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HOME LOAN

Apply Home Loans in Eazy Bank Loan

Now numerous banks can provide a different range of home loans as per your specifications and requirements. So, it's up to you to compare the interest rates of home loans and choose the best offer from all the leading banks and financial institutions. All the home loan interest rates are varying from one another and the rates are varied according to the external benchmark rate of new RBI guidelines.

If you are searching for the best home loan and want to compare the home loan provided by the different banks and financial institutions, then connect with the professionals of Eazy Bank Loan. All of its professionals can provide you details of home loans in transparency, integrity, and excellence form.

Go through the Eazy Bank Loan website to get all the details about the home loans provided by the different banks and financial institutions. You can apply for a home loan on the website by filling the loan application. We can provide home loans of low interest rates and processing fees, no hidden costs and pre-payment penalty, and many more.

When you apply for home loan, follow the below guidelines to choose the most beneficial one.

  • Check the best offers of SBI, HDFC, Canara Bank, PNB bank, Axis bank, etc.
  • As per the guidelines of RBI, choose the one who has linked their home loan rates to the RBI repo rate. Under the repo rate of RBI, the home loan rate will cut for borrowers and vice-versa.
  • According to the guidelines, the existing home loan borrowers will be given an option to shift to the new regime.

Get the Best Housing Loan/Home loan in India From Different Banks with Interest Rate

When you are choosing the home loan, you must compare the interest rates of different banks and financial institutions. Before finalizing the housing loan, check the interest rates for salaried and self-employed individuals. The loan lenders can offer different rates of interest as per the loan amount. Before applying for the home loan, don't forget to calculate the home loan EMI by taking the help of the EMI calculator.

On the other hand, knowing the home loan interest rate in advance can help you to determine the home loan EMI and plan out the repayment policies in a better way. By using the EMI calculator one can determine the total payable interest of the loan as well as its cost. In the calculator, you only need to enter the housing loan interest rate, principal, and the tenor of the loan EMI.

Whenever you apply for a housing loan, choose any of the interest rates such as fixed-rate and floating-rate as per your requirements. The best significance of floating rate interest is, it has zero charges on the foreclosure or part-prepayments. You can reduce the home loan interest rates by transferring the existing loan, performing the part-prepay, and increase the EMI of payable loans.

Bank Interest Rate Interest Rates for Women Processing Fee
7.90% - 8.55% 8.60%-9.35% 0.35 % of loan amount and maximum 10,000 +GST Apply
8.00%-8.95% 8.70%-9.60% Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes. Apply
Apply
8.45%-9.20% NA Up to 1.00% of the loan amount + GST Apply
8.05% - 10.05% 8.75%-8.90% 0.5% of the loan amount + GST Apply
8.10% - 8.95% NA Upto 1crore: - 0.25Paise+GST or 10000+GST which ever is less.
More than 1crore 25000+GST.
Apply
7.90% - 8.70% 8.65%-8.75% Nil processing fee till 31.03.2019 Apply
9.25% - 12.00% NA ₹10,000 + GST Apply
9.20% - 9.35% 9.00%-9.40% As applicable Apply
9.05% - 11.15% NA Up tp 1.20% of the loan amount + GST Apply
8.40% - 9.40% NA Up to 0.50% of the loan amount or a maximum of ₹7,500 + GST Apply
8.85% - 9.50% NA Up to 1% of the Loan amount subject to minimum of ₹10,000
Upfront processing fee of ₹2500 plus GST
Apply
8.25% - 8.80% 8.75%-9.10% 0.50% of loan amount to a maximum of ₹2500 + GST Apply
9.05% - 12.15% NA Upto ₹10,000 + GST Apply
8.55% - 8.70% NA 0.50% of the loan amount to a maximum of ₹7,500/- + GST Apply
8.90% NA Zero processing fee for online application. (Upto 1.25% of Loan amount for offline application) Apply
8.00% - 8.15% NA As applicable Apply
9.21% NA ₹10,000 + GST Apply
8.15% - 8.50% NA 0.125% of loan amount or a maximum of ₹5000 + GST Apply
10.10% NA 0.5% of the loan amount or a maximum of ₹10000 + GST Apply
9.00% - 9.85% NA Up to 0.40% of the loan amount + GST Apply
Apply
8.80% - 11.05% 8.80%-11.05% 0.50% of the loan amount to a maximum of ₹15000 + GST Apply
Apply

Home Loan EMI Calculator

By using the home loan EMI calculator, you can easily and simply calculate your loan EMI. For calculating the loan EMI, you have to put the loan amount, loan tenor, and rate of interest in the loan EMI calculator. By using the EMI calculator you can get several details about the home loan such as total interest payable, loan EMI per month, and total payments.

For calculating the loan EMI, you need to use the following mathematical formula. Such as:

[P*R*(1+R)^N]/[(1+R)^N-1]

P defines the principal amount, N defines the number of monthly installments you have to pay in your loan and the R defines the interest rate per month. By taking the home loan calculator, you can easily calculate the EMI of your home loan in advance that would need to spend every month. For calculating it, you have to go to the housing loan EMI calculator page of the website and put all the details for calculating it efficiently.

