Home Loan - Compare & Apply Housing Loan Online up to Rs. 10 Crore
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Home Loan - Avail home loans up to Rs.10 crore with interest starting from 7.10% p.a., processing fee from 0.5%, and repayment tenure up to 30 years through BankBazaar.
What is a Home Loan?
A home loan is a secured loan offered by banks and Housing Finance Companies (HFCs). It helps individuals to purchase, construct, renovate, repair, or extend a residential property. The property financed through the loan serves as collateral and remains with the lender until the loan is fully repaid. The lender has the legal right to take possession of the property, If the borrower fails to repay the loan.
Bank Name | Interest Rate | Processing Fee | Loan Amount/Tenure | |
 | 7.25% p.a. to 10.50% p.a. | 0.35% of the loan amount (Minimum Rs.3000 + GST to a Maximum of Rs.12,000 + GST) | Loan Amount: At bank’s discretion Tenure: Up to 30 years | |
 | 7.75% p.a. to 13.20% p.a. | Up to 0.50% of loan amount or minimum of Rs.4,000 + GST | Loan Amount: At bank’s discretion Tenure: Up to 30 years | |
 | 7.15% p.a. onwards (floating) 11.40% p.a. onwards (fixed) | 0.50% of the loan amount up to a maximum of Rs.15,000 + GST | Loan Amount: Contact the bank Tenure: Up to 30 years | |
 | 7.20% p.a. onwards | 0.35% of the loan amount, subject to a minimum of Rs.2,500 up to Rs.15,000 | Loan Amount: Up to Rs.100 lakhs Repayment Tenure: Up to 30 years | |
 | Floating: 7.75% Fixed: 14.75% | Contact the Bank | Loan Amount: Up to 90% of property value Tenure: Up to 30 years | |
 | 7.15% p.a. onwards | 0.25% of the loan amount for loans up to Rs. 1crore, subject to a maximum of Rs. 15,000 plus taxes | Loan Amount: At bank’s discretion Tenure: Up to 30 years | |
 | 8.00% p.a. onwards (floating) 14.00% p.a. (fixed) | Up to 1% of the loan amount or Rs.10,000 (whichever is higher) + GST (if applicable) | Loan Amount: Rs. 3 lakhs to Rs. 10 crores Tenure: Up to 30 years | |
 | Contact the bank | Contact the NBFC | Loan Amount: Rs.15 lakh onwards | |
 | 7.30% p.a. (floating) | 0.25% of loan amount (for KBL Xpress Home loan for loan amount Rs.75 lakh: Nil) | Loan Amount: Up to Rs. 5Crs Tenure: 1-30 Years | |
 | 8.85% p.a. | Up to 3% of the loan amount (Processing Fee) | Loan Amount: As per the property value Tenure: Up to 30 years | |
 | 7.20% p.a. onwards (floating) 8.90% p.a. onwards (fixed) | Minimum: Rs.8,500 Maximum Rs.: 25,000 | Loan Amount: Rs. 1 lakh up to Rs.10 crores Tenure: Up to 30 years | |
 | 7.15% p.a. onwards | 0.50% (Minimum Rs.1500 + GST up to Maximum Rs.10,000 + GST) | Loan Amount: No upper limit on quantum of loan Tenure: Contact the Bank | |
 | 7.70% p.a. onwards (floating) 12.00% p.a. (fixed) | Up to 2% of the loan amount + GST | Loan Amount: Up to Rs. 40 crores Tenure: Up to 25 years | |
 | 8.70% p.a. | Up to Rs.10,000 | Loan Amount: Up to Rs.5 crore Tenure: Up to 25 years 1 - 25 Years | |
 | Contact the Bank | Contact the Bank | Contact the Bank | |
 | 7.15% p.a. onwards | Up to 0.25% of loan amount, subject to a maximum of Rs.25,000 | Loan Amount: At bank’s discretion Tenure: Up to 30 years | |
7.30% p.a. onwards (floating) | 0.50% of the limit sanctioned w Minimum: Rs.10,000 Maximum: Rs.2 lakh | Loan amount: Up to Rs.15 crore Tenure: 30 years |
Note: The rate of interest listed above is updated on 6 March 2026 and is subject to change at the discretion of the bank.
Top Housing Loan Schemes & Offers
Kotak Mahindra Bank - Best for Low-Interest Rate
- Low-interest rates start from 7.70% p.a. onwards for salaried and self-employed individuals, respectively.
