Can I Get Home Loan in Village?

Availing a home loan in rural area seemed almost impossible a decade ago but now it is very easy. Different banks have established their bank branches in remote or rural areas so you will just have to know the eligibility criteria, interest rate or other home loan-related specifications. Let me explain how to get home loan in village so that you can get an idea about it. Bhanu Ji has rightly stated how to avail a loan in rural areas so let me just add more things here in my answer.

Can I get home loan for rural area?

Yes, you can avail a home loan in a rural area. A salaried person or self-employed person can easily apply for a home loan to construct or renovate a house. All you have to do is

• Select the bank from where you want to avail a loan

• Check out its eligibility criteria and interest rate

• Select the time and present the documents as required

Here are some of the banks and other details related to home loans available in rural areas

As for home loan eligibility in rural area let me tell you that different banks have different criteria so it is best to ask the bank officials. The two basic criteria all banks have are-

• The applicant must be a citizen of India

• He/she must have a regular source of income

I hope you have understood where you can get home loan in rural area. 

Hey there,

We often find ourselves confused when it comes to availing banking services in villages and rural areas. But home loan for rural area are a thing and are very important for realising the dream of a home for the rural people and to achieve the goal of the government of an affordable home for every citizen of India. So if your question is ‘Can I get a home loan in village or not, the answer is yes, you absolutely can. 

Home loan in village area can be taken by visiting the nearest private or government bank, instead of searching for them on the internet. By visiting a bank you can clearly understand the rules and regulations of the bank’s home loan offers and the banking professionals will also guide you more clearly. Mostly, the banks in the rural areas are affluent in the local language so language will not be a barrier. The interest rates may vary from bank to bank but the rates are almost the same for all the banks.

Although there are certain documents which you need to keep with you before taking a home loan in village.

• Identity proof like passport, voter id, aadhaar card, or PAN card.

• Bank statements for the past 6 months.

• Copy of title document of agricultural lands as proof of crops grown and as a proof of land holding.

• Form 16.

• Salary slips of the past 3 months.

• Must be an Indian resident.

• Must be above 21 years of age.

• Must have a regular source of income.

• Can be an individual or a joint applicant with any other family member who has a regular source of income.

• Entrepreneurs, agriculturalists, and salaried or self-employed people are also eligible.

I hope I was able to make you understand what is home loan for rural area and what documents are required for it.