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Get the best home loan at attractive interest rates and lower EMIs at Paisabazaar.com and make your dream of purchasing your own home into reality. With our quick and hassle free online documentation process and expert advice, Paisabazaar.com helps you to avail best available home loan deals from multiple financial institutions.

Housing Loan

Home Loan Apply online Home Loan EMI Calculator Home Loan Interest Rates
Home Loan Documents Required Fees and Charges Home Loan Eligibility

 

Apply for home loan with Paisabazaar.com to avail a host of benefits to:

  • Check your eligibility status for the home loan.
  • Calculate the loan amount that you will be eligible for.
  • Calculate your home loan EMI.
  • Get the best home loan quotes based upon your requirements
  • Compare the different home loan products against different parameters
  • Apply for home loan online.

Check, Compare & Pick Home Loan with Paisabazaar.com

Paisabazaar.com is an unbiased comparison portal, allowing you to analyse various home loan deals available in the market according to the key data provided by you. You will need to enter some basic information related to your housing loan requirements which includes the purpose for availing the home loan, city where you wish to buy property, loan amount, loan tenure and your employment type. Based on the above mentioned details, we will provide you with the best home loan options that you can avail. We give you the opportunity to compare the best home loans in India against different parameters and choose the one which suits you the best.

Our Home Loan Eligibility Calculator enables you to view the types of home loans you are eligible for and helps you assess your eligibility for home loan online. As all banks and financial institutions have different criteria or specifications, it is important that you first check which ones you qualify for. Our calculator lets you understand the eligibility criteria, repayment options, types of interest rates, etc. eventually helping you in selecting higher loan amounts at lower interest rates, i.e. LMIs.

Home loan is a lump sum amount of money borrowed from any financial or banking institutions to buy a house. Home loan consists of two types of interest rates named as fixed and floating interest rates. As per the chosen interest rate, consumer repays the loan in form of EMIs for the desired tenure.

The ownership of a house is one of the key signs of success among the fast-growing Indian middle class. As the income of the average Indian family increases, there has been a continuous increase in the desire to own a house and this has led to consistent increase in the property prices over the last few years. This is true for not just the big cities but also for smaller cities across India. This unbridled price rise has made it near impossible for the common man to purchase their home through just savings.

This significant gap between the income and the desire to own a house is among the prominent reasons behind the unmatched growth in home loan business in recent years. The effect has been so much so that prospective home buyers now have multiple options to seek a home loan from banks as well as NBFCs.

Lower rate of Interest Low Interest Rate - Buying a home is a long-term decision, which makes it important to look for the interest component as the longer the home loan tenure will be, the expensive your home loan will become. Many banks and financial institutions offer reasonable and attractive interest rates, to make home loan affordable for you.

Deduction for Interest Paid on Housing LoanDeduction for Interest Paid on Housing Loan - If you are paying EMI for the home loan, it has two components – Interest Payment and Principal Repayment. The interest of the EMI paid for the year can be claimed as a deduction of up to a maximum of Rs 2 lakhs under Section 24 of the Income Tax Act, 1961.

Tax Deduction on Principal repaymentDeduction on Principal repayment - The Principal portion of the EMI paid for the year is allowed as deduction under section 80C of the Income Tax Act, 1961. The maximum amount that can be claimed is up to Rs 1.5 lakhs. But to claim this deduction, the house property should not be sold within 5 years of possession.

Capital AppreciationCapital Appreciation - We all are aware of the fact that property prices rise over time, which leads to capital appreciation and becomes one of the major reasons to invest in a property. Not only construction costs, rents over a period of time seem to keep up with inflation as well; making home one of the best investments for the long term.

Additional Benefits of Housing Loan:

  1. Flexible Tenor
  2. Hassle Free Documentation
  3. Apply Online
  4. Easy Balance Transfer Feature
  5. Options of Home Loan Insurance

