Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Kolkata
| Name of Lender | Up to 30 Lakh | Above 30 Lakh & up to 75 Lakh | Above 75 Lakh |
| SBI Home Loan | 7.55-8.55 | 7.55-8.45 | 7.55-8.45 |
| HDFC | 7.55-8.75 | 7.55-9.00 | 7.55-9.10 |
| Axis Bank | 7.60-12.50 | 7.60-12.50 | 7.60-8.05 |
| ICICI Bank | 7.60-8.20 | 7.60-8.35 | 7.60-8.45 |
| Kotak Mahindra Bank | 7.50 onwards | 7.50 onwards | 7.50 onwards |
| PNB Housing Finance | 7.50–16.75 | 7.50–16.75 | 7.60–10.70 |
| Punjab National Bank | 7.45-8.85 | 7.40-8.55 | 7.40-8.50 |
| Bank of Baroda | 7.45-8.95 | 7.45-8.95 | 7.45-9.20 |
| Union Bank of India | 7.40- 9.15 | 7.40- 9.15 | 7.40- 9.35 |
| IDFC First Bank | 7.50 onwards | 7.50 onwards | 7.50 onwards |
| L&T Housing Finance | 7.20-8.20 | 7.20-8.20 | 7.20-8.20 |
| Bajaj Housing Finance | 7.20 onwards | 7.20 onwards | 7.20 onwards |
| Godrej Housing Finance | 7.49-10.99 | 7.49-10.99 | 7.49-10.99 |
| Tata Capital | 7.75 onwards | 7.75 onwards | 7.75 onwards |
| LIC Housing Finance | 7.50-8.60 | 7.50-8.80 | 7.50-9.00 |
Note: Interest rates offered by banks, NBFCs/ HFCs are subject to change as per RBI’s directives and lenders’ discretion.
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Home Loan Features
- Interest rates start usually @ 6.75% p.a. onwards
- Tenures are flexible mostly up to 30 years
- Loan amount is up to 90% of property cost
- Pradhan Mantri Awas Yojna, a special home loan scheme for EWS, LIG, MIG-I and MIG-II with credit linked interest subsidy of up to Rs 2.76 lakh
- Pre-payment charges: NIL
- Pre-approved instant home loans offered to select customers
- Top-up home loans offered to existing home loan borrowers for fulfilling their personal financial requirements
- Home loan balance transfer facility to existing home loan borrowers of other banks/HFCs at lower interest rates
- Home loan overdraft facility to save interest costs and for higher liquidity
Income Requirements
Minimum monthly income required is Rs 15,000 for salaried applicants. However, it can be higher for some banks/HFCs
Eligibility Criteria of Home Loans in Kolkata
- The home loan applicant should be an NRI, Indian Resident or PIO
- Minimum Age of the applicant should be 21 years; maximum age should be up to 70 years (at the time of loan maturity)
- Job Profile: Salaried (government and corporate employees)/Self-Employed Professional (Doctors, CS, architect, lawyers, CA, consultant, engineer)/Self-Employed Non-Professional (contractor, trader, commission agent)
- Salaried and self-employed applicants should have a minimum work experience of 3 years
- CIBIL/Credit score should be 750 and above for increased chances of availing home loan and at lower interest rates
Documents Required for Home Loans in Kolkata
For Salaried Applicants
- KYC documents: PAN card, passport, voter ID, Aadhaar card, driving license
- Income Proof: Salary slips for last 3 months, Bank statement for past 6 months with salary credits, ITR/Form-16
- Employment contract
- Bank statement showing repayment history
- Property documents
- Own contribution proof
- Processing fee cheque
Additional Documents for Self-Employed Applicants
- Income Proof: ITR with income computation for past 3 years
- Memorandum and Articles of Association of the company
- Latest Form 26AS
- Balance sheet and profit & loss account statement for last 3 years
- Business profile
- Savings account statement of individual for last 6 months and current account statement of business entity