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Quick Facts - Home Loan at a Glance (2026)

Home Loan Feature Details
Interest Rate 7.10% p.a. onwards, as of Sep 2026
Loan Amount Up to ₹10 Crore
Tenure Up to 30 years
Processing Fee 1% – 2% of loan amount
Approval Time Generally 1–2 weeks, depending on applicant and property profile
Lenders 25+ banks and HFCs

Last Updated: 21 September 2026

What is Home Loan?

Home loan is a secured loan facility, which banks and Housing Finance Companies (HFCs) offer for purchasing, constructing, renovating, repairing and extending an existing/ new residential property. The loan is backed by the underlying property till the loan repayment. In case of default by the borrower, the lender has the legal right to take the concerned property into possession and then auction the property to recover the unpaid loan amount.

Find Best Home Loan Offers

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HDFC Bank
Min Loan Amt. ₹15L
Rate of Interest7.2% - 13.2%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
ICICI Bank
Min Loan Amt. ₹15L
Rate of Interest7.65% - 9.80%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
Axis Bank
Min Loan Amt. ₹30L
Rate of Interest8.35% - 11.90%
Tenure uptoUpto 30 Years
Processing Fee₹ 14,000

How a Home Loan Works?

  • A home loan is sanctioned based on the applicant’s income, credit score and repayment capacity.
  • The property’s value and legal status is also considered while approving the home loan.
  • The lender, usually, approves up to 75 to 90% of the property value as loan.
  • The interest is charged as fixed or floating type as chosen at the time of application.
  • Once the loan is sanctioned, it is disbursed in full or in parts, depending on whether the property is ready or under construction.
  • The loan has to be repaid through EMIs comprising of the principal and the interest component.
  • The property documents remain with the lender till the loan is repaid in full.
  • Once the loan is repaid, the lender closes the loan account and hands over the property document and loan closure documents.
  • A successful closure of home loan helps improve the credit score significantly.

Key Features & Benefits of Taking a Home Loan through Paisabazaar

  • 25+ Home Loan Lenders

    Offers from 30+ Lenders

    Explore home loan offers from 30+ banks and HFCs to find a loan that suits your requirements and eligibility.

  • Home Loan Amount

    Flexible Loan Amount

    Depending on your eligibility and the lender's policy, you can avail a home loan of up to Rs. 30 crore.

  • Home Loan Repayment Tenure

    Flexible Repayment Tenure

    Choose a repayment tenure of up to 30 years based on your loan amount, eligibility and repayment capacity.

  • Quick Home Loan Approval

    Quick Approval & Disbursal

    Eligible applicants may receive home loan approval and disbursal within a few days, subject to the lender's verification and approval process.

  • Digital Home Loan Application

    100% Digital Application

    Compare home loan offers, check your eligibility and apply online with expert assistance throughout the application process.

  • Home Loan Interest Rates

    Low Interest Rates

    Home loan interest rates starting from 7.10%* p.a., subject to lender terms and applicant eligibility.

Home Loan Interest Rates

Home loan interest rates start from 7.10% p.a. on Paisabazaar. Here is a comparison of Home loan offers from India's top banks and HFCs to help you choose the right loan based on interest rates, loan amount, and other key features.

Top Banks and HFCs Offering Home Loans

Bank Min Loan Amt. Max Loan Amt. Rate of Interest Tenure upto Processing Fee
Axis Home Loan ₹30L — 8.35% - 11.90% Upto 30 Years ₹14,000
Bajaj Home Loan ₹50L — 7.30% - 10.80% Upto 32 Years Upto 0.4%
Canara Home Loan — Upto ₹30L 7.20% - 10.25% Upto 30 Years ₹20,000
Easy Home Finance Home Loan — Upto ₹30L 10.80% - 18% Upto 25 Years ₹50,000
Federal Home Loan ₹50L — 8.75% p.a. onwards Upto 30 Years ₹0
HDFC Home Loan ₹15L — 7.2% - 13.2% Upto 30 Years ₹10,000
ICICI Home Loan ₹15L — 7.65% - 9.80% Upto 30 Years ₹10,000
IDBI Home Loan ₹30L — 7.55% - 11.55% Upto 30 Years ₹14,000
IDFC FIRST Home Loan — Upto ₹10 Cr 8.85% - 18% Upto 30 Years Upto 3%
Jio Credit Ltd ₹30L — 8.20% - 18% Upto 25 Years ₹10,000
L&T Finance Home Loan ₹15L — 7.65% - 18% Upto 30 Years ₹10,000
Piramal Home Loan ₹3L — 9.99% - 18% Upto 30 Years ₹10,000
PNB Home Loan ₹3L — 7.20% - 9.10% Upto 30 Years ₹20,000
SBI Home Loan ₹30L — 7.25% - 8.95% Upto 30 Years ₹18,214
Tata Housing Home Loan ₹15L — 7.75% - 18% Upto 30 Years ₹10,000

