Applying for a Home Loan Made Easy: Online and Branch Application Tips

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Applying for a home loan is actually a very simple process. You can either visit a branch or apply online. With the advancement in technology, the process of applying for a home loan has become easier and simpler. Now, you can choose and compare loan offers with lenders who let you apply for a loan online.

Your ability to take a home loan depends on your capacity to repay it. For this, it is necessary to consider issues like your monthly income, expenses and family income, assets, liabilities, stability in income. Banks first see whether you will be able to repay the home loan on time or not.

If you are already a customer of SBI and apply for a home loan through their popular net banking app YONO App, then you can get a good discount on the interest rate of the loan.

However, the State Bank of India (SBI) is offering SBI Home Loan at an interest rate of 6.95% from July 1, 2020.

The process is quite simple –

  1. Research about the lender and their credibility.
  2. Study the loan offer.
  3. Fill out an easy e-form to apply.
  4. Submit minimal paperwork.
  5. Enjoy instant approval and quick disbursement of the loan on verification of the paperwork.
  6. You can get in touch with the relationship manager of the lender to clarify doubts.

The online process of applying for a loan is not only safe but also less time-consuming. There are many lenders who allow loan seekers to avail of loans through their apps.

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