+91 9650232300
011 35742201
Call @ 9:30am to 7.00pm
Tax Incentive: With a home equity loan, you receive an income tax deduction on the interest and principal paid. To encourage more people to buy their own homes, the Government of India provides tax deductions on the principal and interest of home loans. An individual is entitled to a deduction of up to Rs 1.5 million in a financial year under Section 80C of the Indian Income Tax Act, 1971.
Freedom from Prepayment Charges: Unlike some loans that impose penalties for early repayment, floating-rate home loans come with no prepayment penalties. It's worth noting, though, that prepayment charges may apply to floating-rate home loans.
Seamless Balance Transfer Option: Home loan borrowers enjoy the flexibility to transfer their loan to a different lender, provided the new lender offers a more attractive interest rate.
High repayment period: The home loan repayment period is the longest of all loans, up to 30 years, and by extending the repayment period, you can reduce the burden of equal monthly repayments. Use the Home Loan EMI Calculator to see how your EMI changes when you change the term of your home loan
Check out the Eligibility criteria for our Home Loan.
The eligibility criteria to apply for a Home Loan from Shivay Financial Consultants are as follows:
1. Age Requirement: Applicants should be within the age range specified by Shivay Financial Consultants, typically between 21 and 65 years.
2. Income: The applicant's monthly or annual income is a crucial factor. Shivay Financial Consultants may have a minimum income requirement for Home Loan eligibility.
3. Credit Score: A satisfactory credit score is essential. Typically, a credit score of a certain threshold, such as 750 and above, may be preferred.
4. Employment Type: The nature of employment, whether salaried or self-employed, may be considered in the eligibility criteria.
5. Collateral Security: The availability of collateral or security for the loan may be required, depending on Shivay Financial Consultants' policies.
6. Margin Requirements: The loan-to-value ratio or the margin required for the loan amount in relation to the property value may be a determining factor.
7. Assets and Liabilities: A thorough evaluation of the applicant's assets, liabilities, and overall financial stability may be considered.
8. Occupation Stability: The stability and continuity of the applicant's occupation or business may be assessed.
9. Residency Status: Shivay Financial Consultants may specify the eligibility criteria based on residency status, distinguishing between Resident Indians and non-resident Indians.
It's important for prospective borrowers to directly check with Shivay Financial Consultants or visit our official website for the most accurate and up-to-date information on Home Loan eligibility criteria. Additionally, applicants may inquire about any specific documents required during the application process and other terms and conditions associated with Home Loan approval from Shivay Financial Consultants.
The following documents are required in order to apply for a home loan from Shivay Financial Consultant:
Photo Identity Proof (Any one):
Address Proof (Any one):
Proof of Income:
For Salaried Professionals:
For Self-Employed Professionals / non-professional:
For Parntership Firm:
For Private Limited Company:
The monthly part-payment that you make to repay your Home Loan is known as an Equated Monthly Instalment (EMI). This monthly payment includes repayment of the principal amount of your loan divided over the period of the loan, with the agreed interest amount on the outstanding amount of your home loan. Shivay Financial Consultant online Home Loan EMI Calculator is essential to make an up-to-date decision to execute your Home Loan Plan at optimum levels. This EMI calculator online aids you to perform complex computing functions to calculate your Home Loan Equated Monthly Instalment accurately in an instant.
The fees and charges of Home Loan usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to Home Loan:
| Particulars | Charges |
|---|---|
| ROI | Starting at 8.90% |
| Loan Cancellation | 1% of loan amount |
| Stamp Duty Charges | Payable as per the state law |
| Penal Charges | 2% per month of unpaid EMI or Rs 300, whichever is higher |
| Loan rescheduling charges | Rs 300 |
Other fees and charges that lenders may levy on your home loan include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap.
I can't thank the loan company enough for their prompt and efficient service. From the moment I applied, the team guided me through the process seamlessly. The quick approval time exceeded my expectations, and their commitment to customer satisfaction is truly commendable.
Choosing this loan company was a game-changer for me. Their transparency in explaining terms and conditions was refreshing. The interest rates were fair, and there were no hidden fees. It's rare to find a lending partner that prioritizes honesty and integrity. I'll definitely be recommending them to friends and family.
The loan company stood out for its personalized approach. The team took the time to understand my financial needs and offered a range of flexible options tailored to my situation. The communication was excellent, and they made the entire process stress-free. I appreciate your dedication to customer satisfaction and will be a returning client in the future.
Shivay Financial Consultant provides a diverse range of loan options, including personal loans, home loans, and business loans, catering to various financial needs.
Applying for a loan with Shivay is easy. Simply visit our website, fill out the online application form, and our dedicated team will guide you through the process, ensuring a smooth and efficient experience.
Eligibility criteria may vary based on the type of loan. Generally, factors such as credit history, income, and existing financial obligations are considered. Contact our team for personalised assistance and guidance.
Shivay Financial Consultant is committed to a quick and efficient approval process. The turnaround time depends on various factors, but our goal is to provide you with a decision as promptly as possible, keeping you informed at every step.
Transparency is a core value at Shivay Financial Consultant. We believe in clear communication and have no hidden fees. All applicable charges and fees will be communicated to you upfront, ensuring complete clarity throughout your loan journey.
Most Searched Loans
Wе’rе hеrе to рrоvіdе уоu wіth fіnаnсіаl ѕоlutіоnѕ fоr аll уоur lеndіng needs.
+91 9650232300
011 35742201
Call @ 9:30am to 7.00pm
2023 Shivay Financial Consultant. All Rights Reserved