Through the house loan calculator, you can determine whether you able to fulfill the home loan EMI within the loan tenure or not. According to your specifications, you can either increase or decrease the loan EMI amount according to the loan amount you have taken.

Enter Loan Information

Select Bank Name: *
Select Loan Type: *
Loan Amount: *
Annual Interest Rate: *
Loan Tenure(Year): *

Check Top Home Loan Offers in India

Many people are unable to buy their dream home due to several factors without a home loan. But before that, they need to search about the top home loan lenders in India who offer home loans at a low interest rate. Apart from the interest rates, the home loan in India considers many aspects before approving. Such as:

  • Processing fees
  • Home loan eligibility
  • Repayment options
  • Part or full repayment

So, when you apply home loan check out the special offers provided by the different banks and financial institutions. Including all the offers, check out the interest rates and processing fees for calculating the EMI easily and efficiently. All the processing fees and interest rates of the home loan vary with a bank to a bank. Check all the eligibility of the home loan before applying it to a bank because without fulfilling the eligibility of the loan application may reject it

Before finalizing the home loan from any of the banks or financial institutions, first compare home loans provided by them with the documentation, interest rate, loan tenure, and eligibility criteria. Check all the home loan details of the banks and choose the most useful among them accordingly.

SBI Bridge Home Loan – Best for Short-Term Requirements

Now SBI can offer SBI bridge home loans for all the homeowners who want to upgrade their homes either for bigger homes or for better locations. These loans will help them to mitigate a shortfall of funds so that the customers can avoid all the distressed sale of their existing homes.

Key Highlights
  • Low interest and purchasing rates
  • Interest charges are reducing on daily balances
  • Customers can repayment it up to 2 years
  • Minimum and maximum age requirements of payment are 18 to 70 years.
Interest Rate Interest Rates for Women Processing Fee
7.90% - 8.55% 8.60%-9.35% 0.35 % of loan amount and maximum 10,000 +GST Apply
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HDFC Ltd. Home Loan for Purchase

HDFC Ltd can offer high-quality home loans with the low EMIs starting interest and help you to create a space of your own home loan with HDFC. These home loans are tailored made of salaried individuals because they can provide the bank with an attractive rate of interest and a longer tenure. HDFC Ltd home loan can also offer legal and technical counseling to help you to make the right home buying decision.

Key Highlights
  • HDFC home loans can provide customers with low-interest rates.
  • Taking loans for purchasing flat, bungalow, rowhouses from private developers
  • Apart from the low-interest rates, it also offers comfortable home loan EMI.
  • Offer the longer tenure and doorstep service for turning your dream home into a reality.
Interest Rate Interest Rates for Women Processing Fee
8.00%-8.95% 8.60%-9.35% 0.35 % of loan amount and maximum 10,000 +GST Apply

IIFL (India Infoline Finance Limited) Home Loan

Have you been planning to move into your own home, then getting a home loan from IIFL (India infoline finance limited) is very quick and simple? It doesn’t matter whether you are salaried or self-employed, you can get a home loan with competitive interest rates with faster processing and affordable EMIs to make it a perfect choice.

Key Highlights
  • Indian citizens between the ages of 18 to 75.
  • Quick & hassle-free loan with affordable EMIs
  • Quick & hassle-free loan with affordable EMIs.
  • Attractive interest rates @8.70% onwards
Interest Rate Interest Rates for Women Processing Fee
Apply
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ICICI Home Loan

Buying a house is always a dream for many because it involves a lot of financial planning. To make the process easier, ICICI banks can provide loans in a simple way for those who want to fulfill their home dream. Thus the ICICI home loans can offer you the best home loan solutions and information which is related to either purchasing/construct a new home or renovating the existing one.

Key Highlights
  • Provide low EMIs with loan feature of up to 30 years
  • Easily track the current status of the loan application
  • Subsidy benefits for the first-time homebuyers
Interest Rate Interest Rates for Women Processing Fee
8.45%-9.20% NA Up to 1.00% of the loan amount + GST Apply

Indian bulls housing finance home loan

A home loan can bring the joy of your own home and building memories in a place that would seem to be special. India bulls housing finance can provide home loans that can provide the most convenient loan at the effective interest rates. Provide the tailor mode loan solution to celebrate the joy of own home.

Key Highlights
  • Instant sanction and speedy processing of loans
  • A simple and hassle-free process with attractive interest rates
  • Easy documentation and online disbursal of application.
  • Flexible repayment options with no hidden charges.
Interest Rate Interest Rates for Women Processing Fee
9.25% - 12.00% NA Up to 1.00% of the loan amount + GST Apply
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Tata capital home loan

Our heart is placed in our home, so owning a home is the biggest milestone in life. Tata Capital to provide tailored home loans for the people above 24 years of age. You can borrow the loan at 24 years of age and need to complete the home loan at the time of 65. On the other hand, you should earn at least 30,000 per month for approving the loan with 2 years of experience.

Key Highlights
  • Provide an ideal solution for all of your home loan requirements.
  • Available quickly and easily with an interest rate of 9.25% tenure up to 30 years.
  • Use effective tools and calculators to offer you a seamless buying experience.
Interest Rate Interest Rates for Women Processing Fee
9.20% - 9.35% 9.00%-9.40% As applicable Apply

Bajaj Finserv home loan

When you are looking to purchase your first home or construct a new one as well as renovate your current one, then the Bajaj finance home loan can meet all your home loan requirements. It can provide home loans with the lowest rate of interest with reduced EMIs up to 50% of your sanctioned home loan amount.

