(Ques) I am a salaried person; my annual income is around 6 lakh. I am planning for a home loan but the problem is that I don't have any money for down payment. Can you tell me some specific banks to be approached for a home loan without a down payment? If I can get a loan then please tell me if there are any special conditions for that sort of loan. Also what may be the interest rates on the loan and anything else of importance regarding my case?
(Ans) I am not aware of any banks, which offer 100% home loans. Some projects do offer such deals in conjunction with banks, but then you have to purchase the house in that specific project only. You could also opt for a personal loan to cover the down payment.