Best Home Loan Banks In India 2017 | Housing Loans With Low Interest Rates

Best Home Loan Banks In India

Acquiring a home is the most significant decision of life and you should be feeling proudly when you say to others this is my home. If you are planning to purchase your dream house and looking for which bank to get the best quote and provide Low Interest Rates facility then we are listed Best Home Loan Banks in India 2017 along with their interest rate for ease and convince of visitors. We are also mentioned market percentage with processing fees of various banks so you can easily compare with others bank and select your bank hassle free.

Best Home Loan Banks In India

Home loan is the easiest way though which you can alter your dream into reality. You can borrow money from bank house at affordable interest rate and build up your dream house. It is the most secured way provided by the banks at