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Home Loan Application

Home Loan Online Application - Features & Benefits

Last Updated 18th Apr 2021


  • Home loan interest rate starting @ 6.65 %.
  • Special discount on home loan rates for women borrowers.
  • Lowest EMI per lakh of ₹ 642 for 30 years.
  • Get upto 90% funding of total cost of the home.
  • Nil prepayment charges on floating rate home loans.
  • Top up and overdraft facility available on house loan.
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Home Loan Application Form

Buying a house is a dream come true. The comfort and security of living in ones owned house is unparalleled. However, purchasing a house can be unaffordable, given the whooping property price rises in the last decade or so. What has come in handy today to own a home is easy availability of home loans at affordable interest rates. A house loan or home loan simply means you borrow a sum of money from a bank or financial institution to purchase or construct a house against the mortgage of your home. The repayment can be done in affordable EMIs to be paid regularly over the loan tenure which can range from 1 to 30 years depending on the borrower’s eligibility.

How to apply for a home loan through MyLoanCare.in?

Here are the simple steps through which you can apply for a home loan :

  • Step 1: Visit MyLoanCare.in or download the app to check and compare loan offers from top banks and NBFC in India.
  • Step 2: To apply for a home loan, fill in your personal and loan requirement details.
  • Step 3: Once you fill the form, you can check and select the loan offers that are best suited for you in terms of interest rates, processing fees and eligibility.
  • Step 4: Post this, a MyLoanCare representative from home loan department will contact you to verify your eligibility and discuss your loan requirements. Based on the discussion, he/she will suggest the right banks and loan offers to you and also explain the complete home loan process and documents required.
  • Step 5: If you are eligible and interested, our representative will fix an appointment with the bank for document pick-up and further loan process. A bank's representative will contact you and will initiate a verification process.
  • Step 6: After verification of your income and property documents and based on your credit history and eligibility, the bank will decide to sanction or reject your loan. If sanctioned, you will receive a sanction letter from the bank mentioning the key loan terms including interest rate, processing fees, tenure, prepayment charges.
  • Step 7: Once you receive the sanction letter, the legal process of registering the loan agreement as well hand over the original property documents to the bank will be completed. Post this, the sanctioned loan amount will be disbursed to your bank account. Before you apply for a home loan, make sure to check your eligibility to ascertain the right loan amount and tenure based on the amount of monthly EMIs you can service based on your current income You can use the online eligibility calculator at our website for detailed information and then apply for the loan.

FAQs

How to fill the home loan application form?

You can fill the home loan application, either online or offline. In online methods, you can choose to fill the form on the website of a bank or a loan marketplace platform. Alternatively, you can visit the home loan branch of the bank and fill the form there.

What are the documents required for a housing loan?

The common documents required for both salaried and self-employed are: Identity proof, address proof, property sale deed, property transfer document/ownership document, bank statement of last 6 months. In case of salaried, salary slip of last 6 months is also required. While in the case of self-employed, last 2 years ITR and financial statements are needed along with business registration certificate and business address proof.

Is a co-applicant necessary for a home loan?

Having a co-applicant is not necessary for a home loan. However, adding a co-applicant who is also earning income can significantly raise the amount for which you are eligible.

Why MyLoanCare???

Nowadays, almost all banks offer attractive schemes on Home Loan at competitive rates with many customer friendly features. You can do rates comparison, check your eligibility, calculate EMI, apply online and get the best Home Loan rates. MyLoanCare helps you throughout the loan process from the day you apply to the time you get disbursement. You can register with us, track your loan status on a regular basis and get an option to earn attractive cashbacks and refer and earn benefits.

Home Loan News - Apr 2021
  • 2021-04-16 : Piramal Retail Finance enters consumer & used car finance
    Piramal Retail Finance, a business entity under Piramal Capital and Housing Finance Ltd is planning on diversifying its loan portfolio and serve the customers. It is planning on entering the Consumer and User Car loan segment.
  • 2021-04-13 : Bank credit rise 5.56%; deposits 11.4% in FY21
    RBI reported that the Bank credit which includes retail loans like home, personal, business, car, two-wheeler, education and doctor loan along with business and mudra loans grew 5.56% to Rs 109.51 lakh crore in the financial year ending March 31, 2021. Further, the deposits include fixed and recurring deposits and rose 11.4% to Rs 151.13 lakh crore.
  • 2021-04-13 : Housing finance companies likely to witness a growth of 8-10% in FY22
    ICRA reported that with the increase in housing loan demand in the last quarter the HFCs are likely to witness a growth rate of 6%-8% during the year and 8%-10% in FY2021-22.
  • 2021-04-13 : Kotak Mahindra Bank kept its home loan rate unchanged at 6.65%
    Even as some of the banks have hiked their home loan interest rate, Kotak Mahindra Bank has kept the home loan rate unchanged at 6.65%. The interest rate is applicable for both the home loan and balance transfer product. The bank is aiming to increase its share in the housing loan market.
  • 2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
    Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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