Home Loans in Hyderabad

Hyderabad has been the seat of numerous dynasties, and till date, she effortlessly enthralls every visitor with her splendour. Popularly known as the city of Nizams, Hyderabad is a potpourri of many exciting things. The city is a treat for those who admire history, cultures, architecture, pearls and the finest biryani one could find across the world. Ideally located, the city has emerged as a cosmopolitan hub with the influx of multi-lingual professionals.

With business-friendly and pro-growth policies laid by the state government, the city is experiencing a rise in commercial as well as residential spaces alike. Housing experts are forecasting that with Hyderabad becoming a natural eco-system for the aerospace and defence electronics, IT, life sciences and biotech companies, the city is sure to generate lucrative opportunities for professionals further leading to a realty boom.

Though the city seems to be a promising destination to migrate for better career opportunities and standard of living, finding the job of your choice and a home you would like, can be challenging. It is important to be financially stable and have funds in the back-up when you plan to migrate. While you plan to own a home in Hyderabad, the price of a flat is not the only expense you will have to bear. You should also consider other factors like travel, food, medical facilities, educational institutes, utility bills, etc.

Given the scenario, applying for a home loan in Hyderabad can help you save a substantial amount from your savings which you would have to pull out if paid outright. A home loan leads you in owning an asset that yields appreciation year-on-year as well as tax benefits.

At Kotak Mahindra Bank, we offer you bespoke solutions for your financial needs, one of them being the housing loan. To ensure that your home-buying experience in Hyderabad is a memorable one, we offer you highly customizable services.  Our home loans come with attractive interest rates and a tenure of up to 20 years for salaried and up to 15 years for self-employed.

We do understand about your busy schedule and hence provide you doorstep service, where our home loan executive will visit you to explain the entire application process, and to help you understand the entire housing loan eligibility
criteria and formalities.

Also, be rest assured that at Kotak Mahindra Bank, you can get an in principle approval of your home loan in 24 hours* by using your Income Tax login credentials. As our valued customer you are entitled to other benefits:

• Convenient Loan Disbursal Process
• Simplified Documentation
• Insurance Options to cover your Home loan at an attractive premium
• Quick Turnaround time
• A hassle-free process, no hidden charges
• Zero processing fees on home loans for customers applying on website
  

Check your housing loan eligibility to apply for a home loan in Hyderabad.

You can also use the home loan emi calculator to calculate your monthly instalments.

To avail a home loan in Hyderabad 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 Hyderabad.

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

• 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 Hyderabad should be minimum Rs. 15,000/month.

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

• Should be in existence for at least 3 years
• Minimum net income should be Rs.1,80,000/- p.a.

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

• 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. 1,80,000 p.a.

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 Hyderabad.

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

• 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 Hyderabad -

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