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Home Loan EMI Calculator

₹
1L10Cr
6%30%
1Yr30Yr

Your Monthly EMI Payment

₹0

Principal Amount₹0
Interest Amount₹0
Total Amount₹0

EMI Calculation Formula

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]

Meaning of Variables

  • P = Loan Amount (Principal amount borrowed)
  • R = Monthly Interest Rate (Annual Interest Rate ÷ 12 ÷ 100)
  • N = Loan Tenure in Months (Number of monthly installments)

Home Loan EMI for Common Loan Amounts (at 7.50% p.a.)

Loan Amount 5 Years 10 Years 15 Years 20 Years 30 Years
₹15 lakh ₹30,057 ₹17,805 ₹13,905 ₹12,084 ₹10,488
₹25 lakh ₹50,095 ₹29,675 ₹23,175 ₹20,140 ₹17,480
₹30 lakh ₹60,114 ₹35,611 ₹27,810 ₹24,168 ₹20,976
₹50 lakh ₹1,00,190 ₹59,351 ₹46,351 ₹40,280 ₹34,961
₹75 lakh ₹1,50,285 ₹89,026 ₹69,526 ₹60,420 ₹52,441
₹1 crore ₹2,00,379 ₹1,18,702 ₹92,701 ₹80,559 ₹69,921

Example: A ₹50 lakh home loan at 7.50% p.a. would have an estimated EMI of ₹40,280 per month for 20 years, compared with ₹34,961 per month for 30 years.

Note: EMIs are calculated using the standard reducing-balance EMI formula and rounded to the nearest rupee.

Applying for a Home Loan through Paisabazaar vs. Directly with a Lender

The cost of long-tenure loans, such as home loans, may increase significantly even with small interest rate differences. Those opting for the first available offer may end up paying higher overall interest on their home loans. However, comparing eligible home loan offers from 30+ banks and HFCs and selecting the most suitable and affordable home loan offer through Paisabazaar has helped borrowers save significantly on their loan cost. Let us understand how:

Factor Through Paisabazaar Direct with a Single Lender
Offers comparison Offers from 30+ banks & HFCs on one platform Only one lender’s offer
Interest rate Compare lowest interest rates starting at 7.1% p.a., with some lenders offering special rates on Paisabazaar Single interest rate offered depending on the borrower’s risk profile and lender policies
Approval chances Higher approval chances as loans are offered from multiple lenders with accommodating lender policies No visibility into approval odds until an applicant applies for the loan
Credit score impact Eligibility check for a home loan on Paisabazaar has zero impact on the credit score Some lenders may run a hard inquiry even at the pre-qualification stage and impact credit score
Documentation Submit once, get matched across all eligible lenders Submit all documents separately for each bank and HFC
Time to compare 3+ lenders Instant comparison of offers from both banks and HFCs Individual application for each lender, may take from hours to days
Extra benefits Assured cashback on eligible loan approvals, expert support throughout the approval process Standard bank service only with limited expert support

Home Loan Processing Fees and Other Charges

Home loan processing fees may vary widely based on lenders and credit profiles of loan applicants. To get a fair idea of the home loan fees and charges, read the table below:

Particulars Charges
Processing Fee 1% – 2% of loan amount
Foreclosure/Prepayment Charges For floating rate: Nil
For fixed rate: Around 2% – 4% on the principal outstanding
Overdue Charges on EMI 2% per month of the unpaid EMI
EMI Bounce Charges Around Rs 400
Legal Fee As per Actuals

Home Loan Eligibility - Criteria to Qualify

Home loan eligibility may vary across lending institutions and home loan schemes. However, a common set of housing loan eligibility criteria is given below:

Age Requirement

  • Minimum Age: 18 years whereas some lenders set the minimum age of 21 years
  • Maximum Age: Usually 70 years at the time of loan maturity with some lenders extending the tenure till 75 years of age

Minimum Income

  • Minimum Salary: At least Rs. 25,000 per month (varies across lenders & locations)
  • Monthly Income: Many lenders prefer self-employed applicants to have an income above Rs. 30,000.

