Frequently Ask Question

There is no fixed minimum salary, but most banks prefer applicants with stable income and repayment capacity. Even individuals earning ₹25,000 to ₹40,000 per month may qualify, depending on their financial profile.

A credit score of 750 or above is generally considered good. It increases your chances of loan approval and helps you secure lower interest rates.

Yes, self-employed individuals can get home loans by providing income proof such as business financials, ITRs, and bank statements.

A fixed rate remains constant for a certain period, while a floating rate changes with market conditions. Floating rates are usually lower but may fluctuate over time.

You can claim tax deductions on both principal repayment and interest paid, which can reduce your overall tax liability.

Most floating-rate home loans do not have prepayment charges, but it is always important to check with your lender before making a decision.

A balance transfer allows you to move your existing loan to another bank offering a lower interest rate, helping you save on interest.

Missing an EMI can lead to penalties, affect your credit score, and impact your future loan eligibility. It is important to maintain timely payments.

Banks usually offer lower interest rates, while NBFCs may have more flexible eligibility criteria. The right choice depends on your financial profile.