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User reviews
  • The services of HDFC limited was very good when I applied for a home loan with them. As I am an account holder of HDFC bank since 2005 I got a very good response from HDFC limited as well. There were no issues in terms of their services. I would say that the I have faith in the services of HDFC as I have never faced any hassele in any terms.
    06:17 PM - Nov 21, 2014

    , ahmedabad
    0.5 4.0/5 "Great!"
  • It was just a single visit I had with the relationship officer of HDFC limited regarding the policies, documentation part discussion. I was not satisfied with their valuation provided for my property which was too lesser than my requirements. However, the rates and charges are quite reasonable.
    12:33 PM - Nov 21, 2014

    , nagpur
    0.5 4.0/5 "Great!"
  • I was asked for DTCA approved property documents which was so different from others and that was the reason I was unable to get home loan from HDFC limited. Other than this issue, I did get proper response, overall communication was pretty good.
    11:34 AM - Nov 21, 2014

    , delhi
    0.5 4.0/5 "Great!"
  • I thought of getting the home loan from HDFC limited however as the property is not been approved by them, I didnâ??t get it. Even arranged money from other sources, hence not in a idea of availing home loan. The approach by customer relationship officer was too nice and rates and charges was quite ok.
    06:09 PM - Nov 21, 2014

    , coimbatore
    0.5 3.0/5 "Satisfactory"
  • When I was in search of home loan, I had applied with LIC housing Finance as well where the response was too slow. The issue was the documentation part where I was asked for IT return and form-16 for 5 years, however I did have IT return for 5 years and form-16 for 3 years alone. This was the main reason I didnâ??t continue further.
    12:32 PM - Nov 21, 2014

    , nagpur
    0.5 3.0/5 "Satisfactory"
  • The home loan disbursal was so easier as the documentation process was simple and I was able to submit all documents whatever State bank of India customer service executive had requested for. The processing was so faster where within 12-15 days, got the loan. Overall happy with them.
    11:33 AM - Nov 21, 2014

    , delhi
    0.5 3.5/5 "Pretty good"
  • I was not able to avail home loan from HDFC limited since my property is in village location. One of the negative point is it took long time to evaluate the reason of rejection which I dislike. However, it would be better if they could improvise them, it would be fine.
    06:04 PM - Nov 21, 2014

    , nagpur
    0.5 2.0/5 "Expected more"
  • My personal experience form DHFL was good. The local branch executive Mr.Santosh was too helpful and within a short time, entire processing was done and even the disbursement too. The charges are quite the same like others. More over, there was a scheme for rural areas where for the minorities and for women borrowers, the rate of interest is 9.6% fixed for 7 years and later on its floating. Its the best offer at the current market trend. One thing the processing charges can be bit lower as it is 1% of the loan amount.
    12:31 PM - Nov 21, 2014

    , nagpur
    0.5 4.5/5 "Excellent!"
  • There is no limit for part payment in Bank of Maharashtra. I availed home loan for limit of 24lakhs and there is no installment limit so I can part pay the amount at any time. Bank paid the loan amount directly to builders. Everything was good but it would be great if they improve on customer service. I paid some amount already and yet to pay rest of the amount.
    10:50 AM - Nov 21, 2014

    , new delhi
    0.5 3.0/5 "Satisfactory"
  • I had no issues with LIC housing finance while I was taking a home loan in the year 2013. LIC is very good in processing home loans and the customer service was good. They offered me a fixed interest rate of 10.9% for the next 10 years. This option is not available with other banks & financial institutions. They processed my loan within 15 days of time.
    03:55 PM - Nov 21, 2014

    , hyderabad
    0.5 4.5/5 "Excellent!"
  • When I availed a home loan from HSBC the response was very fantastic. There were no issues in terms of their services and the rate of interest which was 10.15% when I applied. But now it has been reduced to 9.9% which is appreciable. Their processing was also very fast and they disbursed the loan within the stipulated time.
    12:21 PM - Nov 21, 2014

