Home loans are usually offered @ 8.30% p.a. onwards for loan amounts of up to 90% of property cost and for tenures of up to 30 years. Most Banks/HFCs offer special home loan schemes for rural housing, affordable housing and to applicants having minimum income documents. They also provide home loan balance transfer facility to existing home loan borrowers of other lenders at lower interest rates.

Eligibility Criteria of Home Loan in Bangalore
The applicant should be an Indian Resident, NRI, PIO. Some banks and HFCs also offer home loans to NRI and PIO applicants, branded as NRI Home Loan.
Minimum Age- 21 years; Maximum Age- Up to 70 years when loan matures
Job Profile: Salaried (government and corporate employees)/Self-Employed Professional (Doctors, CS, lawyers, CA, architect, consultant, engineer)/Self-Employed Non-Professional (contractor, trader, commission agent)
Work experience: At least 3 years
CIBIL/Credit score should be 750 and above for increased chances of availing home loan and at lower interest rates

Documents Required for Getting a Home Loan in Bangalore
The primary documents required to apply for a housing loan in Bangalore are:

Application form with a duly signed photograph of the applicant
Banking details
Identity proof like PAN, Aadhaar, Driving license, Passport, Voter ID
Age proof like PAN, Aadhaar, Driving license, Passport, Voter ID
Signature proof like PAN, Passport
Address proof like Aadhaar, Driving license, Passport, Voter ID
Evidence of educational qualification/ proof of business existence
last 3 months’ salary slips (for salaried person)
Last 3 years’ balance sheet, and audited P/L statement (for self-employed person)
Last 1 years’ filed ITR for salaried professionals
Relationship proof

How to Apply for a Home Loan Online in Bangalore?
Home loan application has now become a cakewalk with all online facilities. You can easily apply for home loans in Bangalore online by following these simple steps:

1. Visit Kotak Mahindra Bank’s official website

2. Enter your age and mobile number to log in

3. Go to the loan application section

4. Fill out your basic financial details on the application form to check your eligibility

5. Customize your loan amount and tenure using the EMI calculator.

6. Upload the required documents

7. Get sanctioned, provided all the details you fill in and the documents are accurate