Home Loan Interest Rates 2018

Banks Interest Rate Processing Fee
SBI 8.70% onwards Nil, Till Dec 2018
HDFC Bank 8.85% onwards Upto 0.50% of loan amount
ICICI Bank 9.00% onwards Upto 1% of loan amount
LIC Housing Finance 8.70% onwards Upto 0.50% of loan amount
DHFL Housing Finance 9.00% onwards Upto 0.50% of loan amount
Axis Bank 8.80% onwards Upto 0.50% of loan amount
Kotak Bank 8.90% onwards Max. Rs. 10000
Yes Bank 9.35% onwards Upto 0.75% of loan amount
Indiabulls Housing Finance 8.80% onwards Maximum Rs. 5000
PNB Housing Finance 9.00% onwards Upto 1% of loan amount
IDBI Bank 8.85% onwards Upto 0.50% of loan amount
Citibank 8.80% onwards Nil
Bank of Baroda 9.65% onwards Upto 0.50% of loan amount
Canara Bank 8.75% onwards Upto 0.50% of loan amount
IDFC Bank 8.90% onwards Max. Rs. 5000
Dena Bank 8.60% onwards Upto 0.50% of loan amount
Syndicate Bank 8.80% onwards Upto 0.13% of loan amount
UCO Bank 8.65% onwards Upto 0.50% of loan amount
Karnataka Bank 8.70% onwards Upto 0.25% of loan amount
Allahabad Bank 8.70% onwards Upto 0.40% of loan amount

Note: Interest Rates offered by banks and NBFCs are as subject to change as per the directives of RBI and lenders discretion

The home loan interest rates are currently based on the MCLR (Marginal Cost of Lending Rate) plus a spread on the MCLR depending upon the lender's risk perception of the applicant. Almost every bank offers a competitive interest rate on housing loan to attract the prospective customers. In the housing loan market, lenders give away a host of home loan offers and deals to gain more customers and profit. However, as a borrower it is best to compare home loan rates of different banks and then finalize the one which suits your needs the best.

Loan providers offer either fixed or floating interest rate on housing loan. Fixed interest rate implies that the home loan interest rate will be fixed and you will need to pay fixed equal instalments over the repayment tenure of the loan. In this case, home loan interest rates do not change with the market fluctuations. The main disadvantage with fixed interest rates is that they are usually 1-2.5 % higher as compared to the floating rate for housing loans. Furthermore, if any time during the loan tenure the home loan interest rates decrease, the fixed interest rate remains unchanged and the borrower continues to pay the same amount every time.

Floating interest rate applied on housing loans changes with the market conditions. The interest rates on home loans on floating interest are calculated according to a base rate plus a floating rate. So, whenever the base rate changes the floating interest rate gets changed with it. The major benefit with floating interest rate loans is that they are cheaper home loans as compared to the house loans with fixed interest rates. The only disadvantage with a floating interest rate home loan is that the monthly instalments are never fixed and are subject to change with time.

When it comes to choosing between fixed and floating interest rates on home loans, a majority of borrowers choose floating interest rates. However, the choice is up to the borrower, whatever suits his/her needs is the best option. Before zeroing in on your choice, it is recommended to compare home loan from different lenders.

Home loan eligibility criteria include the criterion the loan applicant needs to satisfy in order to be eligible for a home loan. Every lender has different home loan eligibility criteria but they judge the loan applicants credibility based on some common factors, such as age, income, work experience and credit history.

Home Loan Eligibility Calculator

Home Loan Eligibility Criteria Salaried Professionals Self-Employed Professionals
Age Criteria 21 Years – 60 Years 24 Years – 65 Years
Employment Min. 2 Years of experience Min. 5 Years of experience
Co-Applicant(s) Not Mandatory – Only Family Members as co-applicants Not Mandatory – Only Family Members as co-applicants
Credit Score 750 or above 750 or above
Max. Loan on Property Value Up to 90% Up to 90%
Max. EMI – Per Income % Up to 65% Up to 65%

Note: The criteria with respect to eligibility for a home loan tend to vary from one lender to another.

Following are some key requirements to be taken into consideration:

Target Group:  Any salaried, self-employed or professional individual of Indian nationality can apply for a home loan.

Age Criteria:  The loan applicant must be aged 21 years or above

Income Criteria: 

  • The applicant needs to have a regular source of income to improve the chances of regular repayment. Having a regular income source helps the loan provider to assess the borrower's repayment capacity.
  • For self-employed individuals, profit earned by you majorly determines the housing loan value you are eligible for.

Employment Experience:  The applicant's professional stability i.e. the work experience of the applicant.

Credit History:  Credit history is another major deciding factor for availing a housing loan. A clean credit history will help in quick loan approval.

Checking your eligibility before applying for a home loan is a better option as it lets you understand your status of eligibility and know where you lack. You can check whether you are eligible for a home loan or not by using Paisabazaar home loan eligibility calculator.

With people becoming more and more open to home loans, loan providers are coming up with better and more attractive home loan offers. With a host of cheaper home loans on offer, it is best to do a home loan comparison first and then make a decision.

Home loan is a relatively broad category and is not limited to only purchasing a house whether new or old. Loan providers are offering Home loans for different purposes according to the changing needs of the customer.