- Processing fee of up to 2% of the loan amount
- Loans up to Rs. 40 crores
- Loan tenure of up to 25 years
- Zero prepayment charges
- Balance transfer with top-up loan available
Canara Bank Housing Loan - Best Interest Rate for Women
- Interest rate starts from 7.15% p.a. onwards
- Zero prepayment charges
- Minimal processing fees
- Reducing balance interest rate
Axis Bank Home Loan - Best Interest Rate for Salaried Employees
- Low-interest rates starting from 8.00% p.a. onwards (floating) and 14.00% p.a. (fixed)
- Loan amounts ranging from Rs.3 lakh up to Rs. 10 crores
- Maximum repayment tenure of 30 years
- Processing fee of up to 1% of the loan amount, subject to a minimum of Rs.10,000
- No prepayment/foreclosure charges
HDFC Home Loans for self-employed or salaried professionals
- Interest rates start from 7.75% p.a. to 13.20% p.a.
- Flexible repayment tenure of up to 30 years
- Processing fee is up to 0.50% of the loan amount, subject to a minimum of Rs.4,000
SBI Privilege Home Loan for Government Employees
- Zero processing fee
- Loan tenure of up to 30 years
- Reduced interest rates for women borrowers
- Interest concession when checkoff is provided
PNB Housing Home Loan
- Interest rate starting from 7.75% p.a. (floating) and 14.75% p.a. (fixed)
- Low processing fee
- Loan tenure up to 30 years
SBI Smart Home Top-Up Loan - Best Top Up home loan
- Interest rates starting from 7.75% p.a. to 10.50% p.a.
- Processing fee of Rs.2,000 + GST (Minimum) to Rs.10,000 + GST (Maximum)
- Overdraft facility for loans above Rs.20 lakh
- Loan tenure of up to 30 years
- No prepayment penalty
Union Awas Home Loan - Best for Low Credit Score
- The interest rate starts at 7.15% p.a.
- Moratorium period of up to 3 years for construction or purchase of a home
- Loan tenure of up to 30 years
- No limit on amount of loan in case of purchase or construction
- Eligibility criteria for loan depends on the borrower’s repayment capacity and property value
Punjab National Bank - Best for Low-Interest Rate
- Interest rates start at 7.75% p.a. (floating) and 14.75% p.a. (fixed) onwards
- Processing fee of up to 0.35% of the loan amount
- Loan tenure of up to 30 years
- Up to Rs.100 lakh may be provided as a loan
- Plot loans are offered as well
How a Home Loan Works?
The details about how a home loan works are given below:
- A home loan is approved based on the applicant’s credit score, income, and repayment capacity.
- Before approving the loan, lenders also evaluate the property’s value and legal status .
- Usually, 75% to 90% of the property value is sanctioned as the loan amount.
- At the time of application, borrowers can either choose fixed or floating interest rates.
- Depending on whether the property is ready or under construction, the loan amount is disbursed either in full or in stages.
- Repayment is made through EMIs consisting of both principal and interest components.
- Until the loan is fully repaid, the property documents remain with the lender.
- Once the loan is repaid completely, the lender closes the loan account.
- The property documents are returned by the lender along with loan closure documents.
- Successfully closing a home loan can positively impact and improve your credit score.
Features and Benefits of a Home Loan
The key features and benefits of a home loan are mentioned below:
- Enable early home ownership without waiting to accumulate the full purchase amount, while also preserving your savings for other financial goals.
- Better financial planning: You can spread the cost over time by paying manageable EMIs, instead of using all your savings upfront.
- Longer repayment tenure: Home loans offer repayment periods of up to 30 years, resulting in lower and more affordable EMIs compared to other loans.
- Lower interest rates: Interest rates on home loans are significantly lower than personal loans, and some lenders also offer special concessions for women applicants.
- Tax benefits: Borrowers can claim deductions on principal (up to Rs.1.5 lakh under Section 80C) and interest (up to Rs.2 lakh under Section 24(b)), subject to applicable tax rules.
- No or minimal prepayment charges: On floating rate home loans, most lenders do not charge prepayment or foreclosure fees, while certain charges are waived off under certain conditions on fixed-rate loans.
Home Loan Interest Rates
The details about the home loan interest rates are mentioned below:
- Interest rate factors: Home loan interest rates depend on factors, such as credit score, loan amount, income, LTV ratio, job profile, and employer profile.
