<h2><strong>20 Lakh Home Loan EMI Interest Rate 2021</strong></h2><p>Does arranging Rs. 20 lakh for your dream home appear insurmountable? Don’t worry! A Rs. 20 lakh home loan from leading financial companies can help you bridge this gap. What is the EMI for Rs. 20 lakhs home loan? Let’s use a Rs. 20 lakhs home<strong> </strong>loan EMI calculator to find out the Rs. 20 lakh home loan EMI for different loan tenures.</p><h2><strong>Rs. 20 Lakh Home Loan EMI Details</strong></h2><p>A home loan allows the borrower to borrow a lump sum amount which will be repaid in a specific loan term. The loan term can vary depending upon the repayment capacity of the borrower.&nbsp; Lending companies typically allow a maximum loan term of up to 30 years. The table below enlists the EMI details for different loan tenures for a Rs. 20 lakh home loan availed at a rate of interest of 6.80% per annum.</p><figure class="table"><table><tbody><tr><td><strong>Loan Amount</strong></td><td><strong>Rate of Interest</strong></td><td><strong>Repayment Term</strong></td><td><strong>EMI per month</strong></td></tr><tr><td>Rs. 20 lakhs</td><td>6.80% p.a.</td><td>5 Years</td><td>Rs.39,414</td></tr><tr><td>Rs. 20 lakhs</td><td>6.80% p.a.</td><td>10 Years</td><td>Rs.23,016</td></tr><tr><td>Rs. 20 lakhs</td><td>6.80% p.a.</td><td>15 Years</td><td>Rs.17,754</td></tr><tr><td>Rs. 20 lakhs</td><td>6.80% p.a.</td><td>20 Years</td><td>Rs.15,267</td></tr><tr><td>Rs. 20 lakhs</td><td>6.80% p.a.</td><td>25 Years</td><td>Rs.13,881</td></tr><tr><td>Rs. 20 lakhs</td><td>6.80% p.a.</td><td>30 Years</td><td>Rs.13,038</td></tr></tbody></table></figure><h2><strong>Rs. 20 Lakh Home Loan Interest Rates</strong></h2><p>Banks and non-banking financial companies in India offer home loans at a competitive rate of interest. The home loan interest rates are generally linked to MCLR rates fixed by the Reserve Bank of India. Listed below are the top lenders offering the most competitive rate of interest on Rs. 20 lakh home loans.</p><figure class="table"><table><tbody><tr><td><strong>Name of Bank</strong></td><td><strong>Rate of Interest</strong></td></tr><tr><td>CitiBank</td><td>Starting 6.50% p.a.&nbsp;</td></tr><tr><td>Kotak Mahindra Bank</td><td>6.65% p.a.&nbsp; - 7.20% p.a.&nbsp;</td></tr><tr><td>ICICI Bank</td><td>6.75% p.a.&nbsp; -&nbsp; 7.55% p.a.</td></tr><tr><td>HDFC Bank</td><td>6.75% p.a.&nbsp; -&nbsp; 7.65% p.a.&nbsp;</td></tr><tr><td>SBI Bank</td><td>6.80% p.a.&nbsp; - 7.5% p.a.&nbsp;</td></tr><tr><td>IDFC First Bank</td><td>6.90% p.a.&nbsp; -&nbsp; 10.5% p.a.&nbsp;</td></tr><tr><td>Yes Bank</td><td>9.60% p.a.&nbsp; - 12% p.a.&nbsp;</td></tr></tbody></table></figure><h2><strong>&nbsp;Popular Banks providing 20 Lakh Home Loan</strong></h2><p>The top financial companies approving Rs. 20 lakh home loans at the most affordable rate of interest and minimum eligibility conditions are:&nbsp;&nbsp;</p><figure class="table"><table><tbody><tr><td>CitiBank</td></tr><tr><td>SBI Bank</td></tr><tr><td>ICICI Bank &nbsp; &nbsp; &nbsp;&nbsp;</td></tr><tr><td>IDBI Bank</td></tr><tr><td>HDFC Bank</td></tr><tr><td>IDFC First Bank</td></tr><tr><td>Kotak Mahindra Bank</td></tr><tr><td>Axis Bank</td></tr><tr><td>Yes Bank</td></tr><tr><td>Bank of Baroda</td></tr><tr><td>PNB Bank</td></tr></tbody></table></figure><h2><strong>20 Lakh Home Loan EMI for 30 Years</strong></h2><p>What is the EMI for 20 lakhs home loan? Let’s find out the Rs. 20 lakh home loan EMI using the Rs. 20 lakhs home loan EMI calculator.</p><ul><li>Loan Amount – Rs. 20,00,000</li><li>Rate of Interest – 6.80% p.a.</li><li>EMI value – Rs. 13,038</li><li>Total Interest – Rs. 26,93,860</li><li>Total Repayment – Rs. 46,93,860</li></ul><figure class="table"><table><tbody><tr><td><strong>Year</strong></td><td><strong>Principal</strong></td><td><strong>Interest</strong></td><td><strong>Balance Principal</strong></td></tr><tr><td>1</td><td>Rs. 21,119</td><td>Rs. 135,349</td><td>Rs. 1,978,881</td></tr><tr><td>2</td><td>Rs. 22,600</td><td>Rs. 133,868</td><td>Rs. 1,956,281</td></tr><tr><td>3</td><td>Rs. 24,185</td><td>Rs. 132,283</td><td>Rs. 1,932,096</td></tr><tr><td>4</td><td>Rs. 25,882</td><td>Rs. 130,586</td><td>Rs. 1,906,214</td></tr><tr><td>5</td><td>Rs. 27,698</td><td>Rs. 128,770</td><td>Rs. 1,878,516</td></tr><tr><td>6</td><td>Rs. 29,643</td><td>Rs. 126,825</td><td>Rs. 1,848,873</td></tr><tr><td>7</td><td>Rs. 31,721</td><td>Rs. 124,747</td><td>Rs. 1,817,152</td></tr><tr><td>8</td><td>Rs. 33,946</td><td>Rs. 122,522</td><td>Rs. 1,783,206</td></tr><tr><td>9</td><td>Rs. 36,328</td><td>Rs. 120,140</td><td>Rs. 1,746,878</td></tr><tr><td>10</td><td>Rs. 38,878</td><td>Rs. 117,590</td><td>Rs. 1,708,000</td></tr><tr><td>11</td><td>Rs. 41,606</td><td>Rs. 114,862</td><td>Rs. 1,666,394</td></tr><tr><td>12</td><td>Rs. 44,523</td><td>Rs. 111,945</td><td>Rs. 1,621,871</td></tr><tr><td>13</td><td>Rs. 47,646</td><td>Rs. 108,822</td><td>Rs. 1,574,225</td></tr><tr><td>14</td><td>Rs. 50,991</td><td>Rs. 105,477</td><td>Rs. 1,523,234</td></tr><tr><td>15</td><td>Rs. 54,567</td><td>Rs. 101,901</td><td>Rs. 1,468,667</td></tr><tr><td>16</td><td>Rs. 58,397</td><td>Rs. 98,071</td><td>Rs. 1,410,270</td></tr><tr><td>17</td><td>Rs. 62,494</td><td>Rs. 93,974</td><td>Rs. 1,347,776</td></tr><tr><td>18</td><td>Rs. 66,878</td><td>Rs. 89,590</td><td>Rs. 1,280,898</td></tr><tr><td>19</td><td>Rs. 71,570</td><td>Rs. 84,898</td><td>Rs. 1,209,328</td></tr><tr><td>20</td><td>Rs. 76,591</td><td>Rs. 79,877</td><td>Rs. 1,132,737</td></tr><tr><td>21</td><td>Rs. 81,964</td><td>Rs. 74,504</td><td>Rs. 1,050,773</td></tr><tr><td>22</td><td>Rs. 87,716</td><td>Rs. 68,752</td><td>Rs. 963,057</td></tr><tr><td>23</td><td>Rs. 93,870</td><td>Rs. 62,598</td><td>Rs. 869,187</td></tr><tr><td>24</td><td>Rs. 100,456</td><td>Rs. 56,012</td><td>Rs. 768,731</td></tr><tr><td>25</td><td>Rs. 107,504</td><td>Rs. 48,964</td><td>Rs. 661,227</td></tr><tr><td>26</td><td>Rs. 115,046</td><td>Rs. 41,422</td><td>Rs. 546,181</td></tr><tr><td>27</td><td>Rs. 123,118</td><td>Rs. 33,350</td><td>Rs. 423,063</td></tr><tr><td>28</td><td>Rs. 131,758</td><td>Rs. 24,710</td><td>Rs. 291,305</td></tr><tr><td>29</td><td>Rs. 141,001</td><td>Rs. 15,467</td><td>Rs. 150,304</td></tr><tr><td>30</td><td>Rs. 150,374</td><td>Rs. 5,574</td><td>Rs. 0</td></tr></tbody></table></figure><h2><strong>20 Lakh Home Loan EMI for 25 Years</strong></h2><p>What is the EMI for 20 lakhs home loan? Let’s find out the Rs. 20 lakh home loan EMI using the Rs. 20 lakhs home loan EMI calculator for a loan term of 25 years are as follows:</p><ul><li>Loan Amount – Rs. 20,00,000</li><li>Rate of Interest – 6.80% p.a.</li><li>EMI value – Rs. 13,881</li><li>Total Interest – Rs. 21,64,432</li><li>Total Repayment – Rs. 41,64,432</li></ul><figure class="table"><table><tbody><tr><td><strong>Year</strong></td><td><strong>Principal</strong></td><td><strong>Interest</strong></td><td><strong>Balance Principal</strong></td></tr><tr><td>1</td><td>Rs. 31,544</td><td>Rs. 135,028</td><td>Rs. 1,968,456</td></tr><tr><td>2</td><td>Rs. 33,755</td><td>Rs. 132,817</td><td>Rs. 1,934,701</td></tr><tr><td>3</td><td>Rs. 36,124</td><td>Rs. 130,448</td><td>Rs. 1,898,577</td></tr><tr><td>4</td><td>Rs. 38,659</td><td>Rs. 127,913</td><td>Rs. 1,859,918</td></tr><tr><td>5</td><td>Rs. 41,371</td><td>Rs. 125,201</td><td>Rs. 1,818,547</td></tr><tr><td>6</td><td>Rs. 44,273</td><td>Rs. 122,299</td><td>Rs. 1,774,274</td></tr><tr><td>7</td><td>Rs. 47,378</td><td>Rs. 119,194</td><td>Rs. 1,726,896</td></tr><tr><td>8</td><td>Rs. 50,703</td><td>Rs. 115,869</td><td>Rs. 1,676,193</td></tr><tr><td>9</td><td>Rs. 54,260</td><td>Rs. 112,312</td><td>Rs. 1,621,933</td></tr><tr><td>10</td><td>Rs. 58,068</td><td>Rs. 108,504</td><td>Rs. 1,563,865</td></tr><tr><td>11</td><td>Rs. 62,143</td><td>Rs. 104,429</td><td>Rs. 1,501,722</td></tr><tr><td>12</td><td>Rs. 66,501</td><td>Rs. 100,071</td><td>Rs. 1,435,221</td></tr><tr><td>13</td><td>Rs. 