® 
Max Tenure
5 yrs
Best Rate
7.35%
Processing Fee
10,000₹*
Features
- * Upto 30 years Loan Tenure
- * No Prepayment or Foreclosure charges
- * Funding up to 90%* of the property cost
- * Customized eligibility programs
- * Accessible network & decades of experience
Pricing
- Interest rate – 7.35%
- Processing Fees – 0.25% of loan amount or Rs. 10,000/- (salaried), 0.5% of loan amount or Rs. 10,000/- (self-employed)
Documents Required
- Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
- Education Qualifications – Latest Degree
- Latest Salary-slips for 3 months or 3 years Income Tax returns for Self Employed
- Bank Account statement for last 6 months (Salary Account) or 12 months for Self Employed
Max Tenure
30 yrs
Best Rate
6.90%
Processing Fee
0%*
Features
- Best ROI in the industry
- For women beneficiaries 0.05% less than normal rate
- Speedy Sanction
- No prepayment charges
- No hidden charges
- Interest calculated on daily reducing balance
- Longer Repayment tenor
Pricing
- Interest Rate: 6.90% to 8.90%
- Processing Fee: 0
Documents Required
- ID proof(PAN card, Pass port/Voter Id/Employer ID/Driving Licence/ Aadhaar Card/MNREGA No) with 2 PP photos
- Residence proof: Latest Tel bill, Bank Statement / Elec bill / Ration Card / letter from employer)
- Certificate from employer confirming confirmation of continuous service - For Salaried Only
- A brief note on nature of business / activity / business licence in case of self-employed
- Form 16 for last 3 years
- Bank Statement / Pass book of salary or Business A/c for last 6 months
- Balance sheet and P&L Account for last 3 years - For Self Employed
- Salary Slip for last six months - for Salaried
- Income Tax returns with taxpaid challans for last 3 years - For Self Employed
Max Tenure
15 yrs
Best Rate
12%
Processing Fee
3-5%
Features
- Loan on Cash income
- Past Bureau issues also considered.
- Funding on gram panchayat , B khata , Properties under municipal limits also funded.
- Loan starts at 5 lacs.
Pricing
- Interest Rate: 12 % to 18%
- Processing Fee: 3 - 5%
Documents Required
- Identity proof such as Pan Card, Voters ID Card, Passport.
- Address proof such as electricity bill, ration card.
- Income proof documents, if available.
- Bank pass book or Bank Statements.
- Property documents, if property identified.
How to Get a Home Loans in Guwahati
In India, it is considered a matter of great pride to own a home. Owning a home is one of the top priorities of many people in India. However, buying a home is not easy, as it is expensive and not affordable for many.
A home loan is a good alternative under such a scenario, as an individual can fulfil their desires of owning a home of their choice just by paying timely EMIs. Going in for a home loan will also help the home loan borrower in getting tax deduction on the principal and interest amount of home loan as per Income Tax Act, 1961, thereby, helping save taxes on their income.
Also Read: Tax benefits on Home Loans
Home Loans in Guwahati: An Overview
Guwahati, the biggest city of the state of Assam is also the largest metropolis from the North-Eastern region. Located on the banks of the Brahmaputra River, the city is called the Gateway to the Northeast being a major cultural, political, educational, transportation, and commercial marketplace of the North-Eastern region of India.
The city is a great manufacturing hub, contributing hugely to Assam’s economy. Guwahati is also known for its tea gardens, which generate employment for a vast section of society from all over India. Guwahati is one of the highest tea-producing areas in the world.
Being such a central place, the city is always bustling with activity with people from all walks of life making it their home. The growing city has seen a rise in the cost of leaving, making the people of Guwahati realize the importance of having their own home over staying in rented accommodation. This has led various lenders in the city to come up with various types of home loans at affordable interest rates and attractive loan tenures.
Also Read: Guide to Home Loans
Top Home Loan Providers in Guwahati
- ICICI Bank
- HDFC Bank
- SBI
- LIC Housing Finance Ltd.
- Tata Capital
- Axis Bank
- Karnataka Bank
- India Bulls
- Sundaram BNP Paribas Home Ltd.
- Aditya Birla Housing Finance Ltd.
Features of Home Loans in Guwahati
Some common features and benefits of home loans provided in the city are:
- Easier home loan balance transfer helping you to switch from your current home loan lender to another that offers a better rate of interest
- Low-interest rates
- Flexible rate of interest with the option of converting your fixed rate into a flexible rate depending on the market rates available for your home loan
- Tax benefits on principal and interest amount of home loan under Section 80C and Section 24(b) of the Income Tax Act, 1961
- Insurance is available on home loans helping you and your family to repay loans in the case of any sort of unfortunate event.
- Easy and hassle-free loan processing and approval
- Minimum documentation
Also Read: Tips for First Time Home Buyers
Eligibility Criteria for Home Loans in Guwahati
Home loan eligibility features vary from lender to lender. Common eligibility requirements for home loan borrowers in Guwahati are as below.
- Salaried or self-employed individuals are eligible to apply for home loans
- Job stability and monthly income a must
- Age of applicant to be between 21 years - 65 years
- Good credit history and score is a must
- Applicants should provide clear details of their other loan liabilities
- Applicants should have proper KYC documentation
Documents required for availing Home Loans in Guwahati
Common mandatory home loan documents expected to be provided by home loan borrowers are:
- Home loan application form duly filled and signed
- Address proof like Aadhaar, Voter ID, Passport
- Identity proof like Aadhaar, PAN, Passport
- Passport size photographs of borrower or co-applicant, if any
- Proof of income – Salaried individuals should provide Form 16 or the latest salary slips, and Self-employed individuals should provide Proof of business continuity for the past 5 years
- Bank statements pertaining to the last 6 months
- Property documents like purchase agreement, own contribution proof, and related property particulars
- Processing fee through cheque or draft
Tips to get Home Loans at a Lower Rate of Interest
- Maintain a good credit score in the range of 750 and above to improve your chance of getting a home loan approved easily and at better terms
- Do offer a minimum of 20% of the home value as a down payment
- Lower your debt-to-income ratio
- Ensure that you have a stable job and income
- Compare home loan rates of different lenders
- If you have a good relationship with your bank, approach them first
- Negotiate with the lender for better terms
Also Read: Tips to get Home Loans at low-interest rates
Conclusion
Guwahati has seen a lot of development taking place leading people to come to the city for employment opportunities. As such, there is a booming demand for homes. Various lenders have set up branches in the city to help the residents deal with their home loan requirements.
FAQs – Home Loans in Guwahati
1. Does a bad credit score lead to home loan rejection?
Yes, in most cases, bad credit leads to the rejection of home loan applications of borrowers, as lenders consider such borrowers as high-risk.
2. Is there an age limit to avail of home loans?
Yes, most lenders give loans to borrowers in the age group between 21-65 years.
3. Is having a stable income an important criterion for availing of a home loan?
A stable income ensures a lender of the repaying capability of the borrower, so it is considered an important criterion for granting home loans.
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.