Construction-Home-Loan - NGC Financial Service

Construction Home Loan

A Construction Home Loan is a financial product that supports individuals or developers in building a home or property from the ground up. This type of loan differs from a regular home loan as it provides funds incrementally based on the stages of construction rather than as a lump sum. The loan helps manage the costs of materials, labor, permits, and other expenses involved in building a home.

Stage-by-Stage Disbursement: The loan is released in phases, typically tied to the progress of the construction project. For example:

Foundation Stage: The first disbursement occurs once the foundation is laid.
Framing Stage: The second disbursement occurs after the structure is framed.
Completion Stages: Additional disbursements follow as the roofing, plumbing, electrical, and finishing touches are completed.

165+

YEARS OF EXCELLENCE

3.8+ Cr.

ACTIVE CUSTOMER BASE

1300+

BRANCHES ACROSS INDIA

₹3.9 Lakh Cr

AUM AS OF JUNE, 2023

Reasons to Buy your Construction Home Loan from NGCFCL Finance Limited

No Branch Visits

No Branch Visits
Apply from home and our team will collect the required documents from your home or office for a seamless experience.

Collateral-free Loans

Collateral-free Loans
Get the loan without the need for collateral. Share key details and receive instant approval for business growth.

Instant Loan Disbursal

Instant Loan Disbursal
Get instant disbursal, thanks to our efficient online processing

Convenient Online Application

Convenient Online Application
Apply online in just three simple steps. No need to wait for months or go anywhere.

Tailored Repayment Options

Flexible Tenure
Tailor your repayment plan to suit your financial goals with our flexible tenure options, ranging from 12 to 36 months.

Lightning-fast disbursal

Average disbursal time = 2 days Fastest loan disbursal ever = under 10 minutes

No Need to Open a Bank Account

Skip the hassle of opening a new current account

100% Digital Process

Zero documentation and branch visits

Affordable interest rates

Starting from 15.99% Per Annum

No collateral is needed

Accelerate business growth with unsecured funding

Eligibility Criteria for Construction Home Loan

Go through the financial and non-financial eligibility criteria explained below to make your loan application process easy:

Non-Financial Eligibility Criteria	Financial Eligibility Criteria
25-67 years old	For > Rs. 10L, GST Turnover > 2cr**
Established for a minimum of 2 years	Business profitable for 2+ years
CIBIL score should be 680 or higher	No LIVE Overdraft facility
Office set up with name board	6 months bank statement***
On-time GST3RB and GSTR1 filings
Active and regular GST for more than Rs. 5 Lacs*

Non-Financial Eligibility Criteria

Financial Eligibility Criteria

25-67 years old

For > Rs. 10L, GST Turnover > 2cr**

Established for a minimum of 2 years

Business profitable for 2+ years

CIBIL score should be 680 or higher

No LIVE Overdraft facility 

Office set up with name board

6 months bank statement***

On-time GST3RB and GSTR1 filings  

Active and regular GST for more than Rs. 5 Lacs*

Documents (Digitally fetched) Required for a Construction Home Loan

Completing the Construction Home loan applications carefully is crucial for entrepreneurs to increase their chances of approval. So, what are the documents required for a Construction Home Loan? Here’s the list of documents required for a Construction Home Loan application for different types of businesses:

Type of Loan Documents	Sole Proprietors	Individual Business Owners
Current Account Bank Statement for the Last 6 Months	The entity name on the bank statement should match the name on the business proof submitted.	The business owner's name on the bank statement should match the name on the business proof submitted.
Business Proof Documents	1. GST Form 2.1. If the GST Form is >= 24 months old, either an Udyam Registration Certificate (URC) or any 1 of the following documents needs to be submitted: FSSAI Shop Act License Medical Council of India ICAI – Certificate of Practice ICSI – Certificate of Practice Import Export License 2.2: If the GST Form is less than 24 months old, then URC is mandatory	1. Udyam Registration Certificate (URC) 2.1. If the Udyam Registration Certificate is less than 24 months old, any one of the following documents needs to be submitted: FSSAI Shop Act License Medical Council of India ICAI – Certificate of Practice ICSI – Certificate of Practice Import Export License Note: The issued date of the document chosen from this list should be >= to 24 months.
KYC Document	Aadhaar Card PAN Card	Aadhaar Card PAN Card

Type of Loan Documents

Sole Proprietors

Individual Business Owners

Current Account Bank Statement for the Last 6 Months

The entity name on the bank statement should match the name on the business proof submitted.

The business owner's name on the bank statement should match the name on the business proof submitted.

Business Proof Documents

1. GST Form

2.1. If the GST Form is >= 24 months old, either an Udyam Registration Certificate (URC) or any 1 of the following documents needs to be submitted:

FSSAI
Shop Act License
Medical Council of India
ICAI – Certificate of Practice
ICSI – Certificate of Practice
Import Export License

2.2: If the GST Form is less than 24 months old, then URC is mandatory

1. Udyam Registration Certificate (URC)

2.1. If the Udyam Registration Certificate is less than 24 months old, any one of the following documents needs to be submitted:

FSSAI
Shop Act License
Medical Council of India
ICAI – Certificate of Practice
ICSI – Certificate of Practice
Import Export License

Note: The issued date of the document chosen from this list should be >= to 24 months.

KYC Document

Aadhaar Card
PAN Card

Aadhaar Card
PAN Card