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Fill all your basic details in the form.
You can choose to increase your sum assured systematically every year by 10%...Read More
Under this optional benefit, your spouse can get insured too. You can opt for it only if your Sum Assured is higher than...Read More
All future premiums payable under the Policy shall be waived-off...Read More
As you progress through the various stages...Read More
We help you to choose best insurance plan based on your needs
SCHEDULE A CALLYou can either visit the official website of the bank to directly apply for a home insurance or visit the BankBazaar website to compare different loans and then apply for one which you feel is suitable.
You can either visit the official website of the bank to directly apply for a home insurance or visit the BankBazaar website to compare different loans and then apply for one which you feel is suitable.
Bank | Best For | Key Highlights |
---|---|---|
State Bank of India home insurance | Low Interest Rate |
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HDFC Bank home insurance | Self-Employed Professional |
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Kotak Mahindra Bank home insurance | Quick Turnaround Time |
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Indian Bank home insurance | Flexible Interest Rates |
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Allahabad Bank home insurance | Short-term Requirement |
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Canara Bank home insurance | Top-Up Loans |
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Union Bank of India home insurance | Quick Approval |
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Corporation Bank home insurance | Easy Eligibility Checks |
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Indian Overseas Bank home insurance | Special Offers |
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Oriental Bank of Commerce home insurance | Different Income Categories |
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Punjab and Sind Bank home insurance | Affordable Interest Rates |
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The following factors are considered by lenders while going through your loan application. If you meet these criteria, consider yourself eligible for a home insurance.
Criteria | Salaried | Self-Employed |
---|---|---|
Age | 21 years to 60 years | 22 years to 55 years |
Net Monthly Income | Rs.15,000 | Rs.25,000 |
CIBIL Score | Above 750 | Above 750 |
Minimum Loan Amount | Rs.50,000 | Rs.50,000 |
Maximum Loan Amount | Rs.25 lakh | Rs.50 lakh |
Use BankBazaar home insurance EMI calculator to calculate your EMI beforehand to plan and manage your finances in a better way. home insurance calculator lets you check your loan eligibility and helps you compare loans offered by different banks.
All you need to do is enter the loan details, including your preferred loan amount, interest rate, tenure, and processing fee. Hit "Calculate" to check your EMI. The lowest applicable EMI per lakh for a tenure of 7 years at minimum applicable interest rate is Rs.1,599.
The result is followed by an amortisation table, which will give you a detailed break-up of your repayment schedule.
Requirements | Salaried Individuals | Self Employed |
---|---|---|
Proof of Identity | Passport, Voter’s ID, Driving License or PAN Card | Passport, Voter’s ID, Driving License or PAN Card |
Proof of Residence | Passport or utility bills | Passport or utility bills |
Proof of Income | Bank statement of salary account for the past two years | Audited financial statement of the past two years |
If you are an NRI looking to borrow a home insurance, these are the documents that you will need to submit to the lender:
In addition to these, the lenders might also levy charges for documentation, stamping, credit administration, collection, and so on. The levy and the rates of these fees and charges differ from lender to lender. However, you can check the fees and charges which are levied by the top lenders in India before you apply for a home insurance.
Do not forget to check the eligibility criteria for the different types of home insurances before you apply for one.
A home insurance customer can avail an additional loan amount through the top-up facility over his/her existing loan. The loan amount will be subject to the terms and conditions set by the financial lender, while the interest rate may be the same as the existing loan or could be up to 1% more than the interest rate of the current loan. The tenure of the top-up home insurance will be subject to that of the existing personal.
The approval of a home insurance application depends on many factors. When you apply for a loan, you should make sure that you are fulfilling all the factors to ensure the approval of your loan application. The eligibility criteria for home insurances may vary from lender to lender. However, there are some common criteria which include the age of the applicant, his or her income, credit score, the status of employment, and so on. Before you apply for a loan, make sure that all the eligibility criteria are being fulfilled. This will help you avoid the rejection of your loan application. Although there are other options that you can resort to in case your loan application gets rejected, it is recommended to double-check before applying to avoid the chances of rejection of loan application.
If you have recently paid off your home insurance (either repaid or foreclosed), you might have the idea that your obligation towards the loan is over. However, that is not the case. There are certain things that you should do after paying off your home insurance.
Just give us a call on our toll-free number: 1000-000-0000 and we will explain the process
That is all. We will do the rest of the work and the claim amount will be transferred to the nominee^^. Simple!