Compare & Apply from the Best Home Loan Offers
Home Loan in Chennai – Features & Benefits
- Pre-approved offers for eligible customers
- Multiple pre-approved real estate projects to choose from
- A balance transfer, top-up, and overdraft facilities are available
- Low-interest rates and minimum documentation
- Zero prepayment charges on floating rate home loans
- Tax benefits on home loan principal and interest amount
- Fixed or floating interest rate options to choose from
Compare Home Loan Interest Rates for Top Banks & HFCs in Chennai
| Interest Rates (% p.a.) | |||
| Name of Lender | Up to 30 Lakh | Above 30 Lakh & upto 75 Lakh | Above 75 Lakh |
| State Bank of India | 6.70-7.65 | 6.70-7.75 | 6.70-7.85 |
| HDFC | 6.70-8.45 | 6.70-8.60 | 6.70-8.70 |
| Axis Bank | 6.75-11.50 | 6.75-11.50 | 6.75-11.50 |
| ICICI Bank | 6.70-7.55 | 6.70-7.55 | 6.70-7.55 |
| Kotak Mahindra Bank | 6.55 onwards | 6.55 onwards | 6.55 onwards |
| PNB Housing Finance | 6.99-12 | 6.99-12 | 7.15-12 |
| Punjab National Bank | 6.55-7.95 | 6.50-7.65 | 6.50-7.60 |
| Bank of Baroda | 6.50-8 | 6.50-8 | 6.50-8.25 |
| Union Bank of India | 6.40-7.60 | 6.40-7.65 | 6.40-7.65 |
| IDFC First Bank | 6.90 onwards | 6.90 onwards | 6.90 onwards |
| L&T Housing Finance | 6.75 – 7.75 | 6.75 – 7.75 | 6.75 – 7.75 |
| Bajaj Finserv | 6.70-14 | 6.70-14 | 6.70-14 |
| Godrej Housing Finance | 6.49 onwards | 6.49 onwards | 6.49% onwards |
| Tata Capital | 6.70 onwards | 6.70 onwards | 6.70 onwards |
| LIC Housing Finance | 6.66-7.85 | 6.66-8.05 | 6.66-8.05 |
Note: Interest rates offered by banks, NBFCs/ HFCs are subject to change as per RBI’s directives and lenders’ discretion.
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Calculate Home Loan EMI
A home loan calculator is a simple tool for calculating home loan EMIs in advance. To compute monthly EMIs, simply enter values such as loan amount, tenure, and interest rate. You can change any of the parameters to find the best choice for you, and you can also compare different loans from different lending institutions.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Eligibility Criteria for Home Loan
Eligibility for Salaried applicant
- Nationality – Resident Indians, Non-Resident Indians (NRIs) & Persons of Indian Origin (PIOs)
- Age – 18 to 70 years
- Work experience/ business continuity – At least 2 years
- Net minimum income/salary – At least Rs. 25,000
- Credit Score – Credit Score of 750 and above can help in availing lower interest rates
Eligibility for Self-employed applicant
- Nationality – Resident Indians, Non-Resident Indians (NRIs) & Persons of Indian Origin (PIOs)
- Age – 21 – 70 years
- Work experience/ business continuity – At least 3 years
- Net minimum income/salary – At least Rs. 5 lakh
- Credit Score – Credit Score of 750 and above can help in availing lower interest rates
Documents Required for Home Loan in Chennai
Documents required to apply for a home loan in Chennai are:
- Filled and signed home loan application form
- KYC Documents
- Proof of Address
- Passport size photographs
- Form 16 or latest salary slips (for salaried applicants)
- Bank account statements of last 6 months
- Proof of Business Continuity (for Businessmen/ self-employed individuals)
- Property related documents
List of Other Lenders Offering Home Loan in Chennai
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Indian Overseas Bank
- Punjab and Sind Bank
- UCO Bank
- Federal Bank
- Karnataka Bank
- RBL Bank
- Bandhan Bank
- South Indian Bank
Check the complete list of Housing Finance Companies in India.