Own a home is dream of every one and this dream loan knows as Home loan. Home loan is always valuable because of its long tenure repayment, cheap interest rate, and high loan amount, interest deduction in income tax, no pre payment charges and many more big benefits. Home loan is availed to own a new dream home.

Home loans criteria are very different for all banks and for all NBFC. Nationalized banks give maximum 85% of agreement. Beside Multinational banks doing up to 140-150% of agreement amount by including extra works. And NBFC goes up to 150% of agreement amount ( only in case of market value is more higher than agreement value then maximum 75% of market value). Rate of interest are differ as per bank. All banks and NBFC are working under the norms of RBI and only Home loan License holder NBFC can do home loans. Note that banks includes charges like Stamp Duty, Registration Charges, Auda, AEC etc, but not includes charge like maintenance, parking while considering the home loan amount eligibility.

Home loans are offered for small tenure to long tenure. You can avail it by your financial capacity and your age limit for 5 years to 30 years. You can also restructure your home loan by doing part payment or extra payment. Both two option are always open for your loan firstly to reconstruct you loan tenor or secondly reconstruct your EMI.

Before some year Home loan is offered by fix rate scheme or floating rate scheme. But now RBI change his norms and no bank can offer Home loan for fix rate for whole tenure. Bank can offer fix rate for first year or first three year but then after it convert in to floating rate. Floating rate is depends on base rate. So when there are any changes announced by RBI it directly affected to your home loan interest. If it is decreased then your rate is also decrease and if it is increase then it increase.

Pre payment penalty is totally reduced by RBI and it is compulsory for all banks and NBFC who are dealing in Home loan. But there is some condition applied by some banks and NBFC that if you prepay loan by your own fund then there is no penalty but if you takeover it to other financial institution then it will takes penalty of 2% to 4% depends on company’s internal policy.


Personalized Service: We only follow your profile and your requirement to well knowledge vendors who understand your profile and give you best.

Detailed Inquiry Form: We have prepared two types of inquiry form which helps you to take decision about your loan process. Our detailed application form submitted to our expert analyst and then result it within 24 hours. So you can easily know your eligibility, loan probability, and offers also.

Best Analyst – Zatpat loans has best analyst team which is highly educated, many years experienced and well knowledge of all bank policies. It helps you to platform your profile at right way.

Latest Offers – Zatpat loans updates immediately all new schemes running from all banks. So it is easy to choose best rate loan from all banks.

No consulting Charges – Zatpat loans itself and all vendors who are related to Zatpat loans do not take any consulting charges from customers.

Doorstep Services – Zatpat loans gives you doorstep services for all products from all banks. Vendor will come to you place from application to disbursement process. So it is easy to get best without investing time.

All Bank Offer At One Time – Every BANK and NBFC have different interest rate for different salary and profile. Zatpat loans give you the right platform where all bankers offer his best to particular profile. So it is for customer to select best option with best scheme.

Helpline – Zatpat loans has a customer care team and a virtual number who helps you take advice about loan and also help to increase your credit profile.

Stop Frauds – Some time customer are being part of fraud from vendors and of some executives. Zatpat loans give you surety of fraud free loans.

Interest Rates

Current Home Loan Interest Rates in India:

You have various options to get Home loan. Each bank has different interest rates different tenure and different loan amount criteria. Home loan amount and rate of interest is dependent on customers profile like working company, take home salary, Average bank balance, designation, Cibil score etc. Every banks give Home loan on bases Net salary and for businessmen on bases of last 3 years of It Returns.

Balance Transfer Scheme:

If you want to release your current burden of high interest rate or don’t want to take multiple EMI burden for new loan and also required best rate compare to your older loan than Balance transfer scheme is the right option for you. Some banks are giving best scheme for balance transfer like they are offer 8.35% to 8.5% interest rate and nill processing fees. They also offer top up amount by this way you can get new loan and keep only EMI from same bank even though you have get new funds.

Special Scheme:

If you are working with some reputed and super cat A company then always ask if there is any special scheme are live or not. Most of the banks are every month announce new scheme for super cat A companies or for reputed big companies or for some Higher designation employee. So when you get right scheme it is better to take immediate apply and choose the right bank.

