Yes, depending upon the eligibility criteria and policy of the bank.

Loans are generally disbursed between 70%-80% of the cost of the flat. The balance money is to be funded by the flat purchaser from his own contribution. The percentage of loan would vary from bank to bank.

Any Indian citizen, including Non Resident Indians, with a steady source of income can borrow funds for financing the cost of a flat from housing finance companies and banks.

Various varieties of housing loans are offered by different financial institutions. Prominent among these are:
  • Home LoansThis is the basic housing loan for the purchase of a new home, which covers the cost of the flat, deposits and charges, stamp duty and registration charges.
  • Home Improvement / Extension LoansThese are for the purpose of undertaking repair works and renovations in a home that is already owned by you.
  • Bridge LoansBridge loans are for people who wish to sell their existing house and purchase another one and need finance for the new house until a buyer is found for the old one.
  • Balance TransferA balance transfer indicates the paying off of an existing housing loan and availing of a loan with a lower rate of interest.
  • Refinance LoansRefinance loans are taken to pay off the debt incurred from private sources such as relatives and friends, for the purchase of your present house.
  • Loans To NRIsThese loans are designed as per the requirements of NRIs who want to buy a house in India.