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  • Indore Home Loan

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  • As the most populous city in of one of the largest states in the country, Indore has a number of people who live and work there. The city is also popular as a location for higher education and it has also become a popular tourist destination over the years. As of the 2011 population census, the city had a population of close to 20 lakh.

    There are a number of people who wish to buy housing property in the city and these people are covered by banks and NBFCs that offer them loans for the same. Here are details of which institutions offer the same and what other details need to be noted before applying for a loan.

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    We found 38 Indore Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.70% - 9.30% Floating
    0% - 0.50% + Applicable Taxes One time fee
    5L - 10Crs
    3-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    9.0% - 9.50% Floating
    Up to 0.50% (min. ₹10,000 + GST) One time fee
    8L Min
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.80%- 9.20% Floating
    12,000 (inclusive of GST) One-Time Fee
    20L - 5Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.95% - 9.15% Floating
    10000+GST One time fee
    -
    1-20 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.55% - 8.90% Floating
    Up to 0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.75% - 11.0% Floating
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.80% - 8.95% Floating
    0.50% PF (For Salaried) to 1%(min.3000)+Tax (for Self employed)
    12L - 5Crs
    1-20 Years (10 yrs plot loan)
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good To Know
    8.80% - 11.75% Fixed/Floating
    0.50% (min. ₹10,000) One time fee
    5L - 10Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    9% Floating
    ₹ 10000+ taxes One time fee
    50L - 5Crs
    1 - 25 Years
    What you'll love
    Documents
    Perks
    Good to Know
    8.55% - 8.99% Floating
    ₹5,000 to ₹10,000 + applicable tax One time fee
    20L - 10Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Think about
    Good to Know
    9.25% Floating
    0.50% (min. ₹10,000)
    1Cr - 5Crs
    1-20 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    9.25% - 11.20% FIXED
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    Top Banks and NBFCs for Home Loan options in Indore

    Indore is one of the many cities in which it is easier, relatively speaking, to get a loan for financing activities related to property purchase, expansion, and so on. The table below lists a few of those institutions:

    Banks NBFCs
    PNBHFL Indiabulls
    Karnataka Bank Sundaram BNP Paribas Home Finance
    Kotak Mahindra Bank Aditya Birla Capital
    HDFC Limited  
    SBI Bank  
    ICICI Bank  
    Axis Bank  
    IDFC  
    DBS Home  

    Home Loan Eligibility

    As with all loan amount disbursements, there are certain criteria that a person needs to fulfil in order to be considered eligible to receive the loan. Here are some of the generic criteria for the same:

    ? While not all home financing institutions allow it, the minimum age required to apply for a home loan is 18 years. The age limit can sometimes be 21 years also. Again, with the maximum age limited, it can vary from 65 years to 70 years of age. This depends on the institution that will be granting the loan.

    ? While the person applying for a loan can either be self-employed or employed by a business, the annual net income should be over Rs.5 lakh.

    ? Credit ratings matter. A good credit rating is necessary to be able to obtain a loan.

    ? While it does not matter if the person applying for the loan owns their current place of residence or not, as long as they have resided there for a year prior to applying for the loan.

    ? While the institution will fund a maximum of close to 80% of the total amount required for purchase/expansion/renovation of a given property, it is the responsibility of the applicant to raise the rest of the amount required for the same.

    Home Loan Documentation

    Home loans are typically obtained for high amounts. This requires proper verification before disbursement and for this purpose, KYC documents are mandatory. Here are details of what kind of documents are likely to be required:

    Type of documentation Purpose Permitted documents
    Identity proof This is to provide a photographic identity and to provide a proof for the given address
    • Voter ID
    • Passport that is current
    • Driving license that is current
    • Aadhaar Card
    Income proof This is to serve as proof of income which indicates that the loan applicant can meet their obligations
    • Salary slips of the past three months and an Income Tax Return are required for a person employed by a business
    • In case of self-employment of the applicant, Income Tax Returns for the previous 3 years and the income computation for those three years along with a balance sheet mentioning profit and loss, audited by a registered CA
    Loan application form To serve as a request for a loan application
    • The form should be duly filled and should contain the applicant’s photograph and their signature
    Other documents To serve as additional proof for the institution granting the loan
    • A cheque for the processing fee amount
    • If there are loans being repaid presently, details of those should be provided using a bank statement of the account used for the same
    • The loan applicant and co-applicant should provide their photographs

