About Home Loan
A house door with your name on it is the ultimate dream of any living being. In India, owning your own house is considered as one of the major signs of success. As the average income ratio of Indians is increasing with of globalization and government pay commissions, the desire to buy own house increasing simultaneously. Along with them the price of property is increasing day by day, irrespective of urban and rural areas. Thus it becomes highly impossible for a common man to buy a house only with his or her savings. This has lead to an increase and extreme popularity in purchasing home loans from banks and NBFCs to live in a dream. Home loans are the highest selling banking product. It also assures a stronger and longer relationship with your bank. A home loan which is also known as housing loan refers to an amount borrowed by consumer/s from a bank or NBFC to buy, construct, repair or renovate a residential property. This borrowed amount or loan is lent on a fixed or flexible tenure and an interest rate on the borrowed amount. The borrower/s are supposed to pay off the principal amount of loan with the interest in the given tenure
Why should you take a Home Loan?
Nationwide increase in property rate
The increase in the property rate across the nation (both land and building) has made it impossible for people to buy a home by only using their existing savings. There are many hidden charges and processing fees in the process of buying a house. Instead of buying a house by spending every penny of your savings and living in constant pressure of being financially unsecured, go in for a home loan.
You get tax benefits
Under section 24 of the Income Tax Act, home loans are eligible for tax exemptions. You can claim up to Rs. 1.5 lakhs out of the interest component of your home loan. Also, if you are staying in the house you got loan for, then you can claim exemption on the principal amount of home loan of up to Rs. 1,00,000. So avail these benefits today!
Large scale financial transactions
Buying a property involves large scale financial transactions. At the time of buying a property, a buyer does not necessarily have the entire amount to his/her disposal. Here home loan covers the financial gap and helps you with a smooth financial transaction. Home loans serve as a convenient mode of finance for home buying. Avoid large scale financial transactions and get a home loan today!
You don’t have to spend all your savings
When banks give away home loans, they finance you up to 85%-90% of the original house purchase price. The borrowers are supposed to pay only 10%-15% of remaining amount. This helps to loosen the financial burden on your shoulders. This way you don’t have to spend all your savings purchasing a house. Contact us to avail a home loan soon!
What are the Types of Home Loan?
Home Purchase Loans
Obvious to the name, this type of loan is given to the borrower specifically to buy a home. Be it a flat or a bungalow, all banks and NBFCs offer home purchase loan. This is the most popular type of loan and highest number of consumers opts for this type of loan.
Home purchase loans are usually repaid over a designated point of time and are issued with some sort of fixed or variable interest rate. With their easy availability and low interest rates, home purchase loans are popular amongst the crowd. They are not only easily available, but also require less documentation. Moreover, they are very handy and beneficial to the users. Home purchase loans are specially structured for the security and comfort of the borrowers' finances.
Home Loan to Purchase a Piece of Land
Consumers who want to live in a self-build house, need a piece of land or property to do so. People also buy a land with an intention of sheer investment. To buy such a land in your name costs a fortune. But this type of loan is not necessarily offered by all banks or NBFCs. You can get this type of loan only if you are purchasing a vacant plot. The term, the interest rate and procedure for this type of loan is similar to basic home purchase loan. It is also designed to suit the borrower's convenience and wish to purchase a piece of land. We, at RS, have special offers and deals to assist you with home loan to purchase a piece of land. You can contact us to avail this loan conveniently.
Home Loan for Construction
Many consumers prefer building their own house instead of purchasing a builder given format. But constructing a whole house doesn’t come cheap and surely needs a hefty financial backing. Thus consumers borrow money from bank or NBFCs to construct a house of their choice. The of getting a construction loan are very different than a home purchase loan. The land on which the house will stand is supposed to have bought within a year of getting the loan as the cost of land is counted as part of the construction loan. The cost of land is excluded from the loan amount, if the land was purchased earlier than one year. To get the loan, the borrower is supposed to give an estimated construction cost to the lender. Once receiving the cost, the lender evaluates and decides whether to sanction or reject the loan.
Home Loans for Extension/Renovation
Many times consumers wish to further construct or renovate their existing house. This may include adding an extra floor or renovating the exteriors and interiors keeping the original structure the same. These loans are becoming popular day by day as people are more interested in renovating existing house than buying a new one. Also this type of loan offers similar interest rates as basic home loan. With its user friendliness and convenience, this type of loan is being majorly availed these days. Since it is easier and more preferred to renovate a house rather than going in for a new one, home loans for extension/renovation is being preferred currently. Contact us to avail this loan at a reasonable rate of interest.
Home Conversion Loan
Many time consumers change their residence. It can be for any personal or professional reason. But moving into another house doesn’t come cheaper either. If one already has a home loan on earlier purchased house and wishes to move into a new house buy getting a new home loan, this type of loan is a saviour for them. The home conversion loan helps you to transfer the current loan from your old house to your new house.
NRI Home Loan
People who are living outside India, also known as Non-Resident Indians (NRI) buy property in India for investment or for their family back home. The terms, requirements, interest rates and procedures are different for them as compared to the basic home loan. These are specifically designed for NRIs. NRIs can avail our specially structured home loans, which are designed keeping their convenience in mind. Contact us to avail the NRI home loan.
Balance Transfer Home Loan
The interest rates in home loans change as per the RBI Cash Reserve Ratio (CRI) from time to time. So while purchasing the loan, if a bank offers you the lowest interest rate, it may so happen that the percentage changes in a few years. So instead of paying extra interest rates in future and regretting it, you can transfer the home loan to another bank or institution which offers interest rates suitable to your budget. 
Pradhan Mantri Awas Yojana
This government scheme, also known as PMAY, was earlier known as Indira Gandhi Awas Yojana. In June 2015, the government announced Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana which gives every Indian citizen a chance to get his/her dream house. Almost all banks offer loan in coalition with this scheme. This government made scheme has a record of benefiting thousands. It is created with the aim of citizen welfare.
Why Choose RS Marketing To Apply For Home Loan?
RS Marketing is India’s fastest growing financial distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for home loans with RS Marketing's latest online application process. You can choose from a plethora of banks and NBFCs on our website for your loan. We help you borrow right.
Hassle free process
We have developed an efficient, smooth and easy process for our consumers to get a home loan. Our easy to use online procedure allows consumers to apply documents quickly. Our highly proficient Loan Calculator also guides the consumers to embark on a hassle free process.

