Best Home Loan Services
Turn Your Dream Home into Reality
Buying a home is a lifetime goal — and we make it simpler. Our expert advisors compare multiple home loan offers and guide you toward the one that matches your budget and goals.
Why RS Credit Mantra:
Access to multiple lenders via single application
Expert EMI and repayment guidance
End-to-end loan documentation support
Home loan balance transfer assistance
- Features
- Eligibility
- Documents Required
- Home Loan Tips
Features & Benefits of Home Loan
- Capital appreciation
- Sense of accomplishment
- Tax benefits on interest and principal components
- Zero prepayment charges
- Home loan top up and balance transfer facility
- Long repayment tenure of up to 30 years
- High loan amount of up to 5 Crores (can be more in some cases)
- Makes it easy to purchase a new or resale house/apartment/plot, house construction, or even renovation of an existing house.
- Repayment holiday facility
- Loan available as term loan and overdraft
- Fixed, floating, and hybrid rates of interest available
Home Loan Eligibility Criteria
Various factors go into the determination of your Home Loan eligibility. The basic rules for salaried people and self-employed people are the same. Some banks stipulate a higher take-home pay percentage for self-employed persons.
- Your current income: Salaried employees can submit salary slips for the last three months and furnish a bank statement for the past six months where their salary is credited. Self-employed professionals should submit the statement of accounts for one year where they receive the credits for the services rendered by them.
- Continuity of employment/business: Salaried employees can rely on their income tax returns, Form 16, Form 26AS, etc to display their continuity of employment. They can also show a statement of the Provident Fund account to establish the links. Self-employed businessmen and professionals can furnish the income tax returns along with other financial statements like balance sheet and profit and loss statements. They can also furnish copies of invoices raised by their clients.
- Current obligations: It is possible that an applicant might have pre-existing personal loans, vehicle loans, and other loans for which they might be paying instalments. You have to account for these instalments as well while calculating Home Loan eligibility.
- Credit history: The repayment track record of the applicant is of utmost importance. Every bank or financial institution is a member of CIBIL or another credit bureau. These bureaus keep track of the loan activities of every borrower. Based on this information, they generate your credit history profile and quantify the same by generating your credit score. This is a number ranging between 300 and 900. The higher your score, the better are your chances of getting a loan. Naturally, it goes without saying that defaults, frequent requests for loans or missing payments can pull down your credit score. A score of 600 and above is considered fair for determining HL eligibility.
- Value of the property: The value of the property you purchase is important. The financing bank needs to determine the cost of the project it is going to finance. Banks usually finance up to 75% - 90% of the value of the property (also known as LTV or Loan to Value Ratio) with the balance being your contribution or margin as they call it.
- Legal position: The prime security for any home loan is a mortgage of the land and building they have financed. You have to create the mortgage and register the same with the respective registering authorities. In order to do so, you must be legally empowered to create the mortgage. Hence, banks and financial institutions insist on a legal scrutiny report from their panel of advocates who carry out a search for the previous 30 years to establish the ownership chain.
- Age of the borrower: The minimum age of the borrower at the time of home loan application should be 21. The age at the time of maturity should generally be 65 years. Some banks stretch this limit to 70 years.
Home Loan Documents Required
Every customer has to satisfy the Know Your Customer (KYC) norms stipulated by RBI. You have to provide the documents relating to your KYC, employment, business, and income.
Identity Proof
- PAN Card
- Aadhar Card
- Voter ID
- Driving Licence
- Passport
- Registered Rent agreement
- Aadhar Card
- Driving License
- Lease agreement
- Passport
- Latest Gas or electricity bill
- Loan application form duly filled in
- Photographs
- Signature Proof
- Copies of all property documents that can establish the chain of ownership for the past 30 years.
- Encumbrance certificate for 30 years
- Property tax paid receipt in case you reside in the property being mortgaged (usually when you apply for Home Loan Balance Transfer).
- Salary slips for the last 6 months in case you are a salaried employee (In addition, you can provide IT returns for the past 3 years along with Form 16).
- IT returns for the past 3 years in case you are self-employed (Some banks accept 2 years IT returns as well).
- Statement of A/c for the past 1 year where your salary is credited (in case of salaried people).
- Profit and Loss statement and Balance sheet for the last 2 years in case of self-employed persons.
- Sales tax, GST registration certificates, if applicable.
- Partnership deed in case of partnership firms (if the applicant is one of the partners).
