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At Gwalior, banks and NBFCs have no hidden costs and administrative charges while availing for home loans. No prepayment penalties are charged. Get attractive interest rates and tax benefits too. Check benefits and features now and apply through CreditMantri!
A home is a necessity for all. Yet, an expensive venture, owning a home remains the dream of many. However, now with various affordable home loans available, this dream can be easily converted into reality. Lenders now provide various types of home loans at affordable rates of interest, to eligible borrowers who have to ensure timely repayment of such loans to fulfil their need of owning a home of their choice. A home loan also gives tax benefits under the Income Tax Act, 1961, helping the borrower in getting the necessary tax deductions and savings on payment of income tax.
Also Read: Things to keep in mind while availing a Home Loan
Gwalior is a city in the State of Madhya Pradesh known for its natural beauty, rich cultural heritage, palaces and temple. Chief among them being the Sas Bahu Ka Mandir intricately carved Hindu temple, Maharaj Bada, Sun Temple, Tombs and Scindia Palace, and Gwalior fort. Tourist activity is vibrant in the city leading to continuous hustle-bustle.
As the city is endowed with natural and serene surroundings, many people have settled down in Gwalior. This has led to booming demand for real estate in the city and with the rising cost of living, people are looking for options for owning their own home in Gwalior. So, various home loan lenders like banks and NBFC’s have set up offices in the city, offering the residents many types of home loans at attractive rates of interest.
Also Read: Everything you need to know about Home Loans
Home loans differ from lender to lender
Maximum Loan Amount
Rate of Interest
7.35% to 12.00% p.a
Up to 0.50% of the loan amount
Maximum Loan Tenure
Up to 30 years
Also Read: Which one to choose – Fixed or Floating Rate?
Home loan eligibility features vary from lender to lender. Common eligibility requirements for home loan borrowers in Gwalior are as below.
Below are the common documents asked by lenders while availing home loans in Gwalior.
Address proof like Aadhaar, Voter ID, Passport
Identity proof like Aadhaar, PAN, Passport
Salaried Individual should provide
A self-employed individual should furnish
Bank statements for the last 1 year
Gwalior has seen an influx of many people from across India owing to its rich cultural background and natural landscape. This has increased the demand for home loans in the city. So, various home loan providers have come up with attractive home loan offers for the residents of the city.
1. Does credit score impact your home loan eligibility in Gwalior?
Yes, credit score impacts of chances of getting a home loan approved. A good credit score in the range of 750 and above improves of chances of getting a home loan substantially.
2. Can I avail more than one home loan at the same time?
If you have sufficient income and repaying capability to repay the loan after meeting essential expenses, then lenders will consider such cases.
3. Is stable income important for availing of a home loan?
A stable income assures a lender of a borrower’s repayment capability and creditworthiness, improving their chances of getting a home loan easily.
4. Can a lender provide a home loan exceeding 90% of the home value?
A lender cannot provide a home loan, exceeding 90% of the home value as per RBI guidelines.
5. Will an improved credit score help me to get a home loan?
If you work on improving your credit score, then your chances of getting a home loan increase considerably.
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