Home Loans in Agartala is available by You can claim a home loan in Agartala from the various lenders available in this beautiful city for an interest rate starting from 8.10% p.a salaried/self-employed/self-employed professional borrowers. The loan amount you can get is up to 90% of the total property cost, starting from Rs 30 lakh, and can go above Rs 75 lakh for an extended repayment tenure of up to 30 years.
As the demand for homes is continuously increasing in Agartala, it’s high time to secure a home with affordable home loan offerings. Multiple lenders are offering different home loan schemes to fulfill your homeownership goal.
Moreover, these different schemes offered by home loan lenders in Agartala require no income documents for borrowers categorized as defense personnel, pensioners, low-income groups, NRIs/PIOs, women applicants, and other loan applicants.
Keep reading further as this post touches upon all the critical facets of availing the best home loans in Agartala.
Home Loan Options in Agartala
Availing a home loan in Agartala is the best way you can create your dream living space. Here is the table of lenders offering home loans in Agartala:
| Lender Name | Loan Tenure | Processing Fee | Loan Amount | Documents Required | Notable Features |
| LIC HFL | 5 - 30 Years | Up to 0.25%(Max Rs 25,000) | Rs 30 lakh to Rs 5 Crore | PAN Card Last two years ITR The last 6 months’ bank statements Any two of the following: Passport, Aadhar Card, Driving License, Latest Telephone/Electricity/Water Bill | No Guarantor required No part-payment and pre-closure fee Balance Transfer available Part-payment available E-Approval |
| HDFC Ltd. | 1 - 30 years | Rs 3,000 to Rs 5,000 | Rs 5 lakh to Rs 10 crore | Address Proof ID Proof KYC-PAN Income Proof Bank statement and one photograph | No Guarantor required No part-payment and pre-closure fee Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
| Axis Bank | 1 - 30 years | 0.50%(Min Rs 10,000) | Rs 5 lakh to Rs 10 crore | Address Proof ID Proof KYC-PAN Income Proof Bank statement and one photograph | No Guarantor required No part-payment and pre-closure fee on floating rate loan Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
| Aditya Birla Capital | 1 - 30 years | Up to 1.00% | Rs 20 lakh to Rs 10 crore | Address Proof ID Proof KYC-PAN Income Proof Bank statements and property documents | No Guarantor required No part-payment and pre-closure fee on floating rate loan Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
| Union Bank of India | 1 - 30 years | Up to 0.50%(Max Rs 15,000) | Rs 25 lakh onwards | Address Proof ID Proof KYC-PAN Income Proof A bank statement and a photograph | No Guarantor required No part-payment and pre-closure fee Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
| State Bank of India | 1 - 30 years | Rs 2,000 to Rs 10,000 | Based on Eligibility | Address Proof ID Proof KYC-PAN Income Proof Bank statement and one photograph | No Guarantor required Lower interest rates special offer available for women applicants No part-payment and pre-closure fee Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
| Bank of Baroda | 1 - 30 years | 0.25% - 0.50% | Rs 1 lakh to Rs 2 crore | Address Proof ID Proof KYC-PAN Income Proof Bank statement and one photograph | No Guarantor required Lower interest rates special offer available for women applicants No part-payment and pre-closure fee Balance Transfer available Top-up Loan available Part-payment available E-Approval |
| IDFC | 5 - 30 years | Rs 10,000 | Rs 30 lakh onwards | Address Proof ID Proof KYC-PAN Income Proof A bank statement and a photograph | No pre-closure and part-payment fee No guarantor required |
| PNB Housing | 1 - 30 years | Up to 0.25%(Max Rs 15,000) | Rs 8 lakh onwards | Address Proof ID Proof KYC-PAN Income Proof Bank statement and one photograph | No Guarantor required No part-payment and pre-closure fee Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
| Kotak Mahindra Bank | 1 - 20 years | Rs 10,000 | Based on Eligibility | Address Proof ID Proof KYC-PAN Income Proof Bank statement and one photograph | No Guarantor required No part-payment and pre-closure fee Balance Transfer available Top-up Loan available Part-payment available Door Step Service E-Approval |
Interest Rates for Home Loans in Agartala
You can avail of home loans in Agartala at affordable and attractive interest rates starting from 8.10% p.a. However, the interest rates vary depending on your loan amount, credit score, and employment profile.