- High overall interest cost: The total interest paid can often exceed the principal amount due to large loan amounts and long repayment tenures.
- Importance of low rates: Applicants should always aim to secure the lowest possible rate based on their credit profile, as it impacts the total borrowing cost
Charges Related to Home Loan
The fees and charges related to home loan are mentioned in the table below:
Fees and charges | Amount |
Processing fee | 1% to 2% of the loan amount |
EMI Overdue Charges | 2% per month of the unpaid EMI |
EMI Bounce Charges | Approximately Rs.400 |
Foreclosure or Prepayment Charges | Floating Rate: NilFixed Rate: Approximately 2% to 4% on the principal outstanding |
Legal Fee | As per actuals |
Eligibility Criteria of a Home Loan
The eligibility criteria that must be fulfilled by the home loan applicant are listed below:
- Age criteria: Minimum and maximum age criteria are 18–21 years and up to 70–75 years at loan maturity, respectively.
- Income requirement: Minimum salary for salaried and self-employed individuals should be approximately Rs.25,000 per month, and more than Rs.30,000 monthly, respectively. The minimum income requirement may vary depending on the lenders.
- Credit score: A score of 730 or above is preferred, higher the scores, better interest rates and offers applicants can get.
- Employment type: Both salaried and self-employed individuals are eligible.
- Existing EMIs: Lenders prefer a DTI ratio below 50–55%, as higher ratios may lead to stricter terms and higher rates.
- Property documents: Proper documentation ensures faster approval and higher eligibility.
- Eligible applicants: Includes Indian residents, NRIs (Non-Resident Indias), and PIOs (Person of Indian Origin).
- Loan amount: Up to 90% of the property value can be sanctioned.
Documents Required for a Home Loan
The documents need to be submitted to apply for a home loan are mentioned below:
- Purpose of documents: Required to verify the identity, address, income, and repayment capacity of the applicant.
- Identity proof: Aadhaar card, passport, PAN card, voter ID, or driving licence.
- Address proof: Bank passbook, voter ID, ration card, utility bills, passport, or LIC receipt.
- Income proof (salaried): Salary slips, Form 16, and ITR (Income Tax Return) of the last three years.
- Income proof (self-employed): Business details, address proof, ITR (last three years), and financial statements.
- Property documents: Sale deed, approved building plan, allotment letter, NOC (No Objection Certificate), and construction cost estimate.
- Other documents: Previous loan statements (last one year), if applicable.
Process to Apply for a Home Loan
The process that must be followed to apply for a home loan is mentioned below:
- Ensure that the applicant meets the eligibility criteria to avail a home loan. By checking check on the lender’s official website about the eligibility criteria. Basic details such as your name, date of birth, employment details, income details, etc., will need to be provided to check the eligibility criteria.
- Basic details such as your name, date of birth, employment details, income details, etc., will need to be provided to check the eligibility criteria.
- Select the lender and the loan amount.
- Choose the loan repayment tenure.
- Submit the required documents online on the lender’s website.
- Submit the loan application form.
- Lender approves the application once verified.
- The loan amount is disbursed on agreed terms upon loan approval.
Types of Home Loans in India
Banks in India provide different types of housing finance options for various purposes. Here’s a list of the prominent types of housing loans in India based on a study of products offered by some of the top banks:
- New Home Loans - New Home Loans are offered to eligible customers looking to purchase a house or property for the first time.
- Pre-Approved Home Loan - Banks offer pre-approved home loans to eligible borrowers once their creditworthiness, income and financial position are considered considerable for an in-principal approval of the loan.
- Home Purchase Loans - Home purchase loans are given explicitly to borrowers looking to purchase a house or flat.
- Home Loan for Construction - A home loan is offered to customers looking to construct their own house on existing land.
- Plot Loans - Plot loans are offered to customers looking to purchase a piece of land or plot to construct a house.
- Home Loan Top Up - Home Loan Top Up is a facility offered by most banks and NBFCs that allows existing customers to borrow a certain amount above and over the existing home loan.
- Home Extension/Renovation Loans - Home loans for the extension or renovation of homes are offered to borrowers who wish to renovate/extend their existing house/property.
- Balance Transfer Home Loan - Individuals can use the balance transfer option to transfer their home loan from one bank to another. Most people choose this option to avail themselves of better interest rates.
