Apna Loan Bazaar Rating by Users


4.5 / 5 out of 1920 users


"Peaceful Loan disbursement and excellent Loan services."
- Punnam, Hydrabad
"Simple documentation, timely guidance helped me to get the desired loan amount, good support from Apna loan Bazaar."
- Pavan, Chennai
"Simple, convenient and fast services."
- Langrakar, Mumbai
"No time to roam out for home loans, team Apna Loan bazaar services are timely and accurate moves made me delight on my loan part, keep up the good work and maintain the relationship, I would suggest Apna Loan Bazaar for all your loan requirement."
- Akash Jadav, Amhedabad
"Never Imagined short time of processing of home loan through Apan Loan Bazaar."
- Bupesh Kumar Saxena, Bangalore
"Fast service, exact eligibility information, great effort of Apna Loan Bazaar made me proud House owner, i would like to thank Apna Loan Bazaar Team for a timely service."
-  Khirud Sonawal, Chennai
"Excellent loan services after loan disbursement, monthly EMI reminders and up to date loan outstanding is a really impressive thought and easy accessible of team upon requirement, wishing you all the best for future growth of Apna Loan Bazaar."
- Swapnil, TCS, Mumbai
"Timely loan service and upon follow-ups on free time and convenient approach of the team made ease of my loan disbursement."
- Amarender Reddy, Hyderabad
"I will recommend Apna Loan Bazaar for all loan requirements for its expert services on the field."
- Nidhi Gupta, Delhi
"Availed best interest rate from the bank on my personal loan application with the help of Apna Loan Bazaar, I can recommend this website for loan services."
- YHS Srinivas, Vizag
      Why Apna Loan Bazaar?
  * Multuple loan offers from different bank
    with a Single click

  * Assured  hassle  free  loan process  with
    Apna Loan Bazaar

  * Industry Best Real time eligibility

  * Dedicated Relationship  officer for each
    loan application for smooth process

  * Complete free Loan Assistance/
    guidance throughout loan tenor

  * Lowest possible rate of interest for each
    loan application with Apna Loan Bazaar

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Facts about Home Loans

The Banks/Financial Institutes takes care about the following, when you apply for a Home Loan.

A) Earnings & repayment capacity: the Banks/Financial Institutes have their own norms and hence there will be difference in the loan amounts sanctioned to you by different the Banks/Financial Institutes. The main focus of the Banks is on your repayment capacity. They analyze how comfortably you will be able to pay the EMIs throughout the tenure of the loan. This analysis is done based on the ratios like Fixed obligation to Income ratio (FOIR) and Installment to income ratio (IIR).

These ratios are expressed in percentage. FOIR includes all your fixed obligations including EMIs on your existing loans. IIR indicates the percentage of monthly home loan installment of the total income. These two ratios may vary based on actual salary details, years of experience, stability of income, professional qualification, future career growth prospects etc.

B) Property legal and technical clearance: Banks will not finance all properties. Banks look into various aspects like type of property, locality, Builder etc. They have certain type of properties and localities classified as negative. Therefore before finalizing a property one has to check whether the property is eligible for funding. Though it costs you little extra it is always better to check the legal and technical aspects before buying a property. Banks normally have loan to value (LTV) of 70-85% of value/ cost of the property considering type of property.

Apart from the above two mentioned parameters there is one additional and most important thing the Bank looks into is Credit history. Willingness to repay can be understood from ones past credit history and banking track.

Before selecting the Bank the following are the few points to be understood. All these will help you in selecting a right home loan lender for purchasing your dream home.

    1. What is the Loan amount which the Bank is willing to extend based on FOIR ?
    2. What is Loan to value of the property ?
    3. What is the EMI amount and repayment tenure allowed ?
    4. What are the prevailing Interest rates and what is offered to you ?
    5. What are the other charges involved like processing fee, administrative fees, legal & technical fee,
        prepayment penalties, stamping charges, annual maintenance charges, insurance policy etc ?


NOTE: Last but not least do not forget that any default in payment of home loan installments is more costly than your regular rent payments. Any such default will affect your Credit history badly and you have to bear high penalty for the same.

Who are Eligible for Home Loans?


Following individuals are eligible for Home loan:
    1. Salaried employees
    2. Self employed professionals
    3. Self-employed individuals
    4. Entrepreneurs and business owners


Persons should citizen of India and must be above 23 years of age to avail Home loan. The maximum Age limit should be 55 years, and applicant should be fulfill Bank/Financial Institute eligibility criteria.


Home Loan Documentation:


Identity Proof : (Anyone of the below)
    1. Passport
    2. Driving License
    3. PAN card
    4. Photo credit card (with embossed Signature and last two months statement)
    5. Banker’s sign verification

Age Proof : (Anyone of the below)
    1. PAN Card
    2. Passport
    3. Driving License
    4. School leaving certificate
    5. Voter’s card
    6. Birth Certificate
    7. LIC policy (only for age Proof)

Address Proof : (Anyone of the below)
    1. Passport
    2. Telephone bill (BSNL/MTNL)
    3. Electricity bill
    4. Title deed of property
    5. Rental agreement
    6. Driving license
    7. Election ID card
    8. Photo-credit card (with last two month statements)

Income Proof : (Anyone of the below)
    1. Latest salary slip
    2. Current dated salary Certificate with latest form 16.
    3. Latest year IT Returns with Tax Audit reports(For Self Employed applicants)

Job Continuity Proof : (Anyone of the below)
    1. Form 16
    2. Relieving letter
    3. Appointment Letter (for last two months)
    4. Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)

Banking History : (Anyone of the below)
    1. Bank statements of latest 2 months
    2. 3 months bank passbook