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How to select the right bank for home loan

20 Apr, 2009 By:Unknown in Home Loan,

Owning a house of own is a dream for every person. Lots of people go for any bank loan in the case they can not afford to pay the full price of a house. Banks and other financial institutions offer home loans to people who meet the required eligibility.

Various banks offer home loan with their own terms and conditions. The interest rate, eligibility criteria, documents required, etc, all differ depending on the bank offering the loan. Many banks may be having some fine print or “conditions apply” that need to be carefully looked into. It is better to verify the facts properly before deciding to go for a loan offered by a certain bank. It may also happen that you may qualify for the loan of a certain bank only as it may differ depending on the bank.

It is advisable to do proper research before going for any loan. Ask the people who have opted for a personal loan for their views on what bank offers the best loan. Many a times it happens that you go for a loan offered by a bank and later repent about your decision.

Do proper study of the banks' eligibility criteria. You need to have certain qualifications for getting a home loan. The eligibility criteria are related to your age, income, past repayment history and the cost of the property. It also considers your work experience, number of dependents, spouse's income, stability of income and employment, assets, liabilities, etc. Banks normally lend up to 3-4 times the annual gross income as a home loan. Every bank has its own set of eligibility criteria that may differ slightly.


on 28 Jun, 2018

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Text/Call :(302) 273-5794.

on 01 Oct, 2017

I am writing this Testimony because am really grateful for what Mercedes Lucas did for me and my family, when I thought there was no hope he came and make my family feel alive again by lending us loan at a very low interest rate of 3%. Well I have been searching for a loan to settle my debts for the past three months all I met scammed and took my money until I finally met a God sent Lender. I never thought that there are still genuine loan lenders on the internet but to my greatest surprise i got my loan without wasting much time so if you are out there looking for a loan of any amount i would advise you to email via: { }and be free of internet scams. thanks... Kathie Roper from California, USA.

on 10 Mar, 2017

Olá, CarlosObrigado pela participação, pois é muito importante para direcionar novos posts.Para melhores orientações, consulte o seu médico, ok?Fico feliz com todas as participações e passarei a responder as perguntas com atualizações dos posts e pela publicação de novas matérias; não estarei respondendo diretamente as perguntas nos comentários; Assim, evitaremos respostas repetidas e estaremos mais alinhados às orientações do Grande abdo.§aÃLeonarro.

on 15 Jul, 2016

my mortgages loan chaia

on 10 Jun, 2016

mujhe sarkar ke or se kuch loan chahiye pls help loan paas karado na

on 04 Apr, 2016

i want Lon on my house and i am teacher what can i do. sir lic hfl is write solutions? please guide me

on 26 Mar, 2016

I m physically handicaped person . i do a job in Textile compny .I belong from uttar pradesh kanpur.sir i wanna take a Loan for 200000/ for Home purchase .sir Plz give me a Very good salary is 17500/pm

on 14 Mar, 2016

Dear sir,

pls help me (home loan)
I need

Thanks you

on 18 Dec, 2015

That depends on the value you place on hanvig your vote actually count. In the Greens' favour, they'll actually get into Parliament, and their social policies are solidly left. I expect their anti-science new age hippyness to be restrained by their coalition partners; the moratorium on general release will probably continue, but they won't be running GE scientists out of their labs or cutting funding from FORST. In the Alliance's favour, they're solidly left, and they need the support. Every vote for them is a message telling them to stay in the game rather than quit. Even out of Parliament, they can advocate for the left, but they need a reason to keep doing it rather than just give up and go back to their day jobs. And who knows? Maybe they'll somehow get some media coverage and manage to do a Dunne...

on 18 Dec, 2015

Good day sir/madamI am already doing Master of Public Administration coruse at the National Open University of Nigeria and would be most grateful if I am given a scholarship award. I shall be very grateful if awarded.Thank you sirItimi KalamaweiNational Open University of Nigeria(OFFICE OF THE REGISTRAR)14/16, Ahmadu Bello Way, Victoria Island, Lagos31 WORLU STREET, OFF ELIGBOLO ROAD, RUMUOKORO, PORT HARCOURTITIMI KALAMAWEI08-May-2012Name :Our Reference: ADM/11180493PROVISIONAL OFFER OF ADMISSION [2011 Session]I am pleased to inform you that you have been offered a provisional admission into theNational Open University of Nigeria to pursue a programme leading to the award ofAt the time of registration you are advised to register at:(a) the study centre (Yenagoa) specified in your application form; or(b) the study centre nearest to your place of domicile.You must produce at the time of registration the following documents:i. Originals of bank tellers obtained when you paid for the form online.ii. Original Application Pin Number collected at the Bank.iii. Originals and three (3) photocopies of all the academic certificates specified inyour application form.iv. Original and photocopy of your Birth Certificate or Sworn declaration of age.v. Three (3) recent passport size photographs.The University reserves the right to change your programme if you do not meet the criteriafor admission into the programme for which you have been admitted.The University also reserves the right to withdraw your admission whenever it is discoveredthat you have given false information to the University or falsified any results or records.You are advised to proceed for registration at the study centre indicated above and receivefurther information about your programme and the University.Congratulations.Master of Public Administration (MPA)(700 Level) in the School ofManagement Sciences.___________________________J. O. Akinyemi (Mrs)Registrar

on 26 Oct, 2015

Hi Aditya,

When you apply for a loan there is a 60 - 40 ratio taken into consideration basis of your salary.

Generally, the repayment schedule is worked out in a manner that allows only around 40-50 per cent of your monthly take home income to be repaid as EMI. It is thus restricted keeping the following factors in mind:

Around 20-25 per cent of your income could be deducted by way of statutory deductions and for investment purposes.
Around 25-30 per cent of your income is generally spent to meet your monthly expenses.
This leaves back around 40-50 per cent, which is taken as your repayment capacity for your loan.

on 07 Jul, 2015


I am planing for home loan. how much loan can a bank offer for purchasing a home? How much % of loan could be offered for a salarised employee?

on 15 Apr, 2015

How to write a letter to bank to stop EMI through ECS ..

on 15 Apr, 2015

I have salaried account in TMB bank Sivakasi branch.
I have sanctioned with Housing loan at SBI Trichy.
Where do I get ECS?. SBI told me that I should get ECS from TMB trichy main branch, but TMB trichy tell me they won't. What I have to do?

on 16 Jan, 2015

any body tell me about the eduction loan return process in bank of baroda(bob).

i am a passout 2014 bach. and i withdraw 3.60 lac rup in 4 yr(90 thousand per yr). from 18sept 2010 to 9 august 2013.

but i dont have got a job.....
so i want to know ,how much the time to pay the education loan.

plz guys suggest me i am very upsat this time so plz send me information in my mail id-

on 11 Dec, 2014


on 03 Dec, 2014

I am a Bpo employee of tcs kolkata. my monthly income is around 25,000. Can i get a home loan of 20 lacs

on 13 Jan, 2014

I am retired Punjab & Sind Bank Officer. Wish to avail housing loan for Rs.10.00 lac. Currently I am getting pension of Rs.25000/-.Please let me know the eligibility criteria for avail of housing loan for retired PSU officer.

on 15 Jan, 2013


This is rajeev

good information
i follow all these steps



on 11 Dec, 2012

Nothing concrete....

on 27 May, 2011

ya...really good information...
one should always follow all these steps before planning to get a home loan..

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