    , mumbai
    0.5 5.0/5 "Blown Away!"
  • One of the person from LIC housing finance had called from Jaipur branch where I was able to get the home loan offer. The particular customer service executive did explained the details in a very well way and the rate of interest was quite affordable. Even pre closure option is quite good.
    10:47 AM - Nov 21, 2014

    , jaipur
    0.5 4.0/5 "Great!"
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BankBazaar Home Loan is Rated as " Great!" by 2347 Users
 4.0 / 5.0   by 2347 users
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Customer Service

Responsiveness

Home Loan BYTES FROM OUR KITCHEN

You're eligible for a Home Loan if you:

01
02
03
04
That's 21 years old, same time that everything besides milk becomes legal too

Are legally adult enough to handle it

Less than 65 years of age, because sanguine golden years are for playing golf

Have still got it

Salaried or self-employed - whatever puts food on your table

Get a regular pay check

There's a minimum amount for that regular pay check

Make more than a basic buck


Your eligibility depends on

01
02
03
So you'll have enough for life's other goodies

EMI limited to about 50%
of monthly income

So you have something to call your very own from the get go

Loan capped @ 75% - 85% on property value

So you don't bite off more than you can chew. Trust us, it's less painful this way

EMIs of other loans lower
your eligibility


Boost your eligibility by

01
02
03
Her income will bolster your eligibility and make good on your wedding vows of sharing, caring and avoiding doing the dishes.

Making your spouse a co-applicant

We've all learned that haste makes waste

Choose longer tenure loans of up to 20 - 30 years

They will always remain older, wiser and more credible than their offspring.

Alternatively add your parents as co-applicants


Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Processing fee cheque
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Home Loan Interest RatesUpdated on 22 Nov 2014

Home Loan Details
Interest Rate (Monthly reducing balance) 10% - 10.5%
Processing Fees 0.5% of Loan
Loan Tenure 1 year to 20-30 years
Partial pre-payment Charges Nil
Pre-closure Chargest Nil

Wondering What a Home Loan is? – An Overview:

Home or housing loans are advances made to borrowers who require funds to purchase houses/flats/land. They can also be availed of for construction, extension and renovation of houses. Lenders can be banking or non-banking financial institutions.

Features of Home Loan:

The salient features are outlined below:
  • They are secured advances.
  • Collateral is usually the property that is being funded. Existing property can also be put up as security.
  • Interest rates are flexible being either Fixed, Floating or a combination of fixed and floating.
  • Home loan interest rates are lower when compared to unsecured personal advances.
  • The advance can be used to fund property for residential or investment purposes.
  • Amounts offered are higher than under other types of loans; up to 85% of the property value.
  • Repayments are made in EMIs (Equated Monthly Instalments).
  • Pre-payments are allowed, to reduce liability.
  • They are long-term in nature; tenors usually vary between 5 - 30 years
  • Non-interest charges include processing fees, pre-payment charges, inspection fees, documentation fees etc.
  • Co-applicants/joint-applicants are allowed.
  • They qualify for tax benefits as per provisions of the IT Act, 1961 (subject to changes).

Home Loan Eligibility - Getting In On the Deal:

Every lender assesses a customer differently but, by and large, the basic criteria a borrower should satisfy to be eligible for a home loan are outlined below:
  • Age: The minimum age at the time of application should be 21 years. Repayments have to be completed before the age of 60 or 65.
  • Employment: Ability to service interest charges, as reflected in the borrower’s earning capacity, is important. Borrowers should:
    • Be salaried employees or self-employed persons (professional/non-professional)
    • Have been in employment/business for at least 3 years of which current employment should account for at least 1 year.
  • Income: A minimum income varying between Rs.5 - 7 lakhs would be required. This depends on the nature of employment i.e. salaried or self-employed.
  • Residence: At least one year of stay at the current residence is required to display stability.
  • Credit Rating: A good credit score is required (a score of 750-900 from CIBIL is considered good). Besides this, a healthy financial background is vital for approval and to determine the interest rate and loan amount.

Documents Required for Home Loan - For the file!

