It is crucial to select the appropriate lender in India to ensure the approval of a home loan. The decision at hand has the potential to substantially impact interest rates, repayment terms, and the overall experience for our customers. Given the many banks and financial institutions providing a diverse array of home loan products, it can be daunting to navigate the numerous options available. This guide offers a comprehensive overview of the top 11 home loan providers in India. The text provides extensive information about their notable features, interest rates, and customer benefits, enabling you to make an informed decision.
State Bank of India (SBI)
SBI Home Loan Interest Rates 2024 in India
- Starting from 8.25% p.a. for women applicants
- Starting from 8.70% p.a. for general applicants
- Loan tenure up to 30 years
- Loan amounts up to 90% of property value
SBI Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Low processing charges
- Dedicated customer support
SBI Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 15,000 per month
- Credit score: 650-700
SBI Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
SBI Home Loan EMI Calculator
- Calculate your monthly EMI with SBI’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
SBI Home Loan Latest News and Updates
- SBI announces increase in MCLR rates starting July 15, 2024
- SBI provides the convenience of online loans against mutual funds through their online banking platform and the YONO app.
HDFC Bank
HDFC Home Loan Interest Rates 2024 in India
- Starting from 8.75% p.a. for women applicants
- Loan tenure up to 30 years
- Loan amounts up to 90% of property value
HDFC Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
HDFC Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 15,000 per month
- Credit score: 650-700
HDFC Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
HDFC Home Loan EMI Calculator
- Calculate your monthly EMI with HDFC’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
Types of HDFC Home Loans
- Home Loan: For the purchase of a new home
- Balance Transfer Loan: Transfer your existing home loan to HDFC
- House Renovation Loan: For home renovation and extension
- Plot Purchase Loan: For the purchase of a plot
- Pre-Approved Loan: In-principal approval for a loan
How to Apply for HDFC Home Loan
- Online application through the HDFC website
- Visit the nearest HDFC Bank branch
- Call HDFC customer care
Axis Bank
Axis Bank Home Loan Interest Rates 2024 in India
- Starting from 8.75% p.a. onwards
- Loan tenure up to 30 years
- Loan amounts up to ₹5 crores
Axis Bank Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
Axis Bank Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian’
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 15,000 per month
- Credit score: 650-700
Axis Bank Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property document statements
Axis Bank Home Loan EMI Calculator
- Calculate your monthly EMI with Axis Bank’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
Types of Axis Bank Home Loans
- Home Loan: For the purchase of a new home
- Balance Transfer Loan: Transfer your existing home loan to Axis Bank
- House Renovation Loan: For home renovation and extension
- Plot Purchase Loan: For the purchase of a plot
- Pre-Approved Loan: In-principal approval for a loan
How to Apply for Axis Bank Home Loan
- Online application through Axis Bank website
- Visit the nearest Axis Bank branch
- Call Axis Bank customer care
ICICI Bank
ICICI Bank Home Loan Interest Rates 2024 in India
- Starting from 8.75% p.a. onwards
- Loan tenure up to 30 years
- Loan amounts up to ₹5 crores
ICICI Bank Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
ICICI Bank Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 15,000 per month
- Credit score: 650-700
ICICI Bank Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
ICICI Bank Home Loan EMI Calculator
- Calculate your monthly EMI with ICICI Bank’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
Types of ICICI Bank Home Loans
- Home Loan: For the purchase of a new home
- Balance Transfer Loan: Transfer your existing home loan to ICICI Bank
- House Renovation Loan: For home renovation and extension
- Plot Purchase Loan: For the purchase of a plot
- Pre-Approved Loan: In-principal approval for a loan
How to Apply for ICICI Bank Home Loan
- Online application through the ICICI Bank website
- Visit the nearest ICICI Bank branch
- Call ICICI Bank customer care
Bank of Baroda
Bank of Baroda Home Loan Interest Rates 2024 in India
- Starting from 8.40% p.a. onwards
- Loan tenure up to 30 years
- Loan amounts up to ₹20 crores
Bank of Baroda Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
Bank of Baroda Home Loan Eligibility Criteria
- Age: 21-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 8 lakhs per annum
- Credit score: 650-700
Bank of Baroda Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
Bank of Baroda Home Loan EMI Calculator
- Calculate your monthly EMI with Bank of Baroda’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
Types of Bank of Baroda Home Loans
- Baroda Home Loan: For buying plots, houses, and flats, constructing houses, and expanding current homes
- Balance Transfer Loan: Transfer existing home loans from other banks and finance companies
- Overdraft Facility: Link home loan account with savings bank account
- Home Renovation Loan: For repairing and renovating existing homes
- Top-Up Loan: Additional loan facility for existing home loan borrowers
- Pradhan Mantri Awas Yojana (PMAY): Subsidy scheme for economically weaker sections
How to Apply for Bank of Baroda Home Loan
- Online application through the Bank of Baroda website
- Visit the nearest Bank of Baroda branch
- Call Bank of Baroda customer care
Punjab National Bank
Punjab National Bank is an ideal destination for all your housing needs. Get home loan service from PNB Bank at meagre interest rates.
