![]() ![]() Here are few criteria a borrower needs to meet to get an SBI Home Loan: Interest Rate – The Rate of Interest is the interest charged on borrowed loan amount and is one of the components of monthly EMI along with principal repayment. Longest loan tenure available across banks and NBFC’s in India for buying a home on a loan is around 30 years, subject to borrower’s current age and retirement age. In practice, a shorter tenure results in higher EMIs, but helps you save on the total interest payout of the loan. Loan Tenure – Loan tenure is the duration over which a Home Loan is repaid. Home loan amount mainly depends on value of the property for which the loan is availed.įincity offers Home Loan for amounts as low as Rs. Loan amount – This is the amount you want to borrow to fulfil your home needs. Home Loan EMI can be calculated using an online Housing Loan Calculator which takes into account many factors like loan amount, interest rate and the tenure or duration for which you are planning to avail the loan.
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