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User reviews
  • There was regular follow up and the executive was keep on updating the status while I approached Axis bank for Home loan. Actually I postpone the decision of taking home loan and time was bounced so the application got closed. The rate of interest is not much high and not much less, it is similar to other banks. Overall, I am satisfied with Axis bank and its services.
    02:45 PM - Oct 24, 2014

    KUMAR SEETHA RAMAN, coimbatore
    5.0/5 "Blown Away!"
  • My experience was good with Axis bank while dealing with them for home loan. The executives coordinated well and even they helped me in property. They processed within 6 to 7 days and the process was faster. The rate of interest, fee and charges are similar like other banks however I am satisfied.
    10:46 AM - Oct 24, 2014

    RANJIT SARKAR, lucknow
    4.0/5 "Great!"
  • At the moment of time when I applied with ICICI for home loan, I was not able to go further as the follow up calls was not there from the customer service team. There was an initial call stating that one of the executive would come and collect the documents, however there is not even a single response. One of my suggestion is to minimize the time of response time and provide a appropriate number to contact.
    05:43 PM - Oct 23, 2014

    RAHUL RAMDAYAL JAJAORIYA, pune
    3.0/5 "Satisfactory"
  • Basically my experience of availing a home loan from HDFC LTD was not that good. It took lot of time almost 2 months for processing & disbursing my loan. There was no proper communication and the person who was handling my case was not that much helpful. I think the processing fee & charges are quite competitive and they offered me an interest rate of 10.15%.
    01:51 PM - Oct 24, 2014

    RAJESH SHARMA, bangalore
    1.0/5 "Really Bad"
  • Through on line, it was just an inquiry made with HDFC limited in terms of home loan. However, I had arranged money from other sources and in terms of services, HDFC limited is too good. The relationship officer spoke to me well and was too friendly. I felt even documentation is quite simple.
    06:06 PM - Oct 23, 2014

    KRISHNA MOORTHY, chennai
    4.0/5 "Great!"
  • LIC housing finance services in availing home loan is quite good. The agent is too cooperative and he did respond and guided me throughout the entire process. Interest rate is 10.15% with no pre closure charges. I liked the processing time which was short and done within the time.
    05:41 PM - Oct 23, 2014

    RAHUL RAMDAYAL JAJAORIYA, pune
    4.0/5 "Great!"
  • Actually I requested the loan amount of 45lakhs and HDFC Limited processed my expectation by keeping brother and mother as co-applicant. The rate of interest is floating which is similar to other banks. The process is still under process and I yet to receive the amount, overall customer service is good. I am happy about Home loan with HDFC Limited.
    12:53 PM - Oct 24, 2014

    AMOL VASANT THOMBRE, pune
    5.0/5 "Blown Away!"
  • The rate of interest, fee and charges are bit high in ICICI bank. The home loan process was fast and they disbursed the loan amount in a short period of time. ICICI bank could reduce the rate of interest however I am satisfied with their service.
    05:55 PM - Oct 23, 2014

    KANDEEBAN S, tirunelveli
    4.0/5 "Great!"
  • As comparing with other banks the process is clear in Axis bank and the executive has mentioned the details explicitly without hiding. Actually I was contacted by two of the executives and felt some confusion on it thus I dropped home loan idea and gone for personal loan with Axis bank. Initially one of the Axis bank executive came my place for application process later another executive from Axis bank contacted me and informed that the application could no pre filled thus I skipped. It would be better if Axis bank message the details of executive in prior so that customer could avoid confusion.
    05:18 PM - Oct 23, 2014

    BHAVNEET BHOOSHAN BODH, indore
    4.0/5 "Great!"
  • I have postponed ed the idea of taking a Axis Bank housing loan as, I as would require that only after 7 or 8 months its basically a under constructed property. I have to pay the amount first only after I would able to finalize the property and I am quite ok with the interest rate .
    11:05 AM - Oct 24, 2014

    AMISH KARNIK, navi mumbai
    3.0/5 "Satisfactory"
  • I traveled smooth with Axis bank when I approached them for home loan and they are good in response. Basis my experience the rate of interest is bit high thus Axis bank could reduce the rate. I was trying to buy one house but unfortunately I unable to deal thus I skipped home loan process but I would come to Axis bank in future if I do have requirements.
    05:54 PM - Oct 23, 2014

    KANDEEBAN S, tirunelveli
    4.0/5 "Great!"
  • I did not face any problem with Axis Bank with regards to housing loan, even before I could start off with the process, I got a call from HDFC Ltd and HDFC Ltd approved the property and that is the reason why I gave up the idea of taking a loan from Axis . However Axis Bank was clear in explaining about the interest rates and other factors.
    05:17 PM - Oct 23, 2014

    HARSHAL SUDHAKAR CHAUDHARI, thane
    3.0/5 "Satisfactory"
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BankBazaar Home Loan is Rated as "Pretty good" by 3184 Users
 3.5 / 5.0   by 3184 users
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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 25 Oct 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 3.5 /5.0
by 3184 users
Over 5,00,000 Happy Customers with loans & cards
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Compare multiple options and choose the one that best suits you

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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 Car 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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