Compare your loan options
You can compare interest rates, offers and services on our online portal. This is necessary as it guides you to make the right choice and choose the right lender for your home loan as per your budget and expectations. Also, comparing ensures that you have chosen the best.
Privacy policy
We, at RS Marketing understand the value of your documents and keeping them safe and private. Your loan applications are processed electronically with complete privacy and transparency.
Benefits of applying with us
We value our consumers and are always on our toes to give them benefits of our expertise. Applying for a home loan with us, gives you a chance to avail the best offers and deals from our partner banks and NBFCs. So get in touch with us today!

Free expert guidance and advice
Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, to choose the right home loan, without charging a dime.
What are the Characteristics of Home Loan?
There are many Characteristics of Home Loan. Go for Home loans by choosing any one or all from below…

The home loan amount varies from bank to bank. But the minimum is Rs 2,00,000/-

Home loans come with longer repayment period, as long as 30 years. It includes repaying the principal amount along with the interest costs. The minimum tenure is 5 years.

Home loan can be repaid in the form of EMI (Equated Monthly Installment)

The EMI (Equated Monthly Installment) of the loan is formed by combining the principal amount and the interest together.

The repayment of home loans is done in equal monthly installments.

The home loan charges are inclusive of registration charge, processing fees, prepayment penalty, commitment charge and miscellaneous charges for documentation and consultation.

Home Loans are considered as secured advances.

To avail a home loan, borrower has to give mortgage. The collateral here is usually the property that is being bought or even the existing property can also be given as collateral.

The banks offer home loan with three main types of interest rates: Fixed, Floating or a combination of fixed and floating. The Indian government has introduced MCLR (Marginal Cost of funds based on Lending Rate). This is used by banks to decide the rate of interest at which they want to lend money to borrowers.

To reduce liability, banks accept pre-payments. It is allowed by all banks and NBFCs. Very few banks charge for pre-payment.

In home loans, you can get loans in higher amounts compared to other types of loans i.e. 85% to 90%.

To avail the home loans you can have your spouse or parents as co-applicant or joint applicant. You get tax benefits from that.

The interest rate on home loan is comparatively lower than personal loan as it is a type a secured loan.

The amount bank will give you under home loan will vary based on your income, credit history, the locality/city you are planning the purchase a house in and various other factors.

You can enjoy tax benefits on home loan according to the Income Tax Act, 1961.
What are the Eligibility Criteria to avail a Home Loan?

