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Home Loan Starting @ 6.70 Onwards
Whether you’re looking to purchase, construct, or renovate a home, You can get finance easily, with simple eligibility terms and a minimal requirement for documentation.
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Home Loans
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lac) Maximum Tenure (Month)
9.00% – 12.50%
upto 1%
1000
360
7.75% - 8.55%
Up to 1%
1000
240
8.75% - 11.75%
1%
1000
240
6.85% - 7.85%
0.25% to 0.50%
1000
360
6.85% - 7.75%
0.25%
1500
360
7.05% - 8.45%
0.25%
1500
240
6.90% - 8.90%
0.50%
1000
360
6.85% - 7.10%
1%
1000
360
7.50% - 8.25%
Rs.10,000
1000
360
8.25% - 9.40%
1%
1000
360
9.50%
Rs 2500
1000
240
7.30% - 7.80%
upto Rs.10,000
1000
240
8.15% - 8.30%
0.5%
1500
360
6.95% - 8.20%
Up to 0.50%
1000
360
7.95% - 8.05%
Rs.10,000
1000
360
6.95% - 8.05%
0.50% to 1%
1000
240
7.80% - 8.80%
0.50%
1000
360
8.00% – 14.00%
Rs.10,000
1000
240
8.70%
1.25%
1000
360
8.99%
max. 1%
1000
360
7.45% - 7.70%
0.50%
1000
360
7.45% - 7.70%
0.50%
1000
360
7.70% - 8.00%
2% - 3%
1500
360
8.35% - 9.18%
0.50% to 2.00%
1000
360
8.20% - 10.05%
Rs.2,500 - Rs.7,500
1500
360
7.40% - 9.70%
up to Rs.10,000
1000
360
6.90%
Rs. 10,000- Rs.15,000
1000
240
8.85% - 9.85%
Up to 0.25%
1000
360
6.90% - 7.25%
Up to 0.50%
1000
240
7.00% - 7.60%
0.35%
1000
360
7.70% - 8.95%
0.50%
1000
360
8.86% - 9.19%
Upto 1.00%
1500
360
6.95% - 7.50%
Rs.2,000 – Rs.10,000
1000
360
8.65%
2%
1000
240
8.50%
2%
1000
240
7.85% - 8.10%
0.50%
1000
240
6.70% - 7.15%
Up to 0.50%
1000
360
8.00% - 8.15%
Rs.1000
1000
240
9.35% - 10.50%
Up to 2%
1000
240
Bank Name Key Features
Interest rate

