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Home Loan

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About Home Loan


Home Loans are an unsecured form of credit that is popular to meet immediate requirements. It is multi-purpose in nature and therefore can be used for various purposes including wedding, home renovation, travel purposes and more. Moreover, there is no restriction for the amount borrowed and can be used for any purpose they want. In fact, a Home Loan can help you build your credit faster when compared with other forms of credit. This is because of the risk it carries due to being unsecured.

Types of Home Loan


All loans are not created equal, Home Loan has become a great option for people to use.

  • Loan for Home Improvement

    There’s something that can be always done to your home and this is where an instant Home Loan can help you fulfill them. From remodelling your kitchen to making your house a perfect mix of comfort and durability, a Home Loan for home renovation can be the solution.

  • Loan for wedding

    In India, a normal wedding cost ₹25 lakhs on an average! Exhausting all your savings for all the wedding expenses is not an ideal option. This is where you apply online Home Loan and cover the expenses. Now, planning a wedding is now easy.

  • Loan for Travel

    Apart from home renovation or wedding, you can get Home Loan to cover your travel expenses. Since it is convenient and an economic option, it can be an open option. Moreover, it can alternate your uses with your credit card and help you save on interest costs.

  • Fresh Funding

    Meeting working capital requirements can be a daunting process and without raising fresh funds, the everyday operations can get affected. A Home Loan can be the best alternative option to meet your short-term working capital requirements such as cover accounts payable, wages, etc

  • Top Up Home Loan

    Top up Home Loan is a facility provided by financial institutions to customers that allows you to borrow a certain amount of money over your Home Loan. The interest rate for a top up loan is slightly higher than the regular Home Loan.

  • Home Loan Balance Transfer

    Did you know you can save thousands on your interest costs on a Home Loan? Well, that is what a balance transfer can help you with. You can pay off your existing loan with a new loan at a lower-interest rate. Please note there is a charge associated with a Home Loan balance transfer.

Benefits and Features of Home Loan


No collateral required

One of the benefits associated with an online Home Loan is that it is unsecured in nature. This means you don’t need to pledge any collateral for your loan. Although this can be a reason for your interest rate, you can get a low-interest Home Loan easily if you meet the eligibility requirements.

Minimal Documentation

In this age of digitisation, the process of verification and documentation has now become short. This is applicable for an instant Home Loan as they are fast in disbursal and require minimum documents for approval.

Easy Approval

OYou can get Home Loans that are quick and easy in approval. This is why it is the best bet in times of financial emergency. Moreover, the process has become digital; thus reducing time in the verification process.

Multipurpose in nature

A Home Loan can be used for anything except for investment and illegal activities. Apart from that, it is multipurpose in nature and can be used for anything. Other forms of credit when taken are for a specific purpose and can be used only for the same. For example, a home loan is used for purchasing a house whereas a car loan is taken to buy a car. However, a Home Loan can be taken to offset any immediate requirements.

Home Loan - Eligibility


All loans are not created equal, Home Loan has become a great option for people to use.

Home Loan Eligibility

  • Age - 18 years - 60 years
  • Employment Type -
    Salaried Self- Employed professionals
  • Credit score - 750 or above with a good credit history
  • Minimum Net Income (Monthly)
    ₹15,000(non-metro cities)
  • ₹20,000( metro cities)
  • Loan Amount - Up to ₹50 lacs depending on the credit profile
  • Work Experience -
    Salaried- Employed at current company for at least 6/12 months

For Salaried Individuals

  • Identity & Age Proof
  • Completely filled Home Loan application with photograph
  • PAN Card
  • Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
  • Bank statements for the last 3 months(preferably your salary account)
  • Salary Slips of last 3 months
  • Form 16 or Income Tax Returns of last 3 years

For Self-Employed Individuals

  • Identity & Age Proof
  • Completely filled Home Loan application with photograph
  • PAN Card
  • Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
  • Bank statements for the last 3 months your salary account
  • Salary Slips of last 3 months
  • Last 3 years Income Tax Returns with computation of Income
  • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

How To Apply For A Home Loan at Alpas Finvest?


Applying for a Home Loan involves three simple steps:

Step-1: Eligibility form

  • Full Name(As per PAN Card)
  • Email Address
  • Current Residence Pincode
  • Employment Type
  • Current Company Name
  • Monthly in-hand salary
  • Mobile Number

Step-2: Multiple offers

You will be given a list of lenders based on the information provided by you in Step-1. The offer could be one or more than one based on your profile. Out of the list, select the lender you wish to go ahead with. Please remember to consider the following points when choosing the lender:


Step-3: Apply for the loan

This step is an extended version of Step-1 where you have to give more details on your application. This is where you give a detailed information about your personal details and bank details. Once you submit your application, our representative will contact you to cross verify the details before sending the application to the respective lender.

