Hyderabad, the capital of Telangana was historically known as a pearl and diamond trading centre. It continues to be endearingly recognized as the City of Pearls. The traditional bazaars of the city – Laad Bazaar, Begum Bazaar and Sultan Bazaar have remained the highlights since centuries. Industrialization in Hyderabad attracted various Indian manufacturing, research and financial institutions, such as Bharat Heavy Electricals Limited, the National Geophysical Research Institute and the Centre for Cellular and Molecular Biology. Hyderabad is the fifth-largest contributor to the overall gross domestic product of India.
Hyderabad offers a wide array of tourist attractions ranging from Heritage monuments, Lakes and Parks, Gardens and Resorts, Museums. To satiate your taste buds, there’s delectable cuisine, which Hyderabad proffers. Visitors also get a delightful shopping experience apart from the outstanding panorama of the past, and amalgamated cultural and historical tradition.
Home loan in Hyderabad City
Home loan is the easiest way to gather finance for your home. You don’t need to wait any more or request others to grant you some money. Just take a home loan and borrow upto 80% of house value from the bank. The loan can be utilized to repair homes, buy a commercial property or a new house. Irrespective of the bank, the amount of loan sanctioned depends largely on your age, credit score and employment type. Even the builder and project counts for loan approval. This secured loan considers your property as a collateral and the lender has the right to take away the house if the borrower is unable to pay the loan.
Home Loan Eligibility
Generally, banks offer a loan for 70%–80% of the property value. The eligibility for buying home loan in Hyderabad depends on
- Age (21–65 years)
- Educational qualifications
- Stability and continuity of income for repayment
- Credit score ranging between 300 to 900, where 300 denotes bad credit score and 900 stands for best credit score.
- Number of dependents
- Co-applicant’s income, if any
- Assets and liability of other loans
Documentation Required for Home Loan in Hyderabad City
- Filled application form with photograph
- Processing fee by cheque or draft
Home Loan Features
- Pre-approved home loan to save your time on home loan sanctioning process and letting your dream home get sold out
- Home loan balance transfer
- Home loan insurance for helping your family member pay off your home loan in case of your unfortunate demise.
- Flexible rate to choose from fixed or floating interest rates
- Quick and transparent processing