9.00% – 12.50%

Max loan amount

1000

Interest rate

7.75% - 8.55%

Max loan amount

1000

Interest rate

8.75% - 11.75%

Max loan amount

1000

Interest rate

6.85% - 7.85%

Max loan amount

1000

Interest rate

6.85% - 7.75%

Max loan amount

1500

Interest rate

7.05% - 8.45%

Max loan amount

1500

Interest rate

6.90% - 8.90%

Max loan amount

1000

Interest rate

6.85% - 7.10%

Max loan amount

1000

Interest rate

7.50% - 8.25%

Max loan amount

1000

Interest rate

8.25% - 9.40%

Max loan amount

1000

Interest rate

9.50%

Max loan amount

1000

Interest rate

7.30% - 7.80%

Max loan amount

1000

Interest rate

8.15% - 8.30%

Max loan amount

1500

Interest rate

6.95% - 8.20%

Max loan amount

1000

Interest rate

7.95% - 8.05%

Max loan amount

1000

Interest rate

6.95% - 8.05%

Max loan amount

1000

Interest rate

7.80% - 8.80%

Max loan amount

1000

Interest rate

8.00% – 14.00%

Max loan amount

1000

Interest rate

8.70%

Max loan amount

1000

Interest rate

8.99%

Max loan amount

1000

Interest rate

7.45% - 7.70%

Max loan amount

1000

Interest rate

7.45% - 7.70%

Max loan amount

1000

Interest rate

7.70% - 8.00%

Max loan amount

1500

Interest rate

8.35% - 9.18%

Max loan amount

1000

Interest rate

8.20% - 10.05%

Max loan amount

1500

Interest rate

7.40% - 9.70%

Max loan amount

1000

Interest rate

6.90%

Max loan amount

1000

Interest rate

8.85% - 9.85%

Max loan amount

1000

Interest rate

6.90% - 7.25%

Max loan amount

1000

Interest rate

7.00% - 7.60%

Max loan amount

1000

Interest rate

7.70% - 8.95%

Max loan amount

1000

Interest rate

8.86% - 9.19%

Max loan amount

1500

Interest rate

6.95% - 7.50%

Max loan amount

1000

Interest rate

8.65%

Max loan amount

1000

Interest rate

8.50%

Max loan amount

1000

Interest rate

7.85% - 8.10%

Max loan amount

1000

Interest rate

6.70% - 7.15%

Max loan amount

1000

Interest rate

8.00% - 8.15%

Max loan amount

1000

Interest rate

9.35% - 10.50%

Max loan amount

1000

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Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

Q. What is a Home Loan?

Home Loan is a loan disbursed by a bank or financial institution (lender) to an individual specifically for buying a residential property. Here, the lender holds the title of property until the loan is paid back in full along with interest.

Q. What is the tenure of a Home Loan?

Home Loans are borrowing instruments with a minimum tenure of 5 years and a maximum tenure of 30 years. The tenure offered to you for your personal loan depends on the loan amount that is sanctioned to you by the lender along with other factors.

Q. What are the Eligibility Criteria for a Home Loan?

Anyone — whether self employed or salaried individuals/professionals — with a regular source of income can apply for Home Loans. One must be at least 21 years old when the loan period begins and should not exceed an age of 65 years when the loan ends or at the time of superannuation. 

Q. Why should I apply for a Home Loan on Financeseva?

When you log on to the Home Loan section of Financeseva, you can apply for a Home Loan in minutes by following a few key steps:

  • Find out the various lenders who would be interested in providing you with a Home Loan based on loan amount, income level and related criteria provided by you.
  • Compare the Home Loan offers based on factors such as interest rates, processing fees and other relevant factors.
  • Just choose and click to apply
Q. What do banks consider when granting a Home Loan?

Once repayment capacity determines your eligibility to apply for Home Loan, lenders consider the following factors:

  • Income level of the applicant
  • Age  of the applicant
  • Qualification (stability and occupation continuity)
  • Resident status (maximum limit for an Indian resident differs from that of a non-resident)
  • Spouse’s income (household income is taken into account when there is a co-applicant)
  • No. of dependants (it is a measure of repayment capacity)
  • Credit list
Q. Can I apply for a joint loan with my friend?

No. A lender would only allow you to apply for a joint Home Loan if the application is co-signed by one or more members of your immediate family. Thus, your friend does not qualify.

Q. Who can be joint borrowers in case of a Home Loan?

Immediate family members such as your parents, spouse and children are allowed to be joint borrowers in case of a Home Loan.

Q. What is the maximum number of joint borrowers for a Home Loan?

The maximum number of joint borrowers in case of a Home Loan is fixed at 6. However, only family members such as parents, siblings and spouse can be co-borrowers for a Home Loan in India. Additionally, having a co-borrower who has a robust credit history and good credit score is preferable as compared to one with a low credit score.

Q. What is floating rate Home Loan?

If the interest rate on the loan varies periodically over the loan tenure, then it is called a floating rate Home Loan. Lenders have their own base rate which determines the rate of interest charged on a Home Loan. The base rates of banks are revised from time to time based on RBI directives as well as other factors, which leads to an increase or decrease in the EMI amount payable.

Q. What is a fixed rate Home Loan?

Fixed rate Home Loans are offered at a predetermined interest rate during the loan period and these remain unchanged during the loan period irrespective of market conditions. This can be a huge benefit when market volatility starts affecting interest rates. For instance, if the RBI increases interest rates on loans, then people with fixed rate Home Loan will not be affected by any increase or decrease in the market interest rates and the EMI amount will remain unchanged. This type of Home Loan is less popular these days. 