Key Highlights
  • Get a home loan with added features like additional top-up loan and doorstep service.
  • Refine the existing home loan with faster processing and minimal documentation.
  • Flexible tenors ranging up to 240 months that can fit your repayment capacity.
  • Customized insurance schemes to protect the family from the burden of home loans.
Interest Rate Interest Rates for Women Processing Fee
9.05% - 11.15% NA Up tp 1.20% of the loan amount + GST Apply
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Bank of Baroda home loan

Bank of Baroda can provide low-interest bank loans that are best in the market without having any differentiation. Bank can provide you the home loans with a principle approval from its higher authority that would be prior to the identification of a specific house or plot by a prospective application of the home loans.

Key Highlights
  • A sanctioned home loan will be linked with saving bank account
  • Home loan borrowers can get a concession of 0.25% in ROI for car loans
  • Rate of interest applicable for the SB account will be zero
  • Tenure of the loan will be last up to 30 years
Interest Rate Interest Rates for Women Processing Fee
8.40% - 9.40% NA Up to 0.50% of the loan amount or a maximum of ₹7,500 + GST Apply

IDBI home loan

Owning your home is always seems to be life's biggest aspirants, so the IDBI bank can provide a home loan solution that is designed to offer you convenience loans and make your home dream a pleasant one. Our home loan solutions can fulfill your home requirements in a customized manner.

Key Highlights
  • Assistance in property search and diligence of property for acquisition.
  • Loan approval even before the property is selected.
  • Customized loan features for salaried individuals.
  • Flexible loan repayment and installation option with tranche based EMI
Interest Rate Interest Rates for Women Processing Fee
8.25% - 8.80% 8.75%-9.10% 0.50% of loan amount to a maximum of ₹2500 + GST Apply
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IDFC first bank home loan

Home is the biggest investment purchase in an individual's life. At IDFC's first bank, you can get the home loan which is financially helpful for most people. With the IDFC bank loan, you can buy a flat or home without having to worry about putting a huge down payment. On the other hand, it is also applicable for both the salaried and self-employed individuals.

Key Highlights
  • Simple and hassle-free loan processing with the minimum turnaround time.
  • Loans up to 90% of the property cost can be based on eligibility.
  • The terms of the loans can be secured against residential properties.
  • Pre-approved loans can be defined as per the requirements without any hidden charges.
Interest Rate Interest Rates for Women Processing Fee
9.05% - 12.15% NA Upto ₹10,000 + GST Apply

Federal bank home loan

Get hassle-free home loans from the federal bank to make your dream into reality. The federal bank can provide housing loans at competitive interest rates for construction of the house, acquisition of land and renovation of the existing houses as well as purchase the house plot for the subsequent construction of the house.

Key Highlights
  • Speedy loan approval up to 85% of the project cost
  • Minimal paperwork with a longer repayment period of 30 years
  • Repayment of the loan can be done as easy EMIs
  • Security for the loan will be a mortgage of land and building
Interest Rate Interest Rates for Women Processing Fee
8.55% - 8.70% NA 0.50% of the loan amount to a maximum of ₹7,500/- + GST Apply
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Kotak Mahindra bank home loan

Get closer to your dream of the home by choosing the home loan plans tailored by Kotak Mahindra bank. The bank will provide you a bouquet of customized home loan plans and offer you a seamless and pleasurable home-buying experience. Through the sanction of 75% to 80% of the property cost the house loan borrowers can go one step closer towards their dream home.

Key Highlights
  • A loan is paid back in equated monthly installments.
  • The amount payable per EMI depends on the tenure of the loan interest rate
  • Provide attractive interest rates along with extended insurance policy
Interest Rate Interest Rates for Women Processing Fee
8.90% NA Zero processing fee for online application. (Upto 1.25% of Loan amount for offline application) Apply

United bank of India home loan

With the united bank of India home loan, the shelter of your dream home will be a reality at most attractive terms. The united bank of India can provide home loans for several purposes such as purchase, construction, extensions, repair, renovation and furnishing of your residential house/ flat including the purchase of land.

Key Highlights
  • Supplementary financing option to complete the financed project.
  • The repayment period of the loan is a minimum of 10 years and exceeds at least 5 years.
  • Construction of 3rd-floor interest rates will be more than the rate of 1st and 2nd unit.
Interest Rate Interest Rates for Women Processing Fee
8.00% - 8.15% NA As applicable Apply
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Standard charted bank home loan

Standard charted banks can give you home loans to finance your dream home. Home loans provided by the bank can visualize your home with attractive interest rates starting at 9.21% per annum. Charted banks can provide home loan faster with the doorstep service. If you have any issues related to the loan, then you can contact through a wide network of branches.

