1. What is the minimum loan amount?
The loan amount depends on your repayment capability and is restricted to a maximum of 85% of the cost of the property or the cost of construction as applicable.
Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, stability, continuity of occupation and savings history.
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2. What are the loan tenure options?
You have the option of selecting a term you are comfortable with, ranging upto 25 years, provided the term does not extend beyond your reaching 65 years of age or retirement age, whichever is earlier.
3. What are the lending rates?
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4. How is the interest charged/calculated?
Home Loans has two schemes, (a) Fixed Rate Home Loans (b) Adjustable Rate Home Loans. If you opt for an Adjustable Rate Home Loan, the interest rate would vary with the ICICI Bank Home Floating Reference Rate. Under the Fixed Rate Home Loans the rate applicable on the date of disbursement remains fixed during the entire duration of the loan. We also have products with a combination of both these rates.
5. Do I have to pay any additional charges?
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6. What documents do I need to submit to avail a Home Loan?
Please click here for information on documentation.
7. How do I approach availAloan.com for a Home Loan?
You can approach us in any of the following ways
- Apply online
- Write to us using the "Email Us" option
- Call us @ +91 11 47511222 or +91 9899664484
- You can just walk into our office at:
310, III rd floor,
Vardhman Taru Plaza, CU Block,
Pitam Pura, New Delhi.
8. How much time will it take for my loan to be approved?
It takes 48 hours for your loan to be sanctioned after you have submitted all the documents
9. Who can be the co-applicants for the loan?
You could include your spouse as a co-applicant for the loan and we shall include his/her income to enhance your loan amount. Further, in case there are any other co-owners they also need to be co-applicants. Other than the spouse please check with your home loan counselor on the approved co-applicants for the loan.
10. Is a personal guarantor a must?
No, there is no personal guarantor required in most cases. Please check with your home loan counselor with your specific details.
11. What security/collateral do I have to provide?
Typically the security for the loan is a first and exclusive charge of the property to be financed, by way of deposit of title deeds and/or such other collateral security as may be necessary. The title to the property should be clear, marketable and free from any encumbrances.
12. What are the stages involved in taking a loan?
There are three main stages:
- Application - Whereby you submit a completely filled in application with all necessary documents.
- Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities.
- Disbursement - Whereby the loan amount is transferred.
13. What are the various types of loans that availAloan.com provides?
- Home Loans
- Land Loans
- Home Improvement Loan
- Office Premises Loans
- EMI under Construction
- Balance Transfer
- MoneySaver
- Top Up Loan
- Loan on Phone
- Home Equity Loans
- Property Overdraft
- Lease Rental Discounting
- Home Equity - Plot
- Home Loan for NRI
14. What is a Monthly Reducing balance?
An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in a significant saving for the customer over the tenure of the loan.
15. When can I apply for a loan?
Your search for the perfect home loan ends here at availAloan.com, even before your have found the perfect property. The moment you decide to buy a home, you can put in your application for a home loan. Yes, you can apply for a home loan even before you have selected the property. The loan amount would be sanctioned or approved for you, based on your repayment capability.
16. Can availAloan.com assist me in selecting an accommodation of my choice?
Yes, we have a special service - Home Search. This service provides the customer assistance in identifying a property that fulfills your requirements from a vast database of properties, arranges for site visits to the properties shortlisted by you, and helps with legal documentation. This service comes to you completely free of cost for first sale properties. This facility is available in select cities.
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