71,167</td><td>Rs. 95,405</td><td>Rs. 1,364,054</td></tr><tr><td>14</td><td>Rs. 76,161</td><td>Rs. 90,411</td><td>Rs. 1,287,893</td></tr><tr><td>15</td><td>Rs. 81,504</td><td>Rs. 85,068</td><td>Rs. 1,206,389</td></tr><tr><td>16</td><td>Rs. 87,224</td><td>Rs. 79,348</td><td>Rs. 1,119,165</td></tr><tr><td>17</td><td>Rs. 93,342</td><td>Rs. 73,230</td><td>Rs. 1,025,823</td></tr><tr><td>18</td><td>Rs. 99,891</td><td>Rs. 66,681</td><td>Rs. 925,932</td></tr><tr><td>19</td><td>Rs. 106,898</td><td>Rs. 59,674</td><td>Rs. 819,034</td></tr><tr><td>20</td><td>Rs. 114,400</td><td>Rs. 52,172</td><td>Rs. 704,634</td></tr><tr><td>21</td><td>Rs. 122,424</td><td>Rs. 44,148</td><td>Rs. 582,210</td></tr><tr><td>22</td><td>Rs. 131,016</td><td>Rs. 35,556</td><td>Rs. 451,194</td></tr><tr><td>23</td><td>Rs. 140,207</td><td>Rs. 26,365</td><td>Rs. 310,987</td></tr><tr><td>24</td><td>Rs. 150,044</td><td>Rs. 16,528</td><td>Rs. 160,943</td></tr><tr><td>25</td><td>Rs. 161,023</td><td>Rs. 6,001</td><td>Rs. 0</td></tr></tbody></table></figure><h2><strong>20 Lakh Home Loan EMI for 20 Years</strong></h2><p>What is the EMI for 20 lakhs home loan? Let’s find out the Rs. 20 lakh home loan EMI<strong> </strong>using the Rs. 20 lakhs home loan EMI<strong> </strong>calculator for a loan term of 20 years are as follows:</p><ul><li>&nbsp;Loan Amount – Rs. 20,00,000</li><li>Rate of Interest – 6.80% p.a.</li><li>&nbsp;EMI value – Rs. 15,267</li><li>Total Interest – Rs. 16,64,030</li><li>Total Repayment – Rs. 36,64,030</li></ul><figure class="table"><table><tbody><tr><td><strong>Year</strong></td><td><strong>Principal</strong></td><td><strong>Interest</strong></td><td><strong>Balance Principal</strong></td></tr><tr><td>1</td><td>Rs. 48,703</td><td>Rs. 134,501</td><td>Rs. 1,951,297</td></tr><tr><td>2</td><td>Rs. 52,121</td><td>Rs. 131,083</td><td>Rs. 1,899,176</td></tr><tr><td>3</td><td>Rs. 55,777</td><td>Rs. 127,427</td><td>Rs. 1,843,399</td></tr><tr><td>4</td><td>Rs. 59,689</td><td>Rs. 123,515</td><td>Rs. 1,783,710</td></tr><tr><td>5</td><td>Rs. 63,877</td><td>Rs. 119,327</td><td>Rs. 1,719,833</td></tr><tr><td>6</td><td>Rs. 68,359</td><td>Rs. 114,845</td><td>Rs. 1,651,474</td></tr><tr><td>7</td><td>Rs. 73,157</td><td>Rs. 110,047</td><td>Rs. 1,578,317</td></tr><tr><td>8</td><td>Rs. 78,288</td><td>Rs. 104,916</td><td>Rs. 1,500,029</td></tr><tr><td>9</td><td>Rs. 83,783</td><td>Rs. 99,421</td><td>Rs. 1,416,246</td></tr><tr><td>10</td><td>Rs. 89,659</td><td>Rs. 93,545</td><td>Rs. 1,326,587</td></tr><tr><td>11</td><td>Rs. 95,951</td><td>Rs. 87,253</td><td>Rs. 1,230,636</td></tr><tr><td>12</td><td>Rs. 102,681</td><td>Rs. 80,523</td><td>Rs. 1,127,955</td></tr><tr><td>13</td><td>Rs. 109,885</td><td>Rs. 73,319</td><td>Rs. 1,018,070</td></tr><tr><td>14</td><td>Rs. 117,594</td><td>Rs. 65,610</td><td>Rs. 900,476</td></tr><tr><td>15</td><td>Rs. 125,846</td><td>Rs. 57,358</td><td>Rs. 774,630</td></tr><tr><td>16</td><td>Rs. 134,674</td><td>Rs. 48,530</td><td>Rs. 639,956</td></tr><tr><td>17</td><td>Rs. 144,125</td><td>Rs. 39,079</td><td>Rs. 495,831</td></tr><tr><td>18</td><td>Rs. 154,234</td><td>Rs. 28,970</td><td>Rs. 341,597</td></tr><tr><td>19</td><td>Rs. 165,056</td><td>Rs. 18,148</td><td>Rs. 176,541</td></tr><tr><td>20</td><td>Rs. 176,626</td><td>Rs. 6,566</td><td>Rs. 0</td></tr></tbody></table></figure><h2><strong>Eligibility Criteria</strong></h2><p>&nbsp;Lending companies have set eligibility criteria. The borrower must meet the eligibility conditions to get the home loan approved. Though the eligibility conditions vary from lender to lender, the general guidelines are:</p><figure class="table"><table><tbody><tr><td><strong>Eligibility Head</strong></td><td colspan="2"><strong>Eligibility Criteria</strong></td></tr><tr><td>Age</td><td colspan="2"><p>The home loan borrower must be at least 21 years old.</p><p>The maximum age of the borrower is 65 years.&nbsp;&nbsp;</p><p>The number of years for which the home loan is approved cannot be more than the total number of years left until retirement.</p></td></tr><tr><td>Job Profile</td><td colspan="2">The home loan applicant can be a salaried individual, self-employed professional or self-employed non-professional.</td></tr><tr><td>Income</td><td colspan="2">The home loan applicant must have a steady income. Different lending institutions have different minimum income requirements to be eligible for the home loan.</td></tr><tr><td>Work Experience</td><td><p>The salaried individual must have a work experience of at least 2 years of which at least one year must be with the current employer.</p><p>&nbsp;</p></td><td><p>Self-employed individuals (both professional and non-professionals) must be in the same business for at least 3 years.</p><p>At least last 2 years should be profitable.</p></td></tr><tr><td>Residential Status</td><td colspan="2">Both Indian citizens and Non-Resident Indians are eligible for a home loan.</td></tr><tr><td>Credit Score</td><td colspan="2">The home loan borrower must have a good credit score. Lending institutions prefer a credit score of 650 points or above.</td></tr><tr><td>Debt-Income Ratio</td><td colspan="2">The Debt-Income ratio of the applicant must be less than 50%. The lower the Debt-Income ratio, the better.</td></tr></tbody></table></figure><h2><strong>Documents Required</strong></h2><p>A home loan application is supported by several documents. The home loan is approved only after the attached documents are successfully verified. These documents include:</p><figure class="table"><table><tbody><tr><td><strong>Age Proof (Any One)</strong></td><td><strong>Identity Proof (Any One)</strong></td><td><strong>Address Proof (Any One)</strong></td><td><strong>Income Proof (All)</strong></td></tr><tr><td rowspan="2"><p>Passport</p><p>Driving License</p><p>Life Insurance Policy</p><p>School Leaving Certificate</p><p>PAN Card</p><p>Birth Certificate</p><p>&nbsp;</p></td><td rowspan="2"><p>Passport</p><p>Driving License</p><p>PAN Card</p><p>Voter ID</p></td><td rowspan="2"><p>Utility Bill</p><p>Bank Account Statements</p><p>Property Tax Receipt</p><p>Voter ID</p><p>Property Registration Documents</p><p>&nbsp;</p></td><td><p><strong>Salaried</strong></p><p>3 months salary slips</p><p>Appointment letter</p><p>Increment letter</p><p>Last Form No. 16</p><p>Bank account statement of the salary account</p><p>Processing fee cheque issued from the salary account</p></td></tr><tr><td><p><strong>Self-Employed</strong></p><p>2 years IT returns</p><p>Business profile on letterhead</p><p>Business registration certificate</p><p>Last 6 month operative current account bank account statement Processing fee cheque issued from the business account</p></td></tr></tbody></table></figure><h3><strong>FAQs</strong></h3><h4><strong>✅ What is the EMI for 20 lakhs home loan for 20 years?</strong></h4><p>Rs. 20 lakh home loan EMI<strong> </strong>for 20 years @ rate of interest 6.80% p.a. is Rs. 15,267.</p><h4><strong>✅</strong> What is Rs. 20 lakh home loan EMI for 30 years from Kotak Mahindra Bank?</h4><p>Kotak Mahindra Bank offers home loans at a rate of interest starting at 6.65% p.a. The Rs. 20 lakh home loan EMI<strong> </strong>for 30 years from Kotak Mahindra Bank is Rs. 12,840.</p><h4><strong>✅ What will be the Rs. 20 lakh home loan EMI for 10 years?</strong></h4><p>Rs. 20 lakh home loan EMI for 10 years @ rate of interest 6.80% p.a. is Rs.23,016.</p><h4><strong>✅ What is the EMI for 20 lakhs home loan for 30 years from IDFC First Bank?</strong></h4><p>IDFC First Bank offers home loans at a rate of interest starting at 6.90% p.a. The Rs. 20 lakh home loan EMI for 30 years from IDFC First Bank is Rs.13,172.</p><h4><strong>✅Which bank has the lowest Rs.20 lakh home loan EMI for 30 years?</strong></h4><p>Citibank offers the lowest home loan interest rates starting at 6.50% p.a. Its <strong>Rs.20 lakh home loan EMI</strong> for 30 years is Rs. 12,641.</p>