Documents to be submitted differ according to the eligibility requirements. The following, however, are commonly requested for:
  • The application form which has to be signed and affixed with the specified number and size of photographs.
  • Proof of identity, address, employment, income and tax paid as per KYC requirements. This usually includes:
    • Passport/Voter ID//Driving License/Ration Card/Utility Bills/Lease Agreements/Property Deeds/Salary Slips (3 most recent months)/Salary Certificate/Bank Statements (3-6 most recent months)/Audited financial statements/Form 16/ITR/Business deeds e.g. MOA, Partnership Agreement etc./Appointment Letter
  • Documentary evidence of the property to be funded.
  • Cheques for payment of fees charged to process the application.
In case of a joint application, the co-applicant will also be required to furnish similar paperwork.

Beat the Heat - Apply Online:

The trials and tribulations one has to go through in order to figure out where to get the best offer from can be truly taxing to the mind, body and spirit.
Performing the age-old task of going to each financier, finding out what offers are available, collating the information, calculating EMIs, submitting the required documents and following up on applications can take a toll on any potential borrower.
The best way to save on time, money and effort is to go online. Applying for home loans online is gaining popularity in India and fast becoming the mode of choice for many borrowers.

Why BankBazaar? Check it out!

BankBazaar is India’s leading portal for financial services where different home loan offers can be compared at one place and applied for without having to visit any lending institution.
Here’s what users can do:
  • Define loan parameters to receive free quotes, instantaneously, in an easy-to-understand manner.
  • Compare offers to identify the right lender to deal with.
  • Make real-time home loan comparisons to find the lowest rates in the market. At BankBazaar, interest rates are constantly monitored and updated to reflect the latest changes made by financiers.
  • Avail exclusive discounts and deals for huge savings through BankBazaar’s active collaboration with leading financial institutions.
  • Check eligibility online using BankBazaar’s home loan eligibility calculator and get immediate e-approvals.
  • Determine repayments using BankBazaar’s home loan EMI calculator which also provides amortization tables.
  • Browse user reviews to gain insights on service provided by various institutions.
  • Apply online for the chosen product directly through the site.
  • Receive end to end guidance from a dedicated customer care team for smoother processing leading to quick disbursal of money.
  • Get regular status updates.
Obtaining the right home loan is crucial to proper financial planning. It all begins with a successful search process that facilitates quick receipt of funds and guarantees peace of mind.

rated 4.0 /5.0
by 2347 users
Over 5,00,000 Happy Customers with loans & cards
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YOUR SEARCH ENDS hERE
Compare multiple options and choose the one that best suits you

Compare the best home loan offers in town and locate the lowest rates!

Offers to Compare
Over 25 offers to compare!

This is our forte- helping you compare the finest deals. Additionally, we'll handpick offers that suit your profile and present the best rates from several banks, so you can make a thoroughly-informed decision.

Breaking Down Offers
Breaking down offers

We're obsessed with giving you a 365 degree view of offers. So, we'll break it down for you - EMIs, eligibility, maximum amount that can be borrowed, fees, hidden charges... no more getting fooled by the fine print!

Why Apply Online
Preferred over builder

There's a good reason by thousands of customers choose BankBazaar - we support you in many more ways than a builder would through the process - multiple options & timely handheld support.

Cheaper then Dealer
Why apply online?

You don't have to fight for parking space! Jokes apart, applying online will help you save time and money; plus, you'll be able to use the services of our super-friendly customer service team at anytime and get all your queries answered.

Comparing Best Loans
Done comparing! Now what?

We showcase the best loan offers and help you compare them... what next? Well, we'll aid you in applying to the bank of your choice and work with you right up to the delivery of the loan!

Still have a gazillion questions?
Still have a gazillion questions?

Think of BankBazaar as your loan-savvy buddy! Our customer support team is at your service to clear doubts on eligibility, offers, procedures and documentation, and help you apply. They'll even co-ordinate with the bank to get you your loan on time.

Connect to the Bank
We'll connect you to the bank

We know the bank guys really well! So, if you want to talk to a bank representative or get help on your loan application, we won't just connect you to them; we'll also do the follow-up on your behalf.

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