Home Loan in Chennai
Housing Loan in Chennai
Chennai is one of the biggest cultural and economic centres in South India. Boasting many elite Institutes, Universities and schools and ample career opportunities, Chennai is easily one of the best cities to settle down. To help you in your journey to becoming a homeowner in Chennai, Navi brings you 100% paperless home loans.
Navi offers housing loans in Chennai with attractive interest rates starting from 8.45% p.a. Flexible EMI options and a loan tenure of up to 30 years also makes Navi one of the best home loan companies in Chennai. All you have to do is install the Navi app and apply. Your home loan will be approved in minutes!
The oldest city corporation in India, the city of Chennai is a perfect blend of modern amenities that have traditional roots. Home to the St. George’s Fort and Kapaleeshwar Temple, Chennai is famous for its heritage and culture. This city is known for its several MNCs, IT companies and its automobile industry. As the capital city of Tamil Nadu, Chennai is the centre of art, architecture, innovation and music. The city has a lot to offer to its residents in terms of technological advancements, traditional festivals, cultural shows, etc.
Home Loan in Chennai Details
Navi offers one of the lowest home loan interest rates in Chennai. With Navi home loans, you can enjoy repayment tenures of up to 30 years and flexible EMI options. Here are the details of Navi Home Loan:
| Loan Amount | Up to ₹5 Crore |
| Loan Tenure | Up to 30 Years |
| Interest Rate | 8.45% p.a. |
| Processing Fee | Nil |
Home Loan in Chennai - Features and Benefits
Avail home loans at competitive interest rates starting from 8.45% p.a.
Home Loan in Chennai - Features and Benefits
Home Loan Interest Rate in Chennai With Other Charges
Home Loan Interest Rate in Chennai With Other Charges
Navi provides home loans at attractive interest rates, starting from 8.45% p.a.
Home Loan EMI Calculator
Getting a home loan in Chennai is easy with Navi. However, before getting a home loan, calculate your EMIs in advance. It will help you manage your finances accordingly. You can use the Navi Home Loan EMI Calculator. All you have to do is enter the loan amount, repayment tenure and interest rate. The online EMI calculator will display the result in seconds.
The formula for calculating the monthly EMI manually is:
EMI = P x R x (1+R)^N / [(1+R)^N-1]
In the formula, P represents Principal, R indicates monthly interest rate divided by 100, and N denotes repayment tenure in months.
Where, P = Principal loan amount, N = Loan tenure in months, R = Monthly interest rate
The rate of interest on your home loan is calculated monthly.
For example, if you plan on getting a loan of ₹55 lakh at 7.39% for 30 years, the EMI would be:
EMI = ₹ {5500000 x 0.00615 x (1 + 0.00615)^360} / {(1 + 0.00615)^360-1} = ₹38,043
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Years)
Years
Monthly EMI
0
Total Interest
Total Amount
Home Loan Amortization
| Years | Opening Balance | EMI * 12 | Interest | Principal | Closing Balance |
|---|
How to Apply for Home Loan in Chennai
How to Apply for Home Loan in Chennai
Housing Loan Eligibility in Chennai
Housing Loan Eligibility in Chennai
Documents Required for Home Loan in Chennai
Documents Required for Home Loan in Chennai
- PAN and Aadhaar card
- Bank statement or GST returns
Trusted by Millions of Users
Navi Approved Builders in chennai
Adroit Urban Developers
Arboretum Foundations
BSCPL Infrastructure
Brigade Group
Casagrand
DRA Home
Incor Developers
Jain Housing
KG Builders
LML Homes
Navin's
Olympia Group
Pavani Group
Prime Lifespaces
Radiance Realty Developers
Riseland India
Shapoorji Pallonji
Shriram Properties
Sidharth Housing
Silversky Builders
South India Shelters Pvt. Ltd.
Stellar Developer
TVS Emerald
Urbanrise
Voora
Apna Ghar Zaroor Hoga
Enjoy attractive interest rates starting at 8.74% p.a. with flexible EMI options.
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Frequently asked questions
A home loan serves the primary purpose of purchasing a property or facilitating a home’s construction. Having said that, there are different types of home loans that are taken for various purposes, such as:
- Purchase of readymade home
- Purchase of land
- Home expansion or extension
- Home construction
- Home renovation
- Home conversion
A co-applicant in a home loan is an individual who is jointly responsible for repaying the home loan just like the primary borrower. A lender will also consider the income and CIBIL score of the co-applicant before approving the loan.
Co-applicant has to be a blood relative or immediate family member. Up to six co-applicants are allowed per home loan application. The following people can be co-applicants in a joint home loan:
- Father
- Mother
- Spouse
- Sister, who is an adult
- Brother, who is an adult
- Son, who is an adult
- Daughter, who is an adult
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