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Customer Reviews

    • Home Loan
      0.5 3.0/5 "Satisfactory"
      The Emi is paid for the home loan is around 4812 for 4 Lakh taken from Hdfc Ltd. I had a very good experience when I opted loan with them, within a short period of time the process was completed. I had no problem with the services, Interest was flat around 10% over all process went on smoothly with Hdfc Ltd.
      Was this review helpful? 0
      , kannur
      Reviewed on Oct 03, 2015
    • Bank Bazaar Customer Support
      0.5 4.5/5 "Excellent!"
      Service was really appreciable from Bankbazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 03, 2015
    • Home Loan
      "Smooth processing.."
      0.5 5.0/5 "Blown Away!"
      10.15% is the interest rate for the home loan and it is fixed for first two years where followed to that it would be floating. For an existing customers there would be no processing charge. We have corporate tie ups and no issues in availing loan because the ICICI bank would collect the documents from the HR. Pre closure is nil after two years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 03, 2015
    • Home Loan
      "Excellent service..."
      0.5 5.0/5 "Blown Away!"
      I have settled the home loan of SBI as I fore closed that. I paid only the outstanding amount and there was not pre closure charge. Very good services and customer support is awesome. Excellent in all the aspects.Processing charge was 0.5%, I believe.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Oct 03, 2015
    • Home Loan
      "Very good bank..."
      0.5 5.0/5 "Blown Away!"
      PNB Housing Finance is very beautiful and the rate of interest on home loan is very reasonable. Customer support is very fine and every year they contact me to get the feedback. Recently PNB has reduced the interest rate of 0.25% and they offered like 9.25%. At that time some home mela was going on so they waived the processing charge.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Oct 03, 2015
    • Home Loan
      "Every ones loan destination.."
      0.5 4.0/5 "Great!"
      HDFC Ltd home loan process was very friendly. Local executives are very supportive. Very simple documents are collected. When I took the loan its arround10.2% after ward they reduced as 9.85%. They gave me a clear statements about my loan.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Oct 03, 2015
    • Home Loan
      "One of the good nationalized banks"
      0.5 4.0/5 "Great!"
      I took the home loan with the central bank of india. When I took the loan the rate of interest as 10.25% and it got reduced now. I dint had experience with them and within a month of time the loan got disbursed with them. My papers are clean, so I got the loan easily. There was a scheme on that time , so the processing charges are zero.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 03, 2015
    • Home Loan
      "Not a good one"
      0.5 0.5/5 "Unacceptable"
      My entire feedback is for Bank who has asked me to submit the documents which is logically does not exists. Even for Paid loan of 2002, they are asking for NOC when it reflects Clear in Cibil report. Such a Pathetic SBI. My gentle advise to all, dont go to SBI even though its largest bank in India still they have to learn a lot. I felt like they are asking for Documents not for approval But for NOT Approval.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Oct 03, 2015
    • Bank Bazaar Customer Support
      "Centralised one!"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar website is a centralised website for all financial services. I got to know about them through TV advertisements and I got a call from them on the next day of applying for a loan through them. It would be better if they quote the exact EMI value on their website for loans.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 01, 2015
    • Home Loan
      "Happy loans!"
      0.5 4.0/5 "Great!"
      Once I applied for a home loan with them , they are ready to provide me the expected loan amount. Since I didnâ??t finalize the property I am not able to take the loan with PNB housing Finance Limited. Interest rate is fixed for first 3 years and then floating for the remaining tenure. I would suggest them to waive off the processing fees for the loan application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 01, 2015
    • Home Loan
      "No suuport"
      0.5 2.0/5 "Expected more"
      HDFC Ltd took almost 1 month to process my Home loan application. I availed home loan in January 2015 from HDFC Ltd. I had immense necessity at that point of time and I had already given initial payment to the property dealer and there was a set validity time. I was disappointed with the response from HDFC Ltd. They did not give any support to me as a customer.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Oct 01, 2015
    • Home Loan
      "For Home Loan LIC is the best!!!"
      0.5 5.0/5 "Blown Away!"
      Lic Housing finance is very good in everything like service, interest rate and charges.. They have given interest rate around 10% which is fixed for 5 years. If had to do pre closure there is no charges and the principle amount will be reduced and interest rate will be the same so it one of the good advantage. I am very much happy with Lic Housing Finance in terms of home loan
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 01, 2015
    BankBazaar Home Loan is Rated as " Great!" by 5164 Users
     4.0 / 5.0   by 5164 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service



    You're eligible for a Home Loan if you:


    Are legally adult enough to handle it

    Have still got it

    Get a regular pay check

    Make more than a basic buck

    Your eligibility depends on


    EMI limited to about 50%
    of monthly income

    Loan capped @ 75% - 85% on property value

    EMIs of other loans lower
    your eligibility

    Boost your eligibility by


    Making your spouse a co-applicant

    Choose longer tenure loans of up to 20 - 30 years

    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 04 Oct 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

    • Cheaper home loans with unbelievable rate cuts, RBI

      RBI has publicized the much-awaited and welcome slashes in home loans, which is a 50 bps deduction in the policy rate to 6.75 percent. This is a huge relief for prospective home purchasers as most banks and financiers will be forced to bring down the lending rates. The decreased repo rate, the rate at which RBI advances to banks from 7.25 percent, has come as a huge shock to the housing loan market which had anticipated a mere 25 basis point cut. But again, it is doubtful that banks will reduce their standard lending rate even by a single point. But according to Mr. P Srinivas, the CEO and MD of United Bank of India, the transmission will soon happen, benefitting the customers in general. Mr. B K Batra, MD of IDBI too echoed the thought. India’s biggest public sector bank, SBI has brought down its base rate at 9.70 percent, while private bank, HDFC has fixed its floor lending rate at 9.35 percent.

      30th September 2015

    • Home Loans to be offered at an interest rate of below 6% by the Maharashtra Government.

      In an effort to provide affordable housing schemes to individuals, the Maharashtra Government would be reducing the interest rates on home loans. As per a senior state Government official, the home loan interest rates will range between 5.6% and 6% for a particular portion of the loan amount. Currently, the Maharashtra State Government is working with the Centre to finalize on this reduction.

      This move has been initiated by the Government to help individuals who find it difficult to pay high EMIs and house rents. The Government is planning to actually ask banks to offer loans at a subsidized rate, with the difference amount being paid by them. With the final decision still pending on this, the Government has to still take permissions from the Central Bank for the same.

      4th September 2015

    • Tax Benefits on Home Loan Repayment

      One of the many things that motivate people to purchase a home is the tax incentives that accompany a home loan. However, a home loan has many purposes – construction, upgradation, repairs & renovation. It is important to understand that the tax benefit depends on the purpose of the home loan. The EMI is a combination of the principal repayment and interest component and under section 80C of Income Tax Act 1961, the principal repayment component can be presented for tax deduction with a limit of Rs.1.5 lakhs. Similarly, the upper limit for tax deduction on interest component has been set at Rs.2 lakh a year. This provision can be claimed only if the loan has been availed for a self-occupied property.

      For a home loan taken for renovation, alteration or repair, tax deduction can be claimed under 24(b) and the limit for this is set at Rs.30,000 a year for self-occupied property. Also, for home loans availed on or after 1st April 1999, a person can claim deduction up to Rs.2 lakhs only. In case the loan was taken for the purpose of house construction, the same should have constructed completely within three years and the lender must certify that the home loan was taken only to construct or buy a house.

      If your loan concerns a residential property that has been rented out, there is no cap for tax deduction irrespective of if the home loan has been taken for repair, renovation or construction.

      19th August 2015

    • Much anticipation surrounding the launch of affordable housing schemes

      On 25th June 2015, Prime Minister Mr. Narendra Modi is anticipated to launch three Housing schemes – Housing for All by 2022, 100 Smart Cities and AMRUT. The primary objective of the Housing for all by 2022 is to make around two crore homes available in the urban areas of India. To accomplish this scheme, facilities like a fast approval process, unlocking land to ensure affordable houses, and empowering the low-income groups financially are integral. The developers are excited about getting an opportunity to construct affordable houses due to this scheme. The chairperson of Mantri Realty, Mr. Sunil Mantri is of the opinion that in big cities like Delhi, Mumbai and Bangalore, the government should improve the infrastructure first. With the present state of infrastructure in these cities, the concept of affordable housing falls flat.

      These days, with various leading banks providing home loans at affordable rates of interest, buying a house is no longer an unachievable dream. Every home loan scheme has been designed keeping in mind the needs of the individual customer. You can refer to any third party financial website to check the various home loan schemes offered by different banks, and choose the best scheme for yourself.

      04th August 2015

    • Demand for Home Loans are Stagnant as Public Expects Housing Costs to Come Down

      With a drop in interest rates for home loans after the repo rate cuts from RBI, customers in India are expecting home prices to come down as well, noted Renu Sud Karnad, the managing director of HDFC. The general public is of the view that since there was a drop in interest rates, there might be an alternate drop in housing prices. But builders are hesitant to offer deals and lower their prices owing to the debt burden they shoulder.

