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The housing finance industry in India has undergone a paradigm shift over the last decade, thanks to economic liberalization and ensuing policy changes. The days have gone when applying for a home loan meant entering a jumble of documentation and dealing with condescending bank executives. Today, there is a huge competition and housing finance companies are falling over each other to persuade potential customers.
Today, the Cut-throat competition among housing finance companies in India has brought down the interest rates by a few notches. The huge difference in interest rates across-the-board has all but disappeared and home loan companies are taking an alternative to product innovation to stand out in the burgeoning home loan market.
Home Loan - Home loan in India has so many variations in Rate of interest (Fixed, Floating, Mixed), Eligibility, Loan amount etc. So the choosing an appropriate home loan scheme & information about the major players for the same is really difficult for a customer. We at RealtyZing realize your long cherished dream of owning your home and assist you in selecting customer friendly home loan.
We have consolidated the records (documents required, eligibility, rate of interests etc.) below from major banks dealing in home loan:
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Axis Bank: Buy the house that you've set your heart on with Axis Bank home loans. Get attractive interest rates, balance transfer facility, doorstep service & option to choose from floating rate or fixed rate. And what's more no pre payment penalty!! They offer the loan from Rs 1 lac & above onwards, the age criteria is 24years at loan commencement. And up to 65 years or less at the time of loan maturity
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Bank of India: Provides loans to purchase a Plot for construction of a House, to purchase/construct house/flat, as well as for renovation/repair/alteration/addition to house/flat, furnishing of house, Takeover of customer's housing loan extended by other Banks like Citibank, Dena Bank, Punjab National Bank,SBI etc or F.Is /NBFCs at highly flexible and liberal terms and conditions
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Canfin Homes Ltd: Can Fin Homes Limited was set up in 1987, the "International Year for Shelter for the Homeless," by Canara Bank in association with reputed financial institutions including HDFC and UTI. As the first bank sponsored Housing Finance Company in India, Can Fin Homes has emerged as one of the leading players in the country's home loan segment
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CitiBank: A bigger, better home with CITI bank home loans .The bank offers loans for loans for built property as well as under construction property. Salaried persons should have at least Rs 1,00,000 gross income per annum and minimum age at least 23 years to be eligible for the loan, maximum age should be 65 or retirement age. Self-employed gross annual income should be Rs 85,000. The age limits are the same as salaried class.
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Citifinancial: Citifinancial home loans or more precisely Citifinancial home equity loans enable you to explore your borrowing power through your house equity. Rather than opting for a personal loan or credit card loan, application to a Citifinancial home equity loan gets you more finance at a relatively lower interest rate
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Dena Niwas Housing Finance Scheme:
You can avail of Dena Niwas Home Loan to purchase a plot, construct a house, buy a ready built house or buy one under construction. The loan even helps you build an extension to your existing house or purchase a house that is up to 25 years old. Besides you can take this loan for repairs and upgradation, which includes the cost of fixtures, POP works, retiling, fittings etc
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Deutsche Bank: Your partner for your dream home. They offer a wide range of home loan options.The loan amounts range from Rs. 250,000 to Rs. 2 crore and the tenure is from 5 years to 20 years. You can choose between a fixed and a floating interest rate for your loan. Also, with attractive interest rates and savings on taxes, a Deutsche bank Home Loan gives you complete peace of mind.
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GE Money: makes it possible for you!! GE Money Housing Finance offers you complete solutions for all your housing related needs. They offer Home Loans upto Rs. 2 Crores with attractive interest rates. Your can get a Loan upto 85% of property value as loan. You can also avail of a Loan Transfer from other banks.
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HDFC Bank HDFC: (Housing Development And Finance Corporation) Home Loan, India have been serving the people for around three decades and providing various housing loan according to their varied needs at attractive & reasonable interest rates. Their home loan is available for individuals to purchase (fresh / resale) or construct houses. Application can be made individually or jointly. HDFC finances up to 85% maximum of the cost of the property (Agreement value + Stamp duty + Registration charges) based on the repayment capacity of the customer.
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HSBC: has made rapid strides in the home loan segment. HSBC provides loans for ready property, under construction property, self-construction and home improvement. HSBC home loans range from Rs. 5 lakhs to Rs. 3 crore and the maximum repayment period can go upto 25 years
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HUDCO: Housing Urban Development Corporation (HUDCO) plays a major role in implementation of National Housing Policy. HUDCO's mandate is to meet the needs of the low income group (LIG) and economically weaker sections (EWS).