Home loan can be of the following types:

  • Home Purchase Loans: As evident by the name, this type of home loan can be availed when buying a new home. You can find the best home loans in India at Paisabazaar and compare home loans against various criterion.
  • Land Purchase Loans/Plot Loans: The land purchase loan may be availed in order to complete the purchase of a plot of land for construction or as an investment. Land purchase loans are just like home loans, the only difference being that this loan is used to purchase a vacant plot. The term, the interest rate and procedure for both home loan and land purchase loan are similar.
  • Home Construction Loans:This type of home loan can be availed for the construction of a house. Such a loan is granted only if you already own a plot of land and plan to start construction of your house on it.
  • Home Improvement Loans: Home improvement loans are increasingly becoming popular as its interest rates are similar to home loans interest rates. These loans can be availed when you are planning to renovate or make repairs to your current home.
  • Home Conversion Loans: If you already own a house with an existing home loan and are planning to purchase a new house, you can opt for a home conversion loan.
  • Home Extension Loans: With time you might feel the need to add more space to your house for varied reasons, such as a growing family. Opt for this home loan type when you plan to increase your living area and extend your existing home.
Types of Home Loan

Paisabazaar.com brings you a free-of-cost home loan EMI calculator so that you can make an informed decision regarding the affordability of your chosen home loan. Additionally, the home loan EMI calculator is an effective tool for comparing different loan options that are available to you. At Paisabazaar.com, you can check your home loan eligibility and also further check and compare home loan deals from several banks at no cost with accurate results.

There are only a few details that you need to fill out in order to get the EMI amount payable – The loan principal, the applicable interest rate and the loan tenure. If done by hand, this calculation takes much longer, but Paisabazaar's home loan EMI calculator provides you with instant results that you can use to make informed decisions regarding the most suitable home loan option for your requirement.

Applying for home loans online or offline requires the borrower to submit a list of documents as demanded by the loan provider. Documents required for home loan vary as per the employment type of the individual, i.e. salaried or self-employed.

   Age Proof

Address Proof Income proof Existing Loans Property Documents
Birth Certificate

Voter's ID

Income Tax Return - Last 3 years

Account statements of current loans

Sale Agreement, Property Plan

Bank's Passbook Driving License Salary Slips-Last 2 months Amortization Schedule Original of the land tax paid receipt and possession certificate
Class 10th Certificate Passport Appointment Letter Account statements of loans where the borrower is a guarantor, etc. Approvals from Local Authorities, etc.
Passport Ration Card, etc. Company ID Card, etc. Approved copy of Building Plan
PAN Card Utility Bills – Water, Gas, Telephone, Electricity Increment or Promotion Letter NOC from Builder/Housing Society

 

Documents Required:

  • Duly filled Loan Application form

Proof of Identification:

  • Driving license
  • Ration card
  • Passport
  • PAN card
  • Voter's ID card
  • Employee ID
  • Bank passbook

Proof of Age:

  • PAN card
  • Birth certificate
  • 10th class mark sheet
  • Bank passbook
  • Passport
  • Driving license

Address Proof:

  • Bank passbook or Bank account statement
  • Voter's ID
  • Ration card
  • Passport
  • Utility bill (Telephone, Electricity, Water, Gas) – less than 2 months old
  • LIC policy/ receipt
  • Letter from a recognized public authority verifying the customer's residence address

Income Proofs:

Salaried individuals (any one of the following):
  • Form 16
  • Certified letter from Employer
  • Pay slip (Last 2 months)
  • Increment or Promotion letter
  • IT returns (for 3 years)

Apart from the proof of income of the salaried individual, he would also have to furnish any investment proofs (like fixed deposits, shares, etc.) and his/her passport-size photographs.

10 Steps involved in the Home Loan Process

Here is the sequence of steps in the home loan process. 

  1. Fill up application form
  2. Documents Submission
  3. Discussion with expert advisor.
  4. Pick best Home Loan deal
  5. Payout Processing Fees
  6. Investigation of property
  7. Loan Sanctioning and offering
  8. Final Documentation
  9. Signature and Acceptance
  10. Loan Disbursement.

Note: Some of the important property papers shall stay with the bank until the home loan is completely repaid.