    Types of Home Loans in Indore

    Home loans can be offered for a variety of purposes, not just for buying a house. The purpose could be purchase, or renovation, or expansion. Some of these reasons and the loans that are granted for the same are stated in the table given below:

    Home Loan type/purpose Details
    Loan for new or pre-owned property You can avail this if you want to buy property which could either be new or pre-owned.
    Loan for construction of property You can avail this loan if you want to construct a house or building on property that you already own.
    Loan for property expansion You can avail this loan if you wish to increase the size of your house or property.
    Loan for home improvement/renovation You can avail this loan if you want to redesign, or redecorate, or renovate your property.
    Loan for NRIs You can avail this loan if you are an Indian citizen residing in a different country and want to buy or own property in India.

    A home conversion loan is also an option that people have when it comes to home loans. It is also possible to get the benefit of a home loan balance transfer in order to acquire the benefits of a lowered interest rate.


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    Indore Home Loan Reviews

    • Axis Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in AXIS bank before 3 years ago, which was processed directly to bank, within 2 days loan got sanctioned from bank for the sufficient amount direction of 14 years. The rate of interest and the processing fee are nominal. I have done extra part payment twice within certain years so that they have reduced to tenure from 20 to 14 years.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 03, 2019
    • HDFC Limited
      Bank Bazaar Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I came to know about Bankbazaar from a website. It has been more than 3 months I have been using Bankbazaar's website. Their customer service is good. I always check my credit score on their website. Website and mobile application are user friendly. Over their service is really good.
      Was this review helpful? 0
      , indore
      Reviewed on Jul 01, 2019
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have applied for a home loan from HDFC LTD. I have temporarily closed the loan as I have not found a house yet. HDFC Bank's customer service is really good and verification process is hassle free. Loan amount is sufficient and rate of interest is very high.
      Was this review helpful? 0
      , indore
      Reviewed on Jul 01, 2019
    • Bank Bazaar Home Loan
      "Very good for layman's"
      0.5 4.5/5 "Excellent!"
      Good for detail in your hand within conform process easy. good experience in the first time online loan processing. Also I suggest or the other people's go through bankbazar.com I need held please provide the loan I am satisfied for prompt reply. Thanks
      Was this review helpful? 1
      , indore
      Reviewed on Jun 12, 2019
    • LIC Housing Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in LIC HOUSING FINANCE before 3 months ago, at the time when taken for a loan amount was sufficient to use as per my requirement for the duration of 20 years. The rate of interest is nominal. The processing fee is applicable and nominal. The customer service is good and supportive.
      Was this review helpful? 0
      , indore
      Reviewed on Jun 10, 2019
    • Indiabulls Home Loan
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      I have taken the loan with the INDIABULLS home loan and changed to another bank because of rate of interest was higher than others and used for 5 years this loan. The documentation process was simple and easy to the loan but the process was not good.
      Was this review helpful? 1
      , indore
      Reviewed on Jun 08, 2019
    • Bajaj Finserv Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the home loan with the BAJAJ FINSERV where the loan amount given with this bank was good and i have done the balance transfer with this loan. The documentation process was simple and easy to get the loan. The rate of interest given with this bank was good.
      Was this review helpful? 1
      , indore
      Reviewed on Jun 08, 2019
    • Bank Bazaar Home Loan
      "Best service in all field of bankbazar .customer satisfactio"
      0.5 5.0/5 "Blown Away!"
      Customer satisfaction is very good in service of bank Bazar .bank Bazar provide me right tips on this aap .bank Bazar give me all bank finanace service in one aap and this aap provide me best finance choice of me and my loan company ....thanks .
      Was this review helpful? 0
      , indore
      Reviewed on May 28, 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