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Does arranging Rs. 20 lakh for your dream home appear insurmountable? Don’t worry! A Rs. 20 lakh home loan from leading financial companies can help you bridge this gap. What is the EMI for Rs. 20 lakhs home loan? 

20 Lakh Home Loan EMI Interest Rates 2021

<p>Director - MyMoneyMantra Fintech&nbsp;</p>

Aparna Sharma

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<p>Does arranging Rs. 20 lakh for your dream home appear insurmountable? Don’t worry! A Rs. 20 lakh home loan from leading financial companies can help you bridge this gap. What is the EMI for Rs. 20 lakhs home loan?&nbsp;</p>

<h1><strong>50 Lakh Home Loan EMI Interest Rate 2021</strong></h1><p>Owning a big house requires substantial funds. Thankfully these funds can be easily arranged through a home loan. If you too want to live this dream and want to know what is the EMI for 50 lakhs home loan, let’s find it out with the help of a 50 lakh home loan EMI calculator.</p><h2><strong>50 Lakh Home Loan EMI Details</strong></h2><p>&nbsp;The home loan principal amount is received in a lump sum. The proceeds are to be repaid in the decided loan tenure. The amount to be repaid every month will be Rs. 50 lakh home loan EMI. The same is calculated using Rs. 50 lakh home loan EMI<strong> </strong>calculator. The ideal EMI is according to the repayment capacity of the borrower.&nbsp; To increase or decrease the EMI amount, adjustments in the loan term are made while using the Rs. 50 lakh home loan EMI calculator. Most lending companies have a maximum loan term of up to 30 years.</p><p>The table below shows the EMI details for different loan tenures for Rs. 50 lakh home loan. The rate of interest is @ 6.80% per annum.</p><figure class="table"><table><tbody><tr><td><strong>Loan Amount</strong></td><td><strong>Rate of Interest</strong></td><td><strong>Repayment Term</strong></td><td><strong>EMI per month</strong></td></tr><tr><td>Rs. 50 lakhs</td><td>6.80% p.a.</td><td>10 Years</td><td>Rs. 57,540</td></tr><tr><td>Rs. 50 lakhs</td><td>6.80% p.a.</td><td>15 Years</td><td>Rs. 44,384</td></tr><tr><td>Rs. 50 lakhs</td><td>6.80% p.a.</td><td>20 Years</td><td>Rs.38,167</td></tr><tr><td>Rs. 50 lakhs</td><td>6.80% p.a.</td><td>25 Years</td><td>Rs.34,704</td></tr><tr><td>Rs. 50 lakhs</td><td>6.80% p.a.</td><td>30 Years</td><td>Rs.32,596</td></tr></tbody></table></figure><h2><strong>50 Lakh Home Loan Interest Rates</strong></h2><p>The interest rates on home loans are linked to the lending rate fixed by the Reserve Bank of India. While some banks and non-banking financial companies in India approve home loans at MCLR rates, others add a certain percentage to determine their lending rate. Listed below are the leading banks that offer the most competitive rate of interest on Rs. 50 lakh home loans in India.</p><figure class="table"><table><tbody><tr><td><strong>Bank Name</strong></td><td><strong>Interest Rate</strong></td></tr><tr><td>Citibank</td><td>Starting 6.50% p.a.&nbsp;</td></tr><tr><td>Kotak Mahindra Bank</td><td>6.65% p.a.&nbsp; - 7.20% p.a.&nbsp;</td></tr><tr><td>Union Bank of India</td><td>6.70% - 7.10% p.a.</td></tr><tr><td>HDFC Ltd</td><td>6.75% - 7.15% p.a.</td></tr><tr><td>ICICI Bank</td><td>6.75% - 7.55% p.a.</td></tr><tr><td>State Bank Of India</td><td>6.80% - 7.15% p.a.</td></tr><tr><td>Bank of India</td><td>6.85% - 7.75% p.a.</td></tr><tr><td>Bank of Baroda</td><td>6.85% - 7.85% p.a.</td></tr><tr><td>AXIS Bank</td><td>6.90% - 8.40% p.a.</td></tr><tr><td>Canara Bank</td><td>6.90% - 8.90% p.a.</td></tr><tr><td>PNB Home Loan</td><td>7.00% - 7.60% p.a.</td></tr></tbody></table></figure><h2><strong>Popular Banks Providing 50 Lakh Home Loan</strong></h2><p>Top lenders offering Rs. 50 lakh home loan in India are:</p><figure class="table"><table><tbody><tr><td><strong>Bank Name</strong></td></tr><tr><td>Citibank</td></tr><tr><td>Kotak Mahindra Bank</td></tr><tr><td>Corporation Bank</td></tr><tr><td>Union Bank of India</td></tr><tr><td>HDFC Ltd</td></tr><tr><td>ICICI Bank</td></tr><tr><td>State Bank Of India</td></tr><tr><td>Bank of India</td></tr><tr><td>Bank of Baroda</td></tr><tr><td>AXIS Bank</td></tr><tr><td>Canara Bank</td></tr><tr><td>PNB Home Loan</td></tr></tbody></table></figure><h2><strong>50 Lakh Home Loan EMI for 30 Years</strong></h2><p>What is the EMI for 50 lakhs home loan? We can find out the Rs. 50 lakh home loan EMI<strong> </strong>with the help of Rs. 50 lakhs home loan EMI calculator.</p><ul><li>Loan Amount – Rs. 50,00,000</li><li>Rate of Interest – 6.80% p.a.</li><li>EMI value – Rs. 32,596</li><li>Total Interest – Rs. 67,34,653</li><li>Total Repayment – Rs. 1,17,34,653</li></ul><figure class="table"><table><tbody><tr><td><strong>Year</strong></td><td><strong>Principal</strong></td><td><strong>Interest</strong></td><td><strong>Balance Principal</strong></td></tr><tr><td>1</td><td>Rs. 52,778</td><td>Rs. 338,374</td><td>Rs. 4,947,222</td></tr><tr><td>2</td><td>Rs. 56,481</td><td>Rs. 334,671</td><td>Rs. 4,890,741</td></tr><tr><td>3</td><td>Rs. 60,442</td><td>Rs. 330,710</td><td>Rs. 4,830,299</td></tr><tr><td>4</td><td>Rs. 64,683</td><td>Rs. 326,469</td><td>Rs. 4,765,616</td></tr><tr><td>5</td><td>Rs. 69,221</td><td>Rs. 321,931</td><td>Rs. 4,696,395</td></tr><tr><td>6</td><td>Rs. 74,077</td><td>Rs. 317,075</td><td>Rs. 4,622,318</td></tr><tr><td>7</td><td>Rs. 79,274</td><td>Rs. 311,878</td><td>Rs. 4,543,044</td></tr><tr><td>8</td><td>Rs. 84,837</td><td>Rs. 306,315</td><td>Rs. 4,458,207</td></tr><tr><td>9</td><td>Rs. 90,788</td><td>Rs. 300,364</td><td>Rs. 4,367,419</td></tr><tr><td>10</td><td>Rs. 97,158</td><td>Rs. 293,994</td><td>Rs. 4,270,261</td></tr><tr><td>11</td><td>Rs. 103,974</td><td>Rs. 287,178</td><td>Rs. 4,166,287</td></tr><tr><td>12</td><td>Rs. 111,270</td><td>Rs. 279,882</td><td>Rs. 4,055,017</td></tr><tr><td>13</td><td>Rs. 119,076</td><td>Rs. 272,076</td><td>Rs. 3,935,941</td></tr><tr><td>14</td><td>Rs. 127,430</td><td>Rs. 263,722</td><td>Rs. 3,808,511</td></tr><tr><td>15</td><td>Rs. 136,372</td><td>Rs. 254,780</td><td>Rs. 3,672,139</td></tr><tr><td>16</td><td>Rs. 145,939</td><td>Rs. 245,213</td><td>Rs. 3,526,200</td></tr><tr><td>17</td><td>Rs. 156,180</td><td>Rs. 234,972</td><td>Rs. 3,370,020</td></tr><tr><td>18</td><td>Rs. 167,136</td><td>Rs. 224,016</td><td>Rs. 3,202,884</td></tr><tr><td>19</td><td>Rs. 178,862</td><td>Rs. 212,290</td><td>Rs. 3,024,022</td></tr><tr><td>20</td><td>Rs. 191,411</td><td>Rs. 199,741</td><td>Rs. 2,832,611</td></tr><tr><td>21</td><td>Rs. 204,842</td><td>Rs. 186,310</td><td>Rs. 2,627,769</td></tr><tr><td>22</td><td>Rs. 219,214</td><td>Rs. 171,938</td><td>Rs. 2,408,555</td></tr><tr><td>23</td><td>Rs. 234,593</td><td>Rs. 156,559</td><td>Rs. 2,173,962</td></tr><tr><td>24</td><td>Rs. 251,052</td><td>Rs. 140,100</td><td>Rs. 1,922,910</td></tr><tr><td>25</td><td>Rs. 268,665</td><td>Rs. 122,487</td><td>Rs. 1,654,245</td></tr><tr><td>26</td><td>Rs. 287,515</td><td>Rs. 103,637</td><td>Rs. 1,366,730</td></tr><tr><td>27</td><td>Rs. 307,686</td><td>Rs. 83,466</td><td>Rs. 1,059,044</td></tr><tr><td>28</td><td>Rs. 329,274</td><td>Rs. 61,878</td><td>Rs. 729,770</td></tr><tr><td>29</td><td>Rs. 352,375</td><td>Rs. 38,777</td><td>Rs. 377,395</td></tr><tr><td>30</td><td>Rs. 377,580</td><td>Rs. 14,054</td><td>Rs. 0</td></tr></tbody></table></figure><h2><strong>50 Lakh Home Loan EMI for 25 Years</strong></h2><p>What is the EMI for 50 lakhs home loan? We can find out the Rs. 50 lakh home loan EMI for 25 years with the help of Rs. 50 lakhs home loan EMI calculator.</p><ul><li>Loan Amount – Rs. 50,00,000</li><li>Rate of Interest – 6.80% p.a.