Steps in home loan process in India

Various leading banks and NBFCs offer home loans in India, find the list below:-

Home Loan Providers in India

Abhyudaya Co Operative Bank Home Loan HDFC Bank Home Loan Reliance Home Finance  Home Loan
Allahabad Bank Home Loan HSBC Bank Home Loan Saraswat Bank Home Loan
Andhra Bank Home Loan ICICI Bank Home Loan South Indian Bank Home Loan
Axis Bank Home Loan IDBI Bank Home Loan Standard Chartered Bank Home Loan
Bajaj Finserv  Home Loan India Infoline Finance Limited  Home Loan State Bank Of Bikaner And Jaipur Home Loan
Bank Of Baroda Home Loan Indiabulls  Home Loan State Bank Of Hyderabad Home Loan
Bank Of India Home Loan Indian Bank Home Loan State Bank of India Home Loan
Bank Of Maharashtra Home Loan Indian Overseas Bank Home Loan State Bank Of Mysore Home Loan
Canara Bank Home Loan IndusInd Bank Home Loan State Bank Of Patiala Home Loan
Central Bank Of India Home Loan Jammu Kashmir Bank Home Loan Sundaram Finance  Home Loan
Citi Bank Home Loan Karnataka Bank Home Loan Syndicate Bank Home Loan
Corporation Bank Home Loan Karur Vysya Bank Home Loan Tamilnad Mercantile Bank Home Loan
Cosmos Bank Home Loan Kotak Mahindra Bank Home Loan Tata Capital  Home Loan
Dena Bank Home Loan LIC Housing Finance  Home Loan Uco Bank Home Loan
Deutsche Bank Home Loan  Muthoot Finance  Home Loan Union Bank Of India Home Loan
Dhanlaxmi Bank Home Loan Oriental Bank Of Commerce Home Loan Vijaya Bank Home Loan
DHFL  Home Loan PNB Housing  Home Loan Yes Bank Home Loan
Federal Bank Home Loan Punjab National Bank Home Loan  RBL Bank Home Loan

Buying your home is a big investment and requires good amount of financial planning before making the commitment. It is not possible for most of us to buy a home out of our pocket and it isn't a wise decision either.

When buying a home, you should always prefer taking a home loan to make the payments instead of paying money upfront. There are several advantages of taking a home loan instead of paying by cash, which are mentioned below:

Tax Benefits – You can claim deductions on the interest of your home loan under Section 24 of Income Tax Act, 1961 and deductions on principal repayments under Section 80C of Income Tax Act, 1961.

No Funds Lock In – If you pay for your home with your savings, you will end up locking in a huge amount. Instead, you can invest that surplus money in other investments and earn interest on the same, while buying your home by availing a home loan.

Improve your Creditworthiness – A Home loan is a long term commitment for any individual. So, timely repayment of your home loan EMIs will help you with your credit history and leave a positive effect on your credit score. As a result, it will be easier for you to get approvals on future loan and credit card applications.

Factors to consider when choosing the perfect home loan:

  • Loan Disbursal Time: The time for home loan disbursal varies from one bank to another, usually a lender takes anywhere around 10-15 days for loan processing and disbursal. Choose a home loan provider which takes lesser time and does not cause unnecessary delays in home loan processing.
  • Loan Eligibility: Home loan eligibility criteria vary from one lender to another. The usual eligibility of an individual is determined by his age, income, work profile and stability, credit history, etc. It is best to check the eligibility using home loan eligibility calculator to be sure whether you are eligible for the loan or not.
  • Rate of Interest - Fixed or Floating:  Some home loan providers charge fixed and some floating rate of interest on home loans. Fixed interest rates are considered ideal for shorter tenure loans and floating for longer tenure loans. Some lenders even offer hybrid home loans in which the borrower can enjoy the benefit of both fixed and floating interest rates.
  • Hidden Charges: Loan providers levy a number of additional charges, such as the processing fee, prepayment or foreclosure charge, etc. It is best to read the fine print before making the final choice so that you do not end up feeling pick-pocketed when such charges are levied.
  • Terms and Conditions associated with the home loan: List of terms and conditions pertaining to repayment, prepayment, loan transfer, and many other things related to the home loan should also be taken into account while choosing a home loan.
  1. Application Fee
  2. Processing Fee
  3. Technical Valuation Charges
  4. Administrative Fee
  5. Balance Transfer Charges
  6. Pre-payment Charges
  7. Legal Fee
  8. Franking Fee
  9. Notary Fee
  10. Indemnity Cost
  11. CERSAI Charges
  12. Recovery Charges
  13. Documentation Fee

To know more details on cost associated with home loan click here.

