Home Loan


    I have read and agreed to the Terms Of Use and the Privacy Policy at OneNDF.

    What is a Home Loan?

    One of the most impactful and biggest financial decisions in a person’s life is buying your own house. Once the decision to buy the house is final; how to finance the required amount is the second step towards reaching the goal of buying a house. Amongst the anxiety and happiness; an important question to understand is – Is Home Loan a great option to fund this requirement?

    At OneNDF; we advise our Borrowers to use the following as thumb-rules while deciding to take a Home Loan – the amount you borrow should not be more than 50% of the Market value of the property & the Monthly EMI outflow should not be more than 50% of your monthly income.

    Why choose OneNDF for a Home Loan

    • Pioneers in video-conferencing & digital consultation

    • Seamless Customer Experience

    • Lending Uncomplicated

    • Disbursement Simplified

    Pioneers in video-conferencing & digital consultation.
    We are using Combinatorial technology; a unique combination of conventional & contemporary loan process. Our platform will empower you to negotiate with multiple Loan Officers in one window at one time; saving you time, efforts and most importantly MONEY. It will lead to higher productivity & transparency for all the stake-holders (Loan Officer, Consultant and the Customer).

    Lending Uncomplicated
    Through our platform; you can clear all your queries with the Loan Officers directly without having to meet them in-person. Our Omnichannel platform will safeguard critical information from being lost in transition; also saving your precious time for multiple discussions.
    At OneNDF; our Home Loan Pundits are equipped to evaluate and present to you top 5 Lending Banks / NBFCs (using our proprietary software) to evaluate from our exhaustive list of Lending Partners. It will automate you to decide which bank to go with to get the required loan product.

    Seamless Customer Experience
    Customers are our priority, and our motto is to make the entire loan process incredibly smooth by bringing clarity from the first day, for the main attributes of the loan application. You can experience our platform for complete transparency – in terms of Loan Product, Loan Amount, ROI, Processing Fee, Foreclosure Charges, Insurance and On-time Disbursement.

    Disbursement Simplified
    Our work does not end at just ensuring the file is processed in the Bank; we are with you at each step of the way. We will help you complete the entire process of Disbursement; ensuring the transaction is complete, property papers are submitted with the Bank;. In the entire process; we ensure that and the EMI debit form – NACH is dully submitted and updated with the Lender and the Bank (from where the EMI is deducted).

    Home Loan Fees & Charges

    Here are the common fees and charges levied on a Home Loan by the lenders:

    • Processing Charges

      Most lenders request a nominal fee as administration and processing charges to process your application.

    • Insurance Premium

      We recommend taking insurance for Home Loan; it safeguards your home and your family.

    • Late-payment fee

      In case a borrower is unable to pay an EMI by its due date or in the case, the cheque bounces, Banks and NBFCs will levy a penalty. The Late payment charges can vary; the borrower may end up paying up to 2% extra of the outstanding EMI amount for each default month.

    • Pre-Payment Charges

      There is no Pre-closure / Foreclosure charges in case of Individual Borrowers. Incase the Borrower / Co-Borrower is a Non-Individual (Company); the pre-closure / foreclosure charges as applicable by the Lender may apply.

    Home Loan Features and Benefits

    Borrowers can enjoy many benefits from a Home Loan.

    • Build an Asset Hassle-free

      For each type of requirement; there is a Lender. The Income, Repayment Capability and the property value and the LTV offered by the Lender are key factors in determining the final loan amount. A well-planned Home Loan can take the load off the finances; whether you are a First time Home Buyer or like to build assets; looking for a splurge on the interiors of your choice.

    • Avail Tax Benefits

      Borrowers enjoy tax benefits under different sections of Income Tax Act, 1961, on both principal amount and interest paid. -deduction of up to Rs 1.5 lakhs in one financial year, under Section 80C -deduction of up to Rs 2 lakhs on interest paid in one financial year under Section 24B These deductions are subject to change as per changes in the Act.

    • Get a Top-up Loan

      Borrowers can avail an additional loan amount, over and above their existing loan from their current lender. If you meet the loan eligibility, a Top-up or Enhancement on the existing loan is available at lower interest rates.

    • Overdraft Facility

      You can avail an Overdraft Facility on your Home Loan. This pay-as-you-use facility enables you to pay interest on the amount drawn and not the whole amount credited into your account. With the help of our Home Loan Pundit; you can get to know which Banks are offering this facility.

    • Balance Transfer Facility

      If you are not sure that the Current Rate of Interest of your loan is the best you should be getting; at OneNDF we will help you assess that and also get you the Best Rate of Interest that can be offered for a Balance Transfer. Let us bring down the monthly outflow of your EMIs; with that saving you can invest in other income generating assets.

    The key factors contributing to the Eligibility are Your annual income, monthly obligation and the assessed property value.

