Why Choose India Shelter Finance Corporation Bank Home Loan?
Choosing India Shelter Finance Corporation Bank home loan means opting for a
secure, transparent process with a trusted institution. ISFC Bank offers tailored home loan
options with low-interest rates, easy documentation, and flexible tenures. Tools like the Home
loan EMI calculator help borrowers make informed decisions.
ISFC Bank also offers land loan for residential purposes and plot loan for
residential land in India, providing flexible solutions for building a home or investing in land
for future construction.
Top Indian Shelter Finance Home Loan Schemes
India Shelter Finance home loan offers various schemes to cater to different financial needs and
home-buying scenarios. Some of the prominent loan schemes available at ISFC Bank are:
Home Purchase Loan: Ideal for individuals looking to buy a
ready-to-move-in property or an under-construction property.
Home Construction Loan: If you already own land and wish to build
your own home, ISFC Bank offers a home construction loan to finance the construction costs.
Home Renovation Loan: Aimed at homeowners who want to renovate or
refurbish their existing home, this loan can be used for repairs, extensions, or modernization.
Land Loan for Residential Purpose: For those who want to buy land
to build their future home, this loan is an excellent choice.
Plot Loan for Residential Land in India: If you are planning to
purchase a residential plot to construct a house later, this loan is specifically designed for
that purpose.
India Shelter Finance Home Loan Eligibility Criteria
Before applying for an India Shelter Finance home loan, it’s essential to check if
you meet the eligibility requirements. Below is a table outlining the basic criteria for
obtaining a home loan from ISFC Bank:
Age: 21 to 60 years (varies by loan type and applicant profile).
Income: Minimum net income of INR 15,000 per month (varies by
loan type).
Employment Type: Salaried, self-employed, or business owners.
Credit Score: A minimum credit score of 650 or above is
preferred.
Nationality: Indian citizens or NRIs (Non-Resident Indians).
Property Type: Ready property, under-construction property, or
plot.
Repayment Capacity: Based on monthly income and liabilities.
ISFC Bank may adjust eligibility criteria based on your loan amount, property type, and other
factors. It is always advisable to check the latest updates on eligibility before applying.
Documents Required for India Shelter Finance Corporation Bank Home Loan
To apply for ISFC Bank home loan, you will need to submit a set of documents for
verification. The documentation process is simple and straightforward. Here is a list of the
documents generally required for the home loan application:
Proof of Identity: Aadhaar card, PAN card, voter ID, or passport.
Proof of Address: Utility bills, bank statements, passport, or
rent agreement.
Income Proof: Salary slips, Form 16, IT returns, bank statements,
or business financials.
Property Documents: Title deed, sale agreement, property tax
receipts, and encumbrance certificate.
Photographs: Passport-sized photographs of the applicant and
co-applicant (if applicable).
Credit Report: A copy of your credit report or your credit score.
The bank may request additional documents depending on the loan type and your profile. Always
check the official ISFC Bank website for the most accurate and updated list of documents.
Tax Benefits on India Shelter Finance Corporation Bank Home Loan
One of the most attractive features of India Shelter Finance home loan is the tax benefits available
to borrowers under Section 80C and Section 24(b) of the Income Tax Act:
Section 80C: You can claim deductions up to INR 1.5 lakh on the
principal repayment of the home loan.
Section 24(b): Under this section, you can claim a deduction of
up to INR 2 lakh per year on the interest paid on the home loan.
These tax benefits help you reduce your taxable income, making the India Shelter
Finance Corporation Bank home loan even more affordable and financially rewarding.