Punjab National Bank Home Loan Interest Rates 2024 in India
- Starting at 8.5% APR for salaried and non-salaried individuals
- Loan tenure of up to 30 years
Punjab National Bank Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
- Home loan overdraft facility
- Special home loan products for:
- Defence personnel
- Government employees
- Gen-next salaried individuals working with IT concerns or Government/PSUs up to the age of 40 years
Punjab National Bank Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 8 lakhs per annum
- Credit score: 650-700
Punjab National Bank Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
Punjab National Bank Home Loan EMI Calculator
- Calculate your monthly EMI with PNB Housing’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
How to Apply for Punjab National Bank Home Loan
- Online application through the PNB Bank website
- Visit the nearest PNB Bank branch
- Call PNB Bank customer care
LIC Housing Finance Limited
LIC Housing Finance Limited offers competitive home loan interest rates starting from 8.50% p.a. and are available for up to 30 years.
LIC Housing Finance Limited Home Loan Interest Rates 2024 in India
- Starting at 8.50% APR for salaried and non-salaried individuals
- Loan tenure of up to 30 years
- Interest rates starting at:
- 8.50% per annum for home loans up to Rs 2 crore
- Interest rates vary based on CIBIL score and profession
- Up to 90% of property value
- Range: Rs. 1 lakh to Rs. 15 crore
LIC Housing Finance Limited Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
- Home loan overdraft facility
- Special home loan products for:
- Defence personnel
- Government employees
- Gen-next salaried individuals working with IT concerns or Government/PSUs up to the age of 40 years
LIC Housing Finance Limited Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 8 lakhs per annum
- Credit score: 650-700
LIC Housing Finance Limited Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
LIC Housing Finance Limited Home Loan EMI Calculator
- Calculate your monthly EMI with LIC’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
How to Apply for LIC Housing Finance Limited Home Loan
- Online application through the LIC website
- Visit the nearest LIC branch
- Call LIC customer care
LIC HFL
LIC HFL provides home loans with attractive interest rates starting at 8.50% for different durations.
LIC HFL Home Loan Interest Rates 2024 in India
- Starting at 8.50% APR for salaried and non-salaried individuals
- Loan tenure of up to 30 years
- Interest rates starting at:
- 8.50% per annum for home loans up to Rs 15 crore
- Interest rates vary based on CIBIL score and profession
LIC HFL Home Loan Features
- Attractive interest rates
- Long repayment tenure
- High loan amount
- Flexible repayment options
- Dedicated customer support
- Home loan overdraft facility
- Special home loan products for:
- Defence personnel
- Government employees
- Gen-next salaried individuals working with IT concerns or Government/PSUs up to the age of 40 years
LIC HFL Home Loan Eligibility Criteria
- Age: 18-70 years
- Nationality: Resident Indian
- Job Profile: Salaried or Self-Employed
- Minimum income: ₹ 8 lakhs per annum
- Credit score: 650-700
LIC HFL Home Loan Documents Required
- Identity proof
- Income proof
- Address proof
- Property documents
- Bank statements
LIC HFL Home Loan EMI Calculator
- Calculate your monthly EMI with LIC’s online EMI calculator
- Enter the loan amount, interest rate, and tenure to get your EMI amount
How to Apply for LIC HFL Home Loan
- Online application through the LIC website
- Visit the nearest LIC branch
- Call LIC customer care
Aditya Birla Housing Finance
ABHFL is a rapidly expanding company that provides various housing finance solutions—presenting important highlights about Aditya Birla Housing Finance in 2024.
