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Frequently Asked Questions
What are the eligibility criteria for a home loan in Chennai?
You need a minimum age of 21 years, stable income, good credit score above 650, and employment for 2+ years. Self-employed individuals need 3+ years business proof. Income stability and debt-to-income ratio below 40% are essential criteria.
What documents are required for home loan approval in Chennai?
Required documents include identity proof (Aadhaar/PAN), address proof, income certificates, bank statements (6-12 months), property documents, property valuation report, and insurance details. Self-employed need ITR, business registration, and financial statements.
What is the current home loan interest rate in Chennai 2026?
Interest rates typically range from 7.5% to 9.5% depending on your bank, credit profile, and loan tenure. Compare rates across HDFC, ICICI, Axis, and SBI. Fixed rates offer stability while floating rates may reduce over time for Tamil Nadu borrowers.