      With skyrocketing prices and an absence of good deals, the demand for homes have diminished lately. Builders only offer deals and discounts for serious buyers. Though HDFC reports that customers have been enquiring about home loans and interest rates, they are still unsure about the decision they should make about buying a home. With builders not offering anything extravagant to customers, most buyers are not yet ready to take the plunge.

      22nd July 2015

    • Customers can now apply for State Bank of India home loans on BankBazaar.

      State Bank of India, one of the largest public sector banks in India has signed an agreement with to display their loan products on the online portal. SBI’s strategic augmentation to its home loan portfolio is highlighted in its decision to join hands with the leading online financial service provider, BankBazaar. This tie up would definitely increase the online presence of SBI in the digital market. Home loans from SBI will be easily available as has strongholds, both on the internet and through its mobile application. The customized quotes and comparison feature on BankBazaar’s website and mobile app would definitely help customers to choose home loans easily and wisely.

      17th July 2015

    • Much anticipation surrounding the launch of affordable housing schemes

      On 25th June 2015, Prime Minister Mr. Narendra Modi is anticipated to launch three Housing schemes – Housing for All by 2022, 100 Smart Cities and AMRUT. The primary objective of the Housing for all by 2022 is to make around two crore homes available in the urban areas of India. To accomplish this scheme, facilities like a fast approval process, unlocking land to ensure affordable houses, and empowering the low-income groups financially are integral. The developers are excited about getting an opportunity to construct affordable houses due to this scheme. The chairperson of Mantri Realty, Mr. Sunil Mantri is of the opinion that in big cities like Delhi, Mumbai and Bangalore, the government should improve the infrastructure first. With the present state of infrastructure in these cities, the concept of affordable housing falls flat.

      These days, with various leading banks providing home loans at affordable rates of interest, buying a house is no longer an unachievable dream. Every home loan scheme has been designed keeping in mind the needs of the individual customer. You can refer to any third party financial website to check the various home loan schemes offered by different banks, and choose the best scheme for yourself.

      10th July 2015

    • Government Offers Housing Loan Interest Subsidy to Poor

      In order to support its ‘housing for all by 2022’ project, the government has announced that it will offer a wide range of incentives to people from economically backward families including a subsidy of 6.5% on home loan interest rates. The government hopes that these incentives will motivate people from economically weaker families to opt for home loans and construct their own houses. Prime Minister Narendra Modi chaired a meeting of the Cabinet Committee on Economic Affairs (CCEA) in which he cleared certain changes to ‘housing for all by 2022’. These changes paved the way for providing interest subsidy on housing loans to poor people.

      The poor people in urban areas can enjoy economic benefit to the tune of Rs 2.30 lakhs each, if they opted for a home loan with a tenure of 15 years. Also, the income limit for low income category in urban areas has been doubled by the government to 2 lakhs per annum for availing benefits under this scheme.

      2nd July 2015

    • CIBIL Reports Growth in Home Loans and Credit Cards

      The Credit Information Bureau of India Ltd. (CIBIL), has reported that there has been a substantial increase in the demand for home loans and credit cards in India. The Senior Vice President of the Customer Relations department of CIBIL, Harshala Chandorkar, disclosed that the growth of home loans has been triggered by an increase in the demand for the loans in the cities of Delhi, Bangalore, Mumbai and Pune.

      In the 1st quarter of this year, around 3.9 lakhs new home loans were processed and it is estimated that the number will continue to grow exponentially as the year progresses. The delinquency on has decreased as well, by 0.57% in the same quarter, in comparison to 2010 when it was 1.06% by end of the year.

      25th June 2015

    • RBI Slashes Repo Rate Again- Leading Lenders Follow

      On Tuesday, India’s apex bank, the Reserve Bank of India (RBI) slashed its repo rate again by 0.25%. In response, leading Indian lenders including SBI and Allahabad Bank, have also acted swiftly and cut their own base lending rates. SBI has affected a cut of 15 basis points to arrive at a lending rate of 9.70%, while Allahabad Bank is set to lower its lending rate by 30 basis points. Alongside these two, Dena Bank and Punjab and Sind Bank have committed to individual cuts of 25 basis points each, while other influential banks including ICICI, HDFC and Axis Bank are expected to follow suit. While this move from RBI is expected to have a positive long term impact on India’s economic growth, the immediate reaction will be lowering of EMIs pertaining to loan products, including Auto, Retail and Home Loans.

