A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Construction Loans

    Banks/financial institutions offer affordable loans at attractive interest rates to assist you in constructing a house/residential property with simple documentation and flexible repayment schemes.
    More
    Bank Interest rate Best for
    DHFL Starts at 9.75% p.a. Easy Mode of Repayment
    HDFC Bank Starts at 8.70% p.a. Long-term Requirements
    State Bank of India Starts at 8.60% p.a. Low Interest Rates
    PNB Housing Finance Ltd. Starts at 10.10% p.a. Non-Resident Indians (NRIs)
    Canara Bank Starts at 8.70% p.a. Low Processing Fees

    DHFL Home Construction Loan – Best for Easy Repayment Options

    Key Highlights
    • Suitable for those looking to construct a house on an already owned plot/property.
    • Flexible repayment schemes
    • Attractive rate of interest
    Interest rates Loan tenure EMI Processing fees
    Starts at 9.75% p.a. Up to 30 years Rs.859 per lakh Up to Rs.20,000 + document charges + applicable taxes

    SBI Regular Home Loan – Best for Low Interest Rates

    Key Highlights
    • Interest rate concession for women applicants
    • Zero charges on prepayment
    • Extended loan repayment tenures
    Interest rates Loan tenure EMI Processing fees
    Starts at 8.60% p.a. Up to 30 years Rs.776 per lakh 0.35% of the loan amount (Min. Rs.2,000; Max. Rs.10,000) *

    *Full waiver of processing fee until 31 May 2019

    HDFC Home Loan – Best for Long-term Requirements

    Key Highlights
    • Can be availed by individuals looking to construct a house on a residential plot/or a Development Authority allotted plot
    • Longer loan tenures
    • Competitive interest rates
    Interest rates Loan tenure EMI Processing fees
    Starts at 8.70% p.a. Up to 30 years Rs.783 per lakh For Salaried: Up to 0.50% of the loan amount or Rs.3,000

    For Self-employed: Up to Rs.1.50% of the loan amount or Rs.4,500

    *(whichever is higher) + applicable taxes

    *(whichever is higher) + applicable taxes

    Canara Bank Home Loan – Best for Low Processing Fees

    Key Highlights
    • Individuals above the age of 60 years also eligible for the loan
    • Available for both salaried and self-employed borrowers
    • Zero prepayment charges on floating rate housing loans
    Interest rates Loan tenure EMI Processing fees
    Starts at 8.70% p.a. Up to 30 years Rs.783 per lakh Up to 0.50% of the loan amount (Min. Rs.1,500; Max. Rs.10,000) + applicable taxes

    PNB HFL NRI Home Loan – Best for NRIs

    Key Highlights
    • Extended loan tenures for a comfortable repayment period
    • Simple documentation and quick processing
    • Nominal processing fee
    Interest rates Loan tenure EMI Processing fees
    Starts at 10.10% p.a. Up to 15 years Rs.1,081 per lakh 2% of the loan amount + applicable taxes

    Eligibility Criteria for Salaried

    Eligibility Criteria Requirement
    Age
    • Minimum Age: 18 years
    • Maximum Age: 65 years
    Resident Type The applicant must be (any one):
    • Resident Indian
    • Non-Resident Indian (NRI)
    Employment The applicant must be salaried and be working under the current employer for at least 1 year
    Residence The applicant must have (any one):
    • A permanent residence
    • Or a rented residence where he/she has resided for at least 1 year before applying for loan
    Credit score A good credit score of at least 700 or more obtained from a recognised credit bureau

    Eligibility Criteria for Self-Employed

    Eligibility Criteria Requirement
    Age
    • Minimum Age: 18 years
    • Maximum Age: 65 years
    Resident Type The applicant must be (any one):
    • Resident Indian
    • Non-Resident Indian (NRI)
    Employment The applicant must be (any one):
    • Self-Employed Professional (SEP)
    • Self-Employed Non-Professional (SENP)
    Residence The applicant must have (any one):
    • A permanent residence
    • Or a rented residence where the individual has resided for at least 12 months before applying for loan
    Credit score A good credit report with a score of at least 750 or more obtained from a recognised credit bureau

    Documents Required for Salaried

    Proof of Identity (any one)
    • Aadhaar Card
    • Valid Passport
    • Voter ID Card
    • Valid Driving License
    • PAN Card
    Proof of Residence (any one)
    • Valid Passport
    • Voter ID Card
    • Aadhar Card
    • Employer ID Card
    • Utility Bills
    Proof of Income
    • Income Tax Returns and latest Form 16
    • Salary account statements showing salary credits for the last 6 months
    • Salary slips or certificated for the last 3 months
    Property Related Documents
    • Encumbrance Certificate
    • Title Deeds of the Plot
    • Estimate for construction assessed by a Civil Engineer/ an Architect
    • Photocopy of the plan sanctioned by Local Authorities
    Other Documents
    • Own Contribution Proof
    • Appointment letter/employment contract If the current employment period is less than 12 months
    • Bank account statements indicating repayments made towards other ongoing loans if any
    • Processing fee cheque in favour of the lending institution
    • Duly filled loan application form affixed with passport size photographs of all the applicants/co-applicants.