Q. Can I switch from a floating rate Home Loan to a fixed rate?

Yes. A few lenders do offer you the option of switching from a floating rate to a fixed rate Home Loan and the other way around. However, this is not applicable to all Home Loans and there are a few charges involved in implementing this conversion. Get in touch with your lender to get details regarding the procedure and requirements.

Q. How do I repay my Home Loan?

There are different ways to pay off your loan such as issuing post-dated cheques for the tenure of the Home Loan, getting the amount deducted automatically from your salary or by issuing standard instructions to the lender for ECS (Electronic Clearing System) wherein the EMI is automatically deducted from your bank every month. 

Q. Should I apply for a Home Loan with a public or private bank?

It is best to compare the various interest rates that would be applicable to you. When you apply for a Home Loan through financeseva, you get the opportunity to apply for a Home Loan through both private and public-sector banks. Also take into account, the fact that banks charge various processing and other related fees when you apply for a Home Loan and you should also consider these, when applying for a Home Loan.

Q. Is prepayment of Home Loan allowed?

Yes, one can repay the loan amount before completion of the scheduled loan tenure by making a lump sum payment towards paying off the loan. In such cases, the bank may decide to apply some penalties in the range 2-3% of the principal amount outstanding. Some banks and NBFC (non-banking financial companies) do not charge any penalty on making prepayment of a Home Loan.

Q. What are the key charges associated with a Home Loan process?
  • Processing Fee- When applying for a loan, a fee is paid to the lender known as processing fee. The amount paid could be either a percentage of the loan amount or a fixed amount that is paid in lieu of carrying out the loan sanction formalities.
  • Commitment Fee- It is essential to avail the loan within a stipulated time period after it is processed and sanctioned otherwise some financial institutions levy a commitment fee. By paying the commitment fee, you are assured that you can access the loan at the interest rate. 
Q. What documents do I need to submit with my Home Loan application?

The documents that need to be submitted may vary from one lender to the other. Some of the necessary documents to be submitted include the following-

  • Completed loan application form
  • Passport size photographs
  • Identity proof – PAN card/Passport/ DL/ Voters ID
  • Residence proof- telephone or electricity bill/ passport/ voter ID / property tax receipt
  • Bank statement for at least past 6 months and salary certificates/ latest acknowledged ITR
  • Copy of approved plan 
Q. Is there any tax benefit available on Home Loan?

The tax benefit on Home Loan is divided into two sections-

  • Tax exemption on repayment of the Home Loan principal: This is the deduction allowed under Tax Section 80C with a maximum annual tax deduction of Rs, 150,000 under the section.
  • Tax benefit on the interest rate for Home Loan - Under Section 24 of the Income Tax Act, you can avail the tax benefit on the amount of interest paid on a Home Loan to the maximum limit of Rs. 2 lakhs. 
Q. What is a top up loan?

If you have an existing Home Loan and have made timely repayments towards the existing Home Loan, you may get the option of borrowing an additional loan equal to the amount you have paid off on your current Home Loan. This is termed as a top up loan. The interest rates on a top up loan are less than a personal loan and it requires little or no paperwork to process this loan and the money can be used for a range of expenses.

Q. I have low credit score. Can I still apply for a Home Loan?

In case you have a poor credit score, you will find it difficult to get a Home Loan. However, you can improve your chances by getting a co-borrower. The co-borrower needs to be a family member like your spouse or parents. Ideally, you should choose a co-borrower who has a regular source of income and good credit history to bolter your chances of a successful application.

Q.What are the different types of Home Loan?

There are various types of Home Loans depending upon your specific requirement. Some of the key ones are as follows:

  • Land purchase loan
  • Home purchase loan
  • Home construction loan
  • Home Expansion/Extension loan
  • Home Improvement loan
  • Home conversion loan 
  • NRI Home Loan 
Popular Home Loan Lenders

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