Before sanctioning home loan banks will check few things like :
Bank CIBIL Scoreill Check
Home loan Sanction time depends on the Customer’s profile and CIBIL record ,bank will check your CIBIL score before sanctioning the loan (Credit information Bureau India Limited),and in case of defaulter bank will reject your Home loan application .
Property is listed or not
If your property is approved and listed with the bank, than you need to submit all the required documents. After submit the entire documents bank will precede your home loan application
Now the bank considers loans subject to viability, If you loan is below Rs.15 lacs than it will take 10 days to sanction the loan and if loan is between 15-30 lacs than it will take 20 days and if loan is above 30 lacs than it will take 40 days to sanction the loan.
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