Key Highlights
  • Home loans of up to Rs.35 crore with flexible tenure repayment up to 25 years.
  • Provide EMIs with simplified balance at reduced rates with the top-up facility.
  • Cashback facilities on home loans and get rewarded up to 2% cashback.
  • Refinance on payments within 6 months of property purchase under the loan.
Interest Rate Interest Rates for Women Processing Fee
9.21% NA ₹10,000 + GST Apply

Syndicate Bank

One of the lowest EMI charged home loan provider is the syndicate bank. Syndicate banks can offer the home loan with the tenure up to 30 years as well as the lowest rate of interest that would be lead to 8.15%. It can charge the EMI which is consists of both interest payment and principal repayment and based on the loan amount, loan tenure and the interest rates.

Key Highlights
  • Loan available for both the salaried and self-employed.
  • Borrowers need to between the age group of 21 and 60 years.
  • Loan ranges can tenure from the 5 to 30 years.
  • The interest range can be started from 8.15% to 8.75%.
Interest Rate Interest Rates for Women Processing Fee
8.15% - 8.50% NA 0.125% of loan amount or a maximum of ₹5000 + GST Apply
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Yes Bank Home Loan

Without worrying about the financial constraints, the Yes bank can provide home loans to realize your home dreams. The home loan provided by the bank to the individual borrowers at a given rate of interest to be paid back with an equated monthly installment. Provide flexible loan tenures at competitive interest rates that meet your financial requirements

Key Highlights
  • Tailor mode of loan programs to ensure desired loan eligibility
  • Hassle-free transfer of the loan from existing financiers by reducing the EMIs.
  • Attractive interest rates to avail the loan up to 35 years.
  • Quick processing time to obtain a faster and efficient home loan.
Interest Rate Interest Rates for Women Processing Fee
10.10% NA 0.5% of the loan amount or a maximum of ₹10000 + GST Apply

Citibank Home Loan

If you are like to find your dream home, then choose one of the home loan options provided by the Citi bank. The bank can allow you to make your dream home into a reality with the extensive loan features, competitive interest rates and designed to suit your home finance needs. In this way, you can avail of the interest savings for withdrawal and faster repayment.

Key Highlights
  • Easy home loan up to Rs.10 crore with attractive interest rates.
  • Flexible repayment options of tenure up to 25 years
  • Home loans approved up to 80% of the property value.
  • Get flexibility in interest payment during the construction period.
Interest Rate Interest Rates for Women Processing Fee
9.00% - 9.85% NA Up to 0.40% of the loan amount + GST Apply
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DBS bank home loan

Buying a new house or investing in a dream residence can be stressful for individuals, but the DBS bank can provide home loans which would make all your dreams come true. The bank can provide attractive interest rates, transparent charges, easy repayment options, quick processing, and many more attractive features.

Key Highlights
  • Doorstep service can be provided with a wide range of several home loan products.
  • Ensure to smooth & easy processing of loan application.
  • Loan approval can be performed before a property is selected.
  • Transparent dealing with no hidden costs with safe document storage.
Interest Rate Interest Rates for Women Processing Fee
Apply

ISFC Home Loan

ISFC can provide several bank loans to make your funding requirements better. The bank can fulfill the funding requirements of your home building in a defined exclusive segment. All of the home loan methodologies of the ISFC bank can improve your purchase and construction requirements to meet your growing expectations.

Key Highlights
  • Secured the loan from 15 lakhs to 2 crores.
  • EMI options provided by the bank can last up to 84 months.
  • No foreclosure charges can last up to 25% of the loan payment.
Interest Rate Interest Rates for Women Processing Fee
Apply
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Canara Bank Housing Loan – Best for Long Term Requirements

Housing loans provided by Canara bank make sure that the person does not feel burdened in paying their loan EMI. But there are certain factors or criteria are stipulated by the bank itself that need to be satisfied before the loan applications are approved because the loans are provided for the long term in a huge amount with a stipulated interest rate.

Key Highlights
  • Indian citizens between the ages of 18 to 75.
  • Minimum salary needed for approving the Canara bank loan is Rs. 25,000.
  • Depending on your repayment capacity, the housing loans are approved.
  • Age criteria for the loan approbations are a minimum of 21 years and maximum of 60 years.
Interest Rate Interest Rates for Women Processing Fee
8.05% - 10.05% 8.75%-8.90% 0.5% of the loan amount + GST Apply

Axis Bank Home Loan – Best Interest Rate for Salaried Employees

With the axis bank home loan, you can fulfill your dream of owning a home because the bank offers home loans starting at 3 Lakhs. The home loans are coming with a host of benefits which have smaller EMIs that you can space out your payments over the longer tenure, easy application process, attractive interest rates, doorstep service, etc. Find more details about the home loans through the below steps.

Key Highlights
  • In the home loan eligibility criteria, government or reputed companies permanent individuals are considered.
  • Application should be submitted by the age of above 21 years and end up to the age of 60. Check the amount you have to pay as EMI with the home loan EMI calculator.
  • For all the financial applicants Aadhar card and PAN card is mandatory
Interest Rate Interest Rates for Women Processing Fee
8.85% - 9.50% NA Up to 1% of the Loan amount subject to minimum of ₹10,000 Upfront processing fee of ₹2500 plus GST Apply
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Canara Bank Housing Loan – Joint Home Loan

Joint home loans provided by Canara banks are for constructing a house/flat, purchasing the ready to built house/flat. In this way, the loan amount of purchase is restricted to 60% of the sanctioned loan amount. Canara bank also provides housing loans for repairs, renovation, up-gradation and other additional amenities of home. For confirming the loans, you have to eligible for the below key highlights.

