Home Loan Interest Rates in
Nagpur
Nagpur, “The Orange City” is a charming place well connected with all the major cities of India. Investing in a home in Nagpur means settling in a place that boasts of a modern lifestyle, latest infrastructure, and rich cultural significance. The home loan in Nagpur, with an interest rate starting at an affordable 8.50% p.a., makes it relatively affordable for anyone to purchase a home in this city. While submitting the home loan application, the borrower must also pay the processing fee through a cheque in favor of the lender. The maximum loan amount offered by the best banks and lenders in Nagpur is up to 90% of the property cost for a maximum of 30 years.
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Home Loan Interest Rates in Nagpur
The home loan interest rate in Nagpur, beginning at 8.50% p.a., is an affordable bet for those keen to buy a home of their own in this beautiful city. Some banks may also offer lower interest rates for women who apply as home loan borrowers, and some offer affordable government housing schemes like PMAY to EWS. The list below will enlighten you with the rate of interest and processing fee on home loans in Nagpur provided by the best lenders:
| BASIC Bank/NBFC Partner Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|
 LIC Housing | 30 | 8.50% | Up to 0.25% (Rs. 25,000 max) | |
 Aavas Financiers Ltd. | 25 | 8.50% onwards | 1.00% of the loan amount | |
 HDFC Bank | 30 | 8.65% - 9.85% | Up to 0.25% (Rs. 3,540 min) | |
 Indian Overseas Bank | 30 | 9.35% | 0.50% of the loan amount | |
 PNB Housing | 30 | 8.75% - 11.45% | Up to 0.50% (Rs. 10,000 max) | |
 Federal Bank | 30 | 8.80% | 0.50% of the loan amount (Rs. 3,000 + GST min; Rs. 7,500 + GST max) | |
 Karur Vysya Bank | 30 | 9.23% | Rs. 2,500 - Rs. 7,500 | |
 State Bank of India | 30 | 9.15% - 12.95% | Up to 0.25% of the loan amount (Rs. 10,000 max) | |
 Tata Capital Ltd. | 30 | 8.95% onwards | 0.25% of the loan amount (Max: Rs. 3,540) |
Eligibility Criteria for Home Loans in Nagpur
These criteria are subject to variation from one bank to another. It is recommended that you check with the specific bank you are applying to for a home loan for its eligibility requirements.
Documents Required for Home Loans in Nagpur
Money lending is a procedure that is incomplete unless the borrower submits a set of KYC documents to the lender. Through these documents, the lender can verify the credibility of the borrower in terms of nationality, age, income, and credit history. Have a look at the list of documents required for a home loan in Nagpur listed below:
|
|
| Proof Of Residency | Aadhaar Card, Valid Passport |
| Proof Of Income | Bank Passbook, Bank statement, Last 3 years IT Return |
| Proof Of Age | PAN Card, Voter ID, Birth Certificate, Registration Certificate Of Establishment |
| Proof Of Employment | Certified Letter from Employee/Company Memorandum |
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