Home Loan

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Owning a home is one of the life’s biggest aspirations. Community Finance’s home loan is designed to offer maximum convenience and make the journey of buying a dream home hassle-free. The offering is customised to meet every customer’s varied requirements.

Features & Benefits

Higher Loan Value Against the Market Offering
The loan amount will depend on the quality of customer’s credit rating and that of the collateral. It will be higher than the market offering if the customer meets the eligibility criteria of the company.

Instant & On-the-spot Approval
No branch visits required. No waiting for days. Just some basic data and get instant provisional approval subject to completion of documentation and verification.

Dedicated Relationship
Relationship officers analyse and understand the needs and give the best suitable financial offering at every stage of life.

Loan Amount of Up to Rs. 25 Lakh
Get loan up to Rs. 25 lakh instantly for fulfilling the dream of owning a house.

Bundled Offerings

A bouquet of product offerings along with home loan for purchasing merchandise, meeting emergencies through personal loan or securing the family through life insurance.

For details about Home Loan Agreements, Terms and Conditions or have any questions, you can refer to our Home Loan FAQs or can contact us at the nearest Community Finance office.

Eligibility & Documents

Individual must be between 21-60 years* (salaried/self-employed)
*Age at the time of completion of the loan.

As an Applicant and Co-applicant one must have:

Salaried
  • Completed Application Form
  • Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
  • Proof of Residence (Ration card/ Telephone Bill/ Electricity Bill/ Rental Agreement / Passport Copy/ Bank Passbook or Statement/Driving License)
  • Proof of Age (PAN Card / Passport / Any Other Certificate from a Statutory Authority)
  • Recent Passport Size Photograph of Applicant & Co-Applicant
  • Bank Statement / Bank Passbook for last 6 months / Last 3 months’ Salary Slip
  • Form 16 / Income Tax Returns for last 3 years
  • Processing Fee Cheque
Self Employed
  • Completed Application Form
  • Proof of Identity (Passport Copy / Voter ID card / Driving License / PAN Card)
  • Proof of Residence (Ration card / Telephone Bill / Electricity Bill / Rental agreement / Passport copy / Bank Passbook or Statement / Driving License)
  • Proof of Age (PAN Card / Passport / Any Other Certificate from a Statutory Authority)
  • Recent Passport Size Photograph of Applicant & Co-Applicant
  • Proof of Business Continuity
  • Bank Statement / Bank Passbook for last 6 months
  • Statement of Profit & Loss for last 3 years
  • Balance Sheet for last 3 years
  • Income Tax Returns for last 3 years (for self and business) duly certified by a CA
  • Processing Fee Cheque

Fees & Charges

Please refer to the ‘Loan Charges’ section for detailed Fees and Charges related to our product offering (About Us → Policy → Loan Charges)

How to Apply

Applying for a Home Loan with Community Finance is quick, easy and completely hassle-free. Read on to know more about how to apply for the same:

  • Contact our relationship officer
  • Visit our nearest branch office
  • Visit the ‘Apply Online’ section in our website

Frequently Asked Questions (FAQs)

Factors considered in determining home loan eligibility are:

  • Income of all applicants
  • Age of the primary applicant
  • Number of dependents that the applicants have to support
  • Assets and liabilities of the applicants
  • Stability and continuity of the primary applicant’s occupation

One can avail of a Home Loan for any of the following purpose:

  • Purchase of a home
  • Construction of a home
  • Home repairs
  • Home improvements
  • Home extension

The loan offers competitive interest rates as against the market offerings.

It is mandatory to have a co-applicant. If someone is the co-owner of the property in question, it is necessary that he/she also be the co-applicant for the home loan. For sole owner of the property, any immediate family member can be the co-applicant.

For the List of Documents to be submitted along with your Home Loan application, please refer to the ‘Eligibility & Documents’ section.

The EMI consists of the principal amount and the interest on the principal amount. It is calculated by taking the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum. EMI may change when interest rate changes or part-payment of the loan is made. Every month, part of the EMI is adjusted towards the interest payable and the balance is adjusted towards repayment of the principal.

The EMI will be due on a fixed date each month. This date will be notified when the loan is disbursed.

Pre-EMI interest is the interest on the loan amount disbursed by the bank. It is payable every month from the date of each disbursement until the commencement of the regular or first instalment.