Home Loans in Bengaluru

Bengaluru , also known as the city of gardens is growing by leaps and bounds. With the advent of the silicon technology, the city is continuing to become a breeding ground for software professionals. There’s a lot in store for migrants who are flogging to Bengaluru … the cosmopolitan culture, blissful weather, the fast developing infrastructure are reasons to settle in the blessed city of Bengaluru .

Therefore it’s only natural that there is an upswing in the real estate market of Bengaluru .

One stark feature of the city is that each locality of Bengaluru is developing townships with self-contained amenities and multinational organizations. The presence of industries in such a scenario becomes convenient for residents to live close to their workplaces with minimal commuting time.

Another notable factor of Bengaluru is that the generation of professionals between 30 & 45 years of age are exploring the real estate market to own an apartment. People living in other cities are purchasing homes as an investment tool and earn that extra income by letting out their homes on rent.

Further, there appears to be little need to shell out a large sum to purchase a home on an outright basis, thanks to Home loan lenders mushrooming in the city.

A considerable portion of the Home loan sector is being held by Kotak Mahindra Bank. The Bank is getting increasingly popular in this city, emerging in all its glory. There are umpteen reasons to opt for a Home Loan from Kotak Mahindra Bank. Call it simplicity with no cumbersome procedures or Quick Home Loan sanctions, Kotak Mahindra Bank is increasingly becoming the ideal choice of a Home buyer.

Some of the features of Kotak’s Home Loan are encapsulated below;

• Loan disbursal with minimum downtime
• Straight dealings with no hidden charges or conditions
• Zero processing fee for online applicants
• Courteous door-step service
• Insurance options to shield the Home Loan plan that come with an attractive premium
• Pradhan Mantri Awas Yojana (PMAY) compliant
   

Check your home loan eligibility to apply for a home loan in Bengaluru .

So for a Home Loan, choose Kotak Mahindra Bank that has been known to design the best possible deals nurtured with care. There need be no second thought other than Kotak Mahindra Bank for those who wish to make the garden city their home.

To avail a home loan in Bangalore from Kotak Mahindra Bank, we have a predefined home loan eligibility criteria.

Based on different types of applicants, here is the list of criteria that has to be fulfilled while applying for a home loan in Bangalore.

Eligibility criteria for an Individual to apply for a home loan in Bangaluru-

• Minimum 18 years of age and Maximum 60 years
• In case of self-employed: Maximum 65 years of age
• Gross Income of the Individual residing in Bangalore should be minimum Rs. 20,000/month.

Eligibility criteria for a Partnership Firm / LLP/ Indian Company to apply for a home loan in Bangaluru -

• Should be in existence for at least 3 years
• Minimum net income should be Rs.2,40,000/- p.a.

Eligibility criteria for a Hindu Undivided Family (HUF) to apply for a home loan in Bangaluru -

• Karta of HUF must be applicant / co applicant.
• Should be in existence for at least 3 years 
• IT returns of HUF for 3 years should be obtained.
• Minimum net income should be Rs. 2,40,000.

Minimum Qualification -

Graduate when applicant is employed with a private limited company or partnership firm. If applicant is employed with Public limited company or MNC or Government or Public Sector Company then there is no such criteria.

Check the list of required documents to apply for home loan in Bangaluru.

While submitting your application form, it is necessary to submit few supporting documents. Based on the type of applicant, we have made a list of documents required to apply for a home loan in Bangalore:

Documents required for a salaried applicant to apply for a home loan in Bengaluru-

• One photograph (passport size)
• Pan card copy (all applicants with relationship proof)
• Aadhaar card copy (all applicants with relationship proof)
• Residence proof copy (all applicants with relationship proof)
• Salary Slips (of all applicants whose income is considered) – last 3 months
• Form 16 and ITR (of all applicants whose income is considered) - last 2 years
• Bank statement in original where salary credited (of all applicants whose income is considered) – last 6 months
• Bank statement of any other bank a/c (of all applicants whose income is considered) - last 6 months
• Details of loan availed with track record (if any existing loans)
• All property documents (chain) with sanction map
   

Documents required for self-employed and NRI applicants to apply for a home loan in Bengaluru -

In addition to KYC documents, check out other necessary documents -