Home Loan

Daily Capital

What is a Home Loan?

“Daily Capital” is a prominent finance-focused website catering to the Indian audience. Among the array of financial topics it covers, one significant area is home loans. In the context of India, a home loan refers to a financial arrangement provided by banks and financial institutions to individuals seeking assistance in purchasing or constructing a residential property. These loans typically have structured repayment plans, including both principal and interest components. Home loans play a crucial role in enabling individuals and families to realize their dream of homeownership by offering financial support and flexibility in managing the cost of acquiring a property. “Daily Capital” serves as a valuable resource for those navigating the complexities of home loans in the Indian financial landscape, providing insights, news, and expert analysis to empower its audience in making informed decisions about their real estate investments.


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Home Loan Features

Attractive Interest Rates

Attractive Interest Rates

Minimal Documentation

Minimal Documentation

30 Years of <br>Tenure

30 Years of

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Benefits of Our Home Loan

Daily Capital is committed to providing valuable insights into the world of finance, and today we delve into the numerous benefits of home loans in the Indian context. Whether you’re a first-time homebuyer or considering refinancing options, understanding the advantages of a home loan can be crucial for making informed financial decisions.

  1. Affordable Homeownership:

    • Home loans make it possible for individuals and families to achieve the dream of owning a home without the need for a substantial upfront investment.
    • Monthly mortgage payments are often more manageable than paying rent, providing a more stable and predictable housing cost.
  2. Tax Benefits:

    • Indian homeowners can avail tax benefits on both the principal and interest components of their home loan under sections 24(b) and 80C of the Income Tax Act.
    • Deductions on the principal amount and interest paid can significantly reduce the overall tax liability.
  3. Long-Term Investment:

    • Real estate has historically proven to be a sound long-term investment. The value of properties tends to appreciate over time, contributing to homeowners’ wealth.
    • Homeownership can serve as a valuable asset for future financial planning, including funding education, weddings, or retirement.
  4. Flexible Repayment Options:

    • Financial institutions in India offer various repayment options, allowing borrowers to choose a plan that aligns with their income and financial goals.
    • Options such as fixed-rate and floating-rate interest, as well as flexible tenure choices, cater to the diverse needs of homeowners.
  5. Security and Stability:

    • Owning a home provides a sense of security and stability for individuals and families. It eliminates uncertainties associated with frequent rental changes and provides a permanent place to call home.
    • Property ownership fosters a sense of belonging and stability in the community.
  6. Collateral for Future Loans:

    • A property purchased through a home loan can serve as collateral for future financing needs. This collateral can enhance the borrower’s creditworthiness and enable access to other types of loans.
  7. Rising Rental Costs Mitigated:

    • With rental costs on the rise, opting for a home loan becomes an economically sensible choice. As property values appreciate, homeowners may find themselves paying less for their mortgage than they would for renting a similar property.
  8. Government Initiatives and Subsidies:

    • Various government schemes and subsidies, such as the Pradhan Mantri Awas Yojana (PMAY), aim to make homeownership more accessible and affordable for different income groups.

Conclusion: Embracing the benefits of home loans in India can be a strategic move towards financial stability and growth. Aspiring homeowners can navigate the complex real estate landscape with confidence, knowing that a well-structured home loan can pave the way for long-term financial success. Stay tuned to Daily Capital for more insights into the dynamic world of finance.

Home Loan Eligibility Criteria

At Daily Capital, we understand the significance of owning a home, and we strive to make the dream of homeownership a reality for you. To ensure a seamless and transparent process, we have established clear eligibility criteria for our home loan applicants in India. Here are the key factors that determine your eligibility for a home loan with Daily Capital:

  1. Age Criteria:

    • Minimum Age: 21 years
    • Maximum Age: 65 years (at the time of loan maturity)
  2. Income Stability:

    • Regular source of income for salaried individuals or a steady business income for self-employed individuals.
    • A stable employment or business history.
  3. Credit Score:

    • A healthy credit score is essential for loan approval.
    • A credit score of 650 or above is preferred.
  4. Employment Type:

    • Salaried individuals should have a minimum work experience of 2 years.
    • Self-employed individuals should have a minimum of 3 years of business continuity.
  5. Maximum Loan Amount:

    • The loan amount is determined based on your income, repayment capacity, and the market value of the property.
  6. Loan-to-Value (LTV) Ratio:

    • The maximum LTV ratio is set at 80% of the property value.
  7. Property Documents:

    • Clear and marketable title of the property.
    • Up-to-date property tax receipts.
  8. Co-applicant:

    • It is advisable to include an earning family member as a co-applicant to enhance the loan amount eligibility.
  9. Legal and Technical Clearance:

    • Submission of legal and technical clearance for the property under consideration.
  10. Repayment Capacity:

    • Your debt-to-income ratio will be assessed to ensure comfortable repayment.

Remember, meeting these eligibility criteria increases your chances of approval. Our dedicated team at Daily Capital is here to guide you through the application process and provide personalized assistance. Feel free to contact us for any queries or to discuss your home loan requirements.

Documentation for Home Loan

income Proof Documents

 1. Salaried Individuals

  • Form 16
  • Employee Identity Card
  • 3 Months Salary Slip
  • 6 Month Bank Account Statement
  • Duration of Employment Evidence

2. Self-Employed Individuals

  • PAN
  • Trade Licence
  • Partnership Deed
  • Articles of Association
  • Memorandum of Association
  • Import/Export Code
  • SEBI Registration Certificate
  • ROC Registration Certificate
  • Financial Statement Audited by CA
  • Profit & Loss Account Statement
  • Balance Sheet
  • 6 Months Bank Account Statement
  • Professional Practice Licence for Doctors, Consultants, etc
  • Registration Certificate of Establishment for Shops, Factories, and Other Establishments
  • Business Address Proof

3. Documents Required from all Non-Resident Indians (NRIs) Applicants

  • Income Proof Documents for NRI
  • Property Papers
  • Property Documents
  • Sale Deed
  • Stamped Agreement of Sale
  • Allotment Letter
  • No Objection Certificate or NOC
  • Housing Society
  • Builder
  • Possession Certificate
  • Land Tax Receipt
  • Construction Cost Estimate
  • Bank Account Statement of Payment Made to Seller or Builder
  • Payment Receipt of Payment Made to Seller or Builder
  • In case of resale, a property share certificate is required
  • Occupancy Certificate


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