Best Home Loan in India – 2024

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Best Home Loan in India – Quick Data

Home Loans are compared mainly based on interest rates or terms with regards to loan itself. Thus we have tabulated this data on both situations.

In case of any doubt, you can save time by talking to our experts about best home loan for your requirements. This service is completely free. Call us now on + 91- 8083009200.

Home Loans – Interest rates

Bank/LenderRate of Interest (p.a.)
Bank of Baroda8.40% – 10.90%
Punjab National Bank8.40% – 10.15%
Punjab & Sind Bank8.50% – 10.00%
State Bank of India8.40% – 8.80%
AXIS Bank8.60% – 9.05%
PNB Housing Finance8.50% – 11.95%
IDBI8.75% – 12.25%
Union Bank of India8.60% – 10.50%
Bank of India8.65% – 10.75%
Kotak Mahindra Bank8.70% – 8.75%
IDFC First BankStarts from 8.50%
Bajaj Housing Finance Ltd8.60% – 9.10%
HDFC Bank9.40% – 9.95%
LIC Housing Finance8.35% – 9.00%
Canara Bank8.90% – 11.25%
HSBC Bank8.75% – 8.85%
Central Bank of India8.80% – 9.35%
UCO Bank8.70% – 8.95%
GIC Housing Finance8.45% – 9.10%
Tata Capital Housing Finance Ltd9.15% – 9.50%

These interest rates are updated constantly as per the latest data. The interest rate offered to you is based on your CIBIL score, income profile & property details.

Important factors to consider

Here are the important factors you should keep in mind before you consider the bank for a home loan in India. These factors affect the overall cost of the loan and the ease of servicing the loan in long term.

1. Interest rates

Interest rates are the most important factor to evaluate which bank is best for a home loan in India. Even a difference of 0.5% is quite big for a home loan as the amount of the loan is in lakhs (or crores).

We have provided a ready reckoner to best interest on home loan in India. This list is constantly updated.

But the interest rate is not the only factor, so before you chose a bank with the lowest interest rate, you should also consider other factors as mentioned below.

2. Processing Fees

Most of the time, the bank will charge a processing fee which is either fixed or even a percentage of the loan value.

Mind you, this fee is just for processing your application and does not guarantee approval or disbursal of your loan. The processing fee is non-refundable.

That’s why we at assess your application free of cost at our end before getting your loan processed. Due to our extensive knowledge and experience, we let you know the loan amount, interest rate, and approval of the loan application before submitting your papers.

Frequently asked questions:

What is the minimum salary required for Home Loan?

The standard accepted minimum salary required is ₹ 10,000 per month for a home loan. The minimum Business income required is ₹ 2,00,000 per annum.

How much home loan can I get if my salary is ₹ 10,000?

You can get home loan of amount up to ₹ 15,00,000 and 80% of property value.

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