Overview of a Housing Loan in Indore
Indore is an industrial hub of Madhya Pradesh and is also known as one of the cleanest cities in the country. It was selected as one of the first 100 cities for the Smart City Mission. It is considered as the financial capital of Madhya Pradesh and is home to some of the prestigious institutions, such as IIT-Indore and IIM-Indore. Indore, being a centre of education and commerce, is witnessing significant growth and increasing demand in the city's real estate market.
To help you with your homebuying journey in this city, we offer Home Loans at an attractive interest rate with a longer repayment Tenure of up to 32 years, basis eligibility.
Features and Benefits of a Home Loan
Simple Documentation and Quick Processing
Get your Home Loan approved with basic KYC, income, financial, and property-related documents. Benefit from quick processing with our minimal documentation.
Refinance Your Existing Loan
You can transfer your existing Home Loan to us and benefit from our cost-effective terms. While doing so, you can also avail of a Top-up Loan at a competitive rate of interest.
24x7 Digital Access
Get documents and details regarding your Home Loan, such as your interest certificate and loan statement, anytime, anywhere, through our customer portal.
Simple Eligibility Criteria
Obtain a Home Loan with us quickly, courtesy of easy Home Loan eligibility terms. Our eligibility parameters, such as income and work experience, among others, are easy to meet.
No Prepayments Charges
We do not charge any penalty on the part-prepayment or foreclosure of a floating interest rate Home Loan for an individual borrower.
Flexible Tenure
With a tenure that goes up to 32 years, you can keep your EMIs low and align them with your income and obligations.
Documents Required for a Home Loan in Indore
Availing of a Home Loan with us is easy, given that you only need to provide basic documents*** such as:
- KYC documents (including ID and address proof)
- Mandatory documents (PAN Card or Form 60)
- Financials (Form 16, P&L statement, etc.)
- Bank account statements of the last 6 months
- Last 3 months’ salary slips (for salaried applicants only)
- Proof of business (for self-employed applicants only)
- Property papers such as Sale Agreement, Allotment Letter, and receipt of payments made to the agent or developer.
***This list of documents is indicative and you may be required to submit others during your application, if needed.
Eligibility Criteria for a Home Loan in Indore
The eligibility criteria for a Home Loan are easy to meet. You need to fulfil the following criteria to avail of a sizeable sanction on better terms:
| Eligibility Criteria | For Salaried | For Self-Employed |
|---|---|---|
| Nationality | Indian (including NRIs) | Indian (residents only) |
| Age | 23 to 67 years** | 23 to 70 years** |
| Work experience/business continuity | 3 years or more | 3 years or more |
| Income | Employed with a stable source of income | Showcase stable revenue from your profession or business (existing) |
**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Steps to Apply for a Home Loan Online in Indore
If you wish to avail of a Home Loan with us, enter all the requested details in the Home Loan application form. Once the form is filled and submitted, our representative will contact you to proceed with your Home Loan application.
If you submit all the details correctly and meet our verification parameters, you can expect a speedy approval, followed by disbursal.
*Terms and conditions apply.
Apply for a Home Loan in Indore with Bajaj Housing Finance—experience quick disbursal within 48 Hours* and flexible repayment terms after approval.
The documents required to avail of a Home Loan in Indore are:
- KYC documents such as Aadhaar Card, Voter's ID, and Utility Bills
- Mandatory documents such as PAN Card or Form
- Latest salary slips for salaried applicants and P&L statements for self-employed applicants
- Documents showing the business vintage of 3 years (for self-employed applicants only)
- Statements of your primary account of your last 6 months as proof of income
Note that this is a tentative list of documents. Additional documents may be requested during the loan processing.
If you apply for a Home Loan in Indore with Bajaj Housing Finance, you can secure a sizeable loan amount of Rs.5 Crore* or more, based on your eligibility.
If you are a salaried applicant looking to apply for a Home Loan in Indore, you must fall within the age range of 23 to 67 years**. Self-employed applicants aged between 23 and 70 years** can apply for a housing loan in Indore.
Before availing of a Home Loan in Indore, you can estimate the loan amount you can qualify for with a salary of Rs.50,000 using our Home Loan Eligibility Calculator.
The repayment tenure for a Home Loan in Indore extends up to 32 years.
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