Home Loan is a Secured Loan. Home Finance is offered against the security of a house / property which is funded by the bank’s loan, the property could be a personal property or belonging to a firm. In this type of loan the borrower gives the banker a conditional ownership over the property i.e. if the borrower fails to pay back the loan, the banker can retrieve the lent money by selling the property.
Eligibility for home loan
- A person with stable monthly income is eligible for Business loan.
- Business Person with stable income & business.
- A partnership or a Pvt. Ltd. company.
- Professionals with stable income & business.