Key Highlights
  • Individuals engaged in business and self-employed persons for a minimum period of 3 years.
  • Consequently, the salaried individuals should be confirmed in the service with a minimum service of 3 years.
  • Individuals above the age of 60 are also eligible for certain loan stipulations.
  • At the time of availing the loan, the entry age of borrowers should be less than 60 years.

PNB HFL Home Loan for self-employed/businessman

Home loans PNB HFL define the housing finance loan offered by the Punjab National bank to the individuals who want money to purchase a house, home extensions and home renovations, etc. According to the PNB HFL home loan criteria, the home itself acts as a security to the loan and provides the best interest in the market. Below points define the key highlights of taking home loans from PNB.

Key Highlights
  • Doorstep service and quick processing of the loan application.
  • Get an opportunity to perform multiple repayment options.
  • Housing loan rate of the PNB HFL is depended on the loan amount you apply for.
  • Also offers differential rates for women borrowers under their fixed and floating rate schemes.
  • To its existing bank account, customers offer the lowest home loan rates given their past relationship with the bank.
Interest Rate Interest Rates for Women Processing Fee
7.90% - 8.70% 8.65%-8.75% Nil processing fee till 31.03.2019 Apply
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LIC HFL Home Loan for Pensioners/Senior Citizen

LIC HFL is granting loans to senior citizens who are necessarily above 65 years of age. The criteria of the loan are, you have to pay the interest at the reasonable rates that might not be salaried and you will pay the EMIs with your previous savings. The terms and conditions of the loan are broadly classified for the people who have hit retirement already and for those who are above 50 years of age. The main purpose of the loan sanction is purchasing, construction or extension of house/flat.

Key Highlights
  • Loan is generally offered to the Indian, non-resident Indians and pensioners.
  • Corporate or project loans are also offered to the corporate and builders.
  • Home loans are the secured personal loans against the properties under the rental securitization.
  • All the LIC HFL loans can be used for the top-up home loans for additional financing.

SBI Privilege Home Loan for Government Employees

Now Indians get specially designed home loans for the government employees which are defined as an SBI privileged home loan at low-interest rates starting from the 8.70% per annum. It will offer cheaper home loan schemes to the government employees and defense personal for enhancing the wake of the government’s acceptance to the recent proposal. As per the new schemes, SBI has lowered the interest by 0.05% and repay the loan at age up to 75 years and now opposed to 70 years.

Key Highlights
  • Interest rates per annum for women borrowers are 8.70% and for others 9.10%.
  • Employees can get benefitted lower interest rates with the extended facility in collaboration with the bank.
  • EMI of SBI privilege loans during the post-retirement period is going to be lower.
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Axis Bank NRI Home Loan

Whenever you prefer any NRI home loans, check out all the details on the Axis bank's NRI home loans. When it comes to your purchase decisions, the NRI home loans contain several features with attractive interest rates to avail of the best returns on your investments. However, the Axis NRI home loans come with minimal processing feels with flexible tenures to provide the best customer service for an optimal experience.

Key Highlights
  • Individuals can apply for the loan except for the citizens of Bangladesh, Afghanistan, Pakistan, Sri Lanka, Nepal, China, Iran, and Bhutan.
  • Minimum age of the applicant needs to be 24 years and the maximum age limit is 60 years at the time of loan maturity.
  • Applicants need to have a minimum work experience of 6 months with total work experience of 2 years.

SBI Home Loan for under-construction property

Among the several home loan providers, the SBI home loan is the largest mortgage provider in the country and successfully helped lakhs of families to achieve the dream of owning a home. Thus, the SBI home loans for the under-construction properties can provide a solid foundation of trust and building transparency in the tradition of SBI. Besides the under-construction property, it also sanctions loans for purchasing a pre-owned home, an extension of the house, etc.

Key Highlights
  • With low-interest rates suits every customer's needs.
  • Contain a low processing fee with no hidden charges and prepayment penalty.
  • Women borrowers get a concession on interest and repay up to 30 years.
  • Need to be the residents of India and the minimum age limit is 18 and the maximum is 70 years.
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PNB HFL Plot Loan: Best Home Loan for Plot and Construction

Many would prefer to build their dream house according to their convenience and comfort. So, they need a piece of land to build their house, but consequently, they need a huge amount of money to purchase a plot. PNB HFL plot loan provides loans to the borrowers to purchase a plot for construction. So, if you are looking for a plot loan, then PNB HFL financing could be the best option.

Key Highlights
  • PNB HFL bank has brands across the country.
  • Provide the most excellent customer service.
  • Offered multiple payment options.
  • Subsequently, define outstanding post disbursement services.
  • Proven to be the transparent working system.

Best Home Loan for Existing Customers: HDFC Ltd. Home Loan for Existing Customers

HDFC Ltd. provides the home loan for their existing customers in better interest rates to purchase a house, renovation, and extensions of the old one, etc. For the existing customers, the bank can offer low-interest rates than the other new customers. Throughout the process, you will enjoy the attractive interest rates, quick processing, transparent charges, and easy repayment options.

