Home Loan Eligibility Criteria for Equitas Bank
Before you apply, reviewing the eligibility norms helps you plan better and check eligibility quickly.
| Eligibility Factor |
Details |
| Applicant Type |
Salaried persons, self-employed individuals, professionals |
| Minimum Age |
21 years |
| Maximum Age at Loan Maturity |
Up to 65 years |
| Income Requirement |
Stable and verified income documents |
| Credit Score |
Preferably 650 or above |
| Employment Stability |
Minimum 1–2 years of continuous employment or business |
| Loan Tenure |
Up to 30 years |
| Property Type |
Approved residential property as per bank norms |
This makes it an ideal home loan for salaried person as well as borrowers looking for structured affordable housing finance solutions.
Home Loan Schemes Offered by Equitas Small Finance Bank
The bank provides multiple housing loan schemes to match different housing needs and budgets:
| Available Housing Loan Schemes |
Description |
| Home Purchase Loan |
For buying ready-to-move-in or under-construction residential properties. |
| Home Construction Loan |
Suitable for customers who own a plot and want to construct a residential house. |
| Home Extension / Renovation Loan |
Designed for extending or improving an existing home. |
| Affordable Housing Loan |
Focused on first-time buyers and eligible borrowers seeking a low-interest home loan, with possible access to interest subsidy benefits. |
These schemes offer competitive home loan interest rate options and flexible monthly installment planning.
Documents Required for Equitas Bank Home Loan
Submitting accurate paperwork ensures faster processing and smoother instant approval wherever applicable. Below is a clear checklist of documents required for housing loan applications:
| Document Type |
Required Documents |
|
Identity Proof
|
Aadhaar Card, PAN Card, Passport
|
|
Address Proof
|
Aadhaar Card, Utility Bill, Voter ID
|
|
Income Proof (Salaried)
|
Salary slips, Form 16, bank statements
|
|
Income Proof (Self-Employed)
|
ITR, audited financials, bank statements
|
|
Property Documents
|
Sale agreement, title deed, approved building plan
|
|
Photographs
|
Recent passport-size photographs
|
Maintaining a good credit score and verified income documents improves approval chances.
Tax Benefits on Home Loan
A housing loan not only helps you own a home but also offers attractive tax benefits on home loan in India:
Section 80C –
Deduction up to ₹1.5 lakh on principal repayment
Section 24(b) – Deduction up to ₹2 lakh on interest paid for self-occupied property
Additional Deductions –
Benefits for first-time homebuyers under applicable sections
Interest Subsidy –
Available under government-backed affordable housing schemes, subject to eligibility
These tax advantages significantly reduce the overall cost of home purchase financing.
Loan Processing Fees & Other Charges
Equitas Small Finance Bank follows a transparent fee structure to maintain trust and clarity:
- Processing fees as per bank guidelines
- Legal and technical verification charges
- Documentation and registration expenses
- No hidden or surprise charges
Borrowers can calculate EMI in advance to choose a comfortable repayment tenure.
Why Choose Equitas Small Finance Bank for Home Loan?
- Competitive interest rates and flexible repayment tenure
- Simple documentation and faster approvals
- Customer-focused approach with transparent processes
- Suitable for both salaried and self-employed borrowers
- Trusted name among borrowers searching for the best home loan bank