Why BankBazaar Home Loan?
  • Compare multiple bank offers
  • Apply Online for Lowest Rates
  • Get e-approval instantly
 Home Loan Ratings
3.5 / 5.0 by 1524 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

 Home Loan Reviews

"The overall experience with the Axis Bank when i applied for the Housing loan it was good, the support from the customer service executive was very positive and he helped me out in competing the whole process of the application. I got the loan amount sanction with in four to five days."

Samir Patel, Ahmedabad
More Reviews
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Get E-approved on Your Home Loan

Compare & Apply online at BankBazaar.com to get instant e-approval for your home loan from HDFC Ltd, Axis Bank & ICICI Bank.

Get Best Home Loan deals

BankBazaar.com has coordinated with Axis Bank, HDFC Ltd and ICICI Bank to get you the best deals on your home loan.

Types of Home Loans

Various types of home loans are available in India like home purchase loans, construction, extension, home improvement loans, conversion loans, bridge loans & land purchase loans.
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Rates & special offers displayed below are accurate & applicable ONLY for applications made on BankBazaar.com

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Home Loan Overview

Home Loan 3.5 / 5.0 by 1524 users  
Used this product? Write a review »
Thinking of buying your Dream Home? Compare and apply online at BankBazaar.com to get instant e-approval for Home Loans

Buying your dream home is an important milestone in your life and requires a lot of planning, thinking and money, but with a wide variety of housing loans available in India, financing your dream home project is just a click away. Check your Home Loan eligibility now by filling up the above form and get best housing loan offers instantly. Check your Eligibility Now!

Why Apply for a Home Loan on BankBazaar.com?
  • Lowest interest rates: We have coordinated with HDFC Ltd, Axis Bank, ICICI Bank & others to get you the best home loan interest rates. In fact, HDFC Ltd, Axis Bank & ICICI Bank use BankBazaar.com-powered technology to give their customers the best home loan experience on their websites, www.hdfcinstanthomeloans.com, https://loans.icicibank.com/home-loan.html and https://loans.axisbank.com/home-loan.html
  • Instant e-approval: On BankBazaar.com you can compare home loan offers, apply online and get instant e-approval for your home loans from HDFC Ltd, Axis Bank and ICICI Bank.
  • Simple Online Comparison: Compare home loan offers on the basis of loan eligibility, EMI, interest rate, fees and customer ratings.
  • Transparency: Aimed at helping you make the right choice, we provide objective and transparent information about your loan options.
  • Privacy: Your application is sent only to the lender you choose, and is never shared with anyone else.
How to get home loans on BankBazaar.com
  • Eligibility Calculator: Fill the form above to instantly get customized home loan quotes that you are eligible for.
  • Compare home loan offers: Compare customized home loans offers from HDFC Ltd, Axis Bank & ICICI based on your eligibility criteria and apply online for the one you like.
  • Your application will be sent electronically to the lender you chose. The lender will contact you within one day.
  • BankBazaar.com will update you on your loan application status via email & SMS alerts.

Home Loan FAQs

  1. What are the factors I need to keep in mind while comparing home loans from different financial institutions?
    A loan applicant needs to check on the following parameters when comparing home loans.
    • Purpose of loan i.e. purchase a already built home, purchase a plot & construct on it
    • Eligible loan amount, as this will govern the down payment you will have to make
    • EMI and interest rate
    • Processing fees
    • Pre-payment and pre-closure fees
    • Ratings of the customer experience by previous customers
  2. Can I take a home loan for Home improvement or home extension?
    Yes, Apart from Home purchase you can take home loan for Home Improvement Loan, Home Extension Loan, Home Conversion Loan, Bridge Loan, Home Construction Loan and Land Purchase Loan.

  3. Will there be any additional costs when I purchase a home?
    Registration charges, transfer charges and stamp duty costs are some of the costs in addition to the cost of the home.

  4. What are the other costs that usually accompany a home loan?
    Home loans are usually accompanied by the following extra costs:
    • Processing Charge/Booking fee: It is a fee paid to the lender, when you apply for a loan. It could either be a fixed amount (not linked to the loan quantum), or could be a percentage of the loan amount.
    • Pre-payment Penalty: If a loan is paid back before the end of the agreed duration, a penalty is charged by some banks/financial institutions, which could be up to 2% of the amount pre-paid (Some institutions also consider all partial payments done in the last 12 months, as part of the pre-paid amount). However, most lenders currently do not charge a pre-payment fee for floating rate loans.
    • Miscellaneous Costs: Some lenders may levy a documentation or consultant charge. This is also known as "Application fee", in some institutions.
    • Registration and Stamp Duty charges - These are to be paid at the local Sub-Registrar's Office (SRO), as Charges for transferring the rights of the property from the builder/seller, and registering it in the name of the buyer (the loan applicant).
  5. Can I have a co-applicant for a home loan?
    Yes, it is good to have a co-applicant. This can help you increase the loan amount you are eligible for as the income of the co-applicant is also taken into consideration. Providing additional security like bonds, fixed deposits and LIC policies will also help in enhancing eligibility.

