Home Loan in Coimbatore

Coimbatore is one of the fastest-growing cities in India and a major textile and auto manufacturing hub. If you are planning to buy your new house in Coimbatore, you can easily avail a house loan in Coimbatore from Bajaj MARKETS at really affordable interest rates starting from just 6.99% per annum. The application process is seamless and hassle-free and can be completed online with minimal documentation. What’s more? You can also get a balance top-up in case you need more money than the borrowed amount.

Comparison of Home Loan Interest Rates Offered by Various Banks & HFCs in Coimbatore

Below is a list of the current housing loan interest rates and charges for all leading banks and Housing Finance Companies (HFCs) in Coimbatore:

Disclaimer: The rates mentioned above are subject to change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenor, age, monthly income, and CIBIL score.

Features and Benefits of Home Loans in Coimbatore

Some of the salient features and benefits of a Housing Loan availed through Bajaj MARKETS are:

• Interest rates for home loans in Coimbatore start from just 6.99% per annum

• Repayment tenure can go up to 30 years

• You can avail up to 90% of the property value as a home loan

• Balance transfer facilities are available if you want to take advantage of lower interest rates offered by other lenders

• You can also avail a top-up of up to ₹1 Crore on your existing home loan

• You can prepay a part of your home loan or the entire outstanding balance with zero extra charges if the loan was availed at a floating interest rate

Top Home Loan Providers in Coimbatore

The following table lists down some of the top home loan providers in Coimbatore along with their addresses and contact information.

What is the Eligibility Criteria for a Home Loan in Coimbatore

To get a home loan in Coimbatore, you must satisfy the below-mentioned eligibility criteria:

Documents Required for a Home Loan in Coimbatore

For Salaried Professionals

• KYC Documents: Passport, PAN card, voter’s ID, driving licence, Aadhaar card

• Income Proof: Last 3 months’ salary slips or a copy of the latest Form-16

• Property documents like the sale deed and occupancy certificate

For Self-Employed Professionals

• KYC Documents: Aadhaar card, Voter’s ID, passport, PAN card, driving licence

• Income Proof: Income Tax Returns of the past 3 years

• Balance sheet and Profit and Loss account statements of the business for the past 3 years

• Savings’ account statements for the past 3 years and the current account statement of the corporate entity

• Latest copy of the Form-26AS

3 Best Locations to Buy a Property in Coimbatore

• Singanallur: It is one of the posh localities in Coimbatore. Singanallur is located in close proximity to Coimbatore airport and is home to some of the best restaurants in the city. Moreover, there are also many reputed schools and shopping complexes in Singanallur.

• Gandhipuram: The locality is in close proximity to some major IT companies. The presence of some of the best restaurants and shopping malls as well as premium educational institutions and hospitals make Gandhipuram one of the best residential localities in Coimbatore.

• Trichy Road: Located near the Coimbatore airport, Trichy Road is known as one of the most luxurious localities in the city. From shopping malls to premier educational institutes and hospitals, you will find all the amenities in the neighbourhood. Given the amenities and facilities, the housing prices are quite high in the region.

Things to Consider While Buying a House in Coimbatore

• Location: It is one of the most important aspects to consider before making any real estate investment. The location of your property not only determines its present value but also affects the future prospects of value inflation.

• Builder’s Reputation: Before you finalise the deal, you must make sure that the builder has a good reputation in the market. Not only does it reduce the chances of fraud, reputed builders also use good quality material for construction and the floor planning is also better.

• Choose a House With Clear Titles: Check the sale deed and ensure that the layout of the property is approved by the authorised local body. Also, check if the builder has a commencement certificate if you are investing in an under-construction apartment.

• Negotiate for a Better Price: Builders often quote an inflated price. It, therefore, becomes important to bargain so that you may get the best deal possible.

Government Housing Projects in Coimbatore

There are many housing projects of the Central government and the Government of Tamil Nadu that you can benefit from in Coimbatore. Some of the government housing projects in Coimbatore are:

• Pradhan Mantri Awas Yojana Urban

• Tamil Nadu Housing Board Scheme

Other Top Home Loan Cities