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How To Take Loan Against Old House? [₹500000 Instant loan Required]

Last Updated: February 13, 2023

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Loan Against Old House: If you also want to take an instant loan of ₹ 500000 to ₹ 2000000 from the old house, then you have come to the right post. At present, most of the people are those who are living in their old houses. requires maintenance. Due to the time, some people think of taking a loan from the bank to convert their old house into a new house.

If you read this article till the end, then you will be able to get detailed information about how to get loan against old house, what is the eligibility criteria to take loan, which banks provide facility to give loan against old house.

Apart from this, how to take loan on old house, etc. will give other information in detail, so keep reading this article with us till the end.

How To Take loan Against Old House?

Loan against old house can be taken from the finance company at home keeping an eye on the construction of a new house, for repairs, or in the midst of any medical emergency. On taking a loan from the bank, you will have to fulfill all the necessary documents and the eligibility criteria set by the bank, then only you will be able to take the loan, nowadays some banks provide the facility of home loan sitting at home, with the help of which you can apply online.

If you do not know what is a home loan, then you can read our article:

Which Banks Give loan Against old House?

When you are thinking of taking a loan against an old house, it is also necessary to know which banks are providing the loan against the old house, and how to apply for the loan. Let’s get to know about it:

Loan against old house Both government and private banks provide loan, this loan is given to you under Home Renovation Loan or to build a new house. Here we have given the names of some banks which can be used on old house Loan can be taken.

Sr No	Bank Name
1	SBI bank Of India
2	PNB bank
3	Kotak Mahindra bank
4	Bank of Baroda
5	IDBI Bank
6	Indian bank
7	HDFC bank
8	Axis Bank
9	ICICI bank
10	IPPB Bank
11	UCO Bank
12	Indian bank
13	Utkarsh bank
14	Canara bank
15	Bank of Maharashtra
16	Idfc bank
17	Bank of Baroda
18	Yes Bank
19	Federal Bank
20	Ujjivan bank
21	City Union Bank
22	Surodaye bank
23	Bank of India
24	Union Bank of India
25	Central Bank of India
26	Indian Overseas Bank
27	Bank of Maharashtra
28	Punjab & Sind Bank
29	IndusInd Bank
30	Karnataka Bank
31	Karur Vysya Bank
32	City Union Bank
33	Federal Bank
34	Dhanalakshmi Bank
35	Jammu & Kashmir Bank
36	Tamilnad Mercantile Bank
37	United Western Bank
38	South Indian Bank
39	RBL Bank
40	Nainital Bank
41	CSB Bank
42	IDFC First Bank
43	Bandhan Bank
44	DCB Bank
45	Yes bank
46	Oriental Bank of Commerce
47	Syndicate Bank
48	United Bank of India
49	Gramin Bank
50	Cooperative Bank

How to Get loan Against old House?

To apply for loan against old house, first of all you go to any one of the above given banks and there you can register your house, application form, Aadhar card, pan card, income certificate, last 3 months bank statement etc. Submit other documents. After this the bank will provide the loan amount in your bank account from 70 to 80% of the value of your house.

Eligibility for Old House Loan

If you are thinking of taking a home loan, then you will have to follow some terms and conditions, only then you will be able to get a loan from the bank easily.

First of all, you should have the original house registry.
You must be an Indian citizen.
Your age should be between 18 years to 70 years.
You should not be a defaulter in any bank.
You should have some source of regular income.
If you do a job then you should have more than 2 years of work experience.
If you are Salary Employed then your business should be more than 3 years old.
Applicant’s monthly income should be minimum ₹25000.
You must have KYC documents like Aadhar Card PAN Card.

Note ⚠: The bank will offer the loan only after verifying other information like credit history, credit score, actual price of the house, etc. as per its terms and conditions. Therefore, before taking a loan, prepare all the documents. Please read the terms of condition, interest rate, late fee etc. given on the application form carefully so that no problem may arise later.

Documents Required for Taking loan Against old House

If you are taking a loan against an old house, then it is very important for you to have these documents which are as follows:

Application form given by bank
land registry papers
Address Proof: Aadhar Card, PAN Card, Voter ID Card, Driving License (Any One)
KYC Documents: Aadhar Card, Pan Card
income certificate
Latest last 6 months bank statement.
Bank account number
Passport size photo
Civil score detail report
Salary slip if working
IPR slip if you run business
Birth Certificate: To know whether your age is between 18 years to 70 years. This is optional.
A signature has to be done.

How to Apply for Old Home loan Online?

Nowadays, to take home loan on old house, State Bank of India gives facility to apply for PSB Loan 59 Minute online. You can choose the steps given below to take home loan online.

Remember ⭐: We have provided you a list above with the help of which you can take a home loan for construction of your house, for repairs, for decoration or in case of any medical emergency.

👉 To apply for home loan online from home, first of all visit psbloansin59minutes.com.

👉 After this, you have to create your account by verifying your name, email id, mobile number and OTP.

👉 Now you will take your new password and sign in.

👉 After this, the option of Business Loan and Home Loan will appear in front of you, then you will choose Home Loan.

👉 After this, we will click on the Checkbox on the Terms of Condition.

👉 Upload your bank statement and income tax ITR file.

👉 After filling all the other information like your name, email address, mobile number, etc. click on Procced.

👉 After that click on Home Loan and link your bank account

👉 Now you just wait till the loan is approved, as soon as the loan is approved, after that within 1 week you will get the loan amount in the bank account.

How Much will you Get A Home loan on An Old House?

This question often comes in the mind of most of the people that how much home loan can be availed on the old house, so for your information, let us tell you, before giving the bank loan, the registry of the land, the location of the land, the credit score of the applicant, etc. Gives the facility of giving home loan only after checking it. If your land is on the side of the road, then the bank will provide you more loan amount and if your land is in a village or rural area, then you will get less loan.

Example:

Suppose your house is in an urban area and is close to the road, then the bank will easily provide loan amount ranging from Rs.35 lakh to Rs.37 lakh depending on the location of your house. It will only be determined by the bank that how much loan you will get from the bank.

Conclusion

Today we have told you how to take loan on old house, information about which banks provide loan on old house has been provided in detail and after much research.

If you have taken home loan from bank or finance company then what are the problems you have to face.

From which bank have you taken home loan? You can tell us about this in the comment box.

And you can also tell how did you like today’s information.

FAQ – Loan Against Old House

Q1. What is the age required to get a home loan?

At present, individuals in the age group of 18 years to 70 years can apply for a home loan.

Q2. Can I get a home loan?

Yes, you can take home loan. To take a home loan, you can apply to the bank under home loan.

Q3. I need home loan immediately?

To get an instant home loan, you can take advantage of the psb59 scheme offered by State Bank of India, where the facility of applying for the loan online is available, this facility can be availed sitting at home.