Oct 10, 2018: Indiabulls Housing Finance Increase Home Loan Interest Rates by 20 bps

Indiabulls Housing Finance Ltd. has increased the home loan interest rate by 20 bps or by 0.20%. The revised home loan rates for women co-applicant will be 8.80% for loans upto Rs. 35 lakhs and 8.95% onwards for above Rs. 35 lakhs. Recently, Indiabulls Housing Finance increased the lowest slab from Rs. 30 Lakhs to Rs. 35 lakhs. Indiabulls Housing Finance has already received the rating of ‘AAA’ from all four leading rating agencies. As per IBHFL “The increase in lending rates reflects the rise in cost of funds,”. Revised interest rates will be effective from Tuesday, 9th Oct 2018 onwards.

Oct 3, 2018: EMIs set to rise, Banks increase home loan rates

Banks including SBI, HDFC, ICICI and PNB have raised their lending rates. Banks took this decision just few days before the Central bank was expected to raise MCLR this week again. SBI raised its MCLR rate across tenors by 5 base points. HDFC raised their home loan lending rates by 10 bps. Their new lending rates vary from 8.80% - 9.05% on various types of loans. PNB hiked interest rates on short-term loan by 0.2% and now its MCLR stands at 8.20% against 7.90%. Revised lending rates from SBI is 8.70% onwards, ICICI hiked MCLR from 8.55% to 8.65%. HDFC increased home loan lending rates at 8.80% onwards from 8.70%. This change in home loan interest rates is effective from October 1, 2018.

Sept 3, 2018: Loans to become costlier as SBI hikes MCLR rate

SBI has increased the MCLR rate by 0.2% on making home loan, auto loan and several other loans to become costlier. The new interest rates will be effective from Sep 1st, 2018. SBI has increased its lending rates by 20 bps (basis points) throughout all tenors upto three years. Currently, the MCLR rate is 8.1% against 7.9%, which was earlier. SBI has hiked one year tenor MCLR rate from 8.25% to 8.45% and for three-year tenor, MCLR has increased from 8.45% to 8.65%. Since, RBI have hiked the lending rate by 25 bps to 6.5%, approximately after a month SBI has also decided to put a hike on the MCLR.

Q. Can I get a home loan for the entire property value?
Ans - No. Banks usually keep a 20% margin when providing individuals with a home loan. This means that the lender may agree to provide you with 80% of the property value as a home loan, while you will have to shell out the rest 20% by yourself. In some cases, the lender can agree to provide you with up to 90% of the property value as a home loan.

Q. Are there any tax benefits of a home loan?
Ans - Yes. Both the loan principal amount and the interest paid towards loan repayments provide tax benefits under Section 80C and Section 24 of the IT Act respectively.

Q. Who can co-sign a home loan with me? Can my friend co-sign a home loan for a flat?
Ans - Your family members like father, mother, siblings, etc. can co-sign a home loan with you. Other than that your spouse or adult children can also be co-signatories in case you are applying for a home loan. In India, as per existing rules, your friend cannot co-sign a loan as he/she is not a blood relative or otherwise related to you.

Q. How many people can co-sign a home loan with me?
Ans - At present, up to 7 people can co-sign a home with the primary applicant. However, all of them need to be blood- relatives of the family member.

Q. Are there any prepayment charges in case of a home loan?
Ans - In case of a floating rate home loan, lenders don't charge a pre-payment penalty as per RBI directives however a penalty may be applied in case of prepayment of a fixed-rate home loan. You can visit the Home Loan FAQs page for additional details on home loans.

Q. How home loan EMI is calculated?
Ans - Equated Monthly Instalment (EMI) is the amount that you repay each month against your home loan principal amount and its interest amount. So, while calculating the home loan EMI, both the principal amount and the accrued interest on the loan is taken into consideration.

Q. How to use Home Loan EMI calculator?
Ans - Home loan EMI calculator is an effective tool for comparing different loan options which are available to you from different banks and financial institutions. You can use the home loan EMI calculator on Paisabazaar to calculate the EMI which you will have to pay for your home loan. Paisabazaar's home loan EMI calculator will provide you instant results to help you take an informed decision. You only need to provide few details like loan amount, interest rate and tenure of the home loan. You can check your EMI by following the below-mentioned steps:

  • There are three sliders in the EMI calculator – Loan Amount, Rate of Interest and Tenure
  • All you need to do is choose the desired loan amount, rate of interest and tenure of the home loan, respectively, on the sliders
  • After you adjust these sliders, Paisabazaar.com will display your monthly EMI amount.