    Documents Required for Self-Employed

    Proof of Identity (any one)
    • Voter ID Card
    • Valid Driving License
    • PAN Card
    • Valid Passport
    • Aadhaar Card
    Proof of Residence (any one)
    • Aadhar Card
    • Utility Bills
    • Valid Passport
    • Voter ID Card
    • Employer ID Card
    Proof of Income
    • Income Tax Returns coupled with the computation of income of both the applicant and the business entity (attested by a certified CA) for the last 3 assessment years
    • Balance Sheet and P & L account statements with Annexures/Schedules of both the business entity and the applicant (attest by a certified CA) the last 3 years
    • Savings account statements of the applicant and the current account statements of the business entity for the last 6 months
    Property Related Documents
    • Title Deeds of the Plot
    • Estimate for construction assessed by a Civil Engineer/ an Architect
    • Encumbrance Certificate
    • Photocopy of the plan sanctioned by Local Authorities
    Other Documents
    • Own Contribution Proof
    • Latest Form 26 AS
    • Business Profile
    • Memorandum and Articles of Association of the Company
    • Partnership deeds if the business entity is established as a partnership firm
    • List of Shareholders and Directors with their respective shareholdings if the business entity is established as a company (certified by a CA)
    • Bank account statements of both the individual and the business entity indicating details of ongoing loans if any
    • Processing fee cheque favouring the bank/financial institution
    • Duly filled application form affixed with passport size photographs of all the applicants/co-applicants and signed across.

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    Home Construction Loans Reviews

