Home Loan in Kolkata

Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Kolkata

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50% - 10.15%	8.50% - 10.05%	8.50% - 10.05%
HDFC	8.50% - 10.35%	8.50% - 10.60%	8.50% - 10.70%
LIC Housing Finance	8.60% – 10.35%	8.60% – 10.55%	8.60% – 10.75%
ICICI Bank	9.00%-9.80%	9.00%-9.95%	9.00%-10.05%
Kotak Mahindra Bank	8.85% onwards	8.85% onwards	8.85% onwards
PNB Housing Finance	8.75% - 14.50%	8.75% - 13.00%	8.75%-11.35%
Punjab National Bank	8.65%-9.60%	8.60%-9.50%	8.60%-9.50%
Bank of Baroda	8.60% - 10.65%	8.60% - 10.65%	8.60% - 10.90%
Union Bank of India	8.50% – 10.75%	8.50% – 10.95%	8.50% – 10.95%
IDFC First Bank	8.85% onwards	8.85% onwards	8.85% onwards
L&T Housing Finance	8.60% onwards	8.60% onwards	8.60% onwards
Bajaj Housing Finance	8.50% onwards	8.50% onwards	8.50% onwards
Tata Capital	9.15% onwards	9.15% onwards	9.15% onwards
Federal Bank	10.15%-10.20%	10.20%-10.25%	10.25%-10.30%

Note: Rates as of 5th June 2023  

Home Loan Features

• Interest rates start usually @ 8.45% 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

Also Check: Home Loan Interest Rates 2023

Eligibility Criteria of Home Loans in Kolkata

• The home loan applicant should be an NRI, Indian Resident or PIO. Some lenders also offer special home loan scheme to NRI/PIO applicants, branded as NRI Home Loan.
• 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

Also Check Home Loan EMI Calculator