      11th June 2015

    • Home Loans are decided not just by interest rates

      Customers do not decide on buying a house depending only on the interest rate offered on home loans. Instead, their decision is based on prevailing circumstances and events that affect them. They are aware of the fact that various financial institutions and banks offer a variety of options and plans through different home loan schemes. Other factors that will have an impact on the customers include loan application process, time taken for approving loan, terms and conditions of the loan etc.

      Financial institutions should be able to determine choices of customers well in advance to have a competitive advantage and to establish a solid customer base. By considering these factors, financial institutions can sustain in difficult market conditions.

      29th May 2015

    • Rising home loan business in 2015

      The fiscal year 2015 witnessed a rise in home loan disbursements. The housing finance sector has seen a 17% growth in the first nine months of 2014-15. The overall economic state has improved, giving borrowers more disposable income, while the interest rates have been reduced, and thus making house purchases affordable. Also, with the overall prices of property increasing marginally, purchasing homes on the boundaries of the metros is feasible. During the last fiscal year, housing finance companies reported capital infusions of Rs 1,780 crore according to the IRCA, showing that investment in the housing sector has risen.

      HDFC’s average home loan last fiscal increased from 22.1 lakhs to 23.3 lakhs resulting in a 16% growth in individual loan disbursements. HDFC and Indiabulls Housing lowered their lending rates to 9.9%, and Sundaram BNP Paribas Home Finance reduced to 9.95%.

      The center is also encouraging affordable housing by providing tax deductions on interest paid, and proposing to increase the tax rebate on home loans. The ICRA has predicted that this would boost the housing loan growth to 20-22% this fiscal year.

      20th May 2015

    • Private sector banks slash home loan lending rates.

      With a sluggish credit growth and a fear of business losses, some of the private sector banks have lowered their interest rates by 20 to 25 basis points. Axis Bank led the group by introducing a base rate of 9.95% reduced from 10.15%, effective from April 13. Lakshmi Vilas Bank has also announced a base rate cut of 15 bps lowering its home loan interest rate to 11.10%. Financial institutions like City Union Bank and Repco Bank are also expected to follow suit. The rate cut expected from City Union Bank is around 10 to 25 basis points.

      With bigger banks like HDFC and ICICI lowering their base rates, smaller financial institutions have been forced to make this move to sustain their businesses. Earlier HDFC had reduced its base rate by 15 basis points to 9.85% from 10% and ICICI bank had lowered its base rate by 25 basis points to 9.75%. These base rate cuts have been reported to have stemmed from the two repo rate cuts of 25 bps each announced by the Reserve Bank of India at the beginning of this year.

      23rd April 2015

    • Home Loans for Maharashtra
      Government employees.

      The Maharashtra Government announced that it would be providing home loans to all its employees amounting between Rs 20 lakhs to Rs 50 lakhs, keeping in mind the skyrocketing housing prices in the urban areas. The bank said that the loan amount will be determined based on the grade of the staff with an eligibility criteria attached. Government employees should have completed five years of service along with the same number of years left to qualify for the home loan.

      If both the spouses are Government employees, then the home loan will be given only to one of them with the new property being bought in the name of the individual opting for the house loan. The sixth pay commission has broken down the cities in Maharashtra into two categories, ‘X’ and ‘Y’ depending on existing property rates. For individuals residing in ‘X’ cities, the home loan amount would be Rs 50 lakhs, in ‘Y’ cities it would be Rs 30 lakhs and for the remaining areas it would be around Rs 20 lakhs.

      16th March 2015

    • RBI’s Repo Rate Cut Likely to
      Make Home Loans Cheaper

      The Reserve Bank of India cut repo rate by 25 basis points bringing the policy repo rate to 7.5% from 7.75%. This second rate cut in the last two months is expected to make home loans cheaper. This move comes days after the release of Union Budget wherein the government had planned to collaborate with the RBI to target inflation. The RBI rate cut is likely to give a boost to the economy while also bringing down the loan EMIs. This cut in the policy key rates will lead to a reduction in lending rates by banks and also drive the banks to drop interest rates on home and car loans. RBI quoted its pledge to exercise fiscal responsibility and be pre-emptive in its policy for monetary accommodation as the main reasons for the rate cut.

      With the rate cut leading to lower EMIs, this might well be the right time to apply for a home loan if it is on your agenda. Check out various home loan options on to plan your finances accordingly.

      6th March 2015

    • Plot Loans Offer Lower

      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

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