</li><li>EMI value – Rs. 34,704</li><li>Total Interest – Rs. 54,11,802</li><li>Total Repayment – Rs. 1,04,11,802</li></ul><figure class="table"><table><tbody><tr><td><strong>Year</strong></td><td><strong>Principal</strong></td><td><strong>Interest</strong></td><td><strong>Balance Principal</strong></td></tr><tr><td>1</td><td>Rs. 78,876</td><td>Rs. 337,572</td><td>Rs. 4,921,124</td></tr><tr><td>2</td><td>Rs. 84,410</td><td>Rs. 332,038</td><td>Rs. 4,836,714</td></tr><tr><td>3</td><td>Rs. 90,333</td><td>Rs. 326,115</td><td>Rs. 4,746,381</td></tr><tr><td>4</td><td>Rs. 96,671</td><td>Rs. 319,777</td><td>Rs. 4,649,710</td></tr><tr><td>5</td><td>Rs. 103,455</td><td>Rs. 312,993</td><td>Rs. 4,546,255</td></tr><tr><td>6</td><td>Rs. 110,711</td><td>Rs. 305,737</td><td>Rs. 4,435,544</td></tr><tr><td>7</td><td>Rs. 118,477</td><td>Rs. 297,971</td><td>Rs. 4,317,067</td></tr><tr><td>8</td><td>Rs. 126,792</td><td>Rs. 289,656</td><td>Rs. 4,190,275</td></tr><tr><td>9</td><td>Rs. 135,686</td><td>Rs. 280,762</td><td>Rs. 4,054,589</td></tr><tr><td>10</td><td>Rs. 145,204</td><td>Rs. 271,244</td><td>Rs. 3,909,385</td></tr><tr><td>11</td><td>Rs. 155,393</td><td>Rs. 261,055</td><td>Rs. 3,753,992</td></tr><tr><td>12</td><td>Rs. 166,294</td><td>Rs. 250,154</td><td>Rs. 3,587,698</td></tr><tr><td>13</td><td>Rs. 177,962</td><td>Rs. 238,486</td><td>Rs. 3,409,736</td></tr><tr><td>14</td><td>Rs. 190,449</td><td>Rs. 225,999</td><td>Rs. 3,219,287</td></tr><tr><td>15</td><td>Rs. 203,811</td><td>Rs. 212,637</td><td>Rs. 3,015,476</td></tr><tr><td>16</td><td>Rs. 218,109</td><td>Rs. 198,339</td><td>Rs. 2,797,367</td></tr><tr><td>17</td><td>Rs. 233,412</td><td>Rs. 183,036</td><td>Rs. 2,563,955</td></tr><tr><td>18</td><td>Rs. 249,789</td><td>Rs. 166,659</td><td>Rs. 2,314,166</td></tr><tr><td>19</td><td>Rs. 267,316</td><td>Rs. 149,132</td><td>Rs. 2,046,850</td></tr><tr><td>20</td><td>Rs. 286,068</td><td>Rs. 130,380</td><td>Rs. 1,760,782</td></tr><tr><td>21</td><td>Rs. 306,139</td><td>Rs. 110,309</td><td>Rs. 1,454,643</td></tr><tr><td>22</td><td>Rs. 327,619</td><td>Rs. 88,829</td><td>Rs. 1,127,024</td></tr><tr><td>23</td><td>Rs. 350,605</td><td>Rs. 65,843</td><td>Rs. 776,419</td></tr><tr><td>24</td><td>Rs. 375,202</td><td>Rs. 41,246</td><td>Rs. 401,217</td></tr><tr><td>25</td><td>Rs. 401,411</td><td>Rs. 14,922</td><td>Rs. 0</td></tr></tbody></table></figure><h2><strong>50 Lakh Home Loan EMI for 20 Years</strong></h2><p>What is the EMI for 50 lakhs home loan? We can find out the Rs.<strong> </strong>50 lakh home loan EMI for 20 years with the help of Rs. 50 lakhs home loan EMI calculator.</p><ul><li>Loan Amount – Rs. 50,00,000</li><li>Rate of Interest – 6.80% p.a.</li><li>EMI value – Rs. 38,167</li><li>Total Interest – Rs. 41,60,074</li><li>Total Repayment – Rs. 91,60,074</li></ul><figure class="table"><table><tbody><tr><td><strong>Year</strong></td><td><strong>Principal</strong></td><td><strong>Interest</strong></td><td><strong>Balance Principal</strong></td></tr><tr><td>1</td><td>Rs. 121,750</td><td>Rs. 336,254</td><td>Rs. 4,878,250</td></tr><tr><td>2</td><td>Rs. 130,293</td><td>Rs. 327,711</td><td>Rs. 4,747,957</td></tr><tr><td>3</td><td>Rs. 139,435</td><td>Rs. 318,569</td><td>Rs. 4,608,522</td></tr><tr><td>4</td><td>Rs. 149,218</td><td>Rs. 308,786</td><td>Rs. 4,459,304</td></tr><tr><td>5</td><td>Rs. 159,686</td><td>Rs. 298,318</td><td>Rs. 4,299,618</td></tr><tr><td>6</td><td>Rs. 170,890</td><td>Rs. 287,114</td><td>Rs. 4,128,728</td></tr><tr><td>7</td><td>Rs. 182,881</td><td>Rs. 275,123</td><td>Rs. 3,945,847</td></tr><tr><td>8</td><td>Rs. 195,711</td><td>Rs. 262,293</td><td>Rs. 3,750,136</td></tr><tr><td>9</td><td>Rs. 209,442</td><td>Rs. 248,562</td><td>Rs. 3,540,694</td></tr><tr><td>10</td><td>Rs. 224,137</td><td>Rs. 233,867</td><td>Rs. 3,316,557</td></tr><tr><td>11</td><td>Rs. 239,861</td><td>Rs. 218,143</td><td>Rs. 3,076,696</td></tr><tr><td>12</td><td>Rs. 256,690</td><td>Rs. 201,314</td><td>Rs. 2,820,006</td></tr><tr><td>13</td><td>Rs. 274,700</td><td>Rs. 183,304</td><td>Rs. 2,545,306</td></tr><tr><td>14</td><td>Rs. 293,973</td><td>Rs. 164,031</td><td>Rs. 2,251,333</td></tr><tr><td>15</td><td>Rs. 314,598</td><td>Rs. 143,406</td><td>Rs. 1,936,735</td></tr><tr><td>16</td><td>Rs. 336,670</td><td>Rs. 121,334</td><td>Rs. 1,600,065</td></tr><tr><td>17</td><td>Rs. 360,291</td><td>Rs. 97,713</td><td>Rs. 1,239,774</td></tr><tr><td>18</td><td>Rs. 385,571</td><td>Rs. 72,433</td><td>Rs. 854,203</td></tr><tr><td>19</td><td>Rs. 412,621</td><td>Rs. 45,383</td><td>Rs. 441,582</td></tr><tr><td>20</td><td>Rs. 441,797</td><td>Rs. 16,433</td><td>Rs. 0</td></tr></tbody></table></figure><h2><strong>Eligibility Criteria</strong></h2><p>To get a home loan approved it is important that the borrower meets the lending company’s eligibility criteria. Though the eligibility conditions vary from one lender to another, the broad eligibility conditions are as under:</p><figure class="table"><table><tbody><tr><td><strong>Eligibility Head</strong></td><td><strong>Eligibility Criteria</strong></td></tr><tr><td>Age</td><td><p>The minimum age of a home loan borrower is 21 years and the maximum age of the borrower should not be more than 65 years.&nbsp;</p><p>The home loan term cannot be more than the number of years remaining until retirement.</p></td></tr><tr><td>Work Profile</td><td>The home loan applicant can either be a salaried individual, a self-employed professional, or a self-employed non-professional.</td></tr><tr><td>Income</td><td>The home loan borrower must have a regular and steady income. The minimum income clause varies from lender to lender.</td></tr><tr><td>Work Experience</td><td><p>The home loan applicant must have relevant work experience.&nbsp;</p><p>For salaried individuals at least 2 years work experience of which at least last one year must be with the current employer.&nbsp;</p><p>For self-employed individuals at least 3 years in the same business of which at least 2 years should reflect profit.</p></td></tr><tr><td>Residential Status</td><td>The home loan applicant can be either an Indian citizen or a Non-Resident Indian.</td></tr><tr><td>Credit Score</td><td>A good credit score is a must for home loan approval. A credit score of 650 points or above is preferred.</td></tr><tr><td>Debt-Income Ratio</td><td>The home loan applicant must maintain a Debt-Income ratio lower than 50%. The lower the Debt-Income ratio, the better it is.</td></tr></tbody></table></figure><h2><strong>Documents Required</strong></h2><p>Documents submission and verification is mandatory for a home loan approval. The home loan applicant must submit the following documents along with the home loan application. These are:</p><figure class="table"><table><tbody><tr><td>Age Proof (Any One)</td><td><p>Passport / Driving License / Life Insurance Policy / School Leaving Certificate / PAN Card / Birth Certificate</p><p>&nbsp;</p></td></tr><tr><td>Identity Proof (Any One)</td><td>Passport / Driving License / PAN Card / Voter ID</td></tr><tr><td>Address Proof (Any One)</td><td><p>Utility Bill / Bank Account Statements/ Property Tax Receipt / Voter ID/ Property Registration Documents</p><p>&nbsp;</p></td></tr><tr><td>Income Proof (All)</td><td><p><strong>Salaried</strong></p><ul><li>3 months salary slips</li><li>Appointment letter</li><li>&nbsp;Increment letter</li><li>Last Form No. 16</li><li>Bank account statement of the salary account</li><li>Processing fee cheque issued from the salary account</li></ul><p>&nbsp;<strong>Self-Employed (Professional and Non-Professional)</strong></p><ul><li>&nbsp;2 years IT returns</li><li>Business profile on letterhead</li><li>Business registration certificate</li><li>Last 6 months operative current account bank account statement Processing fee cheque issued from the business account</li></ul></td></tr></tbody></table></figure><h3><strong>FAQs</strong></h3><h4><strong>✅</strong>&nbsp;<strong>What is the EMI for a 50 lakh home loan for 20 years?</strong></h4><p>Rs. 50 lakh home loan EMI for 20 years @ rate of interest 6.80% p.a. is Rs.38,167.</p><h4><strong>✅</strong>&nbsp;<strong>What is 50 lakh home loan EMI for 30 years from Union Bank of India?</strong></h4><p>Union Bank of India offers home loans at a rate of interest starting at 6.70% p.a. The Rs. 50 lakh home loan EMI<strong> </strong>for 30 years from Union Bank of India is Rs.32,596.</p><h4><strong>✅</strong>&nbsp;<strong>What will be the&nbsp; 50 lakh home loan EMI for 25 years?</strong></h4><p>Rs. 50 lakh home loan EMI for 25 years @ rate of interest 6.80% p.a. is Rs.34,704.</p><h4><strong>✅</strong>&nbsp;<strong> What is the EMI for 50 lakhs home loan for 30 years from ICICI Bank?</strong></h4><p>ICICI Bank offers home loans at a rate of interest starting at 6.75% p.a. The Rs. <strong>50 lakh home loan EMI</strong> for 30 years from IDFC First Bank is Rs. 32,430.</p><h4><strong>✅</strong>&nbsp;<strong> Which bank has the lowest Rs.50 lakh home loan EMI for 30 years?</strong></h4><p>Citibank offers the lowest home loan interest rates starting at 6.50% p.a. Its Rs.<strong>50 lakh home loan EMI </strong>for 30 years is Rs. 31,603.</p>

