Avail of Home Loan quick process up to INR 50 Crores
Housing Loans can be availed for various important purposes from owning the dream home to house improvement to a home extension.
99banks.in is a good, smart, and automated digital home loan lending platform to fulfill all your funding requirements and has substantially reduced the turnaround time for receiving a best interest rate housing loan Quick Process!
This is a user-friendly AI platform. A housing loan borrower or applicant just needs to apply through a simple home loan application form process to receive Quick Process from a preferred private bank lender, public sector bank or government bank and that too without visiting any bank branch. The 99banks loan online booking Platform has removed time-consuming and tedious processes of the housing loan application procedure, which results in energy & cost saving, saving of time, etc.
We at 99banks have made your housing loan experience simple, smooth, faster, and in the best way. Now you can apply for Home Loan from anywhere, anytime.
The borrower or home loan online applicant just needs to apply online for Housing Loan Quick Process on www.99banks.in loan online apply portal. Compare loan offerings with best interest and EMI tenure and receive Housing Loan Approval letter from your preferred bank lender, a government bank lender with a very best interest rate, and affordable EMI tenure.
Best interest rate starts from 8.40%*
Applying for housing loan in 99banks starts with EMIs as low as Rs. 776/Lakh*. Apply for a housing loan online with us today to ensure the best affordability in the long run.
Funding of Rs. 50 Crore*
The applying housing loan amount one can avail of remains uncapped for eligible applicants or borrowers with the best credit history and steady income, among other factors.
Housing loan EMI repayment tenure of 30 years
Leading banks and private lenders offer a flexible housing loan repayment tenure to ensure borrower's EMIs remain affordable and don’t stretch their finances too thin.
Top-up of Rs. 1.5 Crore*
When the borrower transfers the balance amount on an existing housing loan to any reputed bank or private lender through us, they can avail of a sizeable loan top-up for any other financial needs and requirements.
Housing Loan Disbursal in 72 Hours*
To ensure a hassle-free housing loan experience, 99banks strives for the shortest housing loan turnaround times. Our home loans are disbursed very shortly after verification from lenders.
Zero loan prepayment and foreclosure housing loan charges
Those borrowers with a housing loan floating rate of interest can choose to repay all or a part of their housing loan principal amount before the end of the loan EMI tenure without any additional charges.
External benchmark-linked loans
99banks loan service portal also offers housing loans with the lowest interest rates linked to external benchmarks, such as the repo rate.
Hassle-free online apply housing loan processing
99banks strives to give the best offer and the optimum experience through processing and beyond in our online housing loan apply process. Our lender banks loan approval eligibility criteria are simple and applicant documentation requirements are very minimal and easy to process.
Home loan Applicants should keep the following necessary documents on hand when filling out the online application form in 99banks:
KYC documents – the applicant can submit either their Pan Card, Driving License, Passport, Aadhaar Card, Ration Card or Voter Id Card for the same
Applicant employee ID cards
Salary certificate and pay slip for the last 3 months
Borrower bank account statements of the last 1 year. Either salary account or current account.
Property documents that are to be submitted later while the lender bank requires it
Identity Proof
Income Proof
Age Proof: PAN card, Voter ID, Aadhaar Card, Passport, Driving License
Address Proof: Latest gas bill, Aadhaar Card, Passport, Voter ID, Driving License
Banking information
Relationship Proof
Income-proof documents required
Self-employed and salaried individuals
Salary Certificate or last 6 Month pay slip. Last 3 years ITR full set
Bank account (current, savings) statements of the last 1 year
*Do note that the above list of applicant documents submitted while applying online indicates that additional documents may be required during the processing of your housing loan application.
Applicant should check CIBIL score, report and try and optimize it, so the borrower can avail of the best possible terms after applying. Make sure the applicant can repay your EMIs on time and close any other ongoing loans, where possible, that will be helpful to showcase a higher repayment capacity of the applicant.
Applicants should check housing loan eligibility and affordability with a home loan EMI calculator provided in the 99banks online loan apply portal. Applicants can check the home loan EMI amount, tenure, and rate of interest combinations to make a decision about which combination works best for their finances as per their income.
Apply for a housing loan amount that you can repay with ease and smoothly. When applicants apply for a sum beyond their eligibility, it may reduce applicants chances of housing loan approval.
