Bandhan Bank Home Loan: Get Up to ₹10 Lakh Without Income Proof

Buying a home is a dream for many, but securing a loan can be challenging, especially for those without formal income proof. Bandhan Bank Home Loan aims to bridge this gap by offering loans of up to ₹10 lakh, even to individuals who do not have traditional income documentation.

Bandhan Bank Home Loan

Feature	Details
Loan Amount	Up to ₹10 lakh
Income Proof	Not mandatory (depends on loan type)
Interest Rates	8.91% – 15.00% (varies based on creditworthiness)
Loan Tenure	Up to 30 years
Eligibility	Salaried, self-employed, and micro-banking borrowers
Application Process	Online and offline options available
Official Website	Bandhan Bank Home Loan

Bandhan Bank’s home loan offerings are ideal for salaried professionals, self-employed individuals, and micro-banking borrowers looking to purchase, construct, or renovate a home. The flexible eligibility criteria, competitive interest rates, and no strict income proof requirement make it accessible to a wide range of applicants.

Why Choose Bandhan Bank Home Loan?

Bandhan Bank offers home loans that cater to different income groups, including those without a formal income source. These loans are structured to provide financial assistance for purchasing, constructing, or renovating a home.

Types of Bandhan Bank Home Loans

Bandhan Bank offers two primary types of home loans:

1. Su-Awas Home Loan

• Target Audience: Primarily for micro-banking borrowers.
• Loan Amount: ₹1 lakh to ₹10 lakh.
• Income Proof: Not required (cash flow analysis used for assessment).
• Interest Rate: 13.00% – 15.00%.
• Loan Tenure: 2 to 10 years.
• Purpose: Construction of a semi-pakka or pakka house.

2. Suvidha Home Loan

• Target Audience: Salaried and self-employed individuals.
• Loan Amount: Up to 90% of property cost.
• Income Proof: Flexible requirements, income assessment based on cash flow.
• Interest Rate: 8.91% – 13.08%.
• Loan Tenure: Up to 30 years.
• Purpose: Purchase, construction, or home extension.

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Eligibility Criteria

The eligibility criteria for Bandhan Bank home loans vary based on the type of loan:

• Age: Minimum 21 years at the time of application.
• Employment Type: Salaried, self-employed, or micro-banking customers.
• Credit Score: Higher scores (above 700) improve loan approval chances.
• Loan Repayment Capacity: Evaluated based on existing debts and financial history.

How to Apply for a Bandhan Bank Home Loan

Applying for a Bandhan Bank Home Loan is a straightforward process. Follow these steps:

Step 1: Check Eligibility

Visit the official Bandhan Bank website and use their eligibility calculator to check your loan qualification.

Step 2: Gather Documents

For Salaried Individuals:

• KYC documents (Aadhaar, PAN, passport, etc.).
• Last 3 months’ salary slips.
• Form 16 from the employer.
• Last 6 months’ bank statement.
• Property documents (if applicable).

For Self-Employed Individuals:

• KYC documents.
• Business proof (GST registration, trade license, etc.).
• Bank statement (last 6 months).
• Income tax returns (ITR) for the last 2 years.

Step 3: Apply Online or Visit a Branch

• Online Application: Fill out the form on the Bandhan Bank home loan page.
• Offline Application: Visit the nearest Bandhan Bank branch with documents.

Step 4: Loan Approval and Disbursal

Once your documents are verified, Bandhan Bank processes the loan and disburses the amount to your account or directly to the seller/builder.

Interest Rates and Repayment Terms

Bandhan Bank home loan interest rates vary based on the loan type and borrower profile:

• Su-Awas Home Loan: 13.00% – 15.00%.
• Suvidha Home Loan: 8.91% – 13.08% (floating rates).
• Processing Fee: 0.50% – 1.00% of the loan amount.
• Loan Tenure: 2 to 30 years (depends on the loan type).

Tips to Increase Home Loan Approval Chances

1. Maintain a Good Credit Score – A credit score above 750 improves approval chances.
2. Reduce Existing Debt – High debt-to-income (DTI) ratio can lower approval chances.
3. Provide Additional Collateral – If possible, offering collateral increases loan eligibility.
4. Ensure Proper Documentation – Missing paperwork can delay approval.
5. Opt for a Co-Applicant – Adding a spouse or parent as a co-applicant increases loan eligibility.

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Bandhan Bank Home Loan FAQs

1. Can I get a Bandhan Bank home loan without income proof?

Yes. Su-Awas Home Loan allows borrowers without formal income proof to apply based on cash flow evaluation.

2. How long does loan approval take?

Loan approval typically takes 7 to 15 working days, depending on document verification.

3. Can I prepay my home loan?

Yes, Bandhan Bank allows prepayment with no penalty on floating rate loans.

4. What is the minimum salary required for a Bandhan Bank home loan?

While there is no strict minimum, a stable source of income is required.

5. How can I check my loan status?

You can track your loan status online through Bandhan Bank’s website or by visiting the nearest branch.