    Eligibility Criteria Requirement
    Age Should be 21 years at the time of application and up to 65 years (in case of salaried) / 70 years (in case of Self Employed) at the time of the maturity of the loan.
    Resident Type
    • Resident Indian
    • Non-Resident Indian
    Employment
    • Salaried
    • Self-employed
    • Self Employed Professional
    Credit score Credit Score Above 650
    Salaried Employees Self Employed Individuals
    Duly filled Application Form with Photograph of the Applicant (s) Duly filled Application Form with Photographs of the Applicant (s)
    Individual (s) KYC Individual (s) KYC / Company KYC
    Proof of Residence Proof of Residence
    Documents supporting the Income proof of an Individual. Documents supporting the Income proof of an Individual / Individual (s) / Company.
    Last 6 months Bank Statements reflecting the salary credit (and any other additional income) Last 12 months bank statement for operative account both personal and business.
    Sanction Letter and Repayment Schedule of the current Loans / Limits (If Any) Sanction Letter and Repayment Schedule of the current Loans / Limits (If Any)
    Complete chain of the said property. Proof of Business Complete chain of the said property.

    Home Loan FAQs

    An Individual / Individual (s) / company / Firm looking at buying a house and have the required income for the repayment of the Home Loan can apply for a Home Loan. At OneNDF; we help you in processing your loan keeping in mind the lending criteria of the Banks / NBFC to reduce the TAT for getting the Home Loan sanctioned.

    Yes, you get tax benefits on your Home Loan. Here are some of the benefits you can claim as per the Income Tax Act, 1961:
    ● Under Section 24: Claim deduction of up to Rs 2 lakh on interest of your EMI paid on a loan taken for purchase or construction.
    ● Though you cannot claim a deduction on your EMI for a property for an under-construction property, you can claim deduction on interest paid for up to five EMIs. This interest is known pre-construction interest.
    ● Under Section 80C you can claim deduction on the principal amount of the EMI. The cap for this is Rs 1.5 lakh per annum.
    ● Under Section 80EE, home buyers can claim up to Rs 50000 as deduction for loans of Rs 35 lakh and above, and they should not own any other home.
    Please reach out to our Home Loan Pundits to know about other deductions applicable on Stamp Duty and Joint Home Loans.

    A Home Loan repayment is done through Equated Monthly Installments. The EMIs are paid via ECS/NACH through your Bank account for the loan tenure. You must remember that each EMI pays off both the principal and interest amount of the Home Loan

    The loan amount you can avail is directly dependent on your loan eligibility. It is determined keeping in mind the following: the Income of the Borrower, Credit Score, LTV of the said property being offered and the tenure of the Loan . Our Home Loan Pundits can help you determine the maximum loan amount you can avail.

    The tenure for a Home Loan varies from 12 months to 30 years.

    The list of documents required when applying for a Home Loan will vary across Banks and NBFCs. Here is a general list:
    ● Duly Filled Loan Application with passport size photographs
    ● Identify proof / Address proof
    Income proof
    ● Bank Statements
    ● Loan sanction letters
    ● Complete chain of the said property in consideration

    The eligibility requirement for an NRI seeking a Home Loan are:
    ● They should be Non Resident Indian or Person of Indian Origin or Overseas Citizen of India (except citizens of Pakistan, Bangladesh, China, Sri Lanka, Afghanistan, Iran, Nepal or Bhutan.
    ● Minimum age is 18 years and maximum age is 60 years
    ● Our Loan Pundits can help you with the eligibility details for NRI Home Loans.

    If you are taking a Residential Plot – it can be considered as a Home Loan. Any loan taken for a Industrial / commercial plot of land is booked under LAP in Banks / NBFCs.

    The Home Loan ROI usually does not differ for buying a Residential Plot. Some Banks / NBFCs may charge a slightly higher ROI.

    The ROI on the Top-up Loan will be as per the current ROI offered by the Bank irrespective (in most cases) of the ROI at which the Home Loan may be running.

    Related Products

    Video Banker for Home Loan

    Banker

    Sanju Maji

    13+ Yrs Exp

    Product Home Loan

    Bank/NBFC HDFC Bank

    Banker

    Mohit Jain

    12+ Yrs Exp

    Product Home Loan

    Bank/NBFC Standard Chartered Bank

    Banker

    Sahil Arora

    10+ Yrs Exp

    Product Home Loan

    Bank/NBFC Tata Capital Housing Finance Limited

    Banker

    Nitin Sapra

    10+ Yrs Exp

    Product Home Loan

    Bank/NBFC Standard Chartered Bank

    Banker

    Avinash

    10+ Yrs Exp

    Product Home Loan

    Bank/NBFC Standard Chartered Bank

    Banker

    Mohit Chaturvedi

    10+ Yrs Exp

    Product Home Loan

    Bank/NBFC ICICI Bank

    Banker

    Puneet Bahri

    10+ Yrs Exp

    Product Home Loan

    Bank/NBFC Standard Chartered Bank

    Banker

    Suresh Gandhi

    8+ Yrs Exp

    Product Home Loan

    Bank/NBFC Standard Chartered

    Banker

    Vineet Bhatia

    8+ Yrs Exp

    Product Home Loan

    Bank/NBFC Axis Bank

    Banker

    Samrat

    8+ Yrs Exp

    Product Home Loan

    Bank/NBFC DBS Bank

    Banker

    Amit Rai

    8+ Yrs Exp

    Product Home Loan

    Bank/NBFC Kotak Mahindra Bank Ltd

    Banker

    Kumar Gourav

    8+ Yrs Exp

    Product Home Loan

    Bank/NBFC Indiabulls

    Banker

    Arpit Khandelwal

    6+ Yrs Exp

    Product Home Loan

    Bank/NBFC Citibank

    Banker

    Sudhanshu Gaurav

    6+ Yrs Exp

    Product Home Loan

    Bank/NBFC Deutsche Bank