Compare All Banks Home Loan Interest Rates February 2023
Looking For Best Housing Loan? Compare Home Loan Interest Rates ☛ SBI ☛ ICICI ☛ PNB ☛ HDFC ltd ☛ Bank of Baroda ☛ Axis Bank ☛ LIC Housing ✍ Apply Online ✍ Doorstep Service ☛ Instant 10 Min Approval ☛ Special Offers for the current month.
✓ Home loan offers starts @ 8.80% – 10.15% from SBI, ICICI Bank, HDFC Ltd, PNB, Citibank, Axis bank.
✓ Latest Interest rates of all major banks of India
✓ Home loan amount up to Rs. 50 crores
✓ Attractive offers for Salaried, Self – employed & women’s from all major banks
Quick Apply For Home Loan
Applying for a Home Loan? Five Things to Know
Here are some things to remember before applying for a home loan:
- Let the CIBIL score negotiate.
- Resolve pending credit issues with credit cards.
- Check your own pocket before apply, remember that every rupee borrowed comes with an interest charge.
- Carefully decide your loan tenure.
- Compare all available banks to save more on processing fees, hidden charges etc.
Home Loan Interest Rates of all banks 2023
Compare and choose the best Home Loan Interest Rates Offered by Different Lenders in India.
|Bank Name||Interest Rates||Processing Fee|
|State Bank of India||8.85 – 9.65%||Nil till 31.03.2023|
|HDFC Ltd||8.60 – 9.40%||Rs. 5000 + Taxes|
|ICICI Bank||9.00 – 9.70%||Rs. 2999 + Taxes|
|LIC Housing||8.60 – 9.00%||NA|
|PNB Housing||8.75 – 10.35%||N.A|
|Bank of Baroda||8.60 – 9.80%||0.50% of Loan amount- Minimum: Rs.8,500/- (Upfront), Maximum: Rs.15,000/-|
|Punjab National Bank||8.55 – 9.20%||0.35% of the loan amount, Minimum- Rs. 2,500/-, Maximum- Rs. 15,000/|
|Axis Bank||8.60 – 9.25%||Up to 1% of loan amount subject to minimum of Rs. 10,000.|
|Canara Bank||8.50 – 9.25%||0.50% (Min Rs.1500/- and Max. Rs.10,000/-)|
|Bajaj Finserv||8.55% onwards||Up to 0.80% (for salaried individuals). Up to 1.20% (for self-employed individuals)|
|Kotak Bank||8.65% – 9.30%||Up to Rs 10000/-|
|Tata Capital||9.25% onwards||0.5% of the loan amount onwards + GST|
|Union Bank of India||8.55 – 8.90%||0.59%, Minimum Rs.1180/-; Maximum Rs.11800/-|
|Allahabad Bank||8.50 – 9.15%||N.A|
|UCO Bank||8.65 – 9.90%||0.5% of the loan amount, minimum Rs.1500/- & maximum Rs. 15000/-.|
|HSBC Bank||8.55 – 8.75%||1% of the loan amount sanctioned or ₹10,000, whichever is higher plus applicable taxes|
|Karnataka Bank||8.74 – 9.81%||N.A|
About Home Loan – Home or housing loan is advances made to borrowers who require funds to purchase houses / flats / land / construction / extension / Villa and renovation of houses. Check Home Interest Rates, Processing fees, pre-payment charges, inspection fees, documentation fees etc. Co- applicants/ Joint Applications are allowed. Borrowers are Qualify for tax benefits as per provisions of the IT Act, 1961 (subject to changes).
Home Loan Highlights
|Interest Rates||78.50% – 10.20%|
|Age Limit||21 – 65 Years|
|Min. Loan Amount||Rs.1 lakh|
|Max. loan amount||Up to 90% of property value|
|How to Apply||Apply Online Here|
|Processing fees||Nil to 1.50%|
|Balance Transfer option||Yes|
|Documents Required||KYC, ITR, Form 16, P & L A/c|
Example – Here is the examples of home loan EMI at interest rate of 8.20% p.a, at various tenures and loan amount are given below –
|Loan Amount||5 yrs||10 yrs||15 yrs||20 yrs||25 yrs||30 yrs|
Home Loan FAQs
Q1. What is a Home Loan?
