This Page is BLOCKED as it is using Iframes.

Get your home loan quote in just seconds

We need a little info to see if you qualify for discounts.
  • I live in & work in .
    I make Rs. per month. I am
    property worth Rs. .
 
User reviews
  • I am holding a Home loan from Federal Bank. I have not interacted much with the customer service executives. My friend suggested me to take a loan from Federal Bank. Its been 8 years since i have taken loan. The response provided by them was very quick. Everything was perfect and the documentation was completed on an average time.
    06:54 PM - Feb 26, 2015

    , pune
    0.5 5.0/5 "Blown Away!"
  • Got discount on processing charge from HDFC Limited because I availed home loan under corporate offer. Rate of interest is similar to current market value and it is best rate. In regards to service I have no hassles and process was quick. I can pay EMI through online so this system is satisfactory.
    06:34 PM - Feb 25, 2015

    , hyderabad
    0.5 5.0/5 "Blown Away!"
  • HDFC limited is far better than any other sectors and response is very quick from the officers. I was expecting home loan in 2 days so I informed to officer so as per my expectation they approved and sanctioned in couple of days. Also I have taken top up loan recently. No dislikes with HDFC Limited as everything is positive. HDFC is competitive in interest rate and similar to other sectors. Manager of HDFC limited was very cooperative and helpful.
    02:54 PM - Feb 25, 2015

    , mumbai
    0.5 5.0/5 "Blown Away!"
  • I have a home loan from State Bank of India. In terms of customer service I am not really satisfied as I donâ??t think there is a separate customer service department. Normally I send emails for my queries. I donâ??t get a proper response and after which I have to send 4 to 5 emails. I opted for SBI as it a pure Indian Bank and I get a secured feel. There is regular updation on the interest rates as other private bank fails to do. Documentation part is hectic as I had to visit the banks for nearly 5 times to submit the documents and the loan to get sanctioned.
    05:02 PM - Feb 26, 2015

    , bangalore
    0.5 3.5/5 "Pretty good"
  • Satisfied with HDFC Limited as documentation process was smooth and the person who assisted for home loan was very responsive. Totally I saved my time as the process was simple and disbursement was very fast. From my end, I did not face grievances. 10.15% is the communicated interest rate and as per the commitment they executed. Charges were deducted as per their norms.
    05:47 PM - Feb 25, 2015

    , bangalore
    0.5 5.0/5 "Blown Away!"
  • From my personnel experience corporation bank is good for Home Loan as they provide all assistance and support for applying the home loan. The bank itself is doing the verification process, hence 99% chance to get approve if the documents is okay. They will take the legal\verification charges only after final approval of the loans.
    02:18 PM - Feb 25, 2015

    , kochi
    0.5 4.5/5 "Excellent!"
  • I applied home loan with Axis bank and received call from them but at that time I informed the executives to call in month of January but they did not approach thus I planned to take home loan with some other bank. In beginning approach was good from Axis bank and they gave good service but not discussed about interest rate. Now I cannot recall the fee and charges but it should be nominal. Axis bank is doing good but great if they remain the customer on correct time.
    02:24 PM - Feb 26, 2015

    , chennai
    0.5 5.0/5 "Blown Away!"
  • Good experience and officers were prompt in responding queries. They followed on regular basis and gave timely status of application. I never faced issues with HDFC Limited during time of home loan process. I had compared interest rate and charges with other banks but I found HDFC Limited to be best thus I preferred them. Also processing charge is reasonable.
    05:10 PM - Feb 25, 2015

    , chennai
    0.5 5.0/5 "Blown Away!"
  • Please do not apply from SBI. Their service is very very poor. The will take the documentation charges and legal charges before approval, but other bank doesn't do. And its is difficult to get approval. Lots of documents required to submit(even it is not required). Again depends on legal officer as they are giving to third party for verification, hence there are chances if we give bribe to them, they can approve. Please do not promote these. Ofcourse SBI's interest rate is low, but we will lose that amount in other way. When i approached other nationalized bank. They given very good service and approved in 10-15 days.
    02:08 PM - Feb 25, 2015

    , kochi
    0.5 0.5/5 "Unacceptable"
  • Reasonable interest rate offered by HDFC Limited where it is 10.15% and the same is offering by others as well. Processing charge deducted for home loan is 10,000 where it is similar across the banks. Overall experience was good with HDFC Limited where quick response from the executive but great if they improve customer service particularly on front end.
    10:42 AM - Feb 26, 2015

