{"id":11351,"date":"2017-03-17T05:39:39","date_gmt":"2017-03-17T05:39:39","guid":{"rendered":"https:\/\/manikarthik.com\/blog\/?p=11351"},"modified":"2024-11-17T09:51:23","modified_gmt":"2024-11-17T09:51:23","slug":"best-home-loans-india","status":"publish","type":"post","link":"https:\/\/manikarthik.com\/blog\/best-home-loans-india\/","title":{"rendered":"10 Best Home Loans in India"},"content":{"rendered":"\n

The demonetization move announced by the Government of India on November 8, 2016 sent prices plummeting. The demonetization took ~86% of cash out of circulation, wiping out the black money that had inflated prices in the Indian housing market. <\/p>\n\n\n\n

The move brought home prices down as much as 30% in some of the key markets, like Delhi-NCR. Experts are predicting the property market slowdown to be short-lived, with banks reducing interest rates and the Real Estate Regulation and Development Act 2016 (RERA) getting implemented by the states, says an article in The Hindustan Times<\/a>. <\/p>\n\n\n\n

In fact, the increased pressure on property prices may not continue beyond 2017. With prices and interest rates<\/a> down, this may be just the right time to take a home loan in India.<\/p>\n\n\n\n

Best Home Loans in India<\/h2>\n\n\n\n

Here are ten of the best home loans in India:<\/p>\n\n\n\n

SBI<\/a> has a 25.50% market share in home loans, as per ICRA. As of March 15, 2017, SBI was offering two housing loan schemes<\/a>.<\/p>\n\n\n\n

SBI Home Loan (Term Loan)<\/h2>\n\n\n\n
 <\/td>2-yrs Fixed Interest Loans up to \u20b930 lakhs<\/td>Floating Rate Loans up to \u20b975 lakhs<\/td>Floating Rate Loans above \u20b975 lakhs<\/td><\/tr>
For Women<\/td>8.50% for first two years, floating rate thereafter<\/td>8.60%<\/td>8.65%<\/td><\/tr>
For Others<\/td>8.55% for first two years, floating rate thereafter<\/td>8.65%<\/td>8.70%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

SBI Home Loan (Max Gain)<\/h2>\n\n\n\n
 <\/td>Floating Rate Loans above \u20b920 lakhs and up to \u20b975 Lakhs<\/td>Floating Rate Loans above \u20b975 Lakhs<\/td><\/tr>
For Women<\/td>8.75%<\/td>8.95%<\/td><\/tr>
For Others<\/td>8.80%<\/td>9.00%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

HDFC Home Loan<\/h2>\n\n\n\n

HDFC has a 24.13% market share. One can apply online<\/a> and get an e-approval.<\/p>\n\n\n\n

Up to \u20b975 Lakhs<\/td>Above \u20b975 Lakhs<\/td><\/tr>
8.50% – 9.00%<\/td>8.55% – 9.05%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

LIC HFL (Housing Finance Loan)<\/h2>\n\n\n\n

LIC has a 15.83% market share. LIC offers loans<\/a> under the Pradhan Mantri Awas Yojna.<\/p>\n\n\n\n

 <\/td>Loans from \u20b910 lakhs up to \u20b915 Lakhs<\/td>Loans above \u20b915 Lakhs up to \u20b920 Lakhs<\/td>Loans above \u20b920 Lakhs up to \u20b950 Lakhs<\/td><\/tr>
For Women<\/td>8.50%<\/td>8.55%<\/td>8.65%<\/td><\/tr>
For Others<\/td>8.55%<\/td>8.60%<\/td>8.70%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

ICICI Bank Home Loan<\/h2>\n\n\n\n

ICICI<\/a> Bank has a 13.10% market share. One can apply for a preapproved home loan<\/a>.<\/p>\n\n\n\n

 <\/td>Loans for up to 30 years<\/td><\/tr>
For Women<\/td>8.65% – 8.80%<\/td><\/tr>
For Others<\/td>8.70% – 8.85%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

PNB HFL (Housing Finance Loan)<\/h2>\n\n\n\n

PNB Housing has a 6.23% market share. One can get a loan<\/a> for up to 90% of the property value.<\/p>\n\n\n\n

Interest Rates<\/td>8.50% – 9.10%<\/td><\/tr>
Loan Tenure<\/td>up to 30 years<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

IDBI Home Loan<\/h2>\n\n\n\n
Interest Rates<\/td>9.15% – 9.20%<\/td><\/tr>
Loan Tenure<\/td>up to 30 years<\/td><\/tr>
Loan Amount<\/td>From \u20b95 Lakhs up to \u20b910 Crores<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

IDBI has a 4.67% market share. One can check out the projects that have already been approved by IDBI, for faster loan processing<\/a>.<\/p>\n\n\n\n

Axis Bank Home Loan<\/h2>\n\n\n\n

Axis Bank<\/a> has a 4.22% market share. One can get a loan<\/a> for up to 90% of the property value.<\/p>\n\n\n\n

Interest Rates<\/td>8.65% – 10.50%<\/td><\/tr>
Loan Tenure<\/td>up to 30 years<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

DHFL Home Loan<\/strong>: Interest rate of 8.60%<\/p>\n\n\n\n

Citibank Home Loan<\/strong>: Interest rate of 8.80% – 9.30%<\/p>\n\n\n\n

What to Consider When Comparing Home Loans<\/h3>\n\n\n\n

Apart from the interest rate, the most important factors to consider are:<\/p>\n\n\n\n