Home Loans in Gorakhpur

Comparison Table of Home Loan Interest Rates offered by Top Banks/HFCs in Gorakhpur

Name of Lender	Loans of Up to Rs. 30 Lakh
Bank of India	7.10% p.a. onwards	Check Eligibility
State Bank of India	7.25% p.a. onwards	Check Eligibility
Punjab National Bank	7.20% p.a. onwards	Check Eligibility
Canara Bank	7.15% p.a. onwards	Check Eligibility
HDFC Bank	7.90% p.a. onwards	Check Eligibility
Bajaj Housing Finance	7.40% p.a. onwards	Check Eligibility
ICICI Bank	7.65% p.a. onwards	Check Eligibility
Axis Bank	*8.25% p.a. onwards	Check Eligibility
Federal Bank	*7.90% p.a. onwards	Check Eligibility
Kotak Mahindra Bank	7.70% p.a. onwards	Check Eligibility
IDFC FIRST Bank	8.85% p.a. onwards	Check Eligibility
IDBI Bank	7.35% p.a. onwards	Check Eligibility
RBL Bank	8.20% p.a. onwards	Check Eligibility
Tata Capital Housing Finance	7.75% p.a. onwards	Check Eligibility
PNB Housing Finance	*7.20% p.a. onwards	Check Eligibility
Sammaan Capital (Formerly known as Indiabulls Housing Finance)	8.75% p.a. onwards	Check Eligibility
India Shelter Home Loan	8.43% p.a. onwards	Check Eligibility
L&T Finance Limited	*8.40% p.a. onwards	Check Eligibility
Godrej Housing Finance	7.75% p.a. onwards	Check Eligibility
Home First Finance	8.00% p.a. onwards	Check Eligibility
Easy Home Finance	8.99% p.a. onwards	Check Eligibility
Piramal Capital Housing Finance	*8.25% p.a. onwards	Check Eligibility
Shubham Housing Finance	10.45% p.a. onwards	Check Eligibility
Punjab & Sind Bank	7.30% p.a. onwards	Check Eligibility
Jio Housing Finance	8.20% p.a. onwards	Check Eligibility
HDFC Sales Pvt Ltd	7.90% p.a. onwards	Check Eligibility

Note: Interest rates as of 8 September 2025

Features of Home Loans offered in Gorakhpur

• Banks, non-banking financial companies (NBFCs) and housing finance companies (HFCs) offer home loan interest rates from 7.35% p.a. onwards for new housing loan borrowers.
• The maximum tenure for home loans offered by most lenders in Gorakhpur can go up to 30 years.
• As per the RBI’s guidelines on loan to value (LTV) ratio for home loans, the home loan amount can go up to 90% of the property value. The final LTV ratio offered by lenders for their home loan applicants is dependent solely on the sanctioned loan amount:

Home Loan Amount	Home Loan LTV Ratio
Up to Rs 30 lakh	Up to 90% of total cost of property
Above Rs 30 lakh and up to Rs 75 lakh	Up to 80% of total cost of property
Above Rs 75 lakh	Up to 75% of total cost of property

• Existing home loan borrowers in Gorakhpur can also exercise the home loan balance transfer option to move their existing home loan to other lenders at lower interest rates.
• Banks, NBFCs and HFCs offer home loan top-up for their existing borrowers. Home loan customers can avail top-up loans and use the funds to fulfil their personal, professional and business related needs.
• Lenders offering home loans in Gorakhpur also provide pre-approved home loans to their select existing borrowers based on their income, credit scores and other aspects of their credit profile.
• The RBI has formulated guidelines for banks, NBFCs and HFCs on prepayment of home loans. These home loan prepayment rules state that lenders cannot levy prepayment charges on home loans availed at floating interest rates. However, lenders providing home loans at fixed interest rates can charge home loan prepayment fees. Home loan lenders can also waive off the prepayment charges, either fully or partially, on loans availed at fixed interest rates.

Minimum Income Requirements for Availing Home Loans in Gorakhpur

Home loan lenders in Gorakhpur are more likely to approve loan applications of salaried applicants with monthly incomes of at least Rs 10,000 and self-employed applicants with minimum annual income of Rs 1 lakh.

Eligibility Criteria of Home Loans in Gorakhpur

Although prospective borrowers can check home loan eligibility criteria decided by their lenders while applying for the loan, home loan lenders in Gorakhpur would usually consider the following parameters for evaluating their home loan eligibility:

Job Profile

Home loan lenders in Gorakhpur offer loans to both salaried and self-employed loan applicants.

Age

Banks, HFCs and NBFCs offering home loans in Gorakhpur usually prefer loan applicants aged 18 years and above. However, lenders also stipulate that their existing borrowers should clear the loan amount dues by the time they reach 70 years of age.

Nationality

Home loan lenders in Gorakhpur usually approve loan applications of resident Indians with some lenders also offering NRI Home Loans to NRI, PIO and OCI loan applicants.

Credit Score

Banks, HFCs and NBFCs offering home loans in Gorakhpur usually prefer sanctioning loan applications of individuals with credit scores of 730 and above because they consider them as creditworthy. Home loan applicants with higher credit scores are also more likely to qualify for lower home loan interest rates on their housing loans.

Work Experience

Home loan lenders in Gorakhpur usually sanction loans of individuals with minimum 2 years of work experience or business continuity.

Documents Required for Home Loans in Gorakhpur

Although every bank, HFC or NBFC offering a home loan in Gorakhpur requires their loan applicants to submit multiple home loan documents required to avail a housing loan, some of the main documents required for availing home loans are mentioned below:

For salaried applicants

• Proof of age/identity: PAN card, Aadhaar Card, Voter ID, birth certificate, driving Licence, bank passbook, etc.
• Income proof: Employment contract, last 3 month salary slips, letter of promotion, increment letter, income tax returns, Form 16, etc.
• Residence proof: Ration Card, bank passbook, Voter ID, utility bills (electricity, gas, telephone), LIC policy receipt, etc.
• Proof of own contribution
• Cheque for home loan processing fees
• Loan applicants’ bank statements reflecting repayment of existing loans, if any
• Property related documents

Additional documents required by self-employed applicants availing home loans

• Income tax returns of last 3 years
• P&L account statements & balance sheet of last 3 years, duly attested by a Chartered Accountant (CA)
• Savings account statement of home loan applicants and current account statement of their business entity of last 6 months
• Proof of business address
• Updated 26AS form
• Details of business license of the home loan applicant
• Business profile of home loan applicants

Note: Lenders offering home loans in Gorakhpur may ask their loan applicants to submit additional documents, apart from the ones mentioned above, depending on their requirements.