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Learn more about home loans for women in India
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The number of women opting for a home loan in India has increased in recent years as per a report from CRIF High Mark. Lower interest rates, tax benefits, and better loan terms are some factors that have contributed to this increase. Also, builders and developers usually offer 1% - 2% lower stamp duty charges to female homebuyers. Do you wish to buy your dream home and enjoy these benefits as well? Consider purchasing the property with a home loan available on Bajaj Markets. Here is all you need to know.
Purchase the home of your dreams with a loan of up to ₹15 Crores
With interest rates starting at just 8.50% p.a., you can enjoy lower repayment costs. Some lenders may offer special discounts on interest rates for women. This makes the loan more cost-effective.
Lenders are more likely to approve home loans for women than men. This is because women usually have low default rates.
Women are usually offered longer repayment tenures which in turn leads to affordable EMIs
Usually, women get a concession of about 1% to 2% on the stamp duty charges
Here are some common criteria that you may be required to fulfil in order to be eligible for a home loan:
Your age should be between 18 and 70 years
You should be an Indian national, non-resident Indian (NRI), or person of Indian origin (PIO)
You should be either salaried or self-employed
You should have an annual income as determined by the lender
You should have a permanent residential address or live on a rental basis in the same property for at least 1 year
You should have a CIBIL Score of 750 or above
Alongside these, you may have to submit the following documents:
ID proof: Any one of the following
PAN card
Aadhaar card
Voter ID
Driving licence
Passport
Address proof: Any one of the following
Aadhaar card
Utility bills
Ration card
Passport
Income proof:
If salaried - Salary slips and bank account statements
If self-employed - Bank account statements, latest ITR filings, and business financial statements
Alongside the mentioned paperwork, you may also have to submit some property-related documents. The requirements can differ from one lender to another. Remember to check the required documents and eligibility criteria before applying.
Here are some quick and easy steps to help you apply for a home loan effortlessly on Bajaj Markets:
Click on ‘CHECK OFFER’ on this page
Provide the requested details like your name, phone number, etc.
Select the lender from the list of loan providers available
Enter your preferred tenure and loan amount
Cross-check the details and submit the application
You will be contacted by a representative who will further guide you through the process.
Yes, the home loan interest rates for women are usually lower than the regular rates. This benefit is offered by various lenders.
Stamp duty charges on a home loan for women vary depending on the region. In some states, women can also enjoy rebates on the stamp duty charges. For example, they are offered a 1% rebate in Maharashtra.
In case both husband and wife jointly own the property, they can individually claim the tax benefits.
Children, parents, siblings, and spouses can be co-applicants for a home loan for women.
A woman can borrow up to ₹15 Crores by getting a home loan on Bajaj Markets.
The processing fee of home loans for women on Bajaj Markets can range between 0.5% – 7% of the loan amount.
