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Top 5 Tips to Ensure High Success on Home Loan Approvals in India

You have been hunting for your dream house for months on various websites, and NOW you have found the property which you can call your DREAM HOUSE. Congratulations on the house! Now you just have one more hurdle to cross – getting approvals for the home loan.

Bhubaneswar, the present capital of Odisha has raised its real estate growth remarkably and offers beautiful properties at a very affordable price range. If you are thinking of 2,3 BHK flats in Bhubaneswar – that’s a great idea as in the future your asset will be much more valuable than its cost price. Though this decision probably can be the biggest financial transaction of one’s life, banks are ever ready to support the same with bank loans!

Meeting the soaring prices of residential properties seems impossible without a home loan. Thankfully, applying for home loans are easy nowadays but be cautious as a simple mistake can turn down your home loan application. Let’s know the measure that plays an important role:

Tip 1: Maintaining a Good Credit Score 

This represents your track record and credit worthiness. Maintaining a good credit score i.e. CIBIL score over 750 will avail your home loan at a better interest rate. Some ways to improve credit score:

  1. Do not default on your existing loans.
  2. Do pay your credit card dues and loan EMIs by the due date.
  3. Don’t have too many loans at a time.
  4. Do not just pay the minimum amount due on your credit card.
  5. Try not to max out on your credit card every month.

Tip 2: Applicant’s Age

It matters highly due to the cash flow criteria, if a person is close to retirement or old age the chances are lower. The banks mostly prefer the age group between 30 to 50 years due to their financial stability. If you’re young and ready to buy residential flats in Jharapada of Bhubaneswar, Krishna Laxmi Arcade can be one such amazing investment!

Tip 3: Be Document Ready 

Lack of requisite documents or minute mismatch is another common reason for home loan rejection. Thus, be prepared with the following documents beforehand.

  1. Credit score details.
  2. Identification proof such as Aadhar card or Voter ID.
  3. If salaried – salary statement and IT documents for the last three years.
  4. If self-employed – revenue statements, IT returns, GST filings records for the last three years.
  5. NOTE: Be specific about the signature in the application and proofs.

Tip 4: Longer Repayment Period 

Banks prefer borrowers opting for longer repayment tenures. It’s safe for the borrower too as it brings down monthly EMIs and reduces stress on monthly expenses. In the long run, when you get surplus funds, make prepayments and close the loan before maturity.

Tip 5: Deal with a Reputed Property Developer

Real estate is a bit tricky, and banks prefer borrowers who deal with trustworthy and reliable property developers. With reputed developers, there’s a high chance of project completion before the deadline and that too without any legal trouble.

Krishna Laxmi Arcade, which offers 1, 2 and 3 BHK flats in Jharapada, Bhubaneswar, is one such project running under the supervision of the renowned developer Krishna Group. The builders can even help you with the bank loans with their bank partners. It’s one of the trusted builders in Odisha.


Hope the tips mentioned above can ease your home buying process via different banks. With these tips, you can buy a property without much hassle and enjoy living a lifestyle that you wished for your family. Lastly, for the best option of 1 or 2 BHK flats and apartments in Jharpada Krishna Laxmi Arcade is unbeatable!

Explore our website https://krishnalaxmiarcade.com/ or call us at (91) 82600 11011 (Toll Free) for details.