Credit Score

  • Lenders prefer applicants to have credit score of 730 or above
  • Higher the score, better are the offers and lower can be the interest rate offered

Employment Type

  • Both salaried and self-employed individuals are eligible for home loans
  • As the risk in case of salaried individuals is less, such applicants tend to get better loan offers

Existing Liabilities/EMIs

  • A low Debt to Income (DTI) ratio, generally below 50 – 55%, is preferred by lenders
  • A high DTI ratio increases the credit risk leading to stricter loan terms and higher rates

Property Documentation

  • Properties with proper documentation helps in faster approval and higher loan eligibility.
  • Approved building plans, local authority clearances and completion certificates helps get better loan offers

Apart from the factors mentioned above, lenders may require applicants to fulfil additional eligibility such as,

Documents Required to Apply for a Home Loan

Lenders require documents from their home loan applicants as a proof to establish their identity, place of residence, income and repayment capacity. These documents may vary across lenders based on the individual credit profile, property type, home loan type, etc.

Given below are the key home loan documents that an applicant will need to furnish when applying for the loan.

Proof of Identity PAN Card, Passport, Aadhaar Card, Voter ID Card or Driving License
Proof of Residence Bank Passbook, Voter ID Card, Ration Card, Passport, Utility Bills or LIC Policy Receipt
Proof of Income for Salaried Form 16, Salary Slips, ITR of past 3 years, Investment Proofs (if any)
Proof of Income for Self-Employed Business License Details, Proof of Business Address, ITR of last 3 years, Balance Sheet and Profit & Loss Account Statement of the Company/Firm
Property-related Documents NOC from Society/Builder, detailed estimate of the cost of construction of the house, registered sale deed, allotment letter and an approved copy of the building plan.
Other Documents If any previous loan from other lenders, then loan a/c statement for the last 1 year.

How to Apply for a Home Loan Online - Step by Step

Follow the steps mentioned below to apply for the most suitable home loan offer through Paisabazaar:

Step 1: Login to your Paisabazaar account (app or website)

Step 2: Click on the Home Loan icon to start your application process

Step 3: Enter/modify your requirements, such as amount, tenure, etc.

Step 4: Compare all offers and select the one that meets your requirements the best

Step 5: Apply for the loan and upload required documents

The lender verifies all details, approves the loan and disburses the amount. When you apply through Paisabazaar, you get expert assistance throughout the borrowing process from our loan expert.

Types of Home Loans in India

Loan Type What It Funds Typical Rate
Home purchase loan A ready or under-construction residential property 7.10% onwards
Home construction loan Building a house on a plot you already own 7.25% onwards
Plot loan Residential land, often bundled with construction 7.50% onwards
Home renovation loan Repairs, repainting, structural or interior work 7.75% onwards
Home extension loan Adding a room, floor or covered area 7.60% onwards
Home loan balance transfer Moving an existing loan to a cheaper lender 7.10% onwards
Top-up Home loan Additional borrowing on an existing home loan 8.25% onwards
Home loan overdraft A purchase loan with a linked OD account for parked surplus 7.35% onwards
Composite loan Land purchase plus construction in one sanction 7.50% onwards

Top Reasons Why Home Loan Applications Get Rejected

Your home loan application can be rejected due to several reasons, some of them are listed as below:

Low credit score

  • Your credit score is a numerical representation of how well you have handled credit in the past.
  • Having a low credit score usually indicates poor financial discipline, causing lenders to deem you as a risky borrower and reject your home loan application.
  • Applicants with a credit score of 730 and above usually have higher chances of getting loan approval.

Low loan repayment capacity

  • Lenders usually prefer offering home loans to those having their total loan EMI obligations, including the EMI of the proposed loan, within 50-55% of their monthly income.
  • Those exceeding this limit have lower chances of availing home loan.

Issues related to property

  • If the property doesn’t meet the lender’s requirements (e.g., value, condition) or does not adhere to the regulations of the local authorities, it can lead to loan rejection.
  • For instance, lenders will not approve your loan application if your property is in some legal dispute, does not have a clear title, is too old or is not authorised by the local authorities.