- Certificate of Incorporation in case of limited companies(if the applicant is one of the directors).
- Employer identity card
- Valid passport and visa (attested copy)
- Address proof with the current overseas address
- Copy of Continuous Discharge Certificate (CDC) for merchant navy employees.
- PIO card issued by Government of India (for PIOs)
- Documents must be attested by FOs/Rep. Offices or Overseas Notary Public or Indian Embassy/Consulate or officials of Branch/Sourcing outfits based in India.
- Home loan application - completed and duly filled
- 3 passport size photographs
- Identity proof (any one): PAN/ Passport/Driving License/Voter ID Card
- Residence proof (any one): Recent copy of Utility Bills/Piped Gas Bill/Passport/Driving License/Aadhar Card.
- For Salaried
- Valid work permit
- Employment contract with an English translation (if it’s in another language) duly attested by employer/consulate/Indian foreign office/Embassy.
- Last 3 months’ salary certificate or salary slips
- Last 6 months’ bank statements showing salary credit
- Latest salary certificate or salary slip in original
- Last year’s Individual Tax Return (duly acknowledged copy) except for NRIs/PIOs located in Middle East countries & Merchant Navy employees.
- For Self-employed
- Business address proof
- Income proof in case of self-employed professionals/businessmen.
- Last 2 years’ balance sheet and P&L accounts (audited/C.A. certified).
- Last 2 years’ Individual Tax Return except for NRIs/PIOs located in Middle East countries
- Last 6 months’ bank statements of overseas account(s) in the name of individual as well as company/unit.
Home Loan Effectively Tips & Advice
To make the most of the home loan offers, here are few tips that can help you:
- Choose a lower repayment tenure to avoid paying exuberant amounts towards your interest rate.
- Make sure you repay your EMI on or before the due date to prevent late payment charges and lower credit scores.
- If you have the option to transfer the balance to a bank that offers a lower rate of interest, opt for it.
- Take a loan quantum that you need even if you are eligible for a higher LTV.
Home Loan Products
Build your dream home with confidence. RS Credit Mantra connects you to banks offering competitive interest rates and flexible repayment options.
Features:
Up to 90% of property value financed
Tenure up to 30 years
Home purchase, construction & balance transfer options
EMI consultation and pre-payment flexibility
Best Home Loan Services
Turn Your Dream Home into Reality
Buying a home is a lifetime goal — and we make it simpler. Our expert advisors compare multiple home loan offers and guide you toward the one that matches your budget and goals.
Why RS Credit Mantra:
Access to multiple lenders via single application
Expert EMI and repayment guidance
End-to-end loan documentation support
Home loan balance transfer assistance
- Features
- Eligibility
- Documents Required
- Home Loan Tips
Features & Benefits of Home Loan
- Capital appreciation
- Sense of accomplishment
- Tax benefits on interest and principal components
- Zero prepayment charges
- Home loan top up and balance transfer facility
- Long repayment tenure of up to 30 years
- High loan amount of up to 5 Crores (can be more in some cases)
- Makes it easy to purchase a new or resale house/apartment/plot, house construction, or even renovation of an existing house.
- Repayment holiday facility
- Loan available as term loan and overdraft
- Fixed, floating, and hybrid rates of interest available
Home Loan Eligibility Criteria
Various factors go into the determination of your Home Loan eligibility. The basic rules for salaried people and self-employed people are the same. Some banks stipulate a higher take-home pay percentage for self-employed persons.
- Your current income: Salaried employees can submit salary slips for the last three months and furnish a bank statement for the past six months where their salary is credited. Self-employed professionals should submit the statement of accounts for one year where they receive the credits for the services rendered by them.
- Continuity of employment/business: Salaried employees can rely on their income tax returns, Form 16, Form 26AS, etc to display their continuity of employment. They can also show a statement of the Provident Fund account to establish the links. Self-employed businessmen and professionals can furnish the income tax returns along with other financial statements like balance sheet and profit and loss statements. They can also furnish copies of invoices raised by their clients.
- Current obligations: It is possible that an applicant might have pre-existing personal loans, vehicle loans, and other loans for which they might be paying instalments. You have to account for these instalments as well while calculating Home Loan eligibility.
- Credit history: The repayment track record of the applicant is of utmost importance. Every bank or financial institution is a member of CIBIL or another credit bureau. These bureaus keep track of the loan activities of every borrower. Based on this information, they generate your credit history profile and quantify the same by generating your credit score. This is a number ranging between 300 and 900. The higher your score, the better are your chances of getting a loan. Naturally, it goes without saying that defaults, frequent requests for loans or missing payments can pull down your credit score. A score of 600 and above is considered fair for determining HL eligibility.
