Religare Home Loan

Last Updated : May 28, 2021, 9:03 p.m.

About Religare Home Loan

Home loans are applied by the customers before or after selection of the property. The loan amounts are sanctioned on the basis of the principal amount in order to make the buyers informed what amounts they can avail of. This helps them decide their budgets and purchasing power. When it comes to low-income groups, people consider availing home loans on the basis of ‘trust’ and ‘convenience’ provided by the housing finance company. Keeping this in view, Religare Housing Development Finance Corporation Limited comes up in existence for disbursing home loans to low-income segments, primarily people engaged in the informal sector, across urban and semi-urban India.

Documentation for Religare Home Loan

The list of documents required to get approval for the loan and to apply for it are mentioned here:

• Application Form
• KYC Documents
• Photo ID Proof
• Residence Address Proof
• Signature proof
• Date of Birth/Age proof
• Updated Bank Statement for last 6 months
• Existing Loan details along with documentslike Sanction Letter and State of Account(SOA)

Salaried

• Salary Slip or Salary Certificate for 3 months
• Form 16 (last two years)
• Qualification Proof

Self-employed

• Professional Qualification Certificate(if any)
• Office address proof
• Last two years Income Tax Returns along with Computation of Income, Profit & Loss A/c and Balance Sheet Statement

Religare Home Loan Application Form

The best way to apply for a home loan at Religare is to visit the website and access the application form from there. What you need to do now is to take a print out of the form and mention the details correctly before submitting it. Also make sure you submit the relevant documents along with the form to the branch official. If you are not comfortable downloading the form online, you can straight away go to the branch and ask for the application form.

Religare Home Loan EMI Calculator

Use Religare Home Loan EMI Calculator to find out how much EMI you will have to pay on your loans. You need to just enter the details such as loan amount, loan tenure, and interest rate. Subsequently, EMI amount will get displayed in front of you.

Suppose if you are interested in availing a loan of Rs 25 lakhs payable after 20 years at an interest rate 13.2% per annum. The following table gives you details on your calculated EMI along with interest and the total amount that costs you against your sanctioned home loan.

Religare Home Loan Eligibility Criteria

Home loans are offered especially to salaried employees and self-employed professionals.

Religare Housing Loan Eligibility Calculator

You are just a step away from availing your Religare Home Loan. The company offers higher loan amount on your income. You can enhance your home loan eligibility by including income of the co-applicant(s) of your Home Loan.

Religare Home Loan eligibility is calculated after taking into account various factors such as monthly income, fixed monthly obligation, current age, retirement age etc. Your home loan eligibility shows your affordability towards availing Religare Home Loan.

Suppose you are working in a renowned company and earning a monthly salary of Rs. 90,000. Out of which, you prefer to save Rs. 20,000 to be used as repayment for your EMI. Normally, EMIs fall in the range of 50%-60% of your monthly intake salary for a higher loan disbursal.

So, now, if you calculate your amount, tenure, and rate of interest, you will get to know your EMIs that you will have to pay every month for repaying it against your loan amount that you are eligible for.

Amount- Rs. 100,000

Rate of Interest-13.2% p.a.

Loan Tenure-20 Years

Per Lac EMI- Rs. 1,186

Loan Amount Eligibility- Rs. 100,000 x savings/per lac EMI

– Rs. 100,000 x 20,000/1,186= Rs.16.86 lacs(approx.)

So, the expected home loan amount from Religare Home Loan amounts to Rs.16.86 lacs(approx.)

Religare Home Loan Customer Care Contact Number

If you face any difficulty regarding interest rates, tenures, loan amount or any queries relating to eligibility criteria or processing fees then contact Religare Housing Development Finance customer care representative on 1880-3000-4111 or write an email at the email address given on the website.