At A Glance
- Purpose
- Purchase / Builder Purchase / Resale / Self-Construction / Direct Allotment*
- LTV
- Up to 75%–90%, depending on loan amount*
- Eligible Applicants
- Salaried / Self-Employed*
- Residential Status
- Resident Indians / NRIs*
- Eligibility
- Based on Income / FOIR / Credit Profile / Existing Obligations*
The Short Version
What Home Loan actually does for you.
A home loan helps you buy a ready flat, a flat in an under-construction project, or a plot, or build your own house. We look at your income and documents, then compare options from different Banks and NBFCs that may suit your profile. If one lender delays or does not approve your file, we can explore other lenders that may be a better fit.
What's included
- Choice of floating or fixed-rate options
- Pre-approved offers checked where your bank runs such a programme
- Balance transfer with top-up if a better rate appears later
- Home-loan-linked overdraft (offset account) to trim interest
- Joint-applicant structuring for tax breaks under 80C and 24(b)
Do you qualify?
- Resident Indian, generally 21–65 (up to around 70 for self-employed) at loan maturity
- NRIs with a stable overseas income can apply too, with a few extra documents. See the NRI section below
- Salaried with take-home income from about ₹25,000/month, or self-employed with 2–3 years of ITR
- Cash salary accepted as income proof too, not just bank-credited salary
- A CIBIL score near 700 or above may help you get a better rate; lower scores are reviewed case by case
- Salaried, self-employed professional or self-employed business owner
- If salaried, generally at least 1 year with your current employer
- Residential property: a ready or under-construction flat, a plot, or a house you plan to build
Which One Are You
Fees and other charges
Besides interest, a lender may charge a few fees. It helps to know them before you apply, so there are no surprises.
Processing fee
A percentage of the loan amount plus GST, often somewhere between about 0.5% and 1.5%. Some lenders reduce or waive it during offers.
Legal and valuation charges
A fee for the lender's legal check of the property papers and for a valuation visit. It is usually a fixed amount and depends on the lender and the property.
Stamp duty, registration and insurance
Stamp duty and registration follow your state's rules. Property or loan insurance is charged only where you take it.
Foreclosure and part-prepayment
Floating-rate loans to individuals generally carry no prepayment or foreclosure charge under RBI rules. A fixed-rate loan may charge a small percentage of the amount you prepay.
These are general guides and every lender sets its own fees. Your expert will share the exact charges in writing before you sign.
Home loans for NRIs
If you live and work abroad, you can still buy or build a home in India with a loan from an Indian Bank or NBFC. Much of the process can be done online, and a Power of Attorney lets a trusted person in India sign for you. We help you find lenders that lend to NRIs and guide you through each step.
Who counts as an NRI
Indian citizens who live and work outside India. Many lenders also accept Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI) cardholders.
What you can buy
Residential and commercial property in India. NRIs cannot buy agricultural land, plantation property or a farmhouse without special permission from the RBI.
Your income abroad
Lenders look for a stable job or business overseas, with an employment contract, salary slips and overseas bank statements. Your foreign income is converted to rupees when they assess it. The minimum income and job period differ by lender.
How you repay
EMIs are usually paid from your NRE or NRO account in India, or from funds you send from abroad. The lender will tell you which routes it accepts.
Loan amount and tenure
Lenders may fund a smaller share of the property value for NRIs than for residents, and the tenure is often a little shorter. Your expert will confirm each lender's limits for your case.
Signing from abroad
A registered Power of Attorney in favour of a trusted resident Indian can sign for you in India. It is usually attested by the Indian embassy or consulate, or notarised and apostilled as the country requires. Some lenders may ask for a short visit or a video verification.
Tax benefits
NRIs who repay a home loan may be able to claim deductions on the principal and the interest, as residents can, under the tax rules in force. Please check your own position with a CA.
A resident co-applicant
Some lenders ask for a close family member living in India as co-applicant. It can help with local follow-up and with assessing the income.
NRI questions answered
Can an NRI get a home loan in India?
Yes. Many Banks and NBFCs lend to NRIs to buy, build or renovate a home in India. Approval depends on your overseas income, how stable your job or business is, your credit history and the property.
Do I need to be in India to apply?
Not always. Most of the application can be done online or by courier, and a Power of Attorney can cover the signing in India. Some lenders may ask for a visit or a video verification.
Which documents do NRIs need?
Usually your passport and visa, your employment contract, recent salary slips, overseas and NRE/NRO bank statements, address proof abroad and in India, and the property papers. Use the NRI tab in the paperwork list above, and download the NRI checklist for the full list.
Is my foreign salary accepted as income?
Yes, usually. Lenders convert it to rupees and ask for proof such as your contract, salary slips and bank statements. Some also ask for a tax return from your country of residence.
Can I repay from my overseas account?
Most lenders collect EMIs from your NRE or NRO account in India, funded by money you send from abroad. Ask which routes your lender accepts.
Can I get a loan against a property I already own in India?
A few lenders offer it to NRIs, with extra checks on the property and your income. Tell us your case and we will tell you which lenders to approach.
NRI lending is governed by RBI and FEMA rules and each lender's own policy, and the rules can change. We share general information here. Your expert will confirm what applies to you.
Why Growth Capital Services
One conversation, many lenders to compare.
We are a loan consultant, not the lender. We help you compare options from 75+ Banks and NBFCs, prepare your documents, and follow your application through each step.
Important note: Interest rate, loan amount, tenure, charges, eligibility, approval and disbursement depend on the policy of the respective Bank or NBFC, your profile, credit assessment and the applicable terms. Growth Capital Services is a loan consultant and does not lend money itself. The details on this page are for general information.
Run the numbers
Calculators for your Home Loan
Try your own figures before you apply — nothing is saved or sent.
Step-by-step guide
Home Loan process, step by step.
Buying or building a home is simpler when you know what comes next. Here is how a home loan moves with us.
- 1
Share your plan
Tell us the property, your income and the amount you have in mind. We check what you may be eligible for.
- 2
Pick a lender
We compare offers from banks and NBFCs on rate, fees and terms, and you choose the one that suits you.
- 3
Submit documents
You hand over KYC, income proof and property papers. We prepare the file the way the lender expects.
- 4
Property check and sanction
The lender verifies the property and your profile, then issues the sanction letter.
- 5
Agreement and disbursal
You sign the loan agreement, and the lender releases the money to the seller or builder.
With GCS, your expert looks at your profile, matches it with suitable lenders, and coordinates with the banks for you. That means less confusion and more confidence when you apply.
Worth Comparing
The rest of Property Finance
So you can weigh Home Loan against everything else we arrange in this category before deciding.
Still deciding on Home Loan? Ask us directly.
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