You can avail a home loan from banks or a non-banking finance companies (NBFCs). Housing Finance Companies (HFCs) are a part of NBFCs. You can choose between a bank or an HFC by comparing tenure, interest rate, and processing fees offered by them. Let’s take a look at some of the top housing finance companies in the country.
HDFC Housing Finance offers different types of home loan products such as plot loan, rural housing loan, home improvement loan, and home extension loan among others. The interest rates for home loan starts from 8.55%. The home loan schemes are available for salaries and self-employed resident Indians in the range of 18-65 years.
|Loan Amount||Interest Rates (p.a.)|
|For Women (up to 30 Lakhs)||8.55% - 9.05%|
|For Others (up to 30 Lakhs)||8.60% - 9.10%|
|For Women (30.01 Lakhs to 75 Lakhs)||8.80% - 9.30%|
|For Others (30.01 Lakhs to 75 Lakhs)||8.85% - 9.35%|
|For Women (75.01 Lakhs & Above)||8.85% - 9.35%|
|For Others (75.01 Lakhs & Above)||8.90% - 9.40%|
LIC Housing Finance offers home loans at attractive interest rates for Indian residents, Non-Resident Indians (NRIs), and pensioners. You can avail loan for purchase, construction, extension, house repair, plot purchase, and top up loan. LIC Housing Finance offers benefits such as flexible repayment periods, quick loan processing, zero processing fee, zero pre-closure charges, and no partial pre-payment charges.
Indiabulls Housing offers instant home loan approvals at competitive interest rates for a tenure of up to 30 years. It offers benefits such as zero pre-payment charges, flexible tenure options, and zero pre-closure, among others. The interest rate ranges from 8.80% to 12.00% p.a. The processing fee is 0.50% to 1% of the loan amount.
ICICI Home Finance offers attractive interest rates for home loan. You can avail different types of home loan products such as home improvement loan, land loan, office premises loan, EMI under construction, top-up loan etc. The bank offers home loan in the range of Rs.3 lakh to Rs.5 crore. The processing fee is 0.50% to 1% of the loan amount.
|Type of Loan||Interest Rates (p.a.)|
|Housing Loan||8.43% - 14.50%|
|Non-housing loan||9.00% - 14.45%|
L&T Housing Finance offers home loan at attractive interest rates for construction, house improvement, and house extension. The loan repayment tenure is up to 20 years and the amount ranges from Rs.3 lakh to Rs.10 crore. You can avail home loans up to 90% the property value. L&T Housing Finance offers benefits such as quick and transparent loan processing, instant online loan approval, attractive interest rates, minimal documentation, multiple repayment options, and zero pre-payment charges.
PNB Housing Finance offers home loan at competitive interest rate for resident Indians as well as non-resident Indians. It offers home loans under different schemes that are aimed at government employees, general public, and others.
|Loan Amount||Interest Rate for Salaried/ Self-Employed||Interest Rate for Businessmen|
|Up to Rs.35 lakh||9.05% – 11.25%||9.15% – 12.50%|
|Above Rs.35 lakh up to Rs.75 lakh||9.10% – 11.25%||9.20% – 12.50%|
|Above Rs.75 lakh||9.20% – 11.25%||9.30% – 12.50%|
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