Choose your housing loan tenure wisely. While a long tenure offers you. It gives smaller EMIs, applicant end up paying more in interest over the course of the longer tenure and smaller EMI amount. On the other hand, if the applicant or borrower of a home loan picks a short tenure, they become debt-free sooner, but the applicant's finances may be stretched every month. Ideally, one person should pick the best tenure between the two, wherein borrowers are able to repay EMIs easily, but confirm they are not paying too much in interest. Make the best choice in this EMI decision-making.
Borrowers should try to reduce their other obligations. When someone apply for a housing loan, one of the factors assessed to ascertain the applicant's profile and eligibility is FOIR, or Fixed Obligation to Income Ratio. This showcases borrowers repayment capacity and eligibility as a measure of how much disposable income borrower are left with after paying their monthly obligations as already in their regular expenses. Thus, it is ideal for borrowers close other loans, and financial regular commitments before applying, freeing up that much income to redirect towards the applicant housing loan EMI. Decide and plan in the very best manner to apply for housing loan online.
Step 1: Home Loan Application
For home loans, apply online through the 99banks website. You can even download a mobile application from the Play store.
Step 2: Processing Documents
Simply provide us with the necessary housing loan documents that are easy to get. All are mentioned while applying online. You can be upload documents through our mobile application.
Step 3: Housing Loan Approval
Our online loan applying portal has connected with leading banks and lenders, they immediately visit the applicant's documents and instant home loan approval is possible.
Step 4: Confirmation Letter Processing
Documents are immediately processed on housing loan approval.
Housing loans help borrowers with a lump-sum advance of funds towards buying their desired and liked property, this amount will be repayable with interest and in monthly EMI method. However borrowers can re-pay the principal amount in advance via EMIs (Equated Monthly Installments), thus enabling the borrower to approach realizing their dream home in a convenient, easiest, secured and structured way.
Housing loan online applications generally follow a process such as:
Application: Applicant will need to apply for a home loan, this can be done online through www.99banks.in website or mobile app.
Loan Sanction: Post submission of the applicant's application and send for lender bank review with necessary KYC and documents of financial stability, the lender bank shall sanction the loan amount as per the applicant's eligibility.
Review: Once the housing loan is sanctioned by the bank, the borrowers will need to submit the other documents pertaining to the home - property against which their loan is sought, for technical and legal review from the bank side.
Approval & Disbursal of housing loan: Upon validation of the applicant's loan amount and the home - property sought, the lender bank shall approve and disburse the loan amount on a full or term basis.
With the right documents submitted and prompt follow-up, the borrower could have their Home Loan Approved in 15 days through the 99banks online loan portal!
Availing of a housing loan may grant borrowers the following best tax benefits
The repayments (EMIs) towards the principal housing loan amount availed are eligible for a tax deduction up to Rs 1.5 lakh in the income of the borrower, under section 80C of the Income-Tax Act 1961. Also, Section 24(b) of the Income Tax Act 1961, gives for a deduction on the interest portion of borrowed housing loan EMIs up to Rs. 2 lakh per annum. However if the house purchased is a “let out property” i.e. is rented out. the cash deductions can apply for the entire repayment interest payable.
In additionally first-time house buyers may be eligible for further cash deductions under Section 80EE, upto Rs.50,000/- per annum after they have exhausted the limit for interest per Section 24(b)
For a home loan taken towards the re-development of a building, reconstruction or renovations of a property or home, the principal amount is eligible for tax deduction is set at Rs.30000 irrespective of it being used to stay or let out.
99banks online loan booking portal provides a selection of Housing loans designed to meet every borrower's investment patterns. In addition to advancing home loans for the construction of property, home, purchase of constructed apartments and home loans for top-ups for existing housing loans and property redevelopment etc., our partner lender banks has included options for repayment and best subsidy benefits for our registered customers.
Most of the reputed Bank and private lender's considers multiple factors to determine the housing loan eligibility of an applicant, including but not restricted to more:
The Income of all housing loan applicants
Own assets and liabilities of the applicants
Age of the primary applicant (Not considered co-applicant)
Stability and continuity of the primary applicant’s occupation
Number of dependents that the applicants financially support
No. As per Reserve Bank of India guidelines, no private lender or bank is permitted to offer 100% housing finance. Applicant needs to make a down payment amounting to 10-20% of the home or property's current purchase price. Typically, loan borrowers can obtain up to 80% home loan financing for their property.
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