISED SOLUTIONS FOR HOME EXTENSION NEEDS WITH TENURE UP TO 30 YEARS
UNDER THE PRADHAN MANTRI AWAS YOJNA SCHEME, AVAIL INTEREST RATE SUBVENTION STARTING AT 4%
ONE STOP SHOP FOR BUSINESS FINANCING UP TO RS. 50 CRORES
LOAN AGAINST PROPERTY UP TO RS. 3 CRORES WITH FLEXIBLE LOAN TENURES
UNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
UNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
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Features of Home Loan in Vishakhapatnam
Tata Capital brings you instant home loan offerings for you to purchase or construct your dream home. Here are some of the salient features of a home loan in Vishakhapatnam-
1.Competitive interest rates
With Tata Capital, you can avail an affordable home loan as we offer some of the lowest interest rates in Vishakhapatnam. Check out our competitive home loan interest rates and be ready to move into your new home sooner!
2.Highest home loan eligibility
Tata Capital's easy-to-meet eligibility criteria ensure a smooth loan approval and disbursal process. Use our home loan eligibility calculator to determine your eligibility within seconds!
3.Investment for your Future
In a developing city like Vishakhapatnam, owning a home is more than just a dream you need to fulfil. Thanks to its thriving industrial and commercial sector, buying a property in Vishakhapatnam is an excellent investment opportunity. Tata Capital's affordable home loans will make this future investment convenient for you, as you can receive the required funds in no time!
4.Multipurpose
Whether you want to construct a house, purchase a ready-to-move-in apartment, or redesign your home to reflect your lifestyle, we have tailor-made home loan offerings for all your needs.
5.Flexible tenure
Tata Capital's customised home loans come with an extended tenure of up to 30 years, making loan repayment extra convenient!
In addition to tourism and shipping industries, Vishakhapatnam also houses thriving fishing, pharmaceutical, IT, and import-export industries. This compels individuals from all across South India and other locations to buy residential real estate within the city.
Since the division of Telangana and Andhra Pradesh, the Andhra Pradesh State Government is pooling efforts to further develop Vishakhapatnam. This has led to an increase in the demand for real estate within the city, and subsequently, the demand for home loan in Vishakhapatnam.
Ample business and job opportunities
In addition to tourism and shipping industries, Vishakhapatnam also houses thriving fishing, pharmaceutical, IT, and import-export industries. This compels individuals from all across South India and other locations to buy residential real estate within the city.
Experiencing a real estate boom
Since the division of Telangana and Andhra Pradesh, the Andhra Pradesh State Government is pooling efforts to further develop Vishakhapatnam. This has led to an increase in the demand for real estate within the city, and subsequently, the demand for home loan in Vishakhapatnam.
Your loan's interest rate is one of the most important components as it increases or decreases your total monthly instalment amount. Fortunately, taking a housing loan in Vishakhapatnam has never been easier, as the interest rates are at an all-time low.
What’s more, by availing of some of the lowest home loan rates in Vishakhapatnam at Tata Capital, you can increase your total loan amount and buy a house that was going out of your budget range before.
Check out our affordable home loan interest rates in Vishakhapatnam, and file your housing finance application today!
To avail a home loan in Vizag, you need to meet some fundamental home loan eligibility criteria:
Use our Home Loan Eligibility Calculator to find out your eligibility quickly.
Calculating your loan’s EMI or monthly instalments has never been easier, thanks to a home loan EMI calculator. You can find this tool on our website and figure out the exact EMI you’ll need to pay. Simply input the loan amount you wish to borrow, the tentative tenure you’d be comfortable with, and the interest rate you think you qualify for.
The minute you input these three values, the calculator will show you your EMI. You can also keep readjusting the values on the calculator till you reach a more desirable figure. A home loan EMI calculator can help you decide how much home loan in Vishakhapatnam to borrow. You can also figure out a repayment plan once you know your tentative EMI.
Gone are the days when applying for housing finance meant taking time off your busy schedule and visiting your lender’s branch. With our online home loan application portal, you can start and file your loan application within minutes.
Want to apply for a home loan in Vishakhapatnam? Click on the 'Apply Now' tab to fill out a digital form. After which, we will quickly check if your application matches our eligibility criteria and ask you for relevant documents.
Our experts will then inspect the property you wish to buy and hand you your E-sanction letter if everything checks out.
And, that’s it! Once we approve your home loan, you’ll receive the amount in your bank account within a few days. So, you see, how easy it is to apply for a housing loan in Vishakhapatnam?
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 –
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 –
The time taken for the sanctioning of home loans varies depending upon whether you are a salaried individual, self-employed individual or entrepreneur. Typically,
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 -
If your home loan interest rate hikes, you can reduce your housing loan tenure in the following ways –
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 –
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 –
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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