Home loans: how much can you borrow?
Most buyers in Kochi use a home loan. Knowing the basics early helps you set a realistic budget.
How much the bank lends
Under Reserve Bank of India rules, a bank lends at most a set share of the property's value:
- Loans up to ₹30 lakh: up to 90%
- ₹30 lakh to ₹75 lakh: up to 80%
- Above ₹75 lakh: up to 75%
The rest, plus stamp duty and registration charges, comes from your own savings. Banks also check that your monthly instalment fits your income, so the final amount may be lower.
Documents to keep ready
- Identity and address proof (Aadhaar, PAN)
- Salary slips and bank statements for the last six months, or two years of income tax returns if self-employed
- The property papers: sale agreement, title deed copies and approved plan
Tips
- Compare the interest rate and the processing fee across two or three banks.
- Get an in-principle approval before you start visiting homes, so you know your real budget.
We connect you with home-loan specialists when you are ready. Check current rates and rules with your bank, as they change.