Interest Rate
7.10% to 13% p.a. — home loans have the lowest rates of any loan type. Public sector banks typically offer the most competitive rates for salaried employees.
Housing Loan — Own Your Dream Home with Safe EMI Planning
A home loan is a long-term commitment, but also the most tax-efficient and asset-building loan available. If you're managing app loan stress, plan your home purchase carefully — clear short-term debts first, then lock in the lowest rates for your biggest investment.
- Interest rates from 7.10% p.a. — the lowest of all loan categories
- Tenure up to 30 years for lowest possible EMI on your budget
- Tax savings up to ₹5 lakh/year under Section 80C & 24(b)
Home Loan at a Glance
Key details for your biggest financial decision.
Loan Amount
₹5,00,000 to ₹10,00,00,000+ depending on property value, income, and repayment capacity. LTV ratio ranges from 75-90% of property value.
Tenure
Up to 30 years — the longest tenure available for any loan. Longer tenure significantly reduces monthly EMI, making homeownership accessible.
Property Types
Finance new flats, under-construction, resale, plot purchase, or self-construction. All RERA-registered residential properties are eligible.
Eligibility Criteria
- Age: 21 to 65 years (loan maturity before retirement)
- Employment: Salaried (min 2 years) or self-employed (min 3 years)
- Minimum Income: ₹25,000/month (salaried) or ₹3 lakh/year (self-employed)
- CIBIL Score: 700+ for competitive rates; 650+ considered by select NBFCs
- LTV Ratio: Up to 90% for loans under ₹30 lakh; 80% for ₹30-75 lakh; 75% above ₹75 lakh
- Down Payment: 10-25% of property value (varies by loan amount slab)
Documents Required
Identity: PAN Card + Aadhaar Card
Income: Last 6 months salary slips, 12 months bank statements, Form 16/ITR
Property: Sale agreement, title deed, approved plan, NOC, RERA registration
Address: Aadhaar, Utility Bill, or Passport
Other: Processing fee cheque, passport photos, existing loan statements
Check EligibilityWhy a Home Loan is Your Best Long-Term Investment
Unlike app loans that drain your money, home loans build lasting wealth.
Massive Tax Savings
Save up to ₹2 lakh on interest (Section 24b), ₹1.5 lakh on principal (Section 80C), and additional ₹1.5 lakh for first-time buyers (Section 80EEA) — that's up to ₹5 lakh/year in tax benefits.
Asset Appreciation
While app loan money disappears, property values typically appreciate 8-12% annually. Over 10-15 years, your home's value can double or triple your investment.
Lowest Interest of All Loans
At 7-9% p.a., home loans cost a fraction of personal loans (12-24%) and credit cards (36-42%). The property as collateral enables these ultra-low rates.
Balance Transfer Option
Already paying high home loan rates? Transfer your balance to a lower-rate lender with zero prepayment penalty. Even a 0.5% rate reduction saves lakhs over the tenure.
Co-Applicant Advantage
Add spouse as co-applicant to boost eligibility by 30-40%. Both co-applicants can claim separate tax benefits, effectively doubling tax savings.
PMAY Subsidy
First-time buyers from EWS/LIG/MIG categories may be eligible for Pradhan Mantri Awas Yojana interest subsidy of 3-6.5%, saving ₹2.30-2.67 lakh on the loan.
Frequently Asked Questions
Should I buy a home while I still have app loan debts?
Ideally, clear all high-interest short-term debts first. Home loans require a clean CIBIL report (700+), and active app loan defaults will hurt your approval chances. However, if app loans are cleared and you have stable income, home loan approval is achievable. We help assess your readiness.
How much home loan can I get based on my salary?
Generally, you're eligible for 50-60 times your monthly net salary. Example: ₹50,000 salary = ₹25-30 lakh loan. Adding a co-applicant's income increases this. However, existing EMIs reduce eligibility — lenders ensure total EMI stays under 50% of combined income.
Is it better to choose a longer tenure (20-30 years)?
Longer tenure reduces your EMI significantly (₹10 lakh at 8.5% = ₹8,678/month for 20 years vs ₹7,689 for 30 years). However, you pay much more total interest. The sweet spot for most borrowers is 15-20 years. You can always prepay when you have surplus funds.
What are the hidden charges in home loans?
Common charges beyond EMI include: processing fee (0.25-1%), legal/valuation charges (₹2,000-10,000), stamp duty and registration (5-8% of property value), GST on under-construction properties (5%), and insurance premium. Always budget 7-10% above property cost for these expenses.
Can I transfer my existing home loan to a lower rate?
Yes! Home loan balance transfer is common and beneficial. RBI mandates zero prepayment charges on floating-rate home loans. If your current rate is even 0.5% higher than the market best, transferring can save ₹1-5 lakhs over the remaining tenure. We compare rates from 15+ lenders to find the best deal.
Do you handle property verification and legal checks?
MudraTrust Finance provides loan facilitation services — we connect you with the best lenders and guide documentation. Property legal verification and title checks are handled by the lender's legal team. We recommend also hiring an independent property lawyer for buyer protection.