To determine whether you are eligible to get a home loan or not, there are various criteria involved. Such as income, employment status, loan tenure etc. The criteria differ from bank to bank. But we have given some of the important eligibility criteria below:

Any consumer who has a regular and steady source of income can get a home loan.

Irrespective of consumer’s profession (salaried, self-employed or business person) he/she can get a home loan.

The consumer, who wants to apply for home loan, should be of minimum 21 years old. Whereas the repayments has to be done by the age of 60, maximum 65.

Applicant’s savings history with bank plays an important role in approval of the loan.

If you have a bad credit history, especially before 3 months of applying for home loan, it can become a large hurdle in accessing the loan.

Those who have their own business or are self employed, have to present their profits and turn over to determine the value of loan they’ll be applying.

The applicant also has to give the proof of current residence. He or she should be staying at the current residence for at least a year. As it will be seen as a proof of stability with along with employment and financial.

Applicant need a good credit score is (750-900 from CIBIL is considered as a good credit score).
What are the Documents Required to avail a Home Loan?

The process of getting a home loan can be made easier if you know exactly what documents you need to submit with your application. The documents are filed according to the eligibility criteria.

The list of required documents differs from bank to bank. But we have given a generic list of required documents below:

Neatly signed and filled home loan application form

Passport-size photographs

Statements of investments (if any)

Copy of plan approved for the proposed construction/extension (in case of applying for home loan for extension)

Cost estimation or valuation report from the bank's (or finance company's) panel CA

Allotment letter of housing board/NOC of the society/builder etc.

Bank statements and salary slips of last 6 months from application date

Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.

Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.

Age Proof - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.

Valuation/cost estimation report from evaluator approved by the NBFC or Bank

Property papers with OC and CC
What are the Fees and Charges Applicable to Home Loan?
There are specific fees and charges applied by banks and NBFCs while processing the home loans. These charges are different from the interest rates. These charges differ in value from bank to bank, but the types of charges are the same everywhere.
Processing Fee
Banks charge a non-refundable processing fee for your home loan request. Different banks charges different amounts as processing fee. This fee is either a specific percentage of the loan amount or a fixed amount of money. Depending upon applicant’s profile and considering some terms and conditions, banks often negotiate and lower the processing charges or waive it off completely.
Conversion charges
Banks offer home loans on two types if interest rates: fixed interest rate or floating interest rate. The borrower can between these two interest rates. Every time a borrower applies for switching from fixed rate to floating or vice versa, conversion charges are applied by the bank. These charges are some specific percentage of the principal amount of the loan.
Administrative Fee
Some banks charge administrative fee separately from the processing fee. Administrative fee is applied by banks to compensate for the back-end administrative processes that are performed while processing of home loan applications. Generally a nominal fee, administrative fee is sometimes required for the banks to get their back end cost reimbursed. 
Late payment charges
If the borrower is late in paying any of the loan installments, almost all the banks impose late payment charges on the borrower. Be it any reason, financial crunch or some other financial liability or plain oversight, banks do not bend their rules. So, it is better to repay the loan amount on time in order to avoid late payment charges and save more money.

Legal Fee
Banks need lawyers to complete the task of verification of property, for which loan will be given. As many banks do not have in-house lawyers, they hire them to complete the task and recover their fees from home loan customers. Although it increases charges, it is a mandatory step as legalisation is very important. Hence, legal fees cannot be ignored. 
How to Apply For a Home Loan on RS Marketing?

Applying for a home loan on RS Marketing involves few easy steps:

Step 1: Go to the ‘Home Loan’ Go page on our website and click on ‘Check Your Eligibility’ box.

Step 2:Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.

Step 3: Our loan calculator presents you a list of banks and NBFCs most suitable for you as per your eligibility criteria. The list will include the name of the financial institutions, interest rates, required document list etc.

Step 4: From the given list, you can choose the financial institute of your choice. You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.

Step 5:Your application will be sent electronically to the bank you selected. You will be informed about the status of your application via SMS, email or you can track it via website too.
Fill out my online form.
Online contact and registration forms from Wufoo.
Contact Us
Our Office Address
Opp S M Centre,Office no 1 Singh house Marol naka,Andheri east,Mumbai, Maharashtra 400059
General Enquries
Call Us
Our Timings
Mon - Sun : 10:00 AM - 09:00 PM
Your enquiry has been sent successfully.
Get Direction

Use two fingers to move the map

Location information not available.