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
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the home loan with the LIC HOUSING FINANCE since from last 2 years the loan amount given was satisfactory also the documentation process was simple and easy to get the loan with this bank. the rate of interest was nominal which is satisfactory in this loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 19, 2019
    • United Bank Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The documentation process was simple and easy to get the home loan with the UNITED BANK OF INDIA. The loan amount was good and the rate of interest was 10% which was fixed and now changed into flexible rate of interest was applicable which is higher.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • Indian Bank Home Loan
      "BAD CUSTOMER SUPPORT"
      0.5 2.5/5 "Just OK"
      The customer support is not good, the documentation process was not easy it took time get the loan. The approval also it took time to get the loan. The loan amount was good, rate of interest was higher than others, there was a processing fee with this loan.
      Was this review helpful? 0
      , thane
      Reviewed on May 19, 2019
    • DHFL Home Loan
      "BETTER"
      0.5 3.0/5 "Satisfactory"
      I have applied for the home loan with the DHFL and the rate of interest was higher with this loan also it is a floating where the rate of interest was increase higher within 6 months. The documentation process was not good and it took to get the loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2019
    • HDFC Limited Home Loan
      "Good bank to apply for home laon"
      0.5 4.0/5 "Great!"
      I have taken a home loan in HDFC LTD before 3 months ago. The process was done on smooth and received a loan amount as per my expectation for the duration of 15 years. 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? 0
      , chennai
      Reviewed on May 18, 2019
    • Canara Bank Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home Loan directly with CANARA bank past 5 years. I received the loan amount as per my expectation for the tenure of 17 years ,still the loan is on process,I have got the loan amount on time without any delay. At a verification process was good and smooth. The rate of interest and processing fee is nominal.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 18, 2019
    • ICICI Bank Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I had applied for a Home loan with ICICI BANK at the time when i was looking for Home loan. There was no delay in my application and it took few days to get things done. The interest rates to be nominal . The loan amount which they gave was satisfactory .
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 18, 2019
    • Axis Bank Home Loan
      "BETTER"
      0.5 3.5/5 "Pretty good"
      I have applied for the home loan with the HOME LOAN with the AXIS BANK where th banking process was good get the loan the documentation process was simple and easy to get the loan. The rate of interest was nominal also the loan amount given was good.
      Was this review helpful? 1
      , kolkata
      Reviewed on May 17, 2019
    • DHFL Home Loan
      "Interest rate shoud be reasonable"
      0.5 3.0/5 "Satisfactory"
      In DHFL the housing loan interest is currently 10.30% for the loan amount of Rs. 40 lakhs . I took for the duration of 25 years, initially they gave me 9.4% of interest now they revised higher as per the RBI norms. When I apply for the loan I have to run behind them, the process was not smooth.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 17, 2019
    • L&T Housing Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have been taken a home loan in L&T FINANCE LIMITED for the past 2 to 3 months. The loan amount was sufficient as per my expectation for the duration of 30 years. The rate of interest is nominal.The customer service is good and responsiveness on time.
      Was this review helpful? 1
      , pune
      Reviewed on May 17, 2019
    • ICICI Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken my Home loan from ICICI Bank a long time back where the experience i had was quite comfortable. They did not took much time for the process, and the disbursement was made on the right time. The loan amount has been fine, the interest rate has been quite nominal and they had not made any sort of additional charges. Overall it had been quite a good experience.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 17, 2019
    • Punjab National Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken my Home loan from PNB HOUSING FINANCE LIMITED a while back and the process in getting the loan was pretty much easy. The loan amount has been sufficient and the interest rate which they had made has been nominal, the processing fee and charges where not high and there has not been any issues faced with their services.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 17, 2019
    • Allahabad Bank Home Loan
      "Need improvement on the customer support"
      0.5 5.0/5 "Blown Away!"
      I took home loan from ALLAHABAD BANK they gave me lowest interest in the market, it was around 8.7% for the loan amount of Rs.33.5 lakhs for the duration of 25 years., the process was easy but the customer support is not that great they need improvement on that part.
      Was this review helpful? 0
      , noida
      Reviewed on May 17, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for more than a year. As per my expectation I got the loan amount for the duration of 20 years. The rate of interest is nominal. Fee charges was applicable. The customer service is good and responsiveness on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2019
    • LIC Housing Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have directly applied with LIC Housing Finance Ltd Home ,rate of interest and the processing fee was nominal .I have applied for the loan amount of 30lakhs for the tenure of 15years ,still the loan is on process .I have got the loan amount sanctioned on time ,it was sufficient ,the agent gave all the information about the housing loan ,started paying and completed 3years so far .
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2019
    • HDFC Limited Home Loan
      "Processing should be reduced"
      0.5 4.0/5 "Great!"
      They took lots of processing fee from HDFC home loan from my end, I availed Rs. 36 lakhs and they charged me Rs.30,000 processing fee. I got all the information through online. HDFC limited has balance transfer option, it was quickly processed.
      Was this review helpful? 0
      , pune
      Reviewed on May 16, 2019
    • SBI Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      My home loan is running with SBI, the interest rate is very low but they gave me longer duration. I took the amount Rs.17 lakhs for duration of 20 years, the process fee was nominal around Rs.10,000 including insurance fee. The documentation are very simple, bank staff gave me nice response as well.
      Was this review helpful? 0
      , vadodara
      Reviewed on May 16, 2019
    • ICICI Bank Home Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken my Home loan from ICICI Bank a while back and the process in getting this loan has been pretty much simple. The loan amount has been sufficient and the interest rate has been nominal as well. The loan is still running and the they had not taken any sort of additional charges so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2019
    • Bank Bazaar Home Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      Thanks to Bank Bazaar Team . I am using bank bazaar site last few years. My experience is very good about Bank Bazaar.The process was good and overall am satisfactory. It gives better idea about interest rate on online comparison..........
      Was this review helpful? 0
      , chandigarh
      Reviewed on May 16, 2019
    • IDBI Home Loan
      "Need overall improvement"
      0.5 2.0/5 "Expected more"
      I have housing loan in IDBI, the interest rate was very higher around 9.1% but still its floating if we see other bank they are charging only 8.7% , I took Rs.30 lakhs for the duration of 20 years, they taken insurance fee and processing fee. The customer support is not transparent, the interface is very difficult to understand.
      Was this review helpful? 1
      , coimbatore
      Reviewed on May 16, 2019
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