Key Highlights
  • Provide special interest rates for women borrowers.
  • Nil the repay charges for the floating rates
  • Loan will be provided up to 90% of the property value.
  • Require pan India presence with flexible repayment options.
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SBI Realty Home Loan: Best Home Loan for Land Purchase

SBI realty loan is generally meant for the people who want to buy a plot and flat. But the main condition in SBI realty home loan is, the construction of the home must begin within the 2 years after the date of the loan being sanctioned. Due to a government-owned bank, they are trustworthy and provide the lowest interest rates in the market with the lowest processing charges.

Key Highlights
  • Interest rates of the loan are floating to 9.55% and the amount is 10 crore.
  • Loan is repaid within a maximum of 15 years starting from the disbursement of the loan.
  • Loan comes with the flexibility of availing another loan for construction purposes.
  • Allowed to avail two simultaneous loans with the SBI realty home loan.

HDFC Ltd. Home Loan Balance Transfer: Best Home Loan Balance Transfer

When you have a smarter option to choose from, don't miss a chance to lower your loan repayments. So, always try to move your home loan outstanding balances to the HDFC bank for paying the lower monthly installments and enjoy the savings for the other things. In this way, you will get all the opportunity to build a new home which is matters to you and your family.

Key Highlights
  • Transfer outstanding home loan which is availed to HDFC and get an additional top-up loan of up to 50 lacs.
  • Integrated with the branch network for availing and servicing the loan without any hidden charges.
  • Offer the customized repayment options that will suit your needs.
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Home Loan/ House Loan Eligibility Criteria’s

Now home loan seems to be the most valuable option in India which is easily accessible in banks and several financial institutions. Every borrower needs to fulfill the home loan eligibilitycriteria for approving their home loan. Below points define the whole thing more briefly.

  • Through the eligibility fulfillment, the lenders can ensure that you can pay the loan amount smoothly without having any issues.
  • If you are failed to meet the eligibility criteria of the home loan, then your home loan will be rejected and negatively impact your credit score.
  • So, for determining your home loan eligibility you can use the online calculator available on the website.
  • Through the eligibility calculator, you can instantly calculate the amount you are eligible for borrowing from the lenders.
  • Thus, the home loan eligibility calculator is completely formulated by a mathematical formula for evaluating the eligible loan amount.
  • For calculating the eligibility amount, you need to put the loan tenor, monthly salary, and EMIs in the calculator.

During the whole process, you can get better financial planning and reduce the chances of a loan rejection application. Use the tool for eradicating the hassles of manual calculations of loan eligibility amount. One can access the calculator easily in the online website whenever possible from anywhere.

Require Documents for Home Loan

The documents which are required for a home loan are completely depending on the occupation of the applicant and the loan criteria of the banks and financial institutions. The following points define the documents required for a home loan.

Property document

  • Sales deed and stamped agreement of the sale.
  • Detailed information about the construction cost.
  • Bank account statement made to the seller.
  • NOC collected from the housing society.

Identify proof

  • Pan card
  • Adhaar card
  • Passport
  • Driving license

Address proof

  • Permanent address documents with any identity proof
  • Property tax receipt
  • Electricity bill
  • Telephone bill
  • Passport size photograp

Income proof

  • Salary slip of salaried employees
  • Last 3-month bank statement of salaried employees
  • Trade license, GST registration certificate, etc. of self-employed.
  • Last 6-month bank statement of self-employed.
  • Balance sheet and profit & loss a/c statement of self-employed.

Home Loan/ House Loan Processing Fees and Charges

When you apply for a home loan, you have to repay the loan to the lender in a form of EMIsuntil you paid the complete amount of the loan. But for processing and approving the home loan, the entire borrower needs to pay some fees. Go through the below points to know about all the processing fees charged during the home loan approved.

  • For verification of the loan application, the bank charges application fees.
  • Processing fee charged based on the borrower's profile, income, and loan type.
  • If you are an NRI, then adjudication fees are charged by the lender to start the processing of loan application.
  • For getting the loan agreement signed, the documentation fee is charged by the banks or financial institutions.
  • The legal fee is charged to scrutinize the borrower's legal documents while processing the home loan.
  • For the high-value properties, the technical evaluation fee is charged by the lenders.

Things You Need to Check Before Applying for Home Loan

Now the banks and finance companies provide several loan opportunities that will beneficial for you and help you to buy your new home. A home loan is great financial assistance that makes your dream home into a reality. But before applying for a home loan, you have to check several things such as:

  • Before applying for a home loan, do extensive research to get knowledge about the loan options. Through research, you can get information about the way to formulate the loan, down payment, repayment tenure, and EMIs.
  • Before applying the loan check your loan eligibility and know about all the foreclosures norms on many levels.
  • Within the banking sector, maintaining the CIBIL score is very important because it can perform quicker processing and disbursal of the loan.
  • Affordability is the major factor that also needs to consider because it can help you to determine your monthly loan EMI within your cost of living.
  • Bank offers varied EMI options to cater to and needs of the borrowers. Choose it carefully because it can heavily determine your loan down payment.
  • Longer loan tenure can reduce your EMI amounts, so choose short repayment tenure with higher EMIs to manage the interest rate on your loan.
  • Apart from the EMIs, make sure that you know the additional charges related to the home loan as well as carefully read all the documents.