Q. What are the important points to remember while choosing a home loan?
Ans - Home loan is a long term obligation to fulfil. One should always stay aware and keep in mind the following points while choosing a home loan in India online:

  • Factors Affecting Eligibility Criteria
  • Negotiate the Interest Rate
  • Check hidden cost while comparing different lenders like processing fees, foreclosure charges, prepayment costs, valuation costs etc.
  • Compare different lenders to get the best home loan at affordable rates
  • Longer the tenure – Costlier the Home Loan
  • Choose floating rate of interest over fixed interest rate
  • Read all the terms and conditions carefully
  • Check your credit score. People with low credit score may face loan rejection or if it is accepted, it may come with a higher rate of interest.

All of the above stated points hold true if you are wondering how to choose the right home loan.

Q. What are the reasons for home loan rejection?
Ans - Factors that can play a crucial role in home loan rejection are mentioned below:

  • Bad or low credit score
  • Incorrect personal details in credit report
  • Rejection of loan by other banks
  • Unstable income
  • Age factor
  • Location of the property
  • Poor repayment capabilities

Q. How to avoid home loan rejection?
Ans - The below mentioned steps can prove to be beneficial to avoid home loan rejection:

  • Credit Score: It is advisable to maintain a credit score of 750 and above to have a good chance of your application being approved. Banks & Financial Institutions rely on credit score before approving your home loan to check your credibility and loan repayment history. So, you should always maintain your credit score to avoid home loan rejection.
  • Insufficient Income: Banks and financial institutions look into your monthly income to see if you will be able to repay your equated monthly instalments (EMIs) or not. It is always advisable to take a home loan with EMI not more than 40% of your monthly income. Lenders have certain minimum income and employment requirements which play an important role in the loan-approval process. Make sure that you meet all the requirements before you apply for a home loan.
  • Too many applications for home loan in a short span of time: If you apply for a home loan from different lenders, it indicates banks and financial institutions that you are short of credit and need to apply to several sources to fill the gap. Lenders think that you will not be able to repay your loan, which leads to rejection of your home loan application.
  • Existing loan portfolio: Currently, if you have a number of loans to repay, then your lender might think that you will not be able to take on another EMI on your existing income, which will lead to your home loan rejection. So, it is better to apply for a home loan once you have paid off a few of your other loans to reduce your EMI burden.

Q. Can NRIs take home loan?
Ans - Yes, NRI can apply for home loan. for more details visit NRI home loan page.

Q. How to track home loan application status?
Ans - To check your home loan application status, you can call at our customer care number 18002088877 or mail us at care@paisabazaar.com with your home loan reference number.

Have more queries visit our home loan FAQs page.

Home Loan Provider Profession Type Home Loan Interest Rates Home Loan Processing Fees
HDFC Bank Salaried For Women (up to 30 Lakhs) 8.80% Rs 10000
For Others (up to 30 Lakhs) 8.85%
For Women (Above 30 Lakhs) 8.95%
For Others (Above 30 Lakhs) 9.00%
Self Employed For Women (up to 30 Lakhs) 8.95% 0.50% of the Loan Amount
For Others (up to 30 Lakhs) 9.00%
For Women (Above 30 Lakhs) 9.10%
For Others (Above 30 Lakhs) 9.15%
SBI Salaried For Women (up to 30 Lakhs) 8.70% Up to 1%
For Others (up to 30 Lakhs) 8.75%
For Women (Above 30 Lakhs and up to 75 lakhs) 8.85%
For Others (Above 30 Lakhs and up to 75 lakhs) 8.90%
For Women (Above 75 lakhs) 8.95%
For Others (Above 75 lakhs) 9.00%
Self Employed For Women (up to 30 Lakhs) 8.85% Up to 1%
For Others (up to 30 Lakhs) 8.90%
For Women (Above 30 Lakhs and up to 75 lakhs) 9.00%
For Others (Above 30 Lakhs and up to 75 lakhs) 9.05%
For Women (Above 75 lakhs) 9.15%
For Others (Above 75 lakhs) 9.30%
IndiaBulls Salaried For Women (Up to 30 lakhs) 8.40%

Up to 30 Lakhs - up to  Rs10,000

Rs 30.01 lakhs to 50 lakhs - Upto 0.50%

over Rs 300 - 0.50%-1.00%

For Others (Up to 30 lakhs) 8.45%
For Women (Above 30 lakhs and up to Rs. 75 lakhs) 8.55%
For Others (Above 30 lakhs and up to Rs. 75 lakhs) 8.60%
For Women (More than Rs. 75 Lacs and up to Rs. 5 crore) 8.85%
For Others (More than Rs. 75 Lacs and up to Rs. 5 crore) 8.90%
For Women (More than 5 crore) 10%
For Others (More than Rs. 5 crore) 10.05%
Self Employed For Women (Up to 30 lakhs) 8.45%