Prepayment Condition and Charges:

Whenever you go for home loan firstly get detail about pre closer charges. As per RBI every bank has withdraw pre payment charges for Home loan only. But beside there is a hidden condition that if you going for Balance Transfer then some of banks are taking for closer charges. There are various offers in market who offers normal loans and with facility of pre payment with nil charges. You should have to decide first your purpose of your loan, your repayment capacity, your saving planning, your extra income like incentive and then after you have to decide that are you able to do pre payment before the tenure or not. If first you clear your perfect concept of loan then you can do best deal.

Difference between Flat Rate and Reducing Rate:

Major customer does not understand what is difference between flat interest rate and reducing interest rate? There is only calculation difference between flat interest rate and reducing interest rate. If you go for the flat rate then reducing will be Flat rate * 1.75 Example if your flat rate is 10% yearly then your reducing will come 10% * 1.75 = 17.5% reducing yearly. Both are same but some people misguide customer with flat and reducing interest rate.

Eligibility Criteria

There are some different criteria for Home loan. It is different for both profile salaried and businessman. Most of Bank is generally follows below criteria for Home loan.

For Salaried:

  • Applicant should be Indian Citizens
  • Applicant must be Minimum age required is 21 years and Maximum 55 years.
  • Applicant must be working in current companies from last 6 months and 3 years overall but if customer is working with cat A company then stability is not necessary.
  • Customer is must having a salary account.
  • If customer is highly educated or working with super Cat A companies then some banks will give loan him even if it is his first job or 3rd salary.
  • If customer is working with Super Cat A company then Minimum take home salary required – Rs.12, 000/- and above per month. If customer is working with Cat A or any listed company in bank’s approved list then Minimum take home salary required – Rs.15, 000/- and above per month. If customer is working with any small Pvt. Ltd company or with government sector then Minimum take home salary required – Rs.20, 000/- and above per month.
  • Residence-either Owned, rented or company provided.
  • Mobile postpaid is mandatory for only some of banks.

For Self Employed:

  • Minimum 4 Years old business required
  • Minimum turnover is required more than 5 lacks
  • 1 year old current account required. Loan amount calculation is as per DSTR calculator
  • Loan amount is depends on average IT Return of last two years.
  • Business registration must require just like Shop Establishment, VAT, CST, GST Turnover and IT Return must be increased rather than last year.
  • No EMI Bounce allowed in last 3 Month and 1 allowed in last 6 Month
  • Inward cheque return should not be more than 2% of total Transaction.
  • Banking should not be deep more than 30% of Total Turnover



1) 3 Month Salary slip Latest
2) 6 Month salary Bank account
3) Company Appointment Letter
4) Last two year form no. 16
5) 3 Years old Job proof ( Old appointment letter, Form no. 16, Reliving letter)
6) Pan card copy and Aadhar card copy (Applicant + Co- Applicant)
7) Resident light bill latest
8) Rent Agreement (If Rented)
9) If any loan live then welcome letter of all
10) 1 Passport size photo (Applicant + Co- Applicant)
11) Visiting card
12) Office I-card
13) 1 login Cheque (Not more than 5900/-) in Favor of Bank name which will be
deducted in processing fees
14) Banakhat copy or Draft sale deed or Booking letter
15) Property Master file copy

Property Document list

1) Builder agreement
2) Society registration permission letter
3) Society registration certificate
4) Unit plan and Layout Plan
5) N.A Permission
6) Permission of construction
7) Allotment letter
8) Possession letter
9) Payment receipts
10) Share certificate
11) Agreement with builder
12) Village no. 6
13) Village no. 7 x 12



