Home loan checklist for buying a flat in Bengaluru

Most buyers fund their home with a loan. Sorting it out early gives you a firm budget and a stronger position when negotiating.

How much can you borrow?

Under RBI rules, banks can lend up to about 90% of the property value for homes up to ₹30 lakh, 80% up to ₹75 lakh and 75% above that. Stamp duty and registration are usually not funded, so plan to pay those yourself.

Your eligibility also depends on income: banks generally keep total EMIs within roughly 50–60% of monthly take-home pay. Use the EMI calculator on any project page to test numbers.

Documents banks usually ask for

• PAN, Aadhaar and address proof
• Salary slips for 3–6 months and Form 16, or ITRs for 2–3 years if self-employed
• Bank statements for 6 months
• The property's sale agreement, allotment letter and the builder's approval documents

Choose approved projects

Most large banks pre-approve well-known projects after checking their documents. A pre-approved project means faster sanction and less paperwork. Ask us which banks have approved a project.

Pre-EMI or full EMI?

For under construction homes, the bank releases money in stages. You can pay only interest on the amount released (pre-EMI) until possession, or start the full EMI straight away so the loan closes sooner. Full EMI costs less overall.

Tips

• Compare at least three lenders and ask about processing fees.
• A credit score above 750 usually gets the best rates.
• Ask for the sanction letter before signing the builder agreement.