Type Of Home Loan/ House Loan In India

With the help of a home loan, people achieve their dream home. So, the demand for home loans is increasing in India day-by-day. Now many banks and financial institutions in India offer a variety of home loans. The following points define the different types of home loan in India:

Home loan

A home loan is the most popular loan used for buying a new house. So, the loan lenders offer a fully transparent and flexible home loan with the best terms. Offer exclusive home loans to make your dream home into a reality.

Home construction loan

If you want to add a new home or floor in your existing home, then take the home extension loan for enlarging and renovating your sweet home.

Land loan

To buy a piece of land or plot for constructing your dream home, you can take the land loan from the banks or financial institutions.

Home renovation loan

The home renovation loans are applied by the individuals for various purposes such as painting the interior or exterior of the home, installing new tiles, etc.

Composite loan

If you are searching for a home loan that will help you to perform both purchasing a plot as well as constructing your dream home, then a composite loan seems to be the most reliable option.

Do and Don’t Do While Applying For Home Loan

When you are decided on applying for a home loan, there is a lot of stakes you need to consider. Here are the dos and don'ts you have to consider during the home loan approval process.

Do's

  • In your loan application, including all your financial information.
  • Use the money which you saved for the down payment of a loan.
  • Provide genuine documents to improve the chances of loan approval.
  • Regularly follow-up with the loan lenders for immediate loan approval

Don'ts

  • During the application or approval process of the home loan, don't do any financial changes.
  • Don’t quit or change the jobs right before getting a loan.
  • Avoid the unusual or large purchases before approving your loan.
  • Don't take any types of financial risks like changing to a new bank or making large deposits in the bank.

Thing to Do if Your House Loan Got Rejected

HomeA home is the best option that arranges funds needed for buying your dream home. But due to several reasons, the house loan can be rejected by the banks and financial institutions such as:

  • Poor credit score
  • Bad credit history
  • Unapproved loan
  • Restricted project area

When the house loan got injected, you have to consider several things for again approving it bythe bank. Go through the steps to make it approved as soon as possible:

  • Upgrade your credit score by settling down the ongoing dues.
  • For fixing the bad credit history issues, you have to settle down the pending dues with your financers.
  • Again request your preferred home loan providers to approve the loan by fixing the project related approval issues.
  • Maintain a clean banking record by avoiding too many inquiries for loan providers.
  • Maintain a healthy CIBIL score and CIBIL report to repay your home loan.

FAQs on Home Loan

When you are applying for a home loan, you have to fulfill the basic eligibility for approving the loan such as a citizen of India, at last, 21 years old, etc. Apart from the eligibility criteria, you have to determine the several factors which determine your home loan eligibility such as:

  • A credit score measures the financial credibility to assess repayment capacity.
  • Credit repayment without having any debt obligations helps you to get a high amount of loan.
  • Based on the city or work, the home loan has minimum income criteria.
  • Like income, your current employment also seems to be a big status.
  • Property details also taking a big part in home loan sanction and a big concern for lenders.
  • Apart from other factors, home loan eligibility is also factored alongside your age.

A home loan is an amount which can be borrowed by the individuals for performing their home purchase, home renovations, home constructions, and many more. For approving the home loan, the lenders can take the property as security for lending the money.

Home loans are very popular in India because it carried with a minimal rate of interest, no hidden fees, and charges as, smooth and worry-free borrowing well as value-added features. For getting a home loan, you have to consider the steps:

  • Check the home loan eligibility before applying for the loan
  • To choose the right bank research the loan market carefully
  • Make sure that you have maintained a good credit score
  • Keep all the documents ready by understanding the fees
  • Gather some funds for performing the down payment and repayment in advance

Home loan has two types of interest rates such as fixed-rate and floating rate. Both of them have their own set of benefits and used for different purposes.

Fixed-rate

Fixed home loan interest never charges with the market force and completely dependent on the market rate. In a fixed rate, you can easily forecast your loan EMIs and plan for the loan repayment with great ease. The fixed interest rate is generally taken when the interest rate on taking a loan is low and offer stability loan facilities.

Floating Rate

Floating interest rates are commonly are varied over the course of the loan's tenor action. If you will consider the floating rate of interest in your home loan, then you never predict the EMIs with utmost certainty. In these interest rates, when the rates drop, the loan instantly benefitted. So, if you are working in real-estate, then floating interest rates are ideal ones.

Yes, the home loan tax can be deductible in case of repayment of interest under the section of 24 of ITA of India. On the other hand, if the home loan has pertained to the rented property, then there is no limit to the deduction of the interest on the home loan.

Owning a debt-free house is always satisfying, so the home loan borrower always likes to prepay the outstanding home loan amount. If you are paying a high amount of home loan interest, then it's always advisable to prepay the outstanding home loan amount for reducing its interest. Once you will prepay the home loan outstanding, then you can invest that money in long-term assets like fixed deposits or equities.

Higher-income will sanction a high amount of home loans as well as lower EMIs on actual loan value. Moreover, the minimum salaries for applying the home loan for the salaried employees in metro cities are 25,000 rupees per month and 20,000 rupees per month for the employees of other cities.

