Availing a home loan from Capital India Home loans is simple. Here is the 4-step process:

• Step 1: Submit your duly filled loan application form along with the required set of documents.
• Step 2: Your application would be appraised based on our policies and the pre-approval will be communicated to you.
• Step 3: Property related checks pertaining to the value and title of the collateral will be carried out through a Capital India Home Loans empanelled agency.
• Step 4: The loan will be disbursed on submission of original property documents along with duly signed loan agreements and other required documents.

Your home loan is repaid through Equated Monthly Instalments (EMI), which includes the principal and the interest component. EMI repayment starts from the month, after the month of final disbursement. Pre-EMI Interest is the simple interest, payable every month till the loan amount is not fully disbursed. You also have an option to start the EMI payments before the final disbursement of the home loan.

Yes, you can avail re-finance at the applicable home loan rate within 6 months from the date of property purchase.

Keeping our customer’s convenience in consideration, the EMI can be kept constant while the remaining loan tenure is adjusted. In an exceptional situations, the EMI may be changed to support the principal repayment, within a time frame.

Yes, you can prepay your home loan. For applicable loan pre-payment fees, please check your Capital India Home Loan sanction letter for the terms & conditions and schedule of charges.

You are eligible for a loan if you are an Indian citizen or a person of Indian Origin and are a salaried or self-employed professional or a businessman. Your loan eligibility will be determined by Capital India Home Loans based on but not limited to, your income, age, stability and continuity of occupation, and prior credit history. Further, your loan eligibility will also be dependent on the value of the property selected by you.

Home loans are given for purchase of a residential property and the same will be taken as the prime security for the said loan. The title of the property should be clear, marketable and free from any encumbrances.

As per the Income Tax Act, you are eligible for separate deductions on the principal and interest amount paid. Under Section 80C, for the amount of principal paid during a financial year, a maximum of INR 1.5 lakh can be claimed along with other allowable investments such as ULIPs, EPF, PPF, ELSS etc. Under Section 24, the amount of interest paid during a financial year can be claimed as deduction. You may note that the maximum loss in Section 24 is restricted to Rs. 2 lakh. The amount of stamp duty and registration is also eligible for tax deduction, subject to certain conditions.

Yes, your income and your spouse’s income can be clubbed for determining the eligible loan amount.

Yes, you can get an in-principle approval for a loan based on your income. This makes the entire process of identifying and buying a house easier and more flexible. You won’t be under pressure to identify a house as you know the amount of funds available to you.

* Your spouse.
* Any of your blood relatives (immediate family members) basis Capital India Home Loans’ norms.
* Also, the co-owner of the property under consideration has to necessarily be the co-applicant tothe loan.

An amortization schedule is a table giving the reduction of your loan amount by monthly instalments. It also gives the break-up of every EMI towards the principal and interest component.

Yes, you can get an Income Tax certificate in your name and the co-applicant’s name separately provided the co-applicant is also a co-owner in the property.

Market value refers to the estimated amount that is expected to be fetched on the property as per the prevailing market conditions.

Encumbrance on a property refers to the claims or charges on the property due to liabilities such as unpaid loans and bills. It is critical that during your home search you consider properties which are free of encumbrances of any sort.