  6. What is EMI? How is it calculated?
    An equated monthly Installment (EMI) is the amount of money that is paid back to the lender on a monthly basis. It is essentially made up of two parts, the principal amount and the interest on the principal amount equally divided across each month in the loan tenure. The EMI is always paid up to the bank or lender on a fixed date each month until the total amount due is paid up during the tenure.
    The EMI facility helps the borrower plan his budget. The EMI is calculated taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum.

  7. What is an amortization schedule?
    An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the breakup of every EMI towards repayment interest and outstanding principal of your loan.

  8. Can I avail a tax rebate on my home loan?
    Yes, under Section 80C and Section 24 tax deductions are capped at 1 lakh for the principal repaid and 1.5 lakhs for the interest repaid.

  9. What are the loan tenure options?
    You have the option of selecting a loan tenure you are comfortable with, ranging up to 25 years, provided the term does not extend beyond your reaching 65 years of age or retirement age, whichever is earlier.

  10. What is the repayment period for a NRI Home Loan?
    The housing finance offered to NRIs normally do not exceed 7 years. The repayment for the loan is by way of EMIs. The EMIs begin only after the entire loan is disbursed. In case of a part disbursement, you will pay only the interest amount on the disbursed loan amount every month instead of the EMI. This is known as pre-EMI.

  11. What are the Tax Benefits applicable to Non-Resident Indians?
    No tax benefits are available for NRI customers unless you file returns and hence become eligible to avail the tax rebates available for home loans.

  12. Does BankBazaar.com charge me for its services?
    No, BankBazaar.com’s services come to you free of charge.

  13. How will the security and privacy of my data be ensured?
    BankBazaar.com’s will never share your data with any third party other than the financial institution that you decide to apply to. Our sound technology practices ensure a highly secure environment for all your data.

  14. What happens once I submit my application on BankBazaar.com?
    As soon your application is electronically submitted on BankBazaar.com, we will transmit it securely to the financial institution of your choice. This financial institution will then contact you directly to take the process forward.
    BankBazaar.com’s will also keep you updated on the status of your application via email and SMS alerts. You can also view the status of your application online at BankBazaar.com.

Home Loan Eligibility & Documentation

Home Loan Eligibility:
Anyone with a repayment capability and a dream to buy a home is eligible to get a home loan. Some of the important eligibility criteria are as follows:

  • Salaried individual or Self employed individual or Self employed professional like doctor, lawyer, etc.
  • NRI or resident Indians
  • Aged between 21 years and 65 years
  • Have a good CIBIL credit score
  • Good repayment capacity with fixed & stable income source
  • Employment at a stable company
  • Try our home loan eligibility calculator to check how much loan amount you are eligible for.

How is your home loan eligibility determined?
Based on the following aspects financial institutes will determine your loan eligibility:

  • Your monthly income
  • Property cost (you can get 80% of the property value if the loan amount is less than 20 lakhs and 85% of the property value if the loan amount is more than 20 lakhs. )
  • Other EMI’s which you are paying for any other loan

Fill the form above to check your actual home loan amount eligibility.


Home Loan documentation: For a speedy Home Loan approval you will need genuine documents which will help banks to give quick approvals. Here is a standard list of options for each document required.
Identity proof:

  • Driving license
  • Voters ID
  • Passport
  • PAN card
  • Ration card
  • Employee ID
  • Bank passbook
  • Letter from a recognized public authority or public servant verifying your photograph
  • Confirmation letter from your employer or another bank verifying your photograph

Address Proof:

  • Driving license
  • Voters ID
  • Passport
  • Ration card
  • Bank passbook or Bank account statement
  • LIC policy/ receipt
  • Utility Bill – telephone, electricity, water, gas (less than 2 months old)
  • Letter from any recognized public authority verifying residence address of the customer
  • Letter from your employer

Age Proof:

  • Driving license
  • Passport
  • Bank passbook
  • PAN Card
  • Birth certificate
  • 10th standard mark sheet