    • LIC Housing Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken holding my housing loan with LIC housing finance long back, they had given me good sufficient loan amount as per my requirement, the rate of interest they have charged me was nominal, so far i did not face any issue, i closed the loan amount my additional charges got waived off.
      Was this review helpful? 1
      , jaipur
      Reviewed on May 25, 2019
    • Axis Bank Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Home Loan directly through Bank.The loan amount was 33.25 lakhs for the tenure of 20yesrs ,This loan still is active ,The rate of interest and processing fee was nominal ,The agent gave all the information about the loan process clearly ,The loan got sanctioned on time ,the loan amount was sufficient.
      Was this review helpful? 1
      , chennai
      Reviewed on May 25, 2019
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in LIC HOUSING FINANCE for more than 1 year. As per my requirement I received a loan amount for the duration of 20 years. The rate of interest is nominal and the processing fee is applicable. On time the loan got sanctioned from the bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2019
    • Allahabad Bank Home Loan
      "Customer friendly with low interest charges & great service"
      0.5 5.0/5 "Blown Away!"
      I have home loan with Allahabad bank, the process was customer friendly. They sanctioned the loan amount within 10 days, the rate of interest is nominal as compared to other banks. I took the loan amount of Rs.25 lakhs for the duration of 15 years.
      Was this review helpful? 0
      , vadodara
      Reviewed on May 25, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had been holding my home loan with HDFC LTD, the loan amount they have given me was sufficient and the rate of interest they have shared me was nominal they have charged me low as it is nationalized bank, and there processing fee was there or not i have no idea, there overall service was good, there was no hidden charged in this loan.Now i have successfully closed this loan.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 25, 2019
    • LIC Housing Home Loan
      "Good loan services"
      0.5 2.0/5 "Expected more"
      LIC home loan service is not so good. The interest rate is low in LIC. They have sanctioned the loan very late. They have broker to sanctioned the loan and the LIC employee don't deal with the customers directly. The brokers will get money from the customer. If the customer applies the loan directly, the LIC people will reject the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 24, 2019
    • review Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken my housing loan with Bajaj finance limited , the loan amount which they have given to me was sufficient , it was as per my requirement, they have help me out when it was on emergency case, they ask for the documents and quick they sanction my loan, the rate of interest i had some confusion, like every time they use to increase interest , now it is 11.5% which is nominal,i has been 5-6 months only i have taken this loan.
      Was this review helpful? 0
      , pune
      Reviewed on May 23, 2019
    • HDFC Limited Home Loan
      "Easy processing loan"
      0.5 5.0/5 "Blown Away!"
      I have bought home loan in HDFC Ltd since i know the people working over there, i have chosen this bank. There is a very quick loan process. I applied the loan amount of Rs. 62 lakhs which is a joint home loan and they have sanctioned the same. The processing fee and the interest rates are nominal. I used to pay the EMI through auto deduction.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2019
    • Canara Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had applied for a home loan with CANARA BANK and to get my application processed it has not took a long time. There was no delay. The interest rates moderate because they keep on changing the rates . Customer service is very good they are very professional .
      Was this review helpful? 1
      , ghaziabad
      Reviewed on May 22, 2019
    • HDFC Limited Home Loan
      "Good home loan service"
      0.5 5.0/5 "Blown Away!"
      Taken my home loan from HDFC ltd. Bought my loan 10 years back. I had a salary account with them, hence i have selected this bank. I have bought the loan amount of Rs. 5.50 lakhs. I am paying the EMI amount of Rs. 6800. I have selected the tenure period of 20 years. I have paid the processing fee of Rs. 6000.
      Was this review helpful? 0
      , vadodara
      Reviewed on May 22, 2019
    • HDFC Limited Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan through HDFC LTD which i have directly applied with bank The .rate of interest and the processing fee was nominal .I have applied for the loan amount of 25lakhs for the tenure of 12years ,still loan is active ,The agent gave all the information about the loan process .
      Was this review helpful? 1
      , bangalore
      Reviewed on May 21, 2019
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in HDFC LTD. The process was done on smooth and received a loan amount 12 lakhs for the duration of 10years. The rate of interest and processing fee is nominal in this bank.The good which I would like to share is documentation process was done on easy.
      Was this review helpful? 1
      , chennai
      Reviewed on May 21, 2019
    • review Home Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I had taken my Home loan from GIC HOUSING FINANCE LTD and the process in getting the loan was pretty much simple where it just took two weeks for the disbursement of the loan amount. The interest rate with them is also pretty good but after getting loan the response from their end has not been that good. They don't have a mobile application or a website to do things online.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 21, 2019
    • HDFC Limited Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in HDFC bank for more than a year. As per my expectation I received a loan amount for the duration of 15 years. The customer service is good and support on time. The rate of interest is good and low when compare to other bank. The fee also applicable and nominal.
      Was this review helpful? 0
      , indore
      Reviewed on May 21, 2019
    • review Home Loan
      "Need to decrease charges"
      0.5 3.0/5 "Satisfactory"
      I am using the home loan with GIC HOUSING FINANCE LTD since from last last year, as per my expectation I received a loan amount for the duration of 24 years. The rate of interest is high when compare to other.The fee is nominal. On time I received a loan amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • ASPIRE HOME FINANCE CORPORATION LIMITED Home Loan
      "Best Service"
      0.5 2.0/5 "Expected more"
      I have taken Home loan through Aspire Home Finance corportation Limited .I have applied for the loan amount of 4 lakh for the tenure of 10years ,The rate of interest and processing fee was high ,loan amount got sanctioned on time it was sufficient,The agent gave all the relevant details and also submitted documents on time .
      Was this review helpful? 0
      , thane
      Reviewed on May 20, 2019
    • HDFC Limited Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan through HDFC Ltd through Online .The service is good so far i have taken the loan amount of 50lakhs for the tenure is 30yearrs ,still the loan is active ,The rate of interest and processing fee was nominal ,I have submitted documents and the agent gave all information about the loan process .The agent was good ,loan amount got on time,it was sufficient as welll.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2019
    • LIC Housing Home Loan
      "Percentage should be reduced"
      0.5 3.0/5 "Satisfactory"
      I have housing loan from LIC, as per my experience the interest rate is huge as compared to others. In 2014 I took the loan amount around Rs 30 lakhs, the agent came to my place and completed the documentation process, it would be if they reduce the interest.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 20, 2019
    • DHFL Home Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      Taken my housing loan from DHFL. So far i never had a chance to speak with their call centre people. When i had sanctioned my loan the interest was 10.35% which is a floating interest rate. They have charged me some processing fee. Total tenure period of the loan is 20 years. Within a month, they have sanctioned the loan. Initially, sanctioned the loan was a quick enough but disbursing the amount is took some time. The loan is easy to get sanctioned.
      Was this review helpful? 0
      , thane
      Reviewed on May 20, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my housing loan with HDFC LIMITED a while ago, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was sufficient, the processing fee they have charged me up to 8000 which was minimal, still this loan is running, so far i did not face any issue.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 20, 2019
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