Q2. Who can apply for home loan?
Q3. How can i apply for home loan?
Q4. What is home loan EMI?
Q6. What is the repayment period of a home loan?
Q7. What is the Eligibility Criteria for a Home Loan?
Q8. Why should I apply for a home loan on emicalculator-india?
Compare home loan interest rates, loan amount, processing fees, eligibility, income level etc.
Know latest home loan offers based on loan amount and eligibility.
Home Loan EMI calculator tool is available for calculating monthly emi based on loan amount and rate of interest and tenure.
Just you need to enter name, contact number, email, location, salaried or self employed and click on button.
Q9. How much home loan amount do I avail?
Q10. What is Pre-EMI interest mean?
Q11. Tax benefit on home loan?
Q12. Required security for home loan?
Q13. What is Power of Attorney?
General Power of Attorney – where a property owner confers ‘general’ rights. The rights include but are not limited to sell, lease, sub-lease etc.
Special Power of Attorney – wherein only a specific right is given by the owner to the chosen person.
Q14. Required documents at the time of possession?
- Original copies of the chain of title agreements and Building Plan approvals
- Original registration and stamp duty receipts
- Possession Letter
- Original share certificate (In case of societies)
- Proof of payment of all dues like maintenance charges, electricity bills, phone, water and property taxes up to the date of handing possession
- NOC from the Society or any other concerned body confirming that there is no objection to the transfer
Q15. Home loan for NRI?
Q16. Tax benefit for NRI?
Q17. Eligibility criteria for NRI?
Individual (s) over 18 years of age with a steady source of income who
- are Non Resident Indians (NRIs) holding a valid Indian passport
- are persons of Indian Origin (PIOs) holding a foreign passport
NRI home loan eligible criteria-
- NRIs, must have total work experience of 2 years in India or abroad.
- NRIs with a job contract for a minimum period of 2 years abroad after completion of 6 months in the employment and presently holding a valid job contract /work permit.
- Indian citizens working abroad on assignments with foreign Governments/ government agencies or International/Regional Agencies like the UNO, IMF, World Bank, working with Merchant Navy etc., Officials of the Central and State Governments and Public Sector Undertakings deputed abroad on temporary assignments or posted to their offices (including Indian Diplomatic Missions) abroad
Q18. Types of home loan?
The banks usually offer the following types of loans on interest:
- Home Purchase Loan: For purchasing a new residential property or an old house from its previous owner.
- Home Improvement Loan: For executing repair and renovation work at home.
- Home Construction Loan: Loan is available for construct a house on a piece of land you have already purchased.
- Home Extension Loan: For expanding or extending an existing house. To cite a few examples, addition of an extra room, a floor etc.
- Land Purchase Loan: For the purchase of a plot of land for both residential or investment purposes.
- Home Conversion Loans: If you have already purchased a house by taking a home loan but would now want to buy and move to another house.
- Balance Transfer Loan: These loans are availed to transfer one’s home loan from one bank to another.
- NRI Home loans: These are specialized loans, structured to suit the requirements of NRI’s who wish to build or buy a home in India.
- Loan against Property (LAP): These loans are given or disbursed against the mortgage of a property.
Q19. Who can be joint borrowers in case of a home loan?
Q20. What is floating rate home loan?
Q21. What is a fixed rate home loan?
Q22. How do I repay my home loan?
Q23. How do NRI repay home loan?
Q23. Down payment for home loan?
Q24. What documents do I need to submit at time of application?
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 plan approved for the proposed construction/extension
Cost estimation/ valuation report from Bank’s (or finance company) authorised surveyor/evaluator.
Allotment letter of housing board/ NOC of the society/Builder etc. as well as any other land use certificate/other
Q25. What is a top up loan?
Q26. What is the margin on a home loan?
Q27. Home loan interest rate for women?
Q28. What is an amortization schedule?
Q29. What is Home loan pre-approval?
Q30. Which are the top home loan providers in India?
- SBI Home Loan
- HDFC Ltd Home Loan
- ICICI Home Loan
- LIC Home Loan
- Axis Bank Home Loan
- Bank of Baroda Home Loan