Benefits of a Home Purchase Loan
The benefits of opting for a home purchase loan include:
Benefits on a second house: In the case of a second house, you are entitled to claim a deduction under Section 24 of the Income Tax Act on the interest amount actually paid.
Capital Appreciation:Availing of a home purchase loan for buying a home can help you in reaping the benefits of capital appreciation in future.
Saves rent: Rather than paying rent, you would be paying an EMI for buying a home that would be your asset. Alternately, if your reason to buy a house is solely for investment or for future use, you can rent out your property in the interim and earn money, which could contribute towards your EMI.
Balance Transfer:You can transfer the balance of your home purchase loan availed from other providers to Fullerton Grihashakti to avail a competitive rate of interest and excellent service.
Home Purchase Loan Interest Rate
We offer affordable interest rates best suited to your requirement, profile and eligibility.
Documents required for Home Purchase Loan
The documents required for a home loan are basic. The requirement varies based on whether you are self-employed or salaried. The basic documents required to evaluate your eligibility for a home purchase loan include:
Type of Document |
Salaried |
Self-Employed |
Identity proof documents |
PAN Card, Voters Card, Driving License, etc. |
PAN Card, Voters Card, Driving License, etc. |
Proof of Income |
Previous 3 months’ salary slips, previous 2 years Form 16, Previous 6 months banks statement to prove that the salary is being credited |
Previous 2 years ITR computation, 6 months Bank Statements, CA audited financials wherever applicable in case of self-employed professionals. |
Residence Proof |
Aadhaar Card*, the latest electricity bill, water bill, Ration Card, etc. |
Aadhaar Card*, the latest electricity bill, water bill, Ration Card, etc. |
Documents pertaining to the property you wish to purchase will also be requested.
*Terms and conditions applicable. Loans are sanctioned at the discretion of Fullerton Grihashakti. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines
Home Purchase Loan eligibility criteria
The home loan eligibility criteria for buying both new and resale homes are extremely basic to ensure that more applicants can apply for a home loan to finance purchasing a home. It is advisable to log into our website and check your home loan eligibility and plan your loan with the help of a home loan calculator to increase the chances of your loan being approved:
Salaried |
Self-Employed |
An employee of a multinational, listed public company, government company, private companies or MSMEs as specified by us from time to time. |
Sole proprietor/businessman |
An employee of a private company, unlisted or listed company, partnership firm, etc. |
Self-employed professionals like a doctor, architect, etc. |
|
Partner in a private limited, closely-held, partnership firm or in an unlisted company |