Best Home Loans in India

S. No. Bank Name Interest rate (p.a) Loan Amount
1 Yes Bank 10.75% - 16.99% ₹1 lakh - ₹25 lakhs
2 ICICI Bank 11.50% - 16.75% ₹50k - ₹25 lakhs
3 HDFC Bank 10.99% - 20.00% ₹50k - ₹40 lakhs
4 Kotak Bank 11.00% - 24.00% ₹1 lakh - ₹30 lakhs
5 Tata Capital 11.75%-19.00% ₹75k - ₹20 lakhs
6 IndusInd Bank 11.49% - 20.00% ₹1 lakh - ₹20 lakhs
7 IDFC Bank 11.69% - 15.00% BT rates starts from 11.50%) ₹1 lakh - ₹20 lakhs
8 Bajaj Finserv 12.00% - 16.00% ₹1 lakh - ₹20 lakhs
9 IIFL 12.99% - 20.00% ₹1 lakh - ₹20 lakhs
10 Capital First 12.00% - 35.00% (Women working in Super Cat A / A & B- 10.65%) ₹1 lakh - ₹15 lakhs

Yes Bank Home Loan

Particulars Salaried Individual
Interest Rate 10.75% - 16.99%
Loan Tenure 12-60 months
Age 22 to 60 years (at the time of loan maturity)
Processing Fee Up to 2.50% of the loan amount subject to a minimum of ₹999/- plus taxes
Lock-in period 12 months
Prepayment/ Preclosure charges 13 – 24 months - 4% of principal outstanding
25 – 36 months - 3% of principal outstanding
37 – 48 months - 2% of principal outstanding
>48 Months - Nil

ICICI Home Loan

Particulars Salaried Individual
Interest Rate 11.50% - 16.75%
Loan Tenure 12-60 months
Age 23 years to 58 years (at the time of loan maturity)
Processing Fee Up to 2.25% per annum of loan amount plus GST
Lock-in period 6 months
Prepayment/ Preclosure charges Up to 5% per annum of the principal outstanding plus service tax

HDFC Home Loan

Particulars Salaried Individual
Interest Rate 10.99%-20%
Loan Tenure 12-60 months
Age 21 years - 60 years
Processing Fee Up to 2.50% of the loan amount subject to a minimum of ₹1,999/- & Maximum of ₹25000/-
Lock-in period 12 months
Prepayment/ Preclosure charges 13-24 Months - 4% of Principal Outstanding
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding
>48 months - 0%

Kotak Bank Home Loan

Particulars Salaried Individual
Interest Rate 11.00% - 24.00%
Loan Tenure 12-48 months
Age 21 years - 58 years
Processing Fee Up to 2.5% of the loan amount + GST and other applicable statutory levies
Lock-in period 12 months
Prepayment/ Preclosure charges 5% of the outstanding amount + GST on principal outstanding

Bajaj Finserv Home Loan

Particulars Salaried Individual
Interest Rate 12.00% - 16.00%
Loan Tenure 12-60 months
Age 25 years - 58 years
Processing Fee Up to 3.99% of the loan amount
Lock-in period 1 months
Prepayment/ Preclosure charges 4% plus applicable taxes on principal outstanding

IIFL Home Loan

Particulars Salaried Individual
Interest Rate 12.99% - 20.00%
Loan Tenure 12-60 months
Age 21 years - 60 years
Processing Fee Up to 2.00% of the loan amount plus GST
Lock-in period 9 months
Prepayment/ Preclosure charges Up to 4% of the Principal Outstanding
NIL after 12 Months

Home Loan EMI Calculator


When you plan to apply for a Home Loan, EMI plays the most important factor. Whether or not the EMI will fit in your monthly budget can help in deciding your Home Loan. This is where a Home Loan EMI calculator can help you. A loan calculator helps you get the following results:

Home Loan Interest Rates

Home Loan Details
Interest Rates 10.75% - 35%
Processing Fee Differs from bank to bank; generally ranges between 1-3% of the loan amount
Loan Tenure 12 months to 60 months
Loan Amount ₹15000 - ₹50 lakhs
Lock-in period Varies from lender to lender
Preclosure Charges Differs; Generally between 2%-5% of the loan outstanding
Guarantor Required Varies on different conditions

Home Loan Comparison Table

Here is a comparison table of the popular Home Loans online along with their processing fees, preclosure charges and interest rate:

BANK/NBFC Interest Rate(pa) Loan Amount Processing Fees Part Payment Pre-closure Charges Locking Period Tenure
IDFC Bank 11.69% - 15.00% (BT rates starts from 11.50%) 1Lakh to 20Lakhs Up to 2.0% of the loan amount Up to 40% of loan amount every year 3% on your principal outstanding + GST 3 months 12 to 60 months
HDFC Bank 10.99% - 20.00% 50k to 40Lakhs Up to 2.50% of the loan amount subject to a minimum of ₹1,999/- & Maximum of ₹25000/- Up to 25% of Principal Outstanding allowed 13-24 Months - 4% of Principal Outstanding