Multiple loan or credit applications within a short span

  • Lender-initiated requests of credit reports are known as hard enquiries.
  • With every initiated hard enquiry, credit bureaus generally reduce the applicant's credit score.
  • Making multiple hard inquiries within a short period may lead to a sharp decline in the applicant’s credit score, thus, reducing the chances of getting a home loan.

Ineligible occupation profile

Individuals whose occupation or employer profile is not among the lenders’ list of preferred occupation/employer profiles may not get their loans approved.

What Are the Tax Benefits Available on Home Loans in India?

House loan borrowers can avail tax benefits under various sections of the Income Tax Act. These home loan tax benefits help borrowers save a substantial amount of money every year. Below are the tax benefits that you can get on your home loan EMI payments:

Section of Income Tax Act Nature of Home Loan Tax Deduction Max. Tax Deductible Amt.
Section 24(b) Interest paid Rs. 2 lakh
Section 80C Principal (including stamp duty and registration fee) Rs. 1.5 lakh

It is noteworthy that these benefits can be claimed only if the borrower files the ITR under the old regime. These benefits are not applicable under the new tax regime. Joint home loan borrowers can benefit more if the principal and interest amount is considerably high.

Dos and Don’ts to Get Your Home Loan Approved Faster

Dos Don'ts
Keep your credit score at 730 or above Apply for home loan without checking your credit score
Limit your total EMI obligations within 50-60% of your net monthly income Use emergency fund for making higher down payment
Compare home loan offers from various lenders Apply with multiple lenders within a short span
Try making larger down payment to reduce LTV ratio Forgo existing investments for making higher down payment
Add a co-applicant for higher loan eligibility Plan EMI payments without considering the monthly contributions you need to make towards your crucial financial goals

Can I get a home loan for the entire property value?

No, you cannot take a home loan for the entire property value as the Reserve Bank of India (RBI) has limited the loan-to-value (LTV) ratio of housing loans. As per RBI guidelines, for loan amounts up to Rs 30 lakh, the LTV ratio can go up to 90% of the property value; for loan amounts above Rs 30 lakh and up to Rs 75 lakh, the LTV ratio limit is up to 80% of the property value and for loan amounts above Rs 75 lakh, the LTV ratio can go up to 75% of the property value.

This means that at least 10% of the remaining value has to be paid by the borrower as down payment. Subject to the caps set by the RBI on LTV ratios, banks/HFCs further fix the LTV ratio on the basis of the risk assessment and credit profile of the loan applicant. Those with lower creditworthiness are usually offered lower LTV ratio.

Government Schemes for Home Loans

The Government of India offers subsidies on home loans through the Pradhan Mantri Awas Yojana – Urban 2.0. Under this scheme, financial assistance of up to Rs 2.5 lakh per unit has to be provided to 1 crore urban poor and middle-class families for purchasing, building or renting affordable homes in urban areas.

Home Loan Balance Transfer

A home loan balance transfer can be a smart financial move if you want:

Lower Interest Rates

  • If your credit profile has improved over time, you may now be eligible for lower interest rates than what you were initially offered.
  • Transferring your loan to a lender offering better rates can reduce your EMIs and overall interest burden.

Longer Loan Tenure

  • Some lenders offer the option to extend your loan tenure beyond the residual term of your current loan.
  • This helps in lowering your monthly EMIs, although it might increase the total interest paid over the loan period.

Top-Up Loan Facility

  • Balance transfer applicants often become eligible for a top-up loan, which can be used for personal or professional purposes without end-use restrictions.
  • This is beneficial if your current lender isn’t offering a top-up loan or is charging a higher interest rate on it.

Additional Benefits

  • Switching to a new lender might also offer perks like zero processing fees, EMI waivers, or better customer service, enhancing your overall loan experience.
  • A balance transfer, however, may not be ideal if you’re in the later stages of your home loan tenure or if the net savings after deducting the applicable fees and charges such as processing fees (charged by the new lender) and foreclosure charges (applicable only in case of fixed rates) are minimal.
  • Always calculate the total cost-benefit before deciding to transfer your home loan.