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Owning a big house requires substantial funds. Thankfully these funds can be easily arranged through a home loan. If you too want to live this dream and want to know what is the EMI for 50 lakhs home loan, let’s find it out with the help of a 50 lakh home loan EMI calculator.

50 Lakh Home Loan EMI Interest Rate 2021

<h2><strong>How to Close HDFC Credit Card? - A Step by Step Guide</strong></h2><p>Nowadays, closing, cancelling or deactivating a Credit card has been made as easy as applying for the same. Banks like HDFC Bank allows their existing credit cardholders to cancel or close the same easily at their own will. Let's now understand how to close HDFC credit cards online and offline at our convenience.</p><p>Table of Content:-</p><ol><li>DIfferent ways to Close, Cancel or Deactivate HDFC Credit Card in&nbsp; 2021</li><li>How to close HDFC Credit Card temporarily in case of fraudulent activity?</li><li>Things to Keep in Mind While Closing HDFC Credit Card</li><li>Consequences of Closing HDFC Credit Card</li><li>Does a Cancelled or Closed HDFC Credit Card affect your CIBIL Score</li><li>How to Reactivate a Deactivated HDFC Bank Credit Card?</li><li>FAQs</li></ol><h2><strong>DIfferent ways to Close, Cancel or Deactivate HDFC Credit Card</strong></h2><h2><strong>How to close HDFC Credit card by calling Customer Care?&nbsp;</strong></h2><p>HDFC Customer Care Service lets their customer close or cancel their credit card whenever they want by calling on the toll-free number "61606161", which is 24x7 available. Customers can easily get their queries resolved by calling on this number.</p><p>HDFC Bank provides city-specific customer care numbers as well for the convenience of their users. Below mentioned are the HDFC Bank customer care numbers for specific cities along with city codes:-</p><figure class="table"><table><tbody><tr><td colspan="2"><strong>HDFC Bank Customer Care Numbers</strong></td></tr><tr><td>Ahmedabad</td><td>079 61606161</td></tr><tr><td>Bangalore</td><td>080 61606161</td></tr><tr><td>Chandigarh</td><td>0172 6160616</td></tr><tr><td>Chennai</td><td>044 61606161</td></tr><tr><td>Cochin</td><td>0484 6160616</td></tr><tr><td>Delhi &amp; NCR</td><td>011 61606161</td></tr><tr><td>Hyderabad</td><td>040 61606161</td></tr><tr><td>Indore</td><td>0731 6160616</td></tr><tr><td>Jaipur</td><td>0141 6160616</td></tr><tr><td>Kolkata</td><td>033 61606161</td></tr><tr><td>Lucknow</td><td>0522 6160616</td></tr><tr><td>Mumbai</td><td>022 61606161</td></tr><tr><td>Pune</td><td>020 61606161</td></tr></tbody></table></figure><p><strong>Note:</strong> You might be charged for calling as per your tariff plan with the service provider</p><p>For any other city which is not mentioned above, customers can visit <a href="https://www.hdfcbank.com/personal/need-help/customer-care">this link</a>.</p><h2><strong>How to close an HDFC Credit card by filling the form?&nbsp;</strong></h2><p>Following are the steps for closing an HDFC credit card by filling an application form:-</p><p>Step 1:- Firstly, the HDFC credit card closure form should be downloaded from <a href="https://v1.hdfcbank.com/assets/pdf/credit-card-closure-form.pdf">this link</a>.&nbsp;</p><p>Step 2:- Next, one should fill the form and then send it to the below-mentioned address.</p><p><i>HDFC Bank Cards Division,</i></p><p><i>P.O.Box No.8654, Thiruvanmiyur P.O.</i></p><p><i>Chennai – 600 041</i></p><p>After initiation of cancellation of credit card, it should be cut diagonally by the cardholder. Also, cancellation or closure of primary credit cards would result in cancellation or closure of add-on credit cards as well, i.e. they would be terminated automatically.</p><h2><strong>How to close HDFC Credit Card temporarily in case of fraudulent activity?</strong></h2><p>After realising that either fraud has occurred on your card or any unauthorised transaction has been done, you should immediately inform your respective bank at the earliest.</p><p>In the case of HDFC Bank, the following are the different methods available through which one can get its card blocked in case of fraud.</p><h2><strong>How to close HDFC credit card using Net Banking?</strong></h2><p>Following are some of the simple steps, using which you can get your credit card blocked using net banking:-</p><p>Step 1:- At first, Simply login to HDFC Website by clicking on- <a href="https://netbanking.hdfcbank.com/netbanking/">https://netbanking.hdfcbank.com/netbanking/.</a></p><p>Step 2:- Enter your customer ID &amp; your password.</p><p>Step 3:- Once you are logged in, go to the "Card" Tab.</p><p>Step 4:- Then, under Credit Card Section, go to "Request".</p><p>Step 5:- After clicking on Credit Cart Hotlisting, your bank will block your card.</p><h2><strong>How to close HDFC credit card using Mobile Banking?</strong></h2><p>Following are some of the simple steps, using which you can get your credit card blocked using mobile banking:-</p><p>Step 1:- For blocking your credit card by using mobile banking, at first, you need to have HDFC mobile banking app on your device that can be simply downloaded from App Store/ Play Store by IOS/Android users, respectively.</p><p>Step 2:- You can either use a 4-digit PIN to log in, or you can use Touch ID as well for the same.</p><p>Step 3:- Go to "Menu", then click on "Pay", and after that, go to the "Cards" section.</p><p>Step 4:- Select the credit card from the list of cards that you need to block because of fraudulent activity being done on that card.</p><p>Step 5:- To get the card closed or blocked, click on the "Block" option after providing the reason for the same, which either can be lost or stolen.</p><p>Step 6:- Once the card is blocked, you can even opt for the re-issuance of a credit card through Mobile banking only.</p><h2><strong>How to close HDFC credit card using Phone Banking?</strong></h2><p>In case of fraudulent activity on your HDFC credit card, one can get it closed by making a call on your phone banking number so as to report fraudulent activity being done. The customer care number will depend on the <a href="https://www.hdfcbank.com/personal/need-help/customer-care">city</a> or <a href="https://www.hdfcbank.com/personal/need-help/nri-phonebanking-numbers">country</a> in which you reside, details of which can be obtained from HDFC's official website.</p><p>One can also call on 18002586161 to report the fraudulent activity done or to get the credit card blocked. Once it is blocked, the bank can be asked for the re-issuance of a new credit card.</p><h2><strong>Things to Keep Handy before Calling Phone Banking to Report Unauthorised Transaction</strong></h2><p>Once that you have decided to make a call to the customer care number to report the fraud, you need to keep in advance the following information ready.</p><ol><li>Credit Card</li><li>The type of transaction, i.e. whether it was used to make an online transaction or what</li><li>The date on which the fraudulent transaction occurred</li><li>And the amount of transaction</li></ol><p>HDFC Phone Banking Number in case of NRI’s:-&nbsp;</p><figure class="table"><table><tbody><tr><td><strong>Country</strong></td><td><strong>Phone Banking Number</strong></td></tr><tr><td>United States of America</td><td>855-999-6061</td></tr><tr><td>Singapore</td><td>800-101-2850</td></tr><tr><td>Canada</td><td>855-999-6061</td></tr><tr><td>Other countries</td><td>91-2267606161</td></tr></tbody></table></figure><p><strong>Things to Keep in Mind While Closing HDFC Credit Card</strong></p><p>Many a times customer feels it very fussy to manage credit cards, or sometimes they get a better option, i.e. better offers from some other bank which suits their financial requirements in a better manner due to which need arises to close or cancel a current credit card. So, it is of extreme importance for you to know the process of closing or deactivating HDFC credit card or any other bank credit card.</p><p>Let's now have a look at some of the key points to consider before knowing how to close HDFC credit card online or offline:</p><ol><li><strong>Payment of Dues:</strong>&nbsp;Once the cardholders have applied for closure or cancellation of credit card, they should make sure that all the outstanding amount or dues or unpaid EMI's against the respective credit card, if any, should be cleared. If not cleared or paid, then they would be notified by the bank either through call or through an email on their registered phone number or email id, respectively.</li><li><strong>Reward Points Redemption:</strong>&nbsp;The cardholders should check the number of reward points that are standing unredeemed before applying for the cancellation of a credit card. They can use the same to buy attractive products, to get lucrative discounts on the products and services which are available in the bank’s rewards catalogue.&nbsp;</li><li><strong>Assure non-usage of the credit card just before cancellation:</strong>&nbsp;The credit cardholder should be well aware of the fact that if they use the credit card just before closing it, then the request for closure or cancellation would not be taken up by the bank. It would only be considered only if all the dues are cleared by the cardholder.</li><li>Scrutinise the latest credit card statement for fraudulent activity:&nbsp;Credit cardholders should rigorously scrutinise the latest credit card statement once before applying for the cancellation of their credit card to assure that no fraudulent transaction has been made.</li></ol><p><strong>Consequences of closing the credit card</strong></p><p>Suppose we speak about the overall credit limit, which would get reduced if one of the cards is cancelled or closed. As a result of which there would be an increase in the utilisation of credit limit if expenses remain the same. This would end up adversely affecting the credit score and also getting loan approval.</p><h2><strong>Does a Cancelled or Closed HDFC Credit Card affect your CIBIL Score?</strong></h2><p>The answer to the question is Yes, but only if the credit cardholder uses more than one credit card. As explained above, cancellation of one of the credit cards would result in a reduction of the overall credit limit, but simultaneously an increase in the utilisation of credit limit. So, in this way, cancellation or closure of credit cards would adversely affect CIBIL score.</p><h2><strong>How to Reactivate a Deactivated HDFC Bank Credit Card?</strong></h2><p>Below mentioned are the steps for reactivating a deactivated HDFC Bank credit card:-</p><p><strong>Step 1:-</strong> The application form should be downloaded from the HDFC's official website, i.e. www.hdfcbank.com, if the cardholder wants to reactivate the closed credit card.</p><p><strong>Step 2:-</strong> After filling up the same, it should be sent to the below-mentioned address.</p><p><i>HDFC Bank Cards Division, PO Box 8654, Thiruvanmiyur, Chennai-600041</i></p><p><strong>Step 3:-</strong> Upon successful verification of the same, the bank would reactivate the credit card.</p><h3><strong>Frequently Asked Questions (FAQs)</strong></h3><h4><strong>✅ Difference between HDFC Credit &amp; Debit Card</strong></h4><p>The difference between debit &amp; credit cards is that the debit card balance is deducted immediately at the time of the transaction, but in credit card balance is deducted from the pre-approved limit, and the cardholder is allowed to make its payment over a period of time that is fixed in advance along with interest.</p><h4><strong>✅How can I close my HDFC credit card online?</strong></h4><p>Below mentioned are the steps for the same:-</p><p><strong>Step 1:-</strong> Login into your HDFC account and go to Credit Card Section.</p><p><strong>Step 2:-</strong> Next, click on Credit Card Hotlisting.</p><p><strong>Step 3:-</strong> Select a credit card out of the list of all credit cards which needs to be closed.</p><p><strong>Step 4:-</strong> Once the reason for closure is shown, it would make the card non-operational and would be closed.</p>

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How to Close HDFC Credit Card - Know how to Close or Cancel HDFC Credit Card Online. Check Email, Letter to Close & Helpline Number for Closing.

How to Close HDFC Credit Card? - A Step by Step Guide

<p>How to Close HDFC Credit Card - Know how to Close or Cancel HDFC Credit Card Online. Check Email, Letter to Close &amp; Helpline Number for Closing.</p>

<p>In 1987, when HSBC Bank introduced the ATM concept in India for the first time, people were so excited that they won’t need to visit banks, stand in long queues, and fill the form to withdraw money. People were happy withdrawing cash from their bank accounts, and spend it on their expenses. The ATM and Debit Cards’ boom in India has been growing since that invention. Nowadays, people can’t imagine going through the same old process anymore. Today, most of the bank account holders have an ATM or Debit Card.</p><p>However, unlike Debit Cards, <a href="https://www.mymoneymantra.com/credit-card.html"><strong>Credit Cards</strong></a> took so long to get the acceptance among Indian customers. Credit Cards were seen as a liability in India and people were resistant to accept that transformation in the way transaction used to happen. The Credit Card market started in 1981 in India when Visa issued the card, and Andhra Bank was the trailblazer of Credit Cards in the country back then.</p><p>The word credit did not go down well in the Indian anti-credit mindset in the initial years of the invention of Credit Cards. Not many people were willing to adopt that trend as they felt Credit Cards can increase their credit and liability which they might not be able to repay. If they default or delay the due payment, the outcome could be against them.</p><p>The ability to ‘spend now and pay later’ became the reason behind acceptance of this plastic currency. And, gradually, with the increase in income and internet boom, salaried individuals also started using Credit Cards.</p><p>Today, <strong>Credit Cards</strong> are not just merely accepted, but are being used exponentially across the country for several reasons – you can withdraw money, make utility and other bill payments, buy a recent expensive gadget and pay in instalments, transfer funds, shop, and do a lot of stuff with this single plastic card.</p><p>As per the data recently released by RBI (Reserve Bank of India), around 29.8 million Credit Cards were issued in March, 2017. The usage of Credit Cards has also hit a record high in India. There is a 9% growth in Credit Card outstanding in the initial four months of FY18. The Credit Card spending stood at 33,6196 Crores on 31 March, 2017 in India. In March 2012, the figure was 8,958 Crores, that shows a leap of 275%. The number of defaults has also been reduced in recent years.</p><h3><i><strong>So, what is the reason behind this sudden jump? Here are a few reasons:</strong></i></h3><ul><li>Banks are being more flexible in issuing Credit Cards as they can easily access the credit scores of their customers through CIBIL and other credit bureaus. These scores help them determine borrower’s financial stability and the default, if any.</li><li>There is contribution of e-commerce boom too. Now more people are shopping online using digital payment methods including Credit Cards.</li><li>The merchants are providing attractive offers on Credit Cards for their customers such as cash-backs, rewards, discounts, etc.</li><li>Credit Cards enable customers can to buy expensive items on easy instalments.</li><li>The growth is also the outcome of Indian Government’s demonetization and digitalization move.</li></ul><p><strong>Credit Cards</strong> are being used in India like never before, and with the speed, people are being digitally advanced now, e-payments (including Credit Cards) are expected to increase 10 times by 2010.</p><figure class="image"><img src="https://d1lt2ralzv8247.cloudfront.net/Credit_Card_61a1913728.png" alt="Credit Card"></figure><p>&nbsp;</p>