25-36 Months - 3% of Principal Outstanding

>36 Months - 2% of Principal Outstanding

>48 months - 0%
12 Months 12 to 60 months
ICICI Bank 11.50% - 16.75% 50k to 25 Lakhs Up to 2.25% per annum of loan amount plus GST Not available 5% per annum of principal outstanding plus GST 6 months 12 to 60 Months
Bajaj Fiserv 12.00% - 16.00% 1 Lakh to 20 Lakhs Up to 3.99% of the loan amount Should be more than 1 EMI (2% + applicable taxes on part-payment amount paid) 4% plus applicable taxes on principal outstanding 1 month 12 to 60 Months
Kotak Bank 11.00% - 24.00% 1Lakh to 30Lakhs Up to 2.5% of the loan amount + GST and other applicable statutory levies - 5% of the outstanding amount + GST on principal outstanding 12 months 12 to 48 Months
TATA Capital 11.75%-19.00% 75k to 20Lakhs From ₹999/- Up to 2.0% of the loan amount and applicable Service Tax Up to 25% of the principal outstanding (2% of the amount paid + GST)

*Maximum of 50% of the principal outstanding permissible
>6 months - 4% of principal outstanding

>12 months - NIL

BT - 5% of the principal outstanding
6 Months 12 to 72 Months
IndusInd Bank 11.49% - 20.00% 1Lakh to 20Lakhs Up to 2.50% of the loan amount plus tax - Salaried: 4% of the principal outstanding after repayment of 12 EMIs.

Self Employed: 4% of the principal outstanding after repayment of 6 EMIs
1 Year 12 to 60 Months
Capital First 12.00% - 35.00% 1Lakh to 15Lakhs Up to 2.0% of the loan amount and applicable Service Tax

Women working in Super Cat A / A & B- 10.65%
N/A 5% of the principal outstanding amount 1 Year 12 to 60 Months
Fullerton 17.25% - 35.00% 65k to 20Lakhs Up to 6.5% of the Loan Amount Within 7 months to 17 months - 7%
Within 18 months to 23 months - 5%
Within 24 months to 35 months - 3%
After 36 months - NIL
6 Months 12 to 60 Months
IIFL 12.99% - 20.00% 1Lakh to 20Lakhs Up to 2% of the loan amount plus GST - Up to 4% of the Principal Outstanding

>12 Months - NIL
6 Months 12 to 60 Months
RBL Bank 14.00% - 20.00% 1Lakh to 20Lakhs 1.5% of the loan amount (Non Refundable fee of Rs 7500 Upfront, Rest at the time of disbursal) NIL NIL 12 months 12 to 60 Months
Yes Bank 10.75% - 16.99% 1Lakh to 25Lakhs Up to 2.50% of the loan amount subject to a minimum of ₹999/- plus taxes • 20% Principal Outstanding for 12 – 24 months
• 20% Principle Outstanding for 25 – 36 Months
• 25% Principal Outstanding for 37 – 48 Months
• 25% Principal Outstanding for 49 – 60 Months


1% plus applicable taxes on part payment amount paid
13 – 24 months - 4% of principal outstanding
25 – 36 months - 3% of principal outstanding
37 – 48 months - 2% of principal outstanding
>48 Months - Nil
12 months 12 to 60 Months

Frequently Ask Questions


If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

A. You can get personal loans starting from Rs. 25,000 up to Rs.25 lakhs for 1 to 5 years.

A. The reason your application was rejected was because your credit profile did not match the criteria stipulated in the policy provided by the financial institution at the time. However, the institution might be able to approve your application at a later date, if by then your credit file has improved or there have been changes in the policy.

What Our Customers Say


“Very good & fast service of AlpasFinvest. Thanks for AlpasFinvest.”

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“Good staff, cooperative and explain the plan properly, amount is also disbursed within 24 hrs, after submitting proper document, I am happy with the service.”

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“Thank you for the AlpasFinvest...Very quick and prompt response from the team. The entire process took only 5 days. Chandan was very helpful!!”

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“Applied for Credit Card. Amazing services, got my card delivered within a very short period of time. Staff was really supportive and cooperative throughout the process. I would tremendously recommend IndiaLends to my friends and family.”

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Amit Gupta

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“Applied for Credit Card. Amazing services, got my card delivered within a very short period of time. Staff was really supportive and cooperative throughout the process. I would tremendously recommend Alpasfinvest.com to my friends and family”

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Vijay Kumar Sodhi

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“Thank you for the Alpasfinvest.com...Very quick and prompt response from the team. The entire process took only 5 days. Rakhi Sagar was very helpful!!”

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Kishore Kumar Mendiratta

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“Good staff, cooperative and explain the plan properly, amount is also disbursed within 24 hrs, after submitting proper document, I am happy with the service.”

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Imran Khan

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“Applied for Credit Card. Amazing services, got my card delivered within a very short period of time. Staff was really supportive and cooperative throughout the process. I would tremendously recommend AlpasFinvest to my friends and family.”

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