Common Mistakes while Taking a Home Loan

  • Already having a high DTI ratio, generally above 60%, may reduce your chances of home loan approval.
  • Applying for 100% LTV ratio i.e., the loan amount equal to the property value, may lead to a loan rejection.
  • Applying for a number of loans in a short span can also lead to the loan rejection.
  • The home loan may get rejected if the property is in some legal dispute, does not have a clear title, is too old or is not authorised by the local authorities.
  • The lender may reject the loan request if income documents such as salary slips, ITR, P&L statement, etc. are not provided.

Home Loan vs Other Property Loan

Features Home Loan Loan Against Property Top-Up Loan
Interest rate 7.10% – 9.50% 9% – 13% 8.25% – 10.50%
Purpose Buy, build or renovate a home Any purpose Any purpose
Maximum funding 75–90% of property value 50–70% of property value Up to the original LTV cap
Tenure Up to 30 years Up to 15–20 years Up to the remaining home loan tenure
Tax benefit Yes, under 24(b) and 80C Only if used for business or a house purchase Only if used for house purchase or renovation
Best for Buying a home Large funding needs against an owned property Additional funds at near-home-loan rates

Consumer Research & Industry Insights for Home Loans

Publication Article Title Published On
Moneycontrol Housing loans spike 12% YoY fuelled by RBI rate cut cheer by 125 bps in 2025 30-Dec-25
Business Standard Home loan rates start at 7% in Aug: Check best offers by top lenders 27-Aug-26
The Hindu Home loan costs rising? Why a balance transfer could help you save big | Paisabazaar CEO explains 15-Jun-26
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FAQs

How to apply for a home loan online?

Visit Paisabazaar, enter your requirements, compare all loan offers and apply for the most suitable home loan based on your requirements that also align with your long-term goals.

Who is eligible for a home loan?

Even though the eligibility for a home loan varies from one lender to another, applicants in the age range of 21 to 65, earning Rs. 20,000 and above, having a high credit score and a low debt-to-income ratio are generally eligible for a home loan

What credit score is needed for a home loan?

Lenders usually prefer applicants to have a high credit score, preferably 760 or above. However, applicants with a relatively lower score can also be eligible but may have to service loans at stricter terms and higher rates

Can a self-employed person get a home loan?

Yes, self-employed applicants are also eligible for home loans provided they fulfill all eligibility requirements.

What is the interest rate on a home loan in 2026?

Home loan interest rates start from 7.1% p.a. as of September 2026.

How is home loan EMI calculated?

Home loan EMI is calculated on a reducing balance method. Initially, the interest component is higher, and the principal component keeps on increasing with the increasing loan duration.

How long does home loan approval take?

Home loan approval depends on the lender and the details furnished by the borrower, along with the scrutiny of documents. It can get approved in as little as 48 to 72 hours.

Why do home loan applications get rejected?

Home loan applications often get rejected due to incorrect details, limited repayment capacity, low credit score, not submitting complete documents, etc., to name a few.

What are the processing fees on a home loan?

Usually, lenders charge 0.5% to 4% of the loan amount as a processing fee, which is non-refundable in nature.

How much home loan can I get on my salary?

Eligible home loan depends on the fixed income to obligations ratio. Many lenders approve applications up to 65% of the in-hand salary if the borrower has no fixed monthly obligations.

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What our customers say

Time saving process

Office ke chalte jyada samay nahi nikal pata tha. Paisabazaar ke online process ki wajah se na hi mene banks ke rates compare karliye ghar bathe balki mera loan application aur disbursal bhi ghar bathe hi ho gaya...bank jana hi nahi pada...

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Pradeep SinghJan 7, 2026

Kam rates pe loan mila

Paisabazaar se mujhe bahut kam rate pe loan mil gaya...isse mere budget pe jada asar nahi pada aur jald hi mera apna ghar ho jayega..

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Nidhi SharmaJan 6, 2026

eligibility check ho jati hai free

me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

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Shikhar SahuJan 5, 2026

Home loan mila yaahaan par

Mujhe home loan chahiye tha aur yahaan par sahayta kiya inhone aur loan mila. Pehla loan tha mera lekin sab ache se ho gaya.

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Prem Prakash PandeyDec 7, 2025

Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

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Chandan SinghDec 1, 2025

Got the best home loan interest rate

I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

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Anu BhatnagarSep 10, 2021

Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

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KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

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Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

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Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

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Soumil KhannaSep 3, 2021
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