<p>In 1987, when HSBC Bank introduced the ATM concept in India for the first time, people were so excited that they won&#8217;t need to visit banks, stand in long queues, and fill the form to withdraw money. People were happy withdrawing cash from their bank accounts, and spend it on their expenses.</p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/credit-cards-resistance-acceptance-growth-india/' data-a2a-title='Credit Cards: The Resistance, Acceptance, and Growth in India'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcredit-cards-resistance-acceptance-growth-india%2F&amp;linkname=Credit%20Cards%3A%20The%20Resistance%2C%20Acceptance%2C%20and%20Growth%20in%20India' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcredit-cards-resistance-acceptance-growth-india%2F&amp;linkname=Credit%20Cards%3A%20The%20Resistance%2C%20Acceptance%2C%20and%20Growth%20in%20India' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcredit-cards-resistance-acceptance-growth-india%2F&amp;linkname=Credit%20Cards%3A%20The%20Resistance%2C%20Acceptance%2C%20and%20Growth%20in%20India' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcredit-cards-resistance-acceptance-growth-india%2F&amp;linkname=Credit%20Cards%3A%20The%20Resistance%2C%20Acceptance%2C%20and%20Growth%20in%20India' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcredit-cards-resistance-acceptance-growth-india%2F&amp;linkname=Credit%20Cards%3A%20The%20Resistance%2C%20Acceptance%2C%20and%20Growth%20in%20India' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcredit-cards-resistance-acceptance-growth-india%2F&amp;linkname=Credit%20Cards%3A%20The%20Resistance%2C%20Acceptance%2C%20and%20Growth%20in%20India' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Credit Cards: The Resistance, Acceptance, and Growth in India -

 <p style='text-align: justify;'>In the year 2015, Prime Minister of India announced a new scheme of “Housing for All by 2022” targeting two crore homes to be built across all urban areas. Since then, financial institutions including banks, HFCs and NBFCs are competing with each other in order to provide the best <a href='https://www.mymoneymantra.com/home-loan.html'  target='_blank' ><strong>Home Loan</strong></a> product to customers. The competition among various lenders in affordable housing segment has seared up.</p> <p style='text-align: justify;'>To pace up with the growing competition in the respective segment and to strengthen its mortgage book, Axis Bank has launched a revolutionary home loan product named as “Shubh Aarambh Home Loan” for new home loan borrowers.</p>  <p><a href='https://www.mymoneymantra.com/home-loan.html' target='_blank' ><img class='aligncenter size-full wp-image-4342' src='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_826c400e00.jpg' target='_blank'  alt='Best Home Loan Provider in India' srcset='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_826c400e00.jpg 868w, https://www.mymoneymantra.com/blog/wp-content/uploads/2017/08/Home-Loan-300x35.jpg 300w, https://d1lt2ralzv8247.cloudfront.net/Home_Loan_768x88_a7bea6ac3e.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a></p>  <p style='text-align: justify;'>Under the new scheme, the bank will waive off total 12 EMIs (Equated Monthly Instalments) of your home loan &#8211; four EMIs each at the end of 4th, 8th and 12th year, over a tenor of 20 years. This means if you take a Home Loan from Axis Bank of an amount up to <i class='fa fa-inr'></i>20 Lakhs for a span of 20 years then you will get a benefit of waiving off 12 of your loan EMIs. However, the benefit can only be availed if you are regularly paying your EMIs. As per the bank norms, under the scheme, the rate of interest will remain same at 8.35% and the benefit will be provided to customers in the form of reduced loan tenor. The borrowers availing loan under <a href='https://www.mymoneymantra.com/blog/booked-home-pradhan-mantri-awas-yojana-yet/' target='_blank'><strong>Pradhan Mantri Awas Yojna </strong></a>(PMAY) will receive extra benefit in terms of savings.</p> <p style='text-align: justify;'>To understand it better, we can consider a case. If you take a <strong>Home Loan</strong> of <i class='fa fa-inr'></i>20 Lakhs for a tenor of 20 years at the interest rate of 8.35% then you are eligible to avail the assured benefit under this scheme. After 4 years, your 4 EMIs will be waived off which will save your interest amount by <i class='fa fa-inr'></i>1,78,049 leading to a reduction in loan tenor by 15 months. The scheme is additionally beneficial if you are enrolled under PMAY scheme. When the subsidy gets credited to your loan account, the principle outstanding on your loan will be reduced by <i class='fa fa-inr'></i>2.2 Lakhs under PMAY scheme and afterwards the scheme of Shubh Aarambh will be applied.</p> <p style='text-align: justify;'>So if you are planning to take a home loan of up to <i class='fa fa-inr'></i>30 Lakhs for loan tenor of 20 years and above, then you can choose <a href='https://www.mymoneymantra.com/home-loan/axis-bank.html' target='_blank'><strong>Axis Bank Home Loan</strong></a> to maximize your savings on home loan. The scheme is packed with several benefits as you are not required to pay extra rate of interest and your overall loan tenor will be shortened. The benefit of Shubh Aarambh <strong>Home Loan</strong> can also be availed by borrowers who have taken Home Loan under Asha Home Loan scheme.</p> <p style='text-align: justify;'>To apply and get benefited under the scheme, you can contact our Mortgage Specialists who will further guide you to avail maximum benefit. The experts at <strong>MyMoneyMantra</strong> have developed a deep understanding of banking policies from their experience of over three decades. Hence, they will get you the best home loan deal.</p>  <p><strong>Also Read: <span style='text-decoration: underline;'><a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/'>5 Best Home Loan Providers in India</a></span></strong></p>  <p style='text-align: justify;'>To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit <a href='https://www.mymoneymantra.com/'  target='_blank' ><strong>www.mymoneymantra.com</strong></a>, the leading online lending marketplace that offers financial products from 70+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.</p>  <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/a-revolutionary-home-loan-product-by-axis-bank-only-for-you/' data-a2a-title='A Revolutionary Home Loan Product by Axis Bank Only for You'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

<p>In the year 2015, Prime Minister of India announced a new scheme of “Housing for All by 2022” targeting two crore homes to be built across all urban areas. Since then, financial institutions including banks, HFCs and NBFCs are competing with each other in order to provide best Home Loan product to customers. </p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/a-revolutionary-home-loan-product-by-axis-bank-only-for-you/' data-a2a-title='A Revolutionary Home Loan Product by Axis Bank Only for You'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fa-revolutionary-home-loan-product-by-axis-bank-only-for-you%2F&amp;linkname=A%20Revolutionary%20Home%20Loan%20Product%20by%20Axis%20Bank%20Only%20for%20You' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Axis Bank has launched a revolutionary home loan product named as Shubh Aarambh Home Loan for new home loan borrowers.

A Revolutionary Home Loan Product by Axis Bank Only for You

 <p>Do you need a large amount to meet some immediate expenses at a low-interest rate? If yes, then Loan Against Property (LAP) can be the best alternative among all other financial options. Not just low-interest rate, but it also provides longer tenor and flexibility of usage as you can obtain this loan to fund various needs like bearing urgent medical expenses, business expansion, funding your child’s educational expenses, etc.</p>  <h2><span style='font-size: 12pt;'><strong><em>However, you must follow 5 rules mentioned below before signing the loan agreement:</em></strong></span></h2>  <h3><span style='color: #99cc00; font-size: 12pt;'><strong>1. Borrow as per Your Repayment Capacity</strong></span></h3> <p>Do you imagine yourself paying LAP EMIs for next many years? If no, it is advised to borrow an amount that you can repay conveniently. Most banks offer 50-90% LAP based on the property’s market value. As per the experts, you should keep your monthly EMI for Loan Against Property between 60- 65% of your total income. Having high monthly instalments can eat a major portion of your income and you might have to compromise on some important financial goals like your retirement plan, child’s education, etc.</p>  <h3><span style='color: #99cc00; font-size: 12pt;'><strong>2. </strong><strong>Go for a Short Tenor if You Can</strong></span></h3> <p>LAP comes with a flexible tenor of 5-20 years thus, making the EMIs lower. <a href='https://www.mymoneymantra.com/loan-against-property.html'><strong>Small EMIs on Loan Against Property</strong></a> may look financially attractive to you in the beginning; however, you may end up paying more interest in the long run than a shorter tenure loan. In case you can’t afford bigger EMIs when you purchase a loan, you may ask your lender to shorten the tenor by increasing EMIs when there is a rise in your income. Doing this can reduce your loan burden.</p>  <h3><span style='color: #99cc00; font-size: 12pt;'><strong>3. Repay EMIs Timely</strong></span></h3> <p>Defaulting on or delaying your loan EMIs can land you in trouble. You will not only be charged penalties for non-payment, but irregular repayment can bring your credit score down, reducing your chances of getting a loan in future. It is advised to repay your loan in a disciplined way as any late payment or default will reflect in your credit record.</p> <h3><span style='color: #99cc00; font-size: 12pt;'><strong>4. Get Insurance with Big Loans</strong></span></h3> <p>If you are availing a huge loan amount such as Loan Against Property or <strong>Home Loan</strong>, make sure you also take an insurance cover. Insurance amount can lessen the debt burden on your family in any unfortunate circumstances. Many banks offer a term cover with the loan to their customers. Also, you can opt for a regular term plan serving the same purpose</p>  <h3><span style='color: #99cc00; font-size: 12pt;'><strong> 5. </strong><strong>Read the Fine Print Carefully</strong></span></h3> <p>No matter how long your loan’s fine print is, it is imperative to read and understand it clearly. Look out the clauses for late payment penalties, foreclosure, processing charges, administration and other additional charges that are associated with your loan. Don’t sign the document until you entirely understand all the clauses mentioned in it.</p>  <p><strong>Also Read: <span style='color: #99cc00;'><a style='color: #99cc00;' href='https://mymoneymantra.tumblr.com/post/169499490155/things-to-keep-in-mind-before-applying-for-axis' target='_blank'><em>Things to Keep in Mind Before Applying for Axis Bank Loan Against Property</em></a></span></strong></p>  <p><a href='https://www.mymoneymantra.com/loan-against-property.html'><img class='aligncenter size-full wp-image-1714' src='https://d1lt2ralzv8247.cloudfront.net/Loan_Against_Property_476ac98202.png' alt='Apply for a LAP' width='379' height='45' srcset='https://d1lt2ralzv8247.cloudfront.net/Loan_Against_Property_476ac98202.png 379w, https://www.mymoneymantra.com/blog/wp-content/uploads/2018/03/Loan-Against-Property-300x36.png 300w' sizes='(max-width: 379px) 100vw, 379px' /></a></p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/5-rules-to-follow-when-purchasing-a-loan-against-property/' data-a2a-title='5 Rules to Follow When Purchasing a Loan Against Property'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

