Finnect Capital | Home Loan

Home Loan

The biggest loan you will ever take. Worth getting right.

A home loan runs for two or three decades, so a quarter of a percent is not a rounding error. On ₹50 lakh over 20 years it is roughly ₹1.7 lakh. We compare what more than fifty lenders will actually offer you, then handle the file end to end.

7.15%

Indicative rate p.a.*

30 yr

Maximum tenure

90%

Of property value*

48 hr

Typical first response

What you get

Rate, tenure and the part nobody mentions

Almost every bank now prices home loans off an external benchmark, usually the RBI repo rate, so your rate moves when the repo moves. What differs between lenders is the spread they add, and that is negotiable.

Repo-linked floating rates, when the repo falls, your rate should follow
Tenure up to 30 years, which lowers the EMI but raises total interest paid
Up to 90% of property value on smaller loans; expect 75–80% on larger ones
Balance transfer to cut the rate on a loan you already hold, plus a top-up if you need it
Part-prepayment on floating-rate loans carries no penalty for individual borrowers
Joint applications with a co-owner can raise eligibility and spread the tax benefit

Talk to an Advisor

Indicative Rate

7.15% p.a.*

Up to 30-year tenure
Repo-linked, transparent pricing
No prepayment penalty on floating rates

Is this the right loan for you?

Home loans reward patience and paperwork

They are the cheapest money most households will ever borrow, because the house itself is the security. That also means the lender underwrites the property as carefully as it underwrites you.

A good fit if

You are buying, constructing or renovating a home to live in or let out
You have steady documented income, salary slips, or two to three years of ITRs if self-employed
Your CIBIL score is around 725 or above, which is where the sharpest rates begin
You already hold a home loan at an older, higher rate and could transfer the balance
You want the tax deductions a housing loan carries under the old regime

Worth a rethink if

The property title is unclear, under litigation, or lacks completion/occupancy approvals
You need the money for something other than the property, a Loan Against Property or personal loan is the honest route
You expect to sell within two or three years, when processing costs outweigh the benefit
Your EMIs across all loans would exceed roughly half your take-home pay

What you’ll need

Documentation requirements

Have these ready and we can put a complete file in front of a lender the same week. Missing documents are the single most common reason a good application stalls.

Identity & address

PAN card
Aadhaar or passport
Recent address proof
Passport-size photographs

Income

Last 3 months’ salary slips
Form 16 and 6 months’ bank statements
Self-employed: 2–3 years’ ITR with computation
Business proof and audited financials, if applicable

Property

Sale agreement or allotment letter
Chain of title documents
Approved building plan
Latest tax receipt and, where issued, the occupancy certificate

Where we add value

Why go through an advisor rather than straight to your bank

Your own bank will quote you one number. It has no reason to tell you that a housing finance company down the road would price your profile 40 basis points cheaper.

Rate

We negotiate the spread

The benchmark is fixed by the RBI; the margin on top is set by the lender and is where the real negotiation happens.

Fit

We match file to lender

Every lender has quiet preferences, on property type, employer category, age of the building. We place your file where it will actually clear.

Follow-through

One advisor, start to finish

The same person handles valuation, legal, sanction and disbursement. You never re-explain your file to a call centre.

Questions borrowers actually ask

Home loans, answered honestly

How much can I borrow?+

Most lenders size the loan so that all your EMIs together stay under about 50–55% of net monthly income, and cap it at a percentage of the property value, up to 90% for smaller loans, typically 75–80% for larger ones. Adding an earning co-applicant is usually the quickest way to raise the number.

What tax benefit do I actually get?+

Under the old tax regime you can claim up to ₹2 lakh a year of interest on a self-occupied home under Section 24(b), and the principal portion of your EMI counts toward the ₹1.5 lakh Section 80C limit. The new regime removes most of this for a self-occupied property, though interest on a let-out property is still deductible. Sections 80EE and 80EEA are closed to new loans. Please confirm your own position with a tax adviser.

Is a fixed or floating rate better?+

Nearly all home loans in India are floating and linked to the repo rate. Fixed-rate offers are rare, usually priced higher, and often fixed for only an initial period. For a 20-year loan, floating is the norm.

Should I transfer my existing home loan?+

Only if the saving outweighs the cost. Compare the new rate against your current one, then subtract processing, legal and valuation charges. As a rough rule it is worth examining if you are more than about 50 basis points above current market and have ten or more years left to run.

Does prepaying early actually help?+

Substantially. Interest is charged on the outstanding balance, so prepayments made in the early years remove far more interest than the same amount paid later. Floating-rate home loans to individuals carry no prepayment penalty.

How long does it take?+

A complete file usually gets an in-principle response within about 48 hours. Sanction to disbursement then depends on the legal and valuation checks on the property, commonly one to three weeks, longer if the title needs work.

All rates, limits and timelines on this page are indicative, vary by lender and by your profile, and do not constitute a loan offer or a commitment to lend. Finnect Capital is an authorised Direct Selling Agent and referral partner, not a bank or NBFC. Every credit decision rests solely with the partner Bank/NBFC. Ask any lender for the Key Facts Statement (KFS) setting out the all-inclusive APR before you sign. See our DSA Disclosure.

Let us find out what you would actually be offered.

A short conversation, your documents reviewed, and a straight comparison across lenders. No obligation.