1) 3 years ITR with profit and loss amount, balance sheet and statement of
income (audit report if audited)
2) 12 months current account statement (All account mentioned in Audit report
and IT return)
3) 12 months saving bank account
4) Office and resident latest light bill and telephone bill and Municipal tax bill
(Rent agreement if rented)
5) Pan card copy and Aadhar card copy
6) welcome latter of all current live loans
7) 2 photographs passport size
8) 5 years old business continuity proof (Gumasta/Vat/Excise/Cst/Gst/SSI)
9) Current year provision P&L and balance sheet
10) Vat return & GST return of current year
11) 1 login Cheque (Not more than 5900/-) in Favor of Bank name which will be
deducted in processing fees
12) Banakhat copy or Draft sale deed or Booking letter
13) Property Master file copy

Property Document list

1) Builder agreement
2) Society registration permission letter
3) Society registration certificate
4) Unit plan and Layout Plan
5) N.A Permission
6) Permission of construction
7) Allotment letter
8) Possession letter
9) Payment receipts
10) Share certificate
11) Agreement with builder
12) Village no. 6
13) Village no. 7 x 12


Home loan process is divided in 5 steps. By following all 5 steps you will get best loan as per your requirement. If there is any problem with your loan then your application will stop on related stages and its shows current status. Every stage result you that its stop or in process. Understand clearly all the stages so it is easy to take Home loan.

Stage 1: Enquiry – Take Advise – Compare – Select

When you have choose this platform to compare all banks and financers then always try to attend all calls and talk with all financers. Do not irritate by lots of call but share your choice, your demand, your purpose, loan amount, profile with every bank and NBFC. Its helps you to take decision about your loan and helps you to choose right option. If you have any negative points then also share it with consultants so they will show you the right way. It is better to choose option who suite to your profile and advised by majority consultants.

Stage 2: Documents Sumiton – Application Form – Apply

Firstly choosing right option prepare all required documents and once verify with your Vendor and if there is some documents pending arrange it on priority bases. Verify that all documents are enough as per bank policy or not. Sign application form properly.

Stage 3: Application alert – Query – CIBIL

When you submit your application completely to the bank then you will get one SMS with application number from respective bank. You can follow your status by this application number online. Major Banks does not login if there is any query in your application so try to complete your document. After login please ask your lender about CIBIL and query. If there is any problem with your CIBIL your application will reject with this stage. If there is any doubt query in CIBIL your application will hold for query. If there is no query then your application will move for next stage of verification.

Stage 4: Verification – Home Discussion

After completing 3rd stage your application moves to verification stage. Verification agencies representative will visit your office and resident and collect detail respecting you and submit it to bank. Besides Some bank Credit offices do telephonic Home discussion about your application and some bank credit officers Homely visit you for Home discussion. They try to know your profile, your attitude, your loan purpose, your credit history, your financially stability etc. After getting Home discussion if credit manager feel any doubt then he will reject your loan or ask for query. If he satisfied with profile then your application will move to final stage.

Stage 5: Loan approved – Sanction offer – Agreement – Disbursement

After cleared all above four stages your application will moved for approval and meanwhile you will get approval from bank. After getting approval customer has to do agreement with bank and submit security deposit cheque in favor of bank name. Once your agreement completely submitted to bank then within 48 hours you will get RTGS in your account of DD from respected banks.

Best Tips

If you are going for home loan please follow best tips from Zatpat loans advisor.

  1. Always get quotation from multiple vendors and multiple banks then analyst it and select what is best
  2. Always try to hear all vendors particularly so from that you can something new which you don’t know
  3. Don’t hide your negative points from vendors because it helps you provide right option
  4. Discuss your all credit history with vendors so it is give you perfect results without rejection
  5. Don’t make rude attitude to vendors because it makes your relation temporary and not profitable to you.
  6. Always prepare your all documentation and also security cheques before you apply for home loan. It saves your time.
  7. Be in touch with your vendors till you get particular status about your loan application
  8. Follow Application number on bank’s website. It will keep you in track.
  9. Ask all expenses of Home loan first.
  10. Verify with you vendor that register Mortgage is compulsory of not. Always choose option which does not include register Mortgage because it saves your expenses.
  11. 11) Verify with your vendor that Loan protector insurance, property insurance, and Life insurance policy is compulsory or not. Because all banks are doing cross sale for insurance policy as per their internal policy
  12. It is always better to go with project approved banks or NBFC. You will not get any property related document problem if project are pre approved by bank.