<p>Do you need a large amount to meet some immediate expenses at a low-interest rate? If yes, then Loan Against Property (LAP) can be the best alternative among all other financial options. Not just low-interest rate, but it also provides longer tenor and flexibility of usage as you can obtain this loan to fund various needs like bearing urgent medical expenses, business expansion, funding your child&#8217;s educational expenses, etc.</p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/5-rules-to-follow-when-purchasing-a-loan-against-property/' data-a2a-title='5 Rules to Follow When Purchasing a Loan Against Property'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-rules-to-follow-when-purchasing-a-loan-against-property%2F&amp;linkname=5%20Rules%20to%20Follow%20When%20Purchasing%20a%20Loan%20Against%20Property' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

thumbnail_loan-against-property.jpg

loan-against-property.jpg

Do you need a large amount to meet some immediate expenses at a low-interest rate? If yes, then Loan Against Property (LAP)

5 Rules to Follow When Purchasing a Loan Against Property

 <p>Is the weight of your monthly EMI (Equated Monthly Instalment) weighing you down? Or are you dejected about the fact that you have been paying higher interest on your Home Loan than someone else? Well here is an excellent offer for you. You can <strong>Apply for ICICI Home Loan Balance Transfer</strong> and shift the outstanding balance of your existing Home Loan availed from another bank or a non-banking financial institute (NBFC) to get better interest rate and terms.</p> <h2><span style='font-size: 12pt; color: #99cc00;'><strong>Benefits of choosing an ICICI Bank Home Loan Balance Transfer (HLBT)</strong></span></h2> <ul> <li><strong>Attractive interest rates:</strong> The interest rates for Home Loans are continually changing. This means that the interest rate that is offered today is very different from the one that you may have been informed at the time of applying for the loan. Today, the rates are far lower than the rates that were charged a few years ago. The interest rates can be as low as 8.40% (as per the current market conditions).</li> <li><strong>Low EMI: </strong>You can get rid of your monthly EMI woes with the EMIs starting at <i class='fa fa-inr'></i>765 per Lakh.</li> <li><strong>Simplified documentation: </strong>Applying for a Home Loan is so much more difficult as compared to getting an HLBT at ICICI. You’ll not have to worry about coming up with too many documents as you may have already submitted most of the papers that you need to the former bank or NBFC.</li> <li><strong>Additional top up loan:</strong> If you need additional funds then you can also apply for a top-up loan that can help provide you up to 100% of the Home Loan amount.</li> <li><strong>Doorstep service:</strong> In the world of online banking you can now <a href='https://www.mymoneymantra.com/home-loan-balance-transfer.html' target='_blank'><strong>Apply for Home Loan Balance Transfer Online</strong></a>, and a representative from the bank will come to your home and complete any documentation that may be required.</li> <li><strong>Increased Tenure:</strong> The tenure is the period in which you need to repay the Home Loan. With ICICI bank HLBT, you can get tenure of up to 30 years which can, in turn, drive down the EMI that you must pay per month.</li> </ul>  <p><a href='https://www.mymoneymantra.com/home-loan-balance-transfer.html' target='_blank'><img class='aligncenter size-full wp-image-2004' src='https://d1lt2ralzv8247.cloudfront.net/HLBT_b558b8fa8e.jpg' alt='Home Loan Balance Transfer' srcset='https://d1lt2ralzv8247.cloudfront.net/HLBT_b558b8fa8e.jpg 868w, https://www.mymoneymantra.com/blog/wp-content/uploads/2018/04/HLBT-300x35.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2018/04/HLBT-768x88.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a></p>  <h3><span style='font-size: 12pt; color: #99cc00;'><strong>Eligibility for Home Loan Balance Transfer</strong></span></h3> <p>At the time of application for the loan, you have to be above 21 years and not more than 60 years of age with regards to a salaried, and 65 years in case of a self-employed individual.</p> <p>Some of the other factors that are taken into consideration before the transfer of the loan are:</p> <ul> <li>Current income</li> <li>Number of applicants</li> <li>Retirement age of the applicant</li> <li>Debt</li> </ul> <p>If you are a borrower who has paid at least 12 to 18 unbroken EMIs on your existing Home Loan and you also have a good credit score, you would be eligible for a Home Loan Balance Transfer. Some institutes also have a minimum loan amount that qualifies for an HLBT.</p> <p>The applicant must also have at least two years of work experience and should have been with the current organization for at least a year. In the case of being self-employed, they need to have been in the same profession for the past two years and should have records of the required ITR filed.</p> <p>ICICI Bank has an online HLBT eligibility calculator that can help you calculate your eligibility as well as the monthly EMI that you would have to pay according to the outstanding balance that you want to transfer. It can also take into consideration whether or not you want a top up loan and do the calculations accordingly.</p>  <p><strong>Also Read:<a href='https://www.mymoneymantra.com/blog/choose-icici-bank-home-loan-dream-home/' target='_blank'> Why Choose ICICI Bank Home Loan to Own Your Dream Home?</a></strong></p> <h3><span style='font-size: 12pt; color: #99cc00;'><strong>The process of Home Loan Balance Transfer</strong></span></h3> <ul> <li>First, calculate your eligibility for an HLBT using the calculator available on the website.</li> <li>Apply for an HLBT online through MyMyMoneyMantra for quick loan processing.</li> <li>Once the application is approved, request the documents required for the refinancing of the loan from your previous Home Loan provider.</li> <li>Once you have received the paperwork, the letter of consent and the total outstanding amount that has to be paid, send these documents to ICICI. For easy documentation submission process, you can apply for HLBT through MyMoneyMantra.</li> <li>After the documentation process is completed the outstanding loan amount will be transferred to the previous lender.</li> <li>The previous loan account will be closed, and the future payments will be made to the ICICI bank.</li> <li>Finally, the former lender will hand over of the property documents to ICICI which they will then give back to you once the entire loan amount has been repaid.</li> </ul> <p>Armed with this knowledge, you can now <strong>Apply for ICICI bank Home Loan Balance Transfer</strong> at your convenience and stop thinking of your EMI as a burden.</p> <p>To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit <strong><a href='https://www.mymoneymantra.com' target='_blank'>www.mymoneymantra.com</a></strong>, the leading online lending marketplace that offers financial products from 60+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.</p>    <p><a href='https://www.mymoneymantra.com/home-loan-balance-transfer.html'><img class='aligncenter size-full wp-image-1715' src='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_Balance_Transfer_427431fb23.png' alt='Apply for a HLBT' width='275' height='43' /></a></p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/icici-bank-home-loan-balance-transfer-benefits-eligibility-and-process/' data-a2a-title='ICICI Bank Home Loan Balance Transfer: Benefits, Eligibility, and Process'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

<p>Is the weight of your monthly EMI (Equated Monthly Instalment) weighing you down? Or are you dejected about the fact that you have been paying higher interest on your Home Loan than someone else? Well here is an excellent offer for you. </p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/icici-bank-home-loan-balance-transfer-benefits-eligibility-and-process/' data-a2a-title='ICICI Bank Home Loan Balance Transfer: Benefits, Eligibility, and Process'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ficici-bank-home-loan-balance-transfer-benefits-eligibility-and-process%2F&amp;linkname=ICICI%20Bank%20Home%20Loan%20Balance%20Transfer%3A%20Benefits%2C%20Eligibility%2C%20and%20Process' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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INTERNAL-ICICI-hl_2-5-2018.jpg

Want to avail ICICI Bank Home Loan Balance Transfer to reduce the interest rate of your existing Home Loan? Read here to know about the process & benefits.

ICICI Bank Home Loan Balance Transfer: Benefits, Eligibility, and Process

<p>Purchasing a residential property in India has become very expensive due to the constant upward trend in prices over the last few years. Earlier, you could have bought a residential property such as a house, flat, villa or plot using only your savings but now that has become a distant dream. Nowadays, the whole struggle for every prospective home buyer is arranging adequate money to take care of the margin requirements for a Home Loan as well as other allied expenditures such as registration charges, tax-deductible at source and statutory duties.</p><p>Yes, it is true that in the modern times, it is virtually impossible to purchase a residential property without a Home Loan. And even if you have sufficient money for an outright purchase, it is not recommended to go for it. It is so because of two reasons, firstly, Home Loans are available at an incredibly low rate of interests and secondly, you get tax deductions on interest paid on Home Loans and taking out such a massive chunk of cash from your reserves would put unnecessary strain on your finances.</p><figure class="table"><table><tbody><tr><td colspan="1"><strong>Lender</strong></td><td colspan="1"><strong>Benchmark Type</strong></td><td colspan="1"><strong>Interest rate (Min)</strong></td><td colspan="1"><strong>Interest rate (Max)</strong></td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/pnb-housing.html"><strong>PNB Housing</strong></a><strong>&nbsp;</strong></td><td>PLR</td><td>7.90%</td><td>9.70%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/sbi-bank.html"><strong>SBI</strong></a></td><td>RLLR</td><td>6.90%</td><td>7.90%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/bank-of-baroda.html"><strong>Bank of Baroda&nbsp;</strong></a></td><td>RLLR</td><td>7.00%</td><td>7.50%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/hdfc-ltd.html"><strong>HDFC</strong></a></td><td>PLR</td><td>6.90%</td><td>7.60%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/bank-of-india.html"><strong>Bank of India</strong></a></td><td>RLLR</td><td>6.85%</td><td>7.15%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/union-bank-of-india.html"><strong>Union</strong> <strong>Bank of India</strong></a></td><td>RLLR</td><td>8.00%</td><td>8.15%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/icici-bank.html"><strong>ICICI</strong></a></td><td>RLLR</td><td>6.90%</td><td>8.05%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/axis-bank.html"><strong>Axis Bank</strong></a></td><td>RLLR</td><td>7.45%</td><td>7.75%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/bajaj-finserv.html"><strong>Bajaj Finserv</strong></a></td><td>PLR</td><td>7.00%</td><td>12.00%</td></tr><tr><td><a href="https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html"><strong>Kotak Mahindra Bank</strong></a></td><td>RLLR</td><td>6.90%</td><td>8.40%</td></tr></tbody></table></figure><h3><strong>All about Home Loan Interest Rate &amp; Tenure&nbsp;</strong></h3><p>Home Loans are one of the most popular financial products in India and is extensively used by prospective home buyers to purchase their dream house. Home Loans are secured loans against which you need to mortgage the property that has been obtained with the loan amount. The tenure of a Home Loan can extend up to 30 years with rates of interest starting from 6.90% p.a. Most lenders also offer the facility of a top-up loan with Home Loans also, which helps with the management of your financial requirements.</p><p>You can apply for a Home Loan<strong> </strong>in India Online as well as offline. There are various online loan aggregating platforms, where you can easily compare multiple loan options and select the best option for you. Most financial institutions offer convenient online application facility, where you need not visit any branch or office for submission of the documents. All you have to do is fill the application form online, and the lenders will send their representative to your place to complete all the formalities. But if you prefer the traditional method, you can walk into office or branch belonging to your preferred lender and set things in motion.</p><h2><strong>Documents Required to Buy a Property in India</strong></h2><p>Purchasing a property not only involves you scouting different locations and neighborhoods, but it also requires you to handle a lot of documentation. In India, while buying a residential property, you need to pay particular attention to the documentation part, in order to ensure that you are purchasing the right property. There are certain documents that you must check for and obtain from the seller, to establish your ownership firmly. If you do not collect and review all the documents thoroughly, you will face a hard time selling the property in the future. Some of the essential documents that are required to buy a property in India are:</p><h3><strong>1. Sale Deed/Title Deed/Conveyance Deed</strong></h3><p>It is the most important document to establish your ownership of the property. You must ensure that you have all title deeds and conveyance deeds to determine the ownership of the property for last 30 years. You should insist on a registered sale deed which has been registered in the office of sub-registrar.</p><h3><strong>2. Extracts from Mutation Register</strong></h3><p>You need to obtain the relevant excerpts from the mutation register as it contains essential information about the last owner, the present owner, mode of purchase, nature of land and the total area of the land on which the property is located.</p><h3><strong>3. NOC from Government Departments</strong></h3><p>You need to have NOC (No Objection Certificate) from government departments in order to ensure that there are no statutory dues pending and also to make sure that the property is regularised and not under acquisition or demolition from any government department.</p><h3><strong>4. House Tax/Property Tax Receipts</strong></h3><p>You must get the house tax/property tax receipts from the seller at least for the last 5 years in order to ensure that no house tax dues are pending and it also establisher the ownership of the seller.</p><p><strong>4. GPA (General Power of Attorney)</strong></p><p>If the last sale/purchase of the property was done through GPA, then you need the copy of the GPA to ascertain that the person who carried out the transaction was duly authorised to do so.</p><h3><strong>5. Sanctioned Building Plan</strong></h3><p>It helps you to ascertain that the building has been constructed as per the approved plan and no rules have been flouted by the builder.</p><h3><strong>6. Allotment Letter</strong></h3><p>If you purchase a property from a builder or society, you need to obtain the allotment letter to know how much money is outstanding to be paid to the builder or society on account of the said property. It also contains all the necessary details about the property.</p><h3><strong>7. Payment Receipts</strong></h3><p>You need to have all the signed payment receipt from the seller specifying the receipt of the money/advance paid on account of the purchase of the property.</p><h3><strong>8. Documents Pertaining to Existing Loan</strong></h3><p>If the property has an existing loan running, you need to obtain some crucial documents from that lender such as foreclosure letter, list of documents and NOC regarding the sale of the property.</p><h3><strong>9. Agreement to Sell</strong></h3><p>You must have a signed agreement to sell, drafted on a stamp paper, and duly registered with the sub-registrar, in order to ensure that the agreement is binding on both the parties.</p><p>Whenever you are going to purchase a residential property in India, do not rush into making any decisions. Check all the documents, avail services of a lawyer or property consultant and only after thorough research take a final decision.</p><p><strong>Also Read:&nbsp;</strong><a href="https://www.mymoneymantra.com/blog/residential-property-or-building-apartment-which-one-is-best/"><strong>Residential Property or Building Apartment: Which One is Best?</strong></a></p><p>To apply online for <a href="https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/"><strong>Best Home Loan in India</strong></a>, Credit Cards, Personal Loan, LAP &amp; Business Loan visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 4 million+, Happy customers, since 1989.</p>

