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Home Loans in Chennai

Home Home Loan Home Loan in Chennai

Home loans in Chennai are offered @ 7.35% p.a. onwards for loan amounts of up to 90% of property value and tenures of up to 30 years. Some banks and Housing Finance Companies (HFCs) offer special schemes for affordable housing and those lacking formal income documents. Many lenders also offer home loan balance transfer facility to existing home loan borrowers of other banks/HFCs at lower interest rates.

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Updated: 08-09-2025 12:09:38 PM

Compare Home Loan Interest Rates of Top Banks & HFCs in Chennai 

Name of LenderLoans of Up to Rs. 30 Lakh
Bank of India7.35% p.a. onwardsCheck Eligibility
State Bank of India7.50% p.a. onwardsCheck Eligibility
Punjab National Bank7.50% p.a. onwardsCheck Eligibility
Canara Bank7.40% p.a. onwardsCheck Eligibility
HDFC Bank7.90% p.a. onwardsCheck Eligibility
Bajaj Housing Finance7.45% p.a. onwardsCheck Eligibility
ICICI Bank8.75% p.a. onwardsCheck Eligibility
Axis Bank8.30% p.a. onwardsCheck Eligibility
Federal Bank8.75% p.a. onwardsCheck Eligibility
Kotak Mahindra Bank7.99% p.a. onwardsCheck Eligibility
IDFC FIRST Bank8.85% p.a. onwardsCheck Eligibility
IDBI Bank7.55% p.a. onwardsCheck Eligibility
RBL Bank8.20% p.a. onwardsCheck Eligibility
Tata Capital Housing Finance7.75% p.a. onwardsCheck Eligibility
PNB Housing Finance8.25% p.a. onwardsCheck Eligibility
Sammaan Capital
(Formerly known as Indiabulls Housing Finance)		8.75% p.a. onwardsCheck Eligibility
India Shelter Home Loan10.50% p.a. onwardsCheck Eligibility
L&T Finance Limited8.70% p.a. onwardsCheck Eligibility
Godrej Housing Finance7.75% p.a. onwardsCheck Eligibility
Home First Finance8.00% p.a. onwardsCheck Eligibility
Easy Home Finance11% p.a. onwardsCheck Eligibility
Piramal Capital Housing Finance9.49% p.a. onwardsCheck Eligibility
Shubham Housing Finance10.45% p.a. onwardsCheck Eligibility
Punjab & Sind Bank7.55% p.a. onwardsCheck Eligibility
Jio Housing Finance8.20% p.a. onwardsCheck Eligibility
HDFC Sales Pvt Ltd7.90% p.a. onwardsCheck Eligibility

Note: Last Updated on 8 September 2025

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Home Loan Features

  • Home loans in Chennai can be availed at interest rates from 7.35% p.a. onwards
  • Tenure can go up to 30 years
  • Loan amount can go up to 90% of the property value
  • Pre-approved home loans are offered to select existing customers having good credit profile
  • No pre-payment or foreclosure charges are levied on floating rate home loans
  • Top-up home loans are offered to existing home loan borrowers to meet their business/personal requirements or carrying out renovation, improvement, extension, etc to their properties
  • Home loan balance transfer are offered to existing home loan borrowers of other lenders at lower home loan rates
  • Home Loan overdraft facility is also offered to the home loan applicants to help their reduce their interest cost while retaining liquidity

Income Requirements of Home Loan in Chennai Minimum monthly income requirement- Rs 15,000; can be higher for some lenders.

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Eligibility Criteria of Home Loans in Chennai

  • Age- 21 years at the time of loan application
  • At least 3 years of work experience for both salaried and self-employed
  • Applicant should be Indian national, PIO, NRI. Some lenders also offer special home loan schemes branded as NRI Home Loans to their NRI/PIO applicants.
  • Credit Scores of 730 and above increase chances of availing home loans and at lower interest rates
  • Job profile of the applicant: Salaried applicants working Government, PSUs and corporate sectors; Self-Employed Non-Professionals such as contractor, trader, commission agent, etc; Self-Employed Professionals such as Doctors, CS, lawyers, CA, architect, consultant, engineer, etc
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Documents Required for Home Loans in Chennai

For Salaried Applicants

  • KYC documents: PAN card, passport, voter ID, Aadhaar card, driving license
  • Employment contract/appointment letter if the job is less than a year old
  • Income Proof: Salary slips for last 3 months, Bank statement for past 6 months with salary credits, ITR/Form-16
  • Own contribution proof
  • Property documents
  • Bank statement showing loan repayment history
  • Processing fee cheque

Additional Documents for Self-Employed Applicants

  • Current account statement of business entity
  • Business profile
  • Recent Form 26AS
  • Income Proof: ITR with income computation for past 3 years
  • Balance sheet and profit & loss account statement for last 3 years
  • Savings account statement of individual for past 6 months
  • Memorandum and Articles of Association of the company

Also Check Home Loan EMI Calculator

Other Home Loan Options in Chennai
Home Loan Eligibility Pages
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