A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Composite Loan

    Composite loan is a loan extended by banks and financial institutions for the purpose of purchasing a plot or land and constructing a house on it within a given a timeline. It’s a combination of plot loan and construction loan. In this type of loan, the cost of both land or plot and construction of the house is covered.

    Bank Interest rate Best for
    HDFC 8.60% onwards Higher Term of 15 Years
    SBI 8.70 onwards Rate of Interest on Daily Reducing Balance
    DHFL 9.75% Higher Term of 30 Years
    PNB Housing 10.05% onwards Higher Funding of up to 90% of the property market value

    Compare Composite Loan

    1. HDFC Composite Loan
      • Interest Rate: 8.60% onwards
      • Tenure: 15 years
      • Loan Amount
        • Up to and including Rs.30 lakh: 80% of the property value.
        • Rs.31 lakh – Rs.75 lakh: 80% of the property value.
        • Above Rs.75 lakh: 75% of the property cost.
      • Processing Fee
        • Salaried: Up to 0.50% of the loan amount or Rs.3,000
        • Self-Employed Professionals: Up to 0.50% of the loan amount or Rs.3,000
        • Self-Employed Non-Professionals: Up to 1.50% of the loan amount or Rs.4,500
      • Eligibility Criteria is 18-65 years of age, both for Salaried/Self-Employed Indian Resident.
      • Zero repayment charges.
      • You can balance transfer from another bank.
      • Loans for purchase of plot or land through direct allotment or resale.
    2. SBI Composite Loan
      • Interest Rate: 8.70% onwards
      • Tenure: Up to 10 years
      • Loan Amount: Up to Rs.15 crore
      • Processing Fee: 0.35% of the loan amount + taxes, subject to a minimum of Rs.2,000 and maximum of Rs.10,000.
      • Eligibility criteria is 18-65 years of age.
      • Interest concession for women borrowers.
      • Repayment up to 10 years.
      • Interest rate on daily reducing balance.
    3. DHFL Composite Loan
      • Tenure: Up to 30 years
      • Loan Amount: Rs.5 crore
      • Processing Fee:

        Salaried & Self-Employed Professionals:
        Up to Rs.30 lakh: Rs.5,000
        Above Rs.30 lakh Up to Rs.75 lakh: Rs.10,000
        Above Rs.75 lakh: Rs.20,000

        Self-Employed Non-Professionals: Net PAT: 0.5% + taxes Others: 1.5% + taxes

      • Eligibility criteria is 21-65 years of age.
      • Resident and Non-Resident Indians can apply.
      • EMI calculated on monthly reducing balance.
    4. PNB Housing Composite Loan
      • Interest Rate: 10.05% onwards
      • Tenure: Up to 30 years
      • Loan Amount:
        • Up to Rs.20 lakh: 90% of the property value
        • Rs.20 lakh and above Up to Rs.75 lakh: 80% of the property value
        • Above Rs.75 lakh: 75% of the property value
      • Processing Fee: 1% of the loan amount + taxes
      • Age should not be more than 70 years at the time of loan maturity.
      • Various types of home loan schemes to suit your needs.

    Composite Loan Eligibility

    Below are the eligibility criteria to avail a composite loan:

    Criteria Salaried Self-Employed
    Age 18 years – 70 years
    CIBIL Score Above 750 Above 750

    Documents Required for Composite Loans

    Below are the set of documents required to avail a composite loan:

    Requirements Salaried Self-Employed
    Proof of Identity Voter’s ID, Driving Licence, Passport or PAN card
    Proof of Address Utility bills, Passport, Driving Licence
    Proof of Income Bank Statement of salary account for last three months and last six-month salary slips Audited financial statement of the past two years


    1. How will the bank decide the loan amount I am eligible for?

      Banks and lenders determine your eligibility by your income and repayment capacity. Other factors include your age, occupation, qualification, number of dependents, assets and liabilities, savings history, your spouse’s income (if any), and the stability and continuity of occupation.

    2. What are ways I can repay the loan?

      Banks and lenders offer several modes of repayment of the loan. You can set up standing instructions to your banker to pay the EMI through ECS (Electronic Clearing System), choose for direct deduction of EMI by your employer or you could issue Post-Dated Cheques (PDCs) from your salary account.

    3. In how many installments can the bank disburse the loan?

      Upon receiving your request, the bank or the lender will disburse the loan amount in full or in installments. In case of an under-construction property, the bank will disburse the loan in installments based on the construction progress, subject to assessment by the bank and not necessarily as per the developer’s agreement.

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