<p>Purchasing a residential property in India has become very expensive due to the constant upward trend in prices over the last few years. </p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/what-are-the-documents-required-to-buy-a-property-in-india/' data-a2a-title='What Are the Documents Required to Buy a Property in India?'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fwhat-are-the-documents-required-to-buy-a-property-in-india%2F&amp;linkname=What%20Are%20the%20Documents%20Required%20to%20Buy%20a%20Property%20in%20India%3F' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fwhat-are-the-documents-required-to-buy-a-property-in-india%2F&amp;linkname=What%20Are%20the%20Documents%20Required%20to%20Buy%20a%20Property%20in%20India%3F' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fwhat-are-the-documents-required-to-buy-a-property-in-india%2F&amp;linkname=What%20Are%20the%20Documents%20Required%20to%20Buy%20a%20Property%20in%20India%3F' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fwhat-are-the-documents-required-to-buy-a-property-in-india%2F&amp;linkname=What%20Are%20the%20Documents%20Required%20to%20Buy%20a%20Property%20in%20India%3F' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fwhat-are-the-documents-required-to-buy-a-property-in-india%2F&amp;linkname=What%20Are%20the%20Documents%20Required%20to%20Buy%20a%20Property%20in%20India%3F' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fwhat-are-the-documents-required-to-buy-a-property-in-india%2F&amp;linkname=What%20Are%20the%20Documents%20Required%20to%20Buy%20a%20Property%20in%20India%3F' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Check the complete list of documents required to buy any property in India 2020. Apartment, Residential or Commercial Property all documents before purchasing any property.

List of Documents Required to Buy a Property in India 2020

<p>Women are no longer the weaker sex, as it used to be some decades ago. Today, the woman stands on the same footing along with their male counterparts. In fact, one can add that women are more resourceful than the men in many ways. They can handle a variety of responsibilities with ease. You have more women breadwinners today than ever before. Naturally, there will be challenges. Let us look at how to tackle them.</p> <p>There are single woman breadwinners and married woman breadwinners. Each one has a different set of liabilities. Let us look at these individual issues and understand how to tackle them.</p> <h2><span style='color: #99cc00;'><strong><span style='font-size: 12pt;'>Single Woman Breadwinner</span></strong></span></h2> <ul> <li><span style='font-size: 12pt; color: #99cc00;'><strong>Family Comes First</strong> –</span> Women have a lot of attachment to their families. Single women breadwinners often tend to prioritise supporting their parents and siblings financially. They even go to the extent of delaying their marriage and education for the sake of helping their family.</li> </ul> <p>How should they handle these issues? It is a great feeling to support their family. However, one should also save some money for their expenses. It is better to draw a budget and set aside a specific sum of money to take care of future costs such as marriage. Allocate the remaining amount towards the welfare of the family. Sticking to this budget can initially be difficult, but you will be able to manage them better with time.</p> <h2><span style='color: #99cc00;'><strong><span style='font-size: 12pt;'>Married Woman Breadwinner</span></strong></span></h2> <ul> <li><span style='font-size: 12pt; color: #99cc00;'><strong>Juggling Between Responsibilities </strong>–</span> You need special skills to manage your homes as well as your careers. If you have children, it becomes even more difficult. It is because motherhood comes before everything else in the world. It is a fantastic feeling to contribute towards the household responsibilities. You can share a portion of your income with your spouse’s contribution to take care of the household expenses. The double income advantage enables you to save for your children’s educational needs.</li> </ul> <p>Allocate a part of your income towards investing for the future of your children. Families having double income have a higher capacity to save money. Draw a household plan in such a way that you use your husband’s income for running the household and your income for securing the future of your children.</p>  <p><a href='https://www.mymoneymantra.com/business-loan.html' target='_blank'><img class='aligncenter size-full wp-image-2125' src='https://d1lt2ralzv8247.cloudfront.net/Business_Loan_83494e4321.jpg' alt='Business Loan Apply Online' srcset='https://d1lt2ralzv8247.cloudfront.net/Business_Loan_83494e4321.jpg 868w, https://www.mymoneymantra.com/blog/wp-content/uploads/2018/04/Business-Loan-300x35.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2018/04/Business-Loan-768x88.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a></p>  <ul> <li><span style='font-size: 12pt; color: #99cc00;'><strong>Tax Benefits</strong> –</span> If you live in a rented house, split your rent to maximise the tax benefits. The same logic applies when you claim HRA (House Rent Allowance). Understand that women have additional tax benefits. Be aware of these concessions and take advantage. The double income allows you to opt for a joint <a href='https://www.mymoneymantra.com/home-loan.html' target='_blank'><strong>Home Loan</strong></a>. The best aspect of the joint Home Loan concept is that both the husband and wife can claim separate tax concessions on the repayment of principal and interest amounts. Banks have Home Loan products for women at concessional interest rates provided she is the owner of the property.</li> </ul> <ul> <li><span style='font-size: 12pt; color: #99cc00;'><strong>Invest in a Health Plan</strong> –</span> Investing in individual health insurance plans can help you claim separate tax benefits. Opt for a family floater insurance plan and split the premium with your spouse to claim the maximum tax deduction.</li> </ul> <ul> <li><span style='font-size: 12pt; color: #99cc00;'><strong>Investment is the Key</strong> –</span> Usually, women do not work longer than the men do in their lives. They have household responsibilities to cater. Hence, you find that women tend to sacrifice their jobs for the sake of their families. Therefore, investment is the key. It is possible for double income earners to save more. Women should concentrate more on investment to ensure a better future.</li> </ul> <h2><strong><span style='font-size: 12pt; color: #99cc00;'>Women Business Entrepreneurs</span></strong></h2> <p>Today, you have women with excellent educational qualifications. Hence, the numbers of women entrepreneurs are also increasing. The Government of India has made it easier by introducing a slew of benefits. Banks have specific products where women can <a href='https://www.mymoneymantra.com/business-loan.html' target='_blank'><strong>Apply for a Business Loan for New Business</strong></a>.</p> <p>Women can avail Business Loan without collateral under CGTMSE. They have benefits in the form of a higher proportion of coverage while paying a lower premium. Many banks have a different interest rate structure when it comes to women beneficiaries. Usually, it is about 0.5% less than the standard rate for male recipients.</p> <h2><strong><span style='font-size: 12pt; color: #99cc00;'>Women Professionals:</span></strong></h2> <p>Today, you have more women professionals like doctors, chartered accountants, lawyers, and so on. The higher levels of education bring greater awareness about the importance of saving money for a better future. The enhanced level of income allows them to invest and save more.</p> <p>One must concede that women exhibit a greater sense of responsibility when they are the breadwinners of their families. Traditionally, women display a greater understanding of empathy. Historically, you do not see women wasting their hard-earned money. Their family always comes before everything else in the world. Therefore, you find women as better equipped to tackle financial issues than men are.</p>  <p><strong>Also Read: <span style='text-decoration: underline;'><a href='https://www.mymoneymantra.com/blog/7-reasons-why-lenders-turn-down-business-loan-applications/' target='_blank'>7 Reasons Why Lenders Turn Down Business Loan Applications</a></span></strong></p>  <p>To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit <a href='https://www.mymoneymantra.com' target='_blank'><strong>www.mymoneymantra.com</strong></a>, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 7 million+ happy customers since 1989.</p>  <p><a href='https://www.mymoneymantra.com/business-loan.html'><img class='aligncenter size-full wp-image-1720' src='https://d1lt2ralzv8247.cloudfront.net/Business_Loan_40543a643f.png' alt='Apply for a Business Loan' width='299' height='43' /></a></p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/tips-for-tackling-financial-issues-for-women/' data-a2a-title='Tips for Tackling Financial Issues for Women'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

<p>Women are no longer the weaker sex, as it used to be some decades ago. Today, the woman stands on the same footing along with their male counterparts. </p> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/tips-for-tackling-financial-issues-for-women/' data-a2a-title='Tips for Tackling Financial Issues for Women'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Ftips-for-tackling-financial-issues-for-women%2F&amp;linkname=Tips%20for%20Tackling%20Financial%20Issues%20for%20Women' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Dear women! It could be difficult to handle financial issues alongwith other tasks in hands. Worry not as these tips can help you do so efficiently.

Tips for Tackling Financial Issues for Women

<p>Founder &amp; Managing Director, MyMoneyMantra| BFSI Visionary &amp; Thought Leader| Erstwhile Captain,DGC</p>

Raj Khosla

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<p>Omni Channel Content Specialist| enthusiastic personal finance writer | Top50 CM professional by WMC, CMO</p>

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