    , mumbai
    0.5 5.0/5 "Blown Away!"
  • So far very good and response was timely. More than that transparent in giving details. HDFC Limited is working good by communicating all the stuffs from start to the end. They released home loan in a short duration and rate of interest 10.15% is competitive. Rate of interest and charges are average in comparing to other industries.
    03:50 PM - Feb 25, 2015

    , delhi
    0.5 5.0/5 "Blown Away!"
  • I was holding a housing loan with Bank of Baroda. They offer very good service. Rate of interest offered by them is quite nominal. I have actually taken that for a period of 18 years. It was a joint account , however I have closed this loan in between my making a lump sum payment and also by paying higher EMI. The loan was closed successfully without any complications.
    12:49 PM - Feb 25, 2015

    , chennai
    0.5 5.0/5 "Blown Away!"
loading
BankBazaar Home Loan is Rated as " Great!" by 2970 Users
 4.0 / 5.0   by 2970 users
Used this product? Write a review >>

Fees & Charges

Promised Interest Rate

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 28 Feb 2015

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.

News About Home Loan

  • Plot Loans Offer Lower
    Loan-to-Value

    Plot loans offer lower ‘loan-to-value’ than home loans which means that the interest paid out will be higher. Loan-to-value offered by home loans is 80-85 per cent of property price but plot loans offer only 60 per cent of the property price the rate of interest charged on a plot loan is usually at par with the rates applicable to a home loan. In case of plot loans, a customer is not eligible to claim income tax deduction for principal repayment or for payment of interest.

    There are many restrictions and conditions placed on plot loans by the bank. Banks such as HDFC restrict the loan amount based on the location of the plot especially if it is located in the outskirts of the city. Also, plot loans are not available for purchasing land for agricultural purposes. It can be used only for buying a plot for residential use, investment purposes and so on. Banks normally have other restrictive clauses that require the borrower to finish construction within a stipulated period of time.

    20th February 2015

  • One Stop Shop for Home Loans –
    CREDAI Home Loan Mela Feb 2015

    Those who’ve done it will be well aware that searching for the right home loan is a time consuming process. Keeping that in mind, the Confederation of Real Estate Developers’ Association of India, better known as CREDAI, has taken a unique initiative to simplify that task for Chennai residents by organizing a Home Loan Mela this February. The event, which will take place between February 13th to February 15th at Vijay Mahal in Pondi Bazaar, is being organized to help bring customers a step closer to building their dream house. The Home Loan Mela will feature some of the country’s leading banks like ICICI, SBI, Axis Bank, HDFC, Punjab National Bank, Karur Vyasya Bank, Oriental Bank of Commerce, Sundaram BNP PARIBAS, India Bulls, LIC Housing Corporation and more. Customers can benefit not only from the wide range of choices available for home loans but also gather valuable information pertaining to home loans under one roof at the Home Loan Mela this February.

    12th February 2015

  • Getting Low Cost Housing Loans
    Just Got Easier

    As a welcome sign from RBI for banks to reduce rates, norms have been eased for applicants seeking home loans for low-cost housing. This means you can now easily get home loans with minimal conditions. RBI has also allowed banks to provide loans in return for long-term infrastructure bonds as security. However, this new rule and minimal conditions for home loan does not apply for home loans in case the long-term infrastructure bonds is in the name of other banks.


    In short, getting to the actual amount of home loan disbursed, one can expect a maximum amount of Rs 10 lakh. The loan repayment period is fixed based upon the time duration of the maturity of the bonds which is pledged as a surety for the low cost home loan. This new rule comes on the back of the RBI’s recent decision to allow money lending against long-term infrastructure bonds raised by the banks. Further, the loans against such bonds do not have to comply with the mandatory reserve requirements.

    1st December 2014


rated 4.0 /5.0
by 2970 users
Over 5,00,000 Happy Customers with loans & cards
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.

Loan
BankBazaar
Have a question? Leave your email here Thank You! Sorry! That looks invalid. Please try again.
Thank you for the feedback.
Make a suggestion or report a bug
  • Like us? Spread the word
  • Broadcast your feedback via Facebook Twitter
  • or Cancel
  • View our privacy policy

reTH65gcmBgCJ7k - pingdom check string.