Up to 30 Lakhs - up to  Rs10,000

Rs 30.01 lakhs to 50 lakhs - Upto 0.50%

over Rs 300 - 0.50%-1.00%

For Others (Up to 30 lakhs) 8.50%
For Women (Above 30 lakhs and up to Rs. 75 lakhs) 8.55%
For Others (Above 30 lakhs and up to Rs. 75 lakhs) 8.60%
For Women (More than Rs. 75 Lacs and up to Rs. 5 crore) 8.90%
For Others (More than Rs. 75 Lacs and up to Rs. 5 crore) 8.95%
For Women (More than 5 crore) 10%
For Others (More than Rs. 5 crore) 10.05%
LIC HFL Salaried / Self Employed 8.70% onwards
Loan up to Rs. 50.00 Lakhs Rs.10000/- + Service Tax
Loan above Rs. 50.00 Lakhs and
up to Rs. 3.00 Crores
Rs.15000/- + Service Tax
IDFC Bank Salaried 8.90% onwards Rs 2500
Self Employed 9.05% onwards Rs 10000
Citibank Salaried 8.75% onwards Rs 5000
Self Employed 8.75% onwards 0.25% of the loan amount
DBS Bank Salaried 8.55% Rs 10000
Self Employed 8.55%
Sundaram Salaried Up to 30 Lakhs 8.40% Rs 3500
From 30 lakhs to 75 Lakhs 8.55%
Above 75 Lakhs 8.65%
Self Employed 9.20% 1%
Kotak Mahindra Bank Salaried 8.50% Rs 10000
Self Employed 8.50% Rs 10000
ICICI Bank Salaried For Women (Up to 30 lakhs) 8.45% 0.5% of loan amount plus service tax or Maximum Rs 10000
For Others (Up to 30 lakhs) 8.50%
For Women (30 lakhs to 75 lakhs) 8.75%
For Others (30 lakhs to 75 lakhs) 8.80%
Above 75 lakhs 8.85%
Self Employed For Women (Up to 30 lakhs) 8.60%
For Others ( Up to 30 lakhs) 8.65%
Above 30 lakhs to 75 lakhs 8.80%
Above 75 lakhs 8.85%
PNB Housing Finance Salaried 8.50% Rs 10000
Self Employed 8.65% 0.50%
DHFL Salaried Up to 75 lakhs 8.70% 1% to 1.5% of loan amount
Above 75 lakhs to 1 crore 9.20%
1 crore to 1.5 crore 9.30%
1.5 crore and above 9.35%
Self Employed Up to 75 lakhs 8.80% 1% to 1.5% of loan amount
Above 75 lakhs to 1 crore 9.45%
1 crore to 1.5 crore 10%
1.5 crore and above 10.5%
Axis Bank Salaried Loan amount up to Rs 30 lacs 8.50% Rs.10,000/
Loan amount above Rs 30 lacs and up to Rs 75 lacs 8.65%
Loan amount above Rs 75 lacs 8.70%
Self Employed Loan amount up to Rs 30 lacs 8.55% Rs.10,000/
Loan amount above Rs 30 lacs and up to Rs 75 lacs 8.70%
Loan amount above Rs 75 lacs 8.75%
IDBI Bank Salaried / Self Employed For Women (Up to 30 lakhs) 8.45% 0.50% of loan amount (Plus applicable taxes)
Rs 2500(plus applicable taxes) to be collected at login and
balance at the time of sanction
For Others (Up to 30 lakhs) 8.50%
For Women (Above 30 lakhs and up to 75 lakhs) 8.60%
For Others (Above 30 lakhs and up to 75 lakhs) 8.65%
For Women (Above 75 lakhs) 8.70%
For Others (Above 75 lakhs) 8.75%
Tata Capital Salaried & Self Employed Professionals Loan Amount up to Rs. 30 Lakhs 8.50% Up to 0.5% of loan amount
Loan Amount between Rs. 30 Lakhs and Rs. 75 Lakhs 8.65%
Loan Amount above Rs. 75 Lakhs 8.75%
Self Employed Non Professionals Loan Amount up to Rs. 30 Lakhs 8.75%  
Loan Amount between Rs. 30 Lakhs and Rs. 75 Lakhs 8.95%
Loan Amount above Rs. 75 Lakhs 9.05%
Punjab National Bank Salaried / Self Employed For Women (Up to Rs 75 lakhs) 8.60% For Rs. 300 lakhs - 0.50% of loan amount Maximum Rs. 20000
For above - Rs. 50000
For Others (Up to Rs 75 lakhs) 8.65%
For Women (Above Rs 75 lakhs) 8.65%
For Others (Above Rs 75 lakhs) 8.70%
Bank of India Salaried / Self Employed Up to Rs.30 lacs 8.40% 0.25% of loan amount Min.Rs.1,000 and
Max. Rs. 20,000
Above Rs.30 lacs (CIBIL score 760 and above) 8.40%
Above Rs.30.00 lacs (CIBIL Score below 760) 8.50%
Syndicate Bank Salaried / Self Employed 8.60%
Up to Rs 25 lacs 0.125% of loan amount with a minimum of Rs 500 and a maximum of Rs 2500
Above Rs 25 lacs to Rs 75 lacs 0.125% of loan amount with a maximum of Rs 3250
Above 75 lakhs Rs 5000 flat
Canara Bank Salaried / Self Employed For Women (Up to Rs. 30
Lakhs)
8.45% Nominal processing fee of 0.50% (Min Rs.1500/- and Max. Rs.10,000/-)
For Others (Up to Rs. 30
Lakhs)
8.50%
For Women (Above Rs 30
Lakhs & Up to
Rs. 75 Lakhs)
8.55%
For Others (Above Rs 30
Lakhs & Up to
Rs. 75 Lakhs)
8.60%
For Women (Above Rs.75 Lakhs) 8.60%
For Others (Above Rs.75 Lakhs) 8.65%
United Bank of India Salaried / Self Employed 8.50% Processing charge: 0.59%, Minimum Rs.1180, Maximum Rs.11800
IIFL Salaried / Self Employed 8.50% Rs 2500* to 0.75%* of Loan amount
Standard Chartered Salaried 8.60% Rs 5000
Self Employed 8.60% 0.25% of Loan Amount
Yes Bank Salaried 9.50% 1%
Self Employed 9.50% 1%

