Hey,
I am sure you must have heard the famous bollywood phrase by Amitabh Bachan “ roti, kapda and makaan”. Owning a makaan or a house has been a dream of mine since I was young. I have done research about the process of applying for loans, getting technical documents and more. I will share details about home loan minimum tenure in my answer.
What is the minimum tenure for home loan ?
When you avail a home loan on your property, you have to select the tenure. Banks and financial institutions have a minimum tenure for the home loan. Usually, the minimum tenure is two year ie the home loan period is two years. This means that you must repay the loan amount borrowed to the bank in the span of two years.
Housing loan minimum tenure will ultimately depend on the bank of your choice. You can borrow money for your home loan only if you meet the eligibility criteria set by the bank.The loan amount is decided by the bank. The bank will check your employment status, credit score, and other details before deciding whether to sanction a home loan or not.
This is the end of my answer about home loan minimum tenure. I hope your doubts have been cleared.
If you are exploring home loan options and looking for best deals, check out NoBroker Home Loan services Read more : Who has the lowest home loan rates? How to convert personal loan to home loan in HDFC? which bank is best for home loan in mumbai How to check home loan eligibility?
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Authors Of The Question
what is the minimum tenure for home loan
tavish
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2 Year
2022-01-04T09:15:01+00:00 2022-01-04T09:15:03+00:00Comment
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