- Home Conversion Loan - Suitable for those looking to purchase and move to another property when they have already bought a house with a home loan.
- Home Improvement Loan - These loans are sanctioned to those looking to repair/improve/renovate an already existing property.
- Home Loans for NRIs - These home loans cater to the housing needs of NRIs in the country. They also include PIOs and OCIs.
Before you Apply for a Home Loan
 | Check Home Loan EMI Calculator Our EMI calculator helps you calculate the amount you have to pay the bank every month. Input your loan amount, tenure, interest rate, and processing fee to get your EMI and loan amortisation details. |
 | Current Home Loan Interest Rates Interest rates are the charges a lender will levy on you for borrowing a certain amount over a specific period. They directly impact your EMI. These rates will differ from one lender to another. |
 | Check Home Loan Processing Fees This fee is charged by banks for processing your loan application. It is non-refundable and is charged before disbursal. It’s calculated either as a percentage of the loan amount or is a fixed amount. |
 | Each bank has specific parameters, based on which they approve a property loan for you. These include age, income, employment status, where you work, what builder you’re buying a house from, etc. |
 | Check Documents Required for Home Loan For the housing loan to be sanctioned, you’ll have to provide your identity proof and address proof, income documents such as ITR and payslips, bank statements, and proof of house purchase. |
 | Pradhan Mantri Awas Yojana (PMAY) Pradhan Mantri Awas Yojana (PMAY) is a Government of India initiative under the government provides an interest subsidy of 6.5% on housing loans availed by the beneficiaries. |
What are the Main Reasons for Home Loan Rejection?
The main reasons of home loan rejections are mentioned below:
- Low credit score: Poor credit history increases the chance of loan rejection.
- Low repayment capacity: Eligibility reduces if total EMIs exceed 50% to 55% of monthly income.
- Property-related issues: Legal disputes, unclear title, poor condition, or lack of approvals can lead to loan rejection.
- Multiple loan applications: Frequent hard enquiries can lower your credit score and hurt approval chances.
- Ineligible occupation profile: Applicants with non-preferred jobs or employers may face rejection.
Home Loan Rejection
Do's | Don't |
Ensure that you have researched on the loan you want to apply for | Do not blindly sign the documents before you read every term and condition on it |
Read the fine print before taking the loan | Do not forget to compare interest rates offered by different loan providers |
Look out for any charges applicable on prepayments and foreclosure | Do not default on your monthly payments |
Make sure you pay the equated monthly instalments (EMIs) on time | Do not apply for a loan just for the sake of it |
Ensure that you have a good credit score before you apply | Do not sign the home loan agreement before reading the clauses |
Apply for a loan amount you are eligible for | Do not request for a change in tenure unless you have considered all the aspects |
Submit all the necessary documents | Do not submit an incomplete or mismatched loan application |
Ensure that you have stable employment | Do not have too many ongoing loans |
Tips to Improve Chances of Availing a Home Loan
Some of the tips that can be followed to improve the chances of availing a home loan are mentioned below:
- Pay bills on time, avoid defaults, and keep credit utilization low.
- Higher income boosts repayment capacity and loan eligibility.
- Reduce your debt-to-income (DTI) ratio by clearing credit cards, personal loans, and other liabilities.
- More the down payment amount lesser would be the loan amount and default risk.
- Lower EMIs improve eligibility, but total interest will be higher.
- Borrow a smaller percentage of the property value to improve chances.
- Maintain stable employment, as lenders prefer applicants with a steady job or business history.
- Paying off current loans lowers DTI and enhances eligibility.
- Keep total EMIs below 50–55% of your income to improve approval chances.
- Avoid multiple applications in a short period to protect your credit score.
- Choose a clear property that has no legal disputes, clear title, and proper approvals.
- Provide all income proofs like salary slips, ITR, and financial statements for smoother approval.
Fixed Rate vs. Floating Rate
Fixed Rate
Under a fixed rate loan, the interest rate will not change throughout the tenure. Therefore, you will know the EMI that must be paid every month. This can help in financial planning. However, the interest rate under such loans may be slightly higher than floating rate loans.
Floating Rate
Under a floating rate loan, the interest rate will depend on the market. Any benchmark rate change will also lead to a change in the interest rate. Interest rates on such loans are revised periodically and will depend on when the loan was disbursed.
FAQs on Home Loans
- What is a home loan?
