It is essential to have a place, which people can call it as home. Having a home is as much a fantasy as it is a requirement; after all, it is a permanent roof for anybody. Getting a home loan from Rupee Station is quick and easy. We provide higher eligibility and less EMI at an attractive interest rate.
However, application processing online ensures faster approval of the home loan. Flexible tenures, low-interest rates, and easy repayment options are some of the advantages which allow the user to achieve financial freedom and save money in the process. The home loans which are provided by Rupee Station enable the applicant to buy a ready built-up or under construction house of their choice.
Smaller EMIs
Space out your payments and avail smaller EMIs paid over longer tenure
Loan Amount
Minimum - Rs. 3,00,000 Maximum - Depends on combined income
Prepayment Charges
Floating Rate Loan: Nil Fixed Rate Loan: 2% of outstanding principal/amount prepaid
Interest Rate Applicable
Floating Rate Loan: Nil Fixed Rate Loan: 2% of outstanding principal/amount prepaid
BASIC HOME LOAN FEATURES @ RUPEE STATION
TYPES OF HOME LOANS
Home loan is a broad concept, and there are various types of home leans which the user can get. The types of Home Loans are:
HOW TO APPLY FOR THE HOME LOAN AT RUPEE STATION?
Step1: The applicant first requires filling a form. This can be done manually by marching down to the bank, or they can fill the online application form.
Step2: The application form which is submitted is first viewed and after an application form is considered it is then approved. The bank announces the decision within a few minutes
Step3: The applicant form after getting accepted is then processed, and the money is transferred to the applicant within two working days.
HOW TO USE HOME LOAN EMI CALCULATOR AT RUPEE STATION?
Loan term
The maximum terms of the loan which is provided by Rupee Station start from 30 years and extend beyond the retirement age of 60 years. Therefore, the applicant should abide by the term loan provided by us.
Facility of balance transfer
The applicant can transfer housing loan to Rupee Station if they want to obtain the benefits of a lower home loan interest rates. The bank offers minimal documentation and active processing.
Tax benefits
If the applicant wishes to seek a home loan, then they should be aware of the fact that acquiring home loan leads the candidate with certain advantages. This means that the applicant can save money by claiming the deduction in the income tax. It can be against the principal and interest amount repaid
Prepayment
The applicant can make significant part prepayment towards the home loan at any time during the tenor. It supports to reduce the EMIs and loan tenor to assist the user in breathing stress-free!
Interest rate and charges
Rupee Station understands that the user has various money related burdens in their bag. These can be dodged because Rupee Station provides with lower interest rates and fees to their customer.
Zero foreclosure charges
If the applicant has to pay for first home loan EMI to Rupee Station, then it would let them foreclose the home loan without asking for any additional charges. Hence, the advantage of not putting up of the costs is the best benefit provided by Rupee Station
Ways of payment
The applicant can pay the home loan EMIs through the following criteria:
24/7 accessible account
If the user wishes to seek the details of their home loan at any point and anywhere then they can easily access the information on home loan via the digital portal which is available on the Rupee Station site.
The applicants who apply for home loans have to fulfill the following guidelines.
The official documentation which is required for a home loan would include:
If the applicant is a self-employed person then the applicant would need to provide the following documents with the above:
Apart from rate of interest which is charged for a home loan the applicant need to pay various other expenses that are associated with it. These charges are necessary.
Interest rate
For any applicant who wishes to seek a home loan, there are two kinds of interest rates that they can choose from. The interest rate includes fixed and variable interest rates. Selecting one of these and knowing why to decide it is a significant step that would determine the home loan repayments installments. The overall interest amount that the applicant pays towards the home loan depends on the interest rate itself.
Cibil score
Home loans are enormous financial responsibilities, and the bank always makes sure that the applicant has the required financial capability to repay the amount they are looking for. That's the reason why credit scores of loan applicants spend a considerable role in determining the home loan eligibility. Applicants with an average or a poor credit score may settle up with the rejection of their home loan application. Else they are granted with a higher rate of interest.
Terms and conditions
Every bank has their terms and condition. The level at which the applicant gets the desirable loan depends entirely on the bank's terms and conditions which they are choosing for. Many banks permit free pre-closure of home loans while there are other costs which include specific pre-payment fee. Depending on the preference, the applicant should see out all about pre-closure conditions and after that apply for the home loan with the bank of their choice.
Fine Print
The applicants before applying for the home loan should be careful about the add-on costs and disciplines. It’s not about the interest that the user pays. There are supplementary charges such as administrative and service charges or processing fees. Also, there are many penalties on pre-payment of the loan. Acknowledging these when comparing the deals awarded by various lenders would be an advantage to the lender.
Switch lenders
Getting a loan from the desired bank doesn’t indicate that the user is stuck with it forever. In farthest conditions or in a state where the user is getting a significantly better deal from another lender has the authority to change or make a switch. Many banks don't have any pre-payment discipline on floating rate loans. Hence, the processing fee is the ultimate additional cost that the user has to bear. Review and try to negotiate as well ask for a reduction, if not a full waiver.