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Home » New way for you to find Cheap Home Loan in Meghalaya’s beautiful locations

New way for you to find Cheap Home Loan in Meghalaya’s beautiful locations

INTRODUCTION

Meghalaya being one of the most beautiful states of India and also rich in cultural heritage is one of the states where requirement for houses is growing gradually. Due to the efforts of the government, and other financial institutions that provide home loans, the chances of owning a home in Meghalaya has been made easier. 

Meghalaya has various home loan policies for the people involving the economic weaker section and rural families. 

Here are some key schemes:Here are some key schemes:

Chief Minister’s Housing Assistance Programme:

This scheme offers financial support and that too the roofing material to the EWS especially LIG to construct a good house out of it.

  • The formerly implemented Rural Housing Scheme also improves the quality of life of homes that are situated in rural areas.

Affordable Housing Scheme:

  • Fundamentally this scheme is based on the nascent of providing houses to those people who cannot undertake constructions themselves owing to lack of funds.
  • The rules for this particular scheme are yet to be drawn in its finality, yet it is expected to present sustainable housing provisions.

These schemes are aimed to enhance the quality of life of BPL and RW families in Meghalaya so that they get proper and economical living facilites in the form of housing.

Options for Loans / Banks / NBFCs

Banks /Nbfc R.O.I Processing Fees Loan

Amount

Cibil Score Apply Now
HDFC Bank Home Loans 8.45% – 10% (Reducing Per Annum) 0.5% – 1% 5.00 Lacs and above 650 or above https://referloan.in/loans/hdfc-bank-home-loan

 

General Eligibility and Document Required for This Type of Loan

 Eligibility

The eligibility for Chief Minister Housing Assistance Programme is as follows:

  • A person should be a genuine citizen of the Meghalaya state.
  • To qualify for the loans be 18 years or older.
  • Build the house on the piece of land owned.
  • Have no other house in Meghalaya is something that has to be presented to have an alternative house as the main house.
  • Ensure that you produce identification of residence which includes the EPIC card.

Documents Required:

  • Proof of Identity: PAN card, Aadhaar card.
  • Address Proof: any utility bill or rent agreement.
  • Business Proof: Registration certificate, the business license.
  • Bank Statements, Bank Statement, Income Tax Returns and Profit Loss A/c

How Referloan Can Help 

 ReferLoan is among the rapidly advancing businesses of the Indian nation. It serves all sorts of financial needs through banking and non-banking segments where it interconnects the clients needed.

This is how ReferLoan can help!

  • Customized Loan Solutions: ReferLoan is the platform where you thereby get assisted effectively to seek the most suitable loan solutions to the real estate market in Meghalaya according to your property type preference.
  • Local Expertise: Taking into account the specific features of the property market in Meghalaya, ReferLoan shares information and advice on the specific rules and ad restrictions for home loans.
  • Access to Multiple Lenders: Through ReferLoan, you get a chance to access several banks and other financial services providers in Meghalaya enabling one to access loans at reasonable interest rates to suit your loan repayment period.
  • Fast Approval Process: ReferLoan makes the exercise of approvals much easier, ensuring you get approvals of time so that you can complete the dream home buying process in Meghalaya.
  • End-to-End Support: Everything from selecting the correct home loan offer to paperwork and payment is covered in details with the help of ReferLoan.

Frequently Questions  

  • Who is eligible for availing home loan in Meghalaya?

Knowledge workers, independent contractors and business people with regular salary income are allowed. Some of the requirements include capacity to pay, credible income and credit history.

  • Is there any maximum home loan amount that can be approved for a borrower in Meghalaya?

The amount which can be borrowed depends on the property value and applicants income it can go up to 80/90% of the market value of the property.

  • What are Meghalaya’s home loan interest rates today?

On average, interest rate fluctuate between 6%. Is 5% to 9%, although the interest rate varies depending on the lender, the loan amount as well as your credit situation.

  • How many years does one take to repay the home loan in Meghalaya?

Interest rates are 5%-30% and loan tenures vary from 5-30 years thus one can select a plan that suits his or her pocket.

  • Is it possible to avail a home loan for purchase or construction of house in rural areas of Meghalaya?

Yes, there are number of lenders who offer home loan for both for property in urban and rural areas of Meghalaya provided property is legal and financially viable.

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