- Value of the property: The value of the property you purchase is important. The financing bank needs to determine the cost of the project it is going to finance. Banks usually finance up to 75% - 90% of the value of the property (also known as LTV or Loan to Value Ratio) with the balance being your contribution or margin as they call it.
- Legal position: The prime security for any home loan is a mortgage of the land and building they have financed. You have to create the mortgage and register the same with the respective registering authorities. In order to do so, you must be legally empowered to create the mortgage. Hence, banks and financial institutions insist on a legal scrutiny report from their panel of advocates who carry out a search for the previous 30 years to establish the ownership chain.
- Age of the borrower: The minimum age of the borrower at the time of home loan application should be 21. The age at the time of maturity should generally be 65 years. Some banks stretch this limit to 70 years.
Home Loan Documents Required
Every customer has to satisfy the Know Your Customer (KYC) norms stipulated by RBI. You have to provide the documents relating to your KYC, employment, business, and income.
Identity Proof
- PAN Card
- Aadhar Card
- Voter ID
- Driving Licence
- Passport
- Registered Rent agreement
- Aadhar Card
- Driving License
- Lease agreement
- Passport
- Latest Gas or electricity bill
- Loan application form duly filled in
- Photographs
- Signature Proof
- Copies of all property documents that can establish the chain of ownership for the past 30 years.
- Encumbrance certificate for 30 years
- Property tax paid receipt in case you reside in the property being mortgaged (usually when you apply for Home Loan Balance Transfer).
- Salary slips for the last 6 months in case you are a salaried employee (In addition, you can provide IT returns for the past 3 years along with Form 16).
- IT returns for the past 3 years in case you are self-employed (Some banks accept 2 years IT returns as well).
- Statement of A/c for the past 1 year where your salary is credited (in case of salaried people).
- Profit and Loss statement and Balance sheet for the last 2 years in case of self-employed persons.
- Sales tax, GST registration certificates, if applicable.
- Partnership deed in case of partnership firms (if the applicant is one of the partners).
- Certificate of Incorporation in case of limited companies(if the applicant is one of the directors).
- Employer identity card
- Valid passport and visa (attested copy)
- Address proof with the current overseas address
- Copy of Continuous Discharge Certificate (CDC) for merchant navy employees.
- PIO card issued by Government of India (for PIOs)
- Documents must be attested by FOs/Rep. Offices or Overseas Notary Public or Indian Embassy/Consulate or officials of Branch/Sourcing outfits based in India.
- Home loan application - completed and duly filled
- 3 passport size photographs
- Identity proof (any one): PAN/ Passport/Driving License/Voter ID Card
- Residence proof (any one): Recent copy of Utility Bills/Piped Gas Bill/Passport/Driving License/Aadhar Card.
- For Salaried
- Valid work permit
- Employment contract with an English translation (if it’s in another language) duly attested by employer/consulate/Indian foreign office/Embassy.
- Last 3 months’ salary certificate or salary slips
- Last 6 months’ bank statements showing salary credit
- Latest salary certificate or salary slip in original
- Last year’s Individual Tax Return (duly acknowledged copy) except for NRIs/PIOs located in Middle East countries & Merchant Navy employees.
- For Self-employed
- Business address proof
- Income proof in case of self-employed professionals/businessmen.
- Last 2 years’ balance sheet and P&L accounts (audited/C.A. certified).
- Last 2 years’ Individual Tax Return except for NRIs/PIOs located in Middle East countries
- Last 6 months’ bank statements of overseas account(s) in the name of individual as well as company/unit.
Home Loan Effectively Tips & Advice
To make the most of the home loan offers, here are few tips that can help you:
- Choose a lower repayment tenure to avoid paying exuberant amounts towards your interest rate.
- Make sure you repay your EMI on or before the due date to prevent late payment charges and lower credit scores.
- If you have the option to transfer the balance to a bank that offers a lower rate of interest, opt for it.
- Take a loan quantum that you need even if you are eligible for a higher LTV.
Home Loan Products
Build your dream home with confidence. RS Credit Mantra connects you to banks offering competitive interest rates and flexible repayment options.
Features:
Up to 90% of property value financed
Tenure up to 30 years
Home purchase, construction & balance transfer options
EMI consultation and pre-payment flexibility