FAQs (Housing Loan)
Q. Can I get an in-principle approval and
actually avail of the loan later?
A. What we do is, before you choose the house you want to buy, we give you
an in-principle approval based on your income and capacity to repay. This
makes the entire process of identifying and buying a house easier and more
flexible. You won't be under pressure to identify a house as you know how
much funds the bank would make available to you.
Q. And how long is this approval valid?
A. This in-principle approval is valid for 3 months to give you sufficient
time to choose a flat/house of your choice.
Q. How long does it take to get my loan sanctioned?
A. Your loan can get sanctioned in a matter of days provided you have all
the documents in place.
Q. Can I apply jointly with my spouse? Will both our salaries be taken into
consideration for calculating the loan amount?
A. Yes, your salaries can be clubbed for the purpose of calculation of the
loan amount. This can be done either when the property is jointly held with
the spouse or the spouse stands as a guarantor. Thus, we ensure a great deal
of flexibility in the entire exercise of financing your house.