While availing for a home loan, it is necessary to get a home loan sanction letter from a bank or a financial institution such as an NBFC (Non-banking financial company) or HFC (housing finance ...

within which the loan has to be disbursed. The validity period of a sanction letter is usually six months. Once it expires, you will have to go through the entire home loan application process again.

Some lenders take just up to 48 hours after application to issue the letter. Typically, it takes a week. Federal Bank, for instance, takes between three and 14 days to sanction a home loan.

you will receive a loan sanction letter. This letter outlines the home loan amount, interest rate, tenor, and other terms and conditions. Review this offer carefully. Once you accept the terms, the ...