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How can I apply for a Barclays Bank Home Loan? |
Call up any of our Phone Banking numbers or sms HOME <space> <your city> to 56161
Call us on:
– 1800 233 6565 (for MTNL and BSNL users)- Toll Free
– 6000 7888 (other private service users)
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What are the purposes for which I can take a Home Loan? |
You can take a loan for any of the following purposes:
- Purchase of a new home
- Purchase of a home from an existing owner
- Repaying a loan already taken from other Housing Finance Company/Bank
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What are the documents that I would need to submit when I apply for a Barclays Home Loan? |
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What is the minimum and maximum loan amount I can avail of? |
You can avail a minimum of 10 lakhs and a maximum of 5 crores. However, these amounts would vary according to your repayment capability, the value of your property, city in which the property is located and certain other factors.
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Who can apply for a home loan? |
All individuals, whether resident Indians or NRIs can apply for a home loan with Barclays Bank.
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Who all can be co-applicants for the Home Loan? |
Your immediate relatives (spouse, parents, or children) can be co-applicants on the loan. Siblings can be co-applicants if they are co-owners to the property. Proprietor concerns, partnership firms, private limited companies and closely held limited companies can be guarantors in your loan.
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What is the maximum tenure over which I can repay my loan? |
You can repay your loan upto a maximum tenure of 25 years. However, the tenure applicable on your loan will be as communicated to you in your loan sanction letter.
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What is the maximum funding I can get for my property? |
You can get upto 80% of your property value as a Home Loan. However, this amount may vary according to the bank's assessment of your repayment capability, your property being offered by you as collateral and certain other factors, which may be decided by the Bank. The maximum extent of funding you can avail of would be as mentioned on your loan sanction letter.
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Will Barclays Bank refund my processing fee if my loan doesn't get approved for any reason? |
If we are unable to sanction the loan to you, the processing fee paid by you shall be refunded after deducting INR 3,500 (plus applicable taxes) if the loan amount is less than INR 2 Crores and INR 5000 (plus applicable taxes) for loans above INR 2 Crores. No amount from the processing fee would be refunded if the loan gets sanctioned, even if you decide not to avail of the facility.
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How long will it take for my loan to get sanctioned? |
On receiving the completed application form with the necessary documents, we shall endeavour to process your loan application within 7 working days.
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What are my options for repaying the loan? |
You can re-pay your loan through either of the following options:
- Electronic Clearing System (ECS)
- Standing Instruction (SI) on your Barclays Bank account
- Online EMI payment
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Can I make part-payments on my Home Loan Account? |
Yes, you can make such payments by paying a fee as mentioned in the Schedule of Charges. Please note that you cannot make any such payments for the initial 6 months after the full disbursal of your loan.
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Can I pre-close my Home Loan before completion of the entire tenure I was sanctioned? |
Yes, you can do that post 6 months, provided you clear all your remaining arrears and the loan outstanding and pay a pre-closure fee as mentioned in the Schedule of Charges.
