Who are eligible for home loans ?

Banks have specific conditions on home loan eligibility. There are multiple factors which come into effect when a customer applies for a housing loan. A housing loan is a secured product which takes customer age, employment and property into consideration. The min age for applying a housing loan is 21 years and maximum cap for salaried private sector and public sector is 58 years and for central Govt. employees it is 60 years and for self employed people it is 65 years. Customer should have a min of 2 years continuous work experience. The min annual salary or Gross Earnings should be 2.4 lacks. People who have past credit history with satisfactory repayment track will have a added advantage. Customers with card settlements and loan over dues are straightly gets rejected for a home loan. Property should have clear and marketable title with all relevant documents in original. Banks will verify all the details mentioned in the application form and issue the home loan post satisfactory verification of details mentioned in the housing loan application form.