- Home Loans: ABHFL offers attractive interest rates and quick and transparent processing.
- Loans Against Property: ABHFL also offers loans against property, allowing customers to unlock their property’s true potential.
- Construction Finance: ABHFL provides construction finance solutions for customers looking to build their dream homes.
- Home Renovation Loans: ABHFL provides home renovation loans to customers interested in renovating their homes.
- Plot Purchase Loans: ABHFL provides plot purchase loans for customers interested in buying a plot of land.
- Credit Rating: ABHFL has a long-term credit rating of AAA (Stable) by ICRA and India Ratings and a short-term credit rating of A1+ by ICRA and India Ratings.
- Assets Under Management: As of December 31, 2023, ABHFL manages over Rs. 16,538 Crore under management.
- Branches: ABHFL has expanded its footprint to 130 branches since December 31, 2023.
- Financial Reports: ABHFL has made their financial reports for the quarter and year ended March 31, 2024, accessible on their website.
- Board Meeting: The company’s board meeting was held on April 18, 2024, to discuss the financial results for the quarter and year ended March 31, 2024.
- Annual Report: ABHFL’s FY 2023-24 annual report is available on their website.
- Annual Return: The company’s FY 2023-24 annual return is also available on its website.
Citibank
Citibank home loans in 2024:
- Interest Rates: Citibank home loans have rates from 6.5% to 7.4% annually.
- Loan Amount: Home loans of up to Rs. 10 crores can be availed from Citibank.
- Repayment Tenure: The maximum repayment tenure for a Citibank home loan is 25 years.
- Property Value: Citibank offers up to 80% of the property value as a home loan.
- Eligibility Criteria: The eligibility criteria for a Citibank home loan include being an Indian citizen, having a good credit score, being at least 23 years old and having a steady income.
- Documents Required: Basic documents, such as proof of identity, address, and income, are required to apply for a Citibank home loan.
- Pre-Payment: Citibank allows pre-payment of the loan, and there may be applicable charges.
Bajaj Housing Finance
Here are some details about Bajaj Housing Finance’s home loan offerings in 2024:
Interest Rates: Bajaj Housing Finance offers home loans starting at 8.50% per annum for salaried individuals and 9.10% for self-employed individuals.
Loan Amount: Home loans of up to Rs. 5 crores can be availed from Bajaj Housing Finance.
Repayment Tenure: The maximum repayment tenure for a Bajaj Housing Finance home loan is 40 years.
Property Value: Bajaj Housing Finance offers a home loan for up to 80% of the property value.
Eligibility Criteria: The eligibility criteria for a Bajaj Housing Finance home loan include being an Indian citizen, having a good credit score, being at least 23 years old, and having a steady income.
Documents Required: You must submit primary papers, including identification, evidence of residence, and income, to apply for a house loan with Bajaj Housing Finance.
Pre-Payment: Bajaj Housing Finance allows pre-payment of the loan, and there may be applicable charges.
Tax Benefits: Bajaj Housing Finance’s home loans have attractive tax benefits. These benefits include deductions of up to Rs. 2,00,000 on interest repayment under Section 24(b) and exemptions of up to Rs. 1,50,000 on payments made towards principal repayment under Section 80C.
Other Benefits: Home loans from Bajaj Housing Finance also offer other benefits, including property appreciation and the potential for long-term wealth growth.
Conclusion
Ultimately, choosing the right home loan provider in India demands a thorough evaluation of several key factors, including interest rates, repayment options, processing fees, and customer support. Through carefully evaluating the offerings provided by top banks and financial institutions, you can discover a home loan that perfectly matches your financial objectives and dreams of owning a home. If you are a first-time homebuyer looking to refinance an existing loan, making the right choice can result in substantial savings and a more seamless loan experience.
