Home loans are available from bank and housing finance firms (HFCs) starting at 8.40% p.a. for terms as long as thirty years or loan amounts up to 90% of the cost of the house.
- Banks and housing finance companies (HFCs) offer a variety of home loan programmers designed to increase home loan eligibility, lower monthly payments, waive EMIs, offer blended interest rates, and provide overdraft and balance transfer options.
- Some financial institutions additionally provide house loan options for consumers with inadequate income documentation and for those looking for cheap housing.
Top 10 Banks in India for Home Loan | Lower Rates of Interest |
| Name of Bank / NBFCs | Fees (Processing) | Rate of Interest (%) |
| HDFC Home Loan | 0.50% of the loan amount up to a maximum of Rs. 3000 | 8.50% to 9.00% |
| Bajaj Finserv Home Loan | 1.0% maximum of the loan’s amount plus any applicable GST | 8.50% to 14.00% |
| PNB Housing Loan | Between 2,500 and 15,000 rupees, or a maximum of 0.35% of the borrowed amount. | 8.75% to 11.15% |
| HSBC Home Loan | 1% maximum of the total loan amount plus any applicable taxes | 8.60% to 8.85% |
| LIC Housing Finance | A maximum of 1.0% of the borrowed total plus any applicable GST | 8.60% – 10.50% |
| SBI Home Loan | A maximum of 0.35% of the borrowed amount plus any applicable GST | 9.15% – 9.65% |
| Axis Bank Home Loan | A minimum of Rs.10000 and 1% of the borrowed amount are required. | 8.75% – 9.15% |
| Bank of Baroda Home Loan | Rs. 7,500 plus GST | 9.15% – 10.60% |
| L&T Housing Finance | 3% maximum of the total loan amount plus any applicable taxes | 8.60% to 8.75% |
| Aditya Birla Home Loan | A maximum of 1.0% of the loan’s total plus any applicable GST | 8.75% to 14.00% |
| Data source: Open Internet Data | We do not Authentic the same | | ||
Details of Loan Provider and Rate of Interest |
- State Bank Of India: The biggest PSB in the nation, SBI, conducts meticulous property document verification. Rates: SBI Home Loan, however, is known for having the best rates available.
- SBI Home Loan key characteristics include
- Fixed rate home loans are not something they offer.
- Due to the account balance acting as the principle component, the interest paid is reduced as a result. The annual interest rate for highest gain is between 9.55% and 10.05%.
- Interest rates are available at variable rates that range from 9.15% to 9.65% p.a.
- Additionally, they provide a novel service known as SBI Highest Gain Home Mortgage or The overdraft Facility, which allows you to get a home loan in exchange for the extra money in the savings account you have.
- Bank of Baroda: Low and competitive interest rates are available on loans from Bank of Baroda. Only floating rate loans from the Bank of Baroda are available; rates vary between 9.15% to 10.60% per annum.
- The fact that the financing can be authorized before the home for which payment is being requested is decided upon is a major benefit.
- With the use of a specific product called Home Loan Advantage, extra money in a savings account is recognized as loan principal, lowering the interest rate that must be paid.
- The longest possible duration of a loan for a house is 30 years; however, under certain terms and conditions, this term may be increased to 70 years.
- Each and every Home Loan comes with complimentary accident insurance.
- Applications are accepted for microloans up to Rs. 2 lakh.
- If a home loan is obtained from Bank of Baroda, you will also have access to a credit card and receive a 0.25 percent car loan discount.
- The Aditya Birla Investment Group: It funds your endeavour to build your dream house by offering loans with processing fees as low as 1% of the total amount of the loan and interest rate as cheap as 9.00% to 12.50% p.a. Loan amounts between 75% and 90% of the value of the property are available with a repayment duration of as long as thirty years.
- Identity card, address verification, an original copy of the selling deed, a qualification certificate, an audited financial statement, and a P/L statement are required documents.
- Age range for eligibility is 18 to 65.
- Loan amounts between 75% and 90% of the value of the property are available with repayment duration of as long as thirty years. Loan Amount: 5,00,000 Loan Term: 30 Years Loan Amount: 75-90 percent of the cost of the property
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