*The interest rates provided above are of key Banks and Housing Companies Operating in India, indicative and liable to change periodically.

*Figures mentioned in the above table are subject to change without prior information.

The final interest rate charged by the bank to the customer would be based on various other factors at the discretion of the lender.

The variation in Home Loan Interest rates may occur on the basis of key factors such as applicant’s credit score, prior lender-borrower relationship and the loan amount applied for.

Home Loan
4.2 / 5 (10 Reviews)

Home Loan

PaisabazaarHome Loan
4/5

Very good facilities by Paisabazaar

I visited the website to check personal finance products. The website helped me a lot to clear my confusion between Personal Loan and a Home Loan. Finally I applied for a Home Loan to buy a new house. It took me less than 2 minutes to fill in the loan application page. Further, I selected few l..Read more...


Posted on: Jan 20 , 2017
PaisabazaarHome Loan
4/5

Nice website

The website is very nice. Right now I am just planning to apply for a home loan. I downloaded my credit score and used the free tools to check my eligibility and the EMIs that I would have to pay on my loan. This website helped me a lot to plan my budget better for future. Very nice and helpful..Read more...


Posted on: Jan 12 , 2017
PaisabazaarHome Loan
4/5

Approved within a week

I applied for a home loan from this website and it got approved in just 1 week. The website showed me a list of all the home loan schemes as per my eligibility. Good services by Paisabazaar.


Posted on: Jan 12 , 2017
PaisabazaarHome Loan
4/5

Simple and very convinient

I applied for this SBI home loan and to my surprise I got the loan amount within a week. I was worried about as I have never used online process for banking or financial services. Paisabazaar was very helpful and the customer service people were very nice and polite. Good job by Paisabazaar.


Posted on: Dec 20 , 2016
PaisabazaarHome Loan
4/5

Excellent

I applied for this SBI home loan and to my surprise I got the loan amount within a week. I was worried about as I have never used online process for banking or financial services. Paisabazaar was very helpful and the customer service people were very nice and polite. Good job by Paisabazaar.


Posted on: Dec 19 , 2016
PaisabazaarHome Loan
4/5

Very good experience

I had the best customer experience from Paisabazaar. I had some confusion about my interest rates so I called at their customer service number. A guy named Anil answered and he answered to all my queries very patiently. He notified me with all the important dates and interest rates that are cha..Read more...


Posted on: Dec 18 , 2016