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ICICI Bank: offers hassle free home loans with the best deal. The loan tenure is maximum upto 25 years. They offer multiple benefits on the loan taken.o Simplified Documentation - The loan application process is easier and loan approval process, faster with simplified documentation o Door Step Service - They personally deliver your Home Loan at your doorstep - o Attractive Interest Rates -offers you a wide range of home loan rates to choose from
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IDBI Bank: helps you realise your long cherished dream of owning your home through hassle free and customer friendly home loans. The tenor of a home loan can be up to 25 years for a resident individual whereas for NRIs the maximum tenure is 15 years subject to maximum age of 60 years at maturity. Loan can be applied for a maximum of 90% of the property value subject to credit discretion
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IDBI Housing Finance: A New generation home finance company which combines the best attributes of the various providers of home finance. They have a unique offer for safe custody of documents, provided free of cost to their customers. Minimum age eligibility is 21 years either for employed or self employed individuals. You can get a loan from Rs 10,000 up to a maximum of Rs 1 crore.
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IndusInd Bank Ltd: has become one of the fastest-growing banks in the Indian banking sector today with its branch network expanding impressively. The first of the new-generation private banks in India that came into being through collective contributions from the NRI community, this bank started with a capital base of Rs.1, 000 million
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ING Vysya Bank: Your search for a Ideal Home ends at ING Vysya Bank, you can avail ING Vysya Home Loans for constructing a home, purchasing a ready built house/flat, residential site or even for refinancing existing loans. With attractive interest rates & funding upto 85%.They have flexible repayment options and maximum loan tenor upto 20 years.
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Kotak Mahindra Bank: At Kotak Mahindra bank, you can avail of home loans for the purpose of purchasing residential property. Whether you are buying it fresh from the developer or it is a resale purchase. They have wide range of offerings with attractive interest rate. You also get free personal accident insurance.
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LIC Housing: offers home loans for construction/purchase of house/flat and also for renovation of existing flat/house. LIC Home Loans India provides home building loan at attractive rate of interest. While LIC Griha Prakash and are for purchase, construction of properties and extension of residential units, LIC Griha Sudhar Loan facilitates repairs/renovation of properties. Minimum age requirement is 21 years as on the date of sanction. The main objective of the Company is to provide Long Term Finance to individuals for Purchase/Construction/Repair and Renovation of new/existing flats/houses
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Oriental Bank of Commerce:
Oriental Bank of Commerce is a leading Indian nationalized bank with a strong financial base. Oriental Bank of Commerce loans comes in a wide variety of categories. The options are virtually endless. There is one for everybody. The bank also has customized loans for rural India
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PNB Housing Finance: PNB Apna Ghar Yojana home loans are meant for construction or for acquisition/ purchase of house/ flats. The minimum loan amount would be Rs.50,000/- and maximum loan amount depends on the repayment capacity of the borrower. In case of joint application, income of borrowers /co-borrowers are clubbed together for calculation of loan eligibility. The loan repayment is in Equated Monthly Installments (EMI) over a maximum period of 20 years
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Reliance Housing Finance: With reliance housing finance you can fulfill your requirement of owning that dream home. Their loans have been customized to meet the individual's needs & desires. They offer attractive interest rates with best in class features and benefits. You can choose the tenor with simple EMI option. And balance transfer option with a top-up facility.
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Saraswat Bank: Saraswat Co-operative Bank Ltd. is the premier co-operative bank in Asia. Apart from its wholesale banking business under which it provides a wide range of products, it also offers a bouquet of Retail Loan Products such as Vaastu Siddhi Home Loan
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State Bank of India (SBI): SBI bank is the most preferred home loan provider in India. The latest offer is an interest rate concession on GREEN HOMES in accordance with SBI's commitment to Environment protection. Having a huge variety of products appropriate to every kind of customer. Minimum age limit 18 yrs & Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid. Availability of sufficient, regular and continuous source of income for servicing the loan repayment
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Standard Chartered India Home Loans: Standard Chartered India Home Loans is one of the best home loan available in India and from all aspects this home loan is sure to suite you well. Th service is quick and friendly both to you and to your pocket. The Standard Chartered India Home Loans come in a wide variety to choose from and th interest rate of the loan is also very less
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Syndicate Bank Home Loan: Syndicate Bank Home Loan provides home loans to an individual for purchasing a new house or a flat, renovating an already existing flat or house or even furnishing the house. It provides home loan to employed persons, self-employed persons and business persons. SyndNivas offers the individual's loans equivalent to the gross salary for 72 months including that of his or her spouse as the loan to the self-employed persons
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