Income Proof: The following set of documents that detail your credit profile varies according to whether you are a salaried individual or a self-employed individual.
Self Employed/Entrepreneurs:

  • A brief introduction of Business/Profession
  • Balance Sheet, profit and loss account statement of income, proof of income tax returns for the last 3 years certified by a CA
  • Photographs
  • Receipts of advance tax payments if any made
  • A photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act
  • Registration Certificate for deduction of Profession Tax
  • Certificate of Practice
  • Receipts of Bank loans
  • Proof of investments (FD Certificates, Shares, any other fixed asset)

Salaried Individuals:

  • Income Proof ( you just need to provide one of the options listed for income proof)
  • Latest Pay slip
  • Form 16
  • Increment/Promotion letters
  • Appointment letter
  • Pay slip (Last 2 months) with salary account bank statement
  • Certified letter from Employer
  • IT returns ( for three years )
  • Investment proof (FD certificates, shares, any fixed asset etc.)
  • Documents supporting the financial background of the borrower (his liability and assets if any)
  • Photographs

What are the documents required for obtaining NRI Home Loans?
NRIs are required to submit a few documents more than is required for a resident Indian:

  • A copy of the passport
  • A copy of the works contract (also sometimes referred to as the contract card/labor card)
  • The power of attorney (POA). The POA is required because the borrower is not based in India and in such a scenario; the HFC would need a representative ‘in lieu of’ the NRI to deal with as required. Although not compulsory, the POA is usually drawn on the NRI’s parents, wife or children

I am purchasing a flat from the builder, what supporting documents I will need to submit to the bank?

  • Original copy of your agreement with the builder
  • 7/12 extract – This is issued by the concerned land authorities giving details such as the survey numbers, area, date from which current owner is registered as owner etc.
  • Property register card, which is obtained from the City Survey Department
  • N.A. permission for the land from the collector, if its agricultural - If the land is agricultural and is being utilised for residential/ commercial/industrial use, then such agricultural land has to be converted to non-agricultural land and a Non-Agriculture Order has to be obtained from the Collector of the district where the property is located.
  • Search Report and Title Certificate – A search report and title certificate can be obtained from an advocate who will conduct a survey of the title of the property by visiting the office of registrar. A legal opinion can avoid any legal hassles later and is mandatory to be filed with the agreement for sale.
  • Development agreement between the owner of land and the builder
  • Copy of order under the Urban land Ceiling Act
  • Copy of building plans sanctioned by the competent authority
  • Commencement certificate granted by the Corporation
  • Building completion certificate
  • Latest receipts for taxes paid towards the land or property or flat to be purchased
  • Partnership deed or memorandum of association of the builders firm

I am purchasing the house from a Cooperative Society, what documents I will need to submit to get a home loan?

  • Original share certificate of the Society
  • Allotment letter from the Society in your name
  • Copy of the lease deed, if executed
  • Certificate of the registration of the society
  • Copy of the byelaw’s of the Society
  • No objection certificate from the Society
  • 7/12 extract or property register card in the Society’s name
  • Copy of N.A permission for the land from the collector
  • Search Report and Title Certificate
  • Copy of order under the Urban Land Ceiling Act
  • Copy of the building plans sanctioned by a competent authority
  • Commencement certificate granted by Corporation
  • The latest receipts of taxes paid for the property
  • Original Agreement to assign / Deed of assignment

What documents I will need, if I am constructing house on my own land?

  • Original sale deed of land and extract of Index II
  • 7/12 extract or property register card in your name
  • Copy of N.A. permission for land from the collector
  • Search and title report
  • Copy of tax paid under Urban Land Ceiling Act ( obtained from Commissionerate of Urban Land Ceiling and Urban Land Tax )
  • Copy of the building plans sanctioned by a competent authority
  • Building permission granted by the Corporation
  • The latest receipts of taxes paid for your land
  • Estimate of the cost of construction certified by the architect

What are the documents that need to submitted for disbursement of a home improvement loan?

