Salaried applicants can avail up to Rs. 3.5 Crore as Home Loan while self-employed individuals can apply up to Rs. 5 Crore. Know the complete Housing Loan eligibility criteria and documents required for home loan before applying.

How much home loan can a government employee get?

Previously, government employees were allowed to take an Rs. 7.5 Lakhs of HBA. However, as per the recent changes in the policy, you can now avail a loan of up to Rs. 25 Lakhs.

What are maintenance loans?

Maintenance Loan for living costs The loan is paid directly into your bank account at the start of each term. You have to pay the loan back. You may not get the full amount, so you may have to find other ways to fund the rest of your living costs.

When to use salary certificate for housing loan?

When employee approaches a bank for car loan or housing loan, bank first inquire about repayment capacity of borrower. The best source bank rely on Salary certificate, issued by head of the department the employee works.

How is a maintenance loan paid into a bank account?

The maintenance loan will be paid directly into your bank account in three instalments at the start of each term The loan amount will depend on your living circumstances and your household income, which you can work out before receiving the loan.

What happens to your maintenance loan when you graduate?

When you are in final year the amount of your maintenance loan will reduce. Strictly speaking this is because once you finish your final exams, you are not a student anymore. In your previous few years as a student, the government took into account summer vacation. However, this no longer applies once a student has completed their final term.

Do you need salary certificate for personal loan?

The majority of financial institutions and banks that offer personal loans require a salary certificate as a mandatory document. Based on the form and type of credit the required documents and eligibility criteria might change. However, mainly banks require the following documents while applying for a personal loan in UAE-