Go through the following table to get a better understanding of home loan interest rates in Agartala:
| Category | Loan amounts of up to Rs 30 lakh | Loan amount from Rs 31 lakh to Rs 75 lakh | Loan amount above Rs 75 lakh | Women Borrowers |
| Interest Rate | 8.35% - 14.00% | 8.35% - 14.00% | 8.35% - 9.50 .00% | 8.25% - 9.50% |
Interest Rate Comparison for Different Financial Institutions in Agartala
| Lender Name | Loans Up to Rs. 30 Lakh | Loans Above Rs. 30 Lakh to Rs. 75 Lakh | Loans Above Rs. 75 Lakh |
| SBI | 8.25%-9.40% p.a. | 8.25%-9.40% p.a. | 8.25%-9.40% p.a. |
| HDFC Bank Ltd. | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Bajaj Housing Finance | 8.25%-17.00% | 8.25%-17.00% | 8.25%-17.00% |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Axis Bank | 8.75%-12.80% p.a. | 8.75%-12.80% p.a. | 8.75%-9.65% p.a. |
| Punjab National Bank | 8.30% - 10.10% p.a. | 8.15% - 10.00% p.a. | 8.15% - 10.00% p.a. |
| Kotak Mahindra Bank | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards |
| Bank of Baroda | 8.40% - 10.40% p.a. | 8.40% - 10.40% p.a. | 8.40% - 10.65% p.a. |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| LIC Housing Finance | 8.25% p.a. onwards | 8.25% p.a. onwards | 8.25% p.a. onwards |
Home Loan Eligibility in Agartala
While the home loan eligibility in Agartala varies from lender to lender depending on various factors like specific loan schemes, you can consider adhering to the following eligibility conditions for a seamless loan approval process:
- Age: If you’re 18 years and above, you can be considered a home loan applicant in Agartala. Remember, you’ll have to pay your entire loan amount by the time you are 70 years of age.
- Job Profile: If you’re an employee of govt. Institutions, private entities, and public sector companies or fall into the category of self-employed professionals like doctors, lawyers, contractors, accountants, etc., you can apply for a home loan in Agartala.
- Credit Score: A higher credit score helps you avail of a home loan at lower interest rates. A credit score of 750 and above is generally considered by banks, NBFCs, and HFCs.
- Nationality: You must be an Indian resident to get slightly preferred Agartala home loans. However, NRI, PIO, and OCI applicants also benefited from home loan schemes, due to some lenders’ offerings.
- Income: Salaried individuals with monthly income of Rs 10,000 and above and self-employed applicants with minimum annual incomes of Rs 1 lakh are generally preferred.
- Work Experience: For salaried employees, a minimum of 2 years of work experience and for self-employed borrowers, 2 years of business continuation is preferred for loan application approval.
- Relationship With the Bank: If you’re a loyal and long-time customer (for the past 10-15 years) of the bank, it will increase your chance of getting loan approval sometimes.
- Category of Your Employer: Maybe your company is grouped into X, Y, and Z categories by banks (lenders), according to your company's reputation to offer more preferable interest rates to their employees (you). This also gives you a little advantage in considering an ideal home loan applicant.
- Insurance: If you’re an existing insurance coverage customer in your chosen bank for a home loan, then you may be favored by the bank for a home loan in Agartala.
Application Tips for Home Loan in Agartala City
Here are some tips you can follow before applying for the Agartala home loan:
- First and foremost, research thoroughly on various banks offering home loans in the city to compare their interest rates.
- Now after gaining an understanding of interest rates offered by the various lenders, select a bank and type of home loan scheme from multiple options.
- For the offline process, collect a home loan application form from the nearest branch of your chosen bank. Now, submit the form (after reviewing the details carefully) with the required documents and processing fee cheque at your bank’s branch to initiate the process.
- For the online process, simply visit your selected bank’s website and download the form from there. Now, cross-check the form details carefully and submit it on the website with attaching the required documents and pay the processing fee to finish the home loan application process.
References:
Home Loan Agartala- Compare Housing Loan Interest Rate in Agartala
Home Loan Agartala - Lowest Interest Rates, EMI
Home Loan in Agartala - Home Loan Provider | iservefinancial
