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

    Rural home loans make it possible to achieve the Government of India’s objective of ‘Affordable Housing for All’. These loans have special features such as zero to very minimal processing fees, flexible eligibility criteria, and minimal documentation. Interest rates range from 8.05% p.a. to 13.75% p.a. with maximum repayment tenure of up to 30 years. Loan amounts can range from Rs.2 lakh to Rs.75 lakh.

    More Details: PMAY Gramin

    More
    We found 37 Rural Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    8.40% - 8.50% Floating
    Up to 0.25%(Max ₹25,000) One time fee
    Rs.30L - Rs.5Crs
    5 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.65% - 10.35% Floating
    Up to 0.50% One time fee
    Rs.5L - Rs.10Crs
    3 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.35% - 9.18% Floating
    0.50% - 2.00% One time fee
    Rs.20L - Rs.5Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    6.95% - 7.50% Floating
    Up to 0.50%(Max ₹11,800) One time fee
    Rs.5L - Rs.10Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    8.99% - 9.75% Floating
    Up to 1.00% One time fee
    Rs.2L - Rs.3Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.60% - 9.50% Floating
    0.50% One time fee
    Rs.12L - Rs.5Crs
    1 - 20 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    8.40% - 11.75%
    0.50%(Min ₹10,000) One time fee
    Rs.5L - Rs.10Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    7.30% - 7.80% Floating
    ₹10,000 One time fee
    Rs.50L - Rs.5Crs
    1 - 25 Years
    What you'll love
    Documents
    Perks
    Good to Know
    9.00% - 12.50% Floating
    Up to 1.00% One time fee
    Rs.20L - Rs.10Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Think about
    Good to Know
    9.25% Floating
    0.50%(Min ₹10,000) One time fee
    Rs.1Cr - Rs.5Crs
    1 - 20 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    6.90% - 7.15% Floating
    Up to 0.50%(Max ₹15,000) One time fee
    Rs.25L onwards
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Eligibility Criteria
    9.25% - 11.20% Fixed
    Up to 0.50% One time fee
    Rs.2L - Rs.3Crs
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    Rural Housing Loan Scheme Interest Rate 2020

    Rural Housing Finance Interest Rate Processing Fee on Loan Amount
    HDFC Rural Housing 7.35% p.a. Up to 6%
    Bajaj Housing Finance 9.25% p.a. onwards Up to 6%
    Indiabulls Rural Home Loans 8.99% p.a. onwards Up to 2%
    Bank of Baroda Rural Finance Scheme 6.25% p.a 0.125%
    ICICI Bank Saral Rural Housing Loan 7.70% p.a. Up to 2%
    IIFL Rural Housing Scheme 8.70% p.a. Up to 1.25%
    Axis Asha Home Loan 10.05% p.a. Up to 1%

    Compare: Home Loan Interest Rate all Banks

    Eligibility Criteria for Rural Home Loan

    The following are the eligibility criteria for rural home loans:

    • Indian residents
    • Age 21 years and above
    • Steady and regular income
    • Single individual applicants or joint applicants with other family members such as a parent, spouse, or children who have a steady source of income
    • Agriculturalists, entrepreneurs, self-employed, salaried, and professionals are eligible
    • Check your Home Loan Eligibility

    Documentation for Rural Home Loan

    The following documents are required to be submitted at the time of loan application:

    • Proof of income and proof of identity such as:
      1. Valid passport
      2. Voter ID
      3. Aadhar card
      4. PAN Card
      5. Other KYC documents as required by the bank
    • Agriculturalists must submit income proof such as:
      1. Last 6 months’ bank statements
      2. Copy of title documents of agricultural land as a proof of land holding
      3. Copies of title documents of agricultural land as a proof of crops being cultivated
    • Salaried applicants must submit income proof such as:
      1. PAN card
      2. Last 6 months bank statement
      3. Last 3 months’ salary slips
      4. Latest IT returns
      5. Form 16
    • Self-employed applicants must submit income proof such as:
      1. PAN Card
      2. IT assessment for the last 3 years
      3. Profit & Loss statement for the business
      4. Account statements for business and self

    Documents required may vary depending on the bank.

    Features and Benefits of Rural Home Loan:

    • Zero to minimal processing fee
    • Concession in interest rate
    • Complimentary insurance cover is offered by some banks
    • Loan margin requirements are lower, varying from 10% to 20%
    • Longer repayment tenures
    • More flexible repayment options
    • Personalized documentation assistance
    • Door-to-door servicing of loans
    • Zero prepayment penalty
    • Moratorium period of up to 18 months offered by some banks

    Loan Tenure and Quantum:

    • Flexible tenure options between 3 to 20 years
    • Quantum of loan ranges from Rs.5 lakh to Rs.15 lakh depending on income, repayment capacity, and project cost.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.