The maximum home loan eligibility is generally calculated after the loan amount getting deductions into several EMIs that would be paid by you in every month. In general, the banks are providing a maximum of up to 85% of the loan amount against the current value of your property. In this way, if you want a home loan for buying a property of 70 lakhs then the maximum loan amount you can get is 85% of that property cost that is 59.50 lakhs.

Now the Indian government can encourage individuals to invest in a house. Due to this reason, home loans are eligible for tax deductions. So, when you buy a house on a home loan, it can facilitate you with multiple tax benefits as well as reduce your tax outgo. Yes, you can get the tax deduction facilities on your home loan with following benefits such as:

  • Reduce the interest paid on your home loan.
  • Reduce the interest on a home loan during the pre-construction period of the loan.
  • Reduce the amount of your principal on the home loan.
  • Additional tax reduction under section 80EE and 80EEA

For the faster processing and hassle-free execution of your home loan, you have to gather all the required documents very carefully before applying for the loan. Here are the documents you need for processing the home loan:

  • Identity proof: PAN card and any of these documents such as Aadhar card, Voter card, driving license, valid passport, and many more.
  • Income Proof: Salaried employees – last 2-month salary slip and last 6-month bank statement.Self-employees – Income tax return of last 2 financial years, Details of balance sheet and profit & loss account and current account statement of last 6 months.
  • Property documents: Copy of complete property chain documents, copy of the agreement to sell, copy of allotment letter, and copy of the receipt of payment.
  • Address proof with other documents.

The co-applicant is the person in the home loan who is equally responsible for repayingthe loan like the original borrower of the loan. According to the law of the bank, the co- applicant needs to be a blood relative or immediate family member. Due to the co- applicant, you will enjoy several other benefits in your home loan approval process such as:

  • Tax-deductible benefits
  • Quick loan approval
  • Low-interest rates on loan
  • Increase the eligibility criteria

For first-time buyers, choosing the home loan always seems to be a complicated process. While choosing a home loan the first thing you have to consider is the interest rates which are divided into two parts such as fixed interest rates and floating interest rates. Below points define both of them elaborately:

Fixed interest rate:

In fixed interest rates, the interest amount is fixed and never varies with the market fluctuations. The interest rates are paid on the monthly basis of the starting month. It is useful for the below points:

  • Suitable for short-term loans
  • Greater predictability and security

But have a higher rate of interest and limited repayment tenure as well as a prepayment penalty.

Floating interest rate:

Moreover, the floating interest rates are adjustable rate home loans in which the interest rates are changing throughout the action. These types of interest rates are reset at a specific interval and could vary in every quarter or 6 months. It is also useful for the below points:

  • Lower interest rates
  • No prepayment penalty
  • Reduce total interest payable

But like fixed rates it also has several disadvantages such as highly subjected to market factor and difficult to budget.

The pre-EMI is defined as an interest amount that can be paid over the entire tenure of a home loan. Generally, the pre-EMI payment is started when the home is under construction. Once the Pre-EMI payments are over, the EMI payments started immediately. It also provides several benefits for your home loan such as:

  • Reduce the burden of the home buyers
  • Help the rented home buyers
  • Buyers can discontinue the rental payouts after possession receive
  • House can be put on lease for generating extra income

Now people are taking home loans to get their dream home faster. So, the financial institutions and different banks can provide home loans to bring their dream home into a reality without any financial burden. But the lenders of the home loan need to ensure that you are eligible for the home loan. Below points define the factors that affect your home loan eligibility:

  • Income and profession
  • The current market value of the property
  • Your current age during loan approve
  • Credit score
  • Co-applicants

In India, several national or private banks, and non-banking financial companies can provide numerous home loan options to all individuals. Based on your needs you have to choose the home loan by understanding all the documentation, eligibility criteria, and many more requirements needed by the lenders. Here are the different types of home loans you have to consider must:

  • Home-purchase loan
  • Land-purchase loan
  • Home-construction loan
  • Home-renovation loan
  • Home-extension loan
  • NRI-home loans

The MCLR is generally defined as the Marginal cost of fund-based lending rate which indicates the financial body which is never permitted to lend money. In the home loan, the MCLR rate is succeeded the base rate and the rate can be fluctuated due to the force of the banks and financial institutions. Moreover, the MCLR rate is determined by the deposit rates and based on the loan tenors. It can be calculated with the below parameters:

  • Fund marginal cost
  • Tenure premium
  • Operating charges
  • Cost of CRR maintenance

Yes, you can switch from a fixed rate to a floating rate during your home loan tenure and vice versa by paying a small fee. The reason behind is, the home loan lenders can understand the consequences of the loan borrowers and provide them the right to choose the best interest rates as per their requirements. Moreover, the floating-rate loan does not have any prepayment penalties.

The home loans provided by the different banks and financial institutions are coming with an option of moratorium period in which you don't need to pay your loan which is between the 36 months and 60 months of the loan approval. After the end of the period, you need to start the repayment of your loan in EMI till your long tenure end. During the moratorium period you don’t need to pay the EMI but only need to pay the Pre-EMI interest.

Home Loan

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