    • DHFL Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      The rate of interest is more compared to others, I have taken home loan from DHFL by last year. They charged processing fee which is high again. The customer service is average, the loan process was faster. The loan tenure is 20 years and partial payment is applicable after a year.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2019
    • Bank Bazaar Home Loan
      "Excellent service "
      0.5 4.5/5 "Excellent!"
      I am using the services of Bank Bazaar for the very first time where i had applied for a Home loan through them and they had given a good service. During the disbursement they had send me SMS stating about the status of the loan. I came to know about their services through Internet and their web portal has been convenient.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2019
    • HDFC Limited Home Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I had selected HDFC LIMITED for my Home loan since i am using the account from HDFC BANK for the last ten years and also i heard that the services of Home loan is good with HDFC LIMITED. The process in getting the loan was not good as expected because i was committed with something and later it was different. The documentation was not clear or transparent as well. But the loan amount which they had provided was as expected.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2019
    • IIFL Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      INDIA INFOLINE HOUSING FINANCE LTD is the institute where i have taken the housing loan instantly, the documentation process was done on time, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was nominal, now more 19 years to go to close this loan.
      Was this review helpful? 0
      , indore
      Reviewed on May 03, 2019
    • Bank Bazaar Home Loan
      "Good Site for Home Loan"
      0.5 5.0/5 "Blown Away!"
      Once I submitted home loan application I got proper support from Bank Bazaar executive and also they taken care of all the process. The online website is easy to compare the home loan option, the customer support is very good, I don't face any difficulties.
      Was this review helpful? 0
      , indore
      Reviewed on Apr 29, 2019
    • Bank Bazaar Home Loan
      "PROMPT SERVICE"
      0.5 4.0/5 "Great!"
      came to know about Bank bazaar through online ,more aggressive on the financial product once customer apply .try to get better deals for customer related to financial products,the website is very useful and get aggregate information through this portal .There was no issues faced so far on using this service .
      Was this review helpful? 0
      , indore
      Reviewed on Apr 29, 2019
    • HDFC Limited Home Loan
      "Its Convenient"
      0.5 5.0/5 "Blown Away!"
      My home loan process was good and the response received from HDFC Limited is great. There was no issue faced, the interest rate was nominal. I took the loan amount of Rs. 10.75 lakhs for the duration of 20 years. I am very much fine with HDFC Limited experience.
      Was this review helpful? 0
      , indore
      Reviewed on Apr 29, 2019
    • Bank Bazaar Home Loan
      "My review"
      0.5 5.0/5 "Blown Away!"
      Loan and insurance It's a good platform for any type of loan and insurance thanks for sharing details about all bank who gives minimum rate of interest also I like and love for bank bazaar so it's helpfull information for everyone so easily check loan and insurance
      Was this review helpful? 2
      , indore
      Reviewed on Mar 18, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken my housing loan with Grah finance, it is branch of HDFC LIMITED only, and The loan amount which they have given me was sufficient,and the rate of interest they have charged me was nominal, and they have charged me processing fee that too was nominal,Their overall service is good.
      Was this review helpful? 2
      , indore
      Reviewed on Mar 14, 2019
    • Bank Bazaar Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I came to know about the services of Bank Bazaar through some TV advertisements and i have used the services for one time to get my Home loan through them where the process was quite good. I had used their website which was convenient and the best thing is that we can compare the interest rate with the different banks through their portal.
      Was this review helpful? 2
      , indore
      Reviewed on Jan 30, 2019
    • HDFC Limited Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had chosen to go with them since the services of them is good and the process in getting this loan has been good. The loan amount has been sufficient but the interest rate with them has been a little high when compared with the market rate. There has not been any help from the manager and there has not been any quick response which they had made.
      Was this review helpful? 3
      , indore
      Reviewed on Jan 30, 2019
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