A home loan is a secured loan from a financial institution to buy a residential property. You can avail a home loan to buy a ready-to-move-in house, apartment, or one under construction. Home loans can be availed from both banks and Non-Banking Financial Companies (NBFCs).
- How long does it take to get a home loan sanctioned?
Usually, it takes 3 to 4 weeks to get a home loan sanctioned.
- Can I avail tax deductions on my home loan?
Yes, you can avail tax benefits on both the interest and principal component paid against your home loan. As per Section 80C of the Income Tax Act, you can avail deductions up to Rs.1.50 lakh on the principal amount repaid annually. Under Section 24 of the IT Act, taxpayers are also eligible for benefits up to Rs.2 lakh on the interest repaid against a home loan annually.
- Who can be a co-applicant?
The co-applicant can be an immediate family member such as your spouse, your parents or even your major children.
- What is Pre-EMI?
Pre-EMI is the interest paid until the entire loan amount is disbursed, after which regular EMIs, comprising principal and interest, apply.
- Can I switch from a fixed rate to a floating rate during my home loan tenure?
Yes, you can switch from a fixed to floating rate of interest on your home loan during the repayment tenure. However, you will be charged a conversion fee by the lender in such cases.
- When does my loan repayment period begin?
The loan repayment period begins only after the loan provider has disbursed the entire home loan amount. However, you will be required to pay the interest i.e. pre-EMI on the partially disbursed loan on a monthly basis, in most cases.
- Can I take 2 home loans at the same time?
Yes, you can take 2 home loans at the same time provided that your lender approves your eligibility to manage 2 Equated Monthly Instalments (EMIs) at the same time. However, the tax benefits on the second house will be different and you will be required to establish the property as self-occupied or let-out property.
- Can I get 100% financing on a home loan?
No. Banks/financial institution do not grant 100% of the property value as home loan. Home loan lenders establish a margin on their loan i.e. the percentage of the cost that the lending institution will be covering.
- Does having a personal loan affect home loan eligibility?
When determining your home loan eligibility, the lender makes sure that your monthly repayments are not being affected by any other ongoing loans such as personal loan, two-wheeler loan, etc.
- Can I apply for a joint home loan with my friend?
No, you cannot apply for a joint home loan with your friend. Joint loan application is permitted with only immediate family members who can be co-applicants for a joint home loan.
- Who can be joint borrowers for a home loan?
Immediate family members, such as parents, spouses, and children can be joint borrowers for a home loan.
- What is the maximum number of joint borrowers allowed?
Up to six family members can be co-borrowers for a home loan, provided they meet lender criteria.
- What is a floating rate home loan?
It is a loan where the interest rate changes periodically based on market conditions, which eventually affects the EMI.
- What is a fixed rate home loan?
It is a loan where the interest rate remains constant throughout the tenure, keeping EMIs unchanged.
- Can I switch between floating and fixed interest rates?
Yes, you can switch between floating and fixed interest rates, as some lenders allow this facility which usually comes with applicable charges.
- Is prepayment of a home loan allowed?
Yes, you can prepay your loan before tenure completion, though some lenders may charge a small penalty.
News about Home Loan
RBI raises FY26 GDP forecast to 7.3%
The Reserve Bank of India announced its monetary policy on 5 December 2025. The six-member Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, cut the repo rate by 25 points from 5.50% to 5.25%. The RBI also raised its GDP growth forecast for FY26 from 6.8% to 7.3% and lowered the inflation forecast from 2.6% to 2%. To help banks have enough funds to lend, the RBI will buy government bonds worth rs.1 lakh crore and carry out a three-year USD/INR swap of $5 billion in December. The decision comes at a time of strong economic growth, low inflation, and the rupee trading near 90 per US dollar. With this, the total repo rate cuts in 2025 reach 125 points.
RBI to eliminate prepayment charges on floating‑rate home loans from 1 Jan 2026
From 1 January 2026, the Reserve Bank of India (RBI) has mandated that all floating‑rate home loans sanctioned or renewed on or after this date will have no prepayment charges. The aim is to empower borrowers to repay fully or partially, regardless of the source of funds, without penalty and with no lock‑in. This applies to loans for individuals and micro & small enterprises (MSEs), as per RBI’s directive to banks and NBFCs. Lenders must clearly mention this benefit in sanction letters, loan agreements, and the Key Facts Statement.
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