Surat stands 8th in terms of GDP and is a pivotal part of Gujarat, which again has the highest growth rate among all Indian states. This makes Surat a promising destination for real estate investments. In addition to the promise this city holds, it is considered to be quite stable in terms of infrastructural growth and finances.
If you are looking to move to Surat for personal or work-related reasons and are thinking of getting a place of your own, you should apply for a home loan in Surat. You can apply for a home loan from any reputed lender (bank or NBFC) in Surat. These lenders generally finance about 70-80% of the property’s price. The remaining cost of the property is to be borne by the loan applicant.
Before applying to any bank or NBFC in Surat, make sure to compare home loan schemes and interest rates of different lenders.
The common eligibility criteria for home loan applicants are:
These conditions may vary for different lending institutions in Surat. Repayment tenure generally ranges between 10 years to 30 years. Before applying to any bank or NBFC, you should check your eligibility for a home loan using an online eligibility checker tool.
Once you apply for a home loan online from a lending institution of your choice and your application gets approved, the money reaches your account in the next 3-7 days.
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.