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Home loans at banks and NBFCs in Coimbatore provide interest rates starting from 8.25% with maximum tenure of 30 years. Get transparency in fees and charges. Enjoy doorstep delivery and low EMIs. Check eligibility and apply now on CreditMantri!
Nestled in the foothills of the Nilgiri hills, Coimbatore is a beautiful city with a moderate climate. It is home to thousands of textile factories that give employment to lakhs. It is the perfect mix of tradition and contemporary. The Tamil dialect spoken here has its own fan following.
If you are planning to own a home in Coimbatore, all leading home loan lenders have a significant presence in Coimbatore. Home loans in Coimbatore are affordable. They come with competitive interest rates and various value adds that make the entire home purchase process very pleasant for the borrower.
Up to 80% of property value;
Get up to Rs.10 crores
Starts at 6.6% and goes up to 12%
Up to 30 years based on your age
Starts at about 0.4% and goes up to 2%
Starts at 6.55%
0.40% Min of Rs.10000 and a Max of Rs.30000
Starts at 6.75%
0.50%, Min Rs. 3,000
PNB Housing Finance
Starts at 7.35%
0.50%, Min Rs. 10,000
LIC Housing Finance
Starts at 6.66%
Min Rs. 10,000 to
Starts at 8.65%
Starts at 8.45%
Piramal Housing Finance
Starts at 9.00%
GIC Housing Finance
Starts at 10.25%
Min Rs. 2,500
Sundaram Home Finance
Starts at 6.95%
L&T Housing Finance
2.00% Min Rs. 4,999
Rs. 3,995 - 5,058/sq. ft.
Rs. 2,380 - 3,528/sq. ft.
Rs. 2,210 - 2,848/sq. ft.
Rs. 3,952 - 5,015/sq. ft.
Rs. 3,485 - 3,910/sq. ft.
Rs. 4,462 - 5,568/sq. ft.
Rs. 3,740 - 4,420/sq. ft.
Rs. 3,952 - 4,462/sq. ft.
Rs. 2,550 - 2,932/sq. ft.
Rs. 2,848 - 3,188/sq. ft.
Rs. 3,570 - 4,208/sq. ft.
Rs. 3,740 - 4,250/sq. ft.
Rs. 3,952 - 4,505/sq. ft.
Rs. 3,060 - 3,528/sq. ft.
Rs. 4,590 - 5,185/sq. ft.
Rs. 3,442 - 3,528/sq. ft.
Rs. 4,675 - 5,525/sq. ft.
Rs. 4,038 - 4,760/sq. ft.
Rs. 5,270 - 6,460/sq. ft.
Rs. 3,868 - 4,972/sq. ft.
Rs. 4,080 - 4,888/sq. ft.
Rs. 4,420 - 5,568/sq. ft.
Rs. 3,102 - 3,655/sq. ft.
Rs. 4,845 - 5,228/sq. ft.
Rs. 4,632 - 4,888/sq. ft.
Rs. 3,612 - 4,760/sq. ft.
Rs. 3,315 - 3,315/sq. ft.
Rs. 3,570 - 3,570/sq. ft.
Home loans to purchase a residential property
A home loan is generally availed to purchase a house or an apartment. Banks generally lend 80 to 85% of the market value of the property. They are available in a range of tenure lengths and at fixed and floating rates. This can be utilized in the purchase of new or formerly owned properties sold on the property market.
Loans for the purchase of residential plots
This loan is available to purchase empty land or land for the development or investment of residential buildings. The loan cannot be used to buy farmland. Land loans provide up to 90% of the cost in comparison to housing loans, generally offering between 80% and 85% of the property's worth.
Loans for home construction
Home construction loans can only be used to build a home on land that has already been purchased. Only for the building of a house on already held land are housing loans accessible. The land can be empty, or an existing house can be demolished and a new residence built. The loan amount normally amounts to between 85 and 90% of the building cost.
Loans for home improvement
These loans can be used to assist with home remodelling or renovation projects. They are suitable for any building or renovation project. Home improvement loans cover anything from painting to new flooring to plumbing to outside elevation work. These loans could range from Rs. 20,000 to Rs. 10 lakhs, depending on the project.
Also Read: Home Loans Vs Home Construction Loans
A credit score is an important parameter checked by lenders while processing your home loan application. A credit score is a 3-digit number ranging between 300-900, which indicates your creditworthiness to the lender.
A credit score of 700 and above is desirable for lenders to process your home loan. If your score is less than 700, you will still get the loan but with unfavourable loan terms like high interest rates and high processing charges. If your credit score is higher than 700, you can get the best interest rate and other benefits.
Here are some tips to improve your credit score before applying for a home loan.
1. What is the maximum loan amount I can get to purchase a house in Coimbatore?
Banks usually give up to 80% of the property value as home loans. You can get up to Rs.10 crores as a home loan in Coimbatore.
2. How much loan can I get if I want to construct a house?
For the construction of houses, banks usually lend up to 90% of the project cost.
3. What is the average time it takes to have a house loan approved?
Before approving a home loan, plenty of paperwork is scrutinized, which takes time. After completing all relevant paperwork, a home loan can be approved in as little as 30 days.
4. Can I repay my home loan early?
Yes. You have the option of repaying your house loan ahead of schedule, and it is highly suggested that you do so. You have the option of foreclosing the entire balance in one go or making smaller payments as and when they become available.
5. What is considered a good credit score to get a home loan in Coimbatore?
A credit score of 700 and above is considered good if you want low-interest rate and better repayment terms.
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