  • Title deeds for the past of 13 years
  • Encumbrance certificate for the past 13 years ‘Khata’ certificate
  • Most recent tax receipts for the property
  • Approved plan
  • License for the extension
  • Cost estimate from a qualified engineer
  • Cost estimate from the architect

Home Loan Interest RatesUpdated on 23 August 2014

Details of Home Loan

Home Loan Interest Rate.(Monthly reducing balance)
10.5% to 14.25% floating. Check Customized Interest Rates Now!
Processing Fees
0.5% to 1% of loan amount
Home Loan Tenure
1 year to 20 years
Home Loan Amount Funded
Up to 85% of property value
Pre-payment Charges
0% to 2% of amount being prepaid
Pre-closure Charges
0% to 2% of amount being preclosed
Guarantor Requirement
No guarantor required

Home Loan Articles

  • How to calculate your loan eligibility!
    Most people who buy a home through a home loan are often left with little cash to carry out any further improvements in the house as per their requirements. Some opt for personal loans in order to make good this requirement.
  • Home loan document checklist for self employed!
    Every financial institution which deals in home loans has a specified set of requirements which are to be met by a borrower. When a borrower is found to be eligible for the loan, only then he is granted the amount applied for.
  • How to select your home loan lender?
    Getting a home loan approval can be a long and tiresome process especially if you are a self-employed professional or business owner. This is because many banks doubt business men for job continuity, as they are free to quit their jobs at any time. 

Home Loan Forum

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   Home Loan Reviews
77 % of our customers would recommend this bank. (1180 out of 1524) Write Review
Customer Reviews
Page 1 of 50 1 2 3 4 5
  • Validated User
    (0)

    The overall experience with the Axis Bank when i applied for the Housing loan it was good, the support from the customer service executive was very positive and he helped me out in competing the whole process of the application. I got the loan amount sanction with in four to five days.

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    took a Home Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a good experience going through Bankbazaar. The executive provided a good response which was clear and accurate. The website contained all the information and i got time to time instant calls and continuous follow up was there. Overall good.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Satisfied
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    PRATHAMESH GANDHALE ASHOK GANDHALE, mumbai
    Recommend Recommended by user
    Validated User
    (0)

    I am quite satisfied with the services delivered from the customer support and the site of Bankbazaar. I dropped the plan of buying flat as of now but later would apply through Bankbazaar and get the loan. The information portrayed was clear and informative in the site.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Five years ago I have availed a home loan from SBI. There was no proper response from bank executives and I had to do everything on my own. We approached SBI for a home loan considering my mother's salary account relationship with them. After I submitted all the documents to the nearest branch my loan was disbursed within a moth. It was not that good experience because they should definitely improve the customer service. Only best part is the rate of interest was very low around 10.1% but still they collect some extra money every year.

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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had directly contacted HDFC LTD for a home loan because the builders have a tie up with them. It was a good experience and everything was made ready for a disbursement. Only thing is the property is yet to be alloted and I still didn't get my agreement. They initially said the rate of interest was 10.1% and they later increased upto 10.15% but still I am OK with the rate.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Nearly 2 years I am having this HOME LOAN with HDFC LIMITED whereas their customer service was good. They are providing all the relevant informations to me properly and SMS alert also sending immediately before the due date . Interest rate was nominal according to me and moreover it was floating too for 10.75%. No suggestions for them

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Couple of years ago I have availed a home loan from India bulls and my experience was not that good. Customer service was very good. Rate of interest was around 10.75% and the processing fee was quite similar to the market rate. I was very disappointed on trusting India bulls because they gave me a false information that the property was under construction and urged me to avail the loan.

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    took a Home Loan from INDIABULLS on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had a great experience of applying for a home loan with HDFC LTD. Actually I was demanding for a high loan amount which they were unable to offer me and therefore I dropped the plan of availing the loan. Rest everything was fine with HDFC LTD and I have no issue. I think the rate of interest could have been better.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I recently had an experience of applying for a home loan with HDFC LTD. Unfortunately my loan application was closed because they were offering the loan only for the plot which was already built but they are not ready to offer the loan for an empty land that I have selected. HDFC LTD offered me a little bit high rate of interest of 11.5%.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had a great experience of applying for a home loan with HDFC LTD. Unfortunately I had changed my opinion not to avail the loan due to some personal issues. HDFC LTD Follow up and everything was very good. I verified the information given to me over the phone with their website and I found everything was appropriate & accurate.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had recently applied for a home loan with HDFC LTD. It didn't work out properly because the property was purchased by some other person. Otherwise my overall experience was very good. HDFC LTD support was excellent and the executives followed up very well. Customer service was superb. Both rate of interest and the processing fee was nominal as per the market standard.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have recently met an executive from HDFC LTD regarding my home loan and submitted all the required documents to him. I am currently searching for the right property and I think it would take some time however I have made everything ready with HDFC LTD. They are waiting for my confirmation and they are always ready to disburse the loan.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 50 1 2 3 4 5

Interest Rates