Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Bangalore
| Interest Rates (% p.a.) | |||
| Name of Lender | Up to 30 Lakh | Above 30 Lakh & up to 75 Lakh | Above 75 Lakh |
| State Bank of India | 6.65 – 7.65 | 6.65 – 7.65 | 6.65 – 7.65 |
| HDFC | 7.00-8.45 | 7.00-8.45 | 7.00-8.45 |
| Axis Bank | 7.00-11.90 | 7.00-11.90 | 7.00-11.90 |
| ICICI Bank | 7.10-7.95 | 7.10-7.95 | 7.10-7.95 |
| Kotak Mahindra Bank | 7.00 onwards | 7.00 onwards | 7.00 onwards |
| PNB Housing Finance | 6.75-12.00 | 6.75-12.00 | 6.90-9.75 |
| Punjab National Bank | 6.95-8.35 | 6.90-8.05 | 6.90-8.00 |
| Bank of Baroda | 6.90-8.40 | 6.90-8.40 | 6.90-8.65 |
| Union Bank of India | 6.90-8.65 | 6.90-8.85 | 6.90-8.85 |
| IDFC First Bank | 7.10 onwards | 7.10 onwards | 7.10 onwards |
| L&T Housing Finance | 6.75 – 7.75 | 6.75 – 7.75 | 6.75 – 7.75 |
| Bajaj Housing Finance | 6.65 onwards | 6.65 onwards | 6.65 onwards |
| Godrej Housing Finance | 6.94-9.99 | 6.94-9.99 | 6.94-9.99 |
| Tata Capital | 7.15 onwards | 7.15 onwards | 7.15 onwards |
| LIC Housing Finance | 6.90-8.00 | 6.90-8.20 | 6.90-8.40 |
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Home Loan Features
- Interest rates start usually @ 6.65% p.a.
- Tenures might range up to 30 years
- LTV ratio: 90% of property cost
- Home loan balance transfer of existing home loans from bank/HFC to other bank/HFCs at lower interest rates
- Top-up facility to existing home loan borrowers to meet their personal requirements
- Home loan overdraft option to ensure higher liquidity and interest cost savings
- Pre-approved instant home loans to select customers
- Pradhan Mantri Awas Yojna: Credit linked interest subsidy of up to Rs 2.76 lakh for EWS, LIG, MIG-I, MIG-II
- No pre-payment charges
Income Requirements of Home Loan in Bangalore
At least Rs 15,000 p.m. for salaried applicants; can be more for some Banks/NBFCs
Eligibility Criteria of Home Loans in Bangalore
- The applicant should be an Indian Resident, NRI, PIO
- Minimum Age- 21 years; Maximum Age- Up to 70 years when loan matures
- Job Profile: Salaried (government and corporate employees)/Self-Employed Professional (Doctors, CS, lawyers, CA, architect, consultant, engineer)/Self-Employed Non-Professional (contractor, trader, commission agent)
- Work experience: At least 3 years
- CIBIL/Credit score should be 750 and above for increased chances of availing home loan and at lower interest rates
Check Your Free Credit Score to know your home loan eligibility Check Now
Documents Required for Home Loans in Bangalore
For Salaried Applicants
- Aadhaar card, voter ID, driving license, PAN card, passport, for KYC
- Income Proof: Salary slips for last 3 months, Bank statement for past 6 months with salary credits, ITR/Form-16
- Bank statement showing repayment history
- Employment contract
- Own contribution proof
- Property related documents
- Processing fee cheque
Additional Documents for Self-Employed Applicants
- Recent Form 26AS
- Business profile
- Memorandum and Articles of Association of the company
- Balance sheet and profit & loss account statement for last 3 years
- Income Proof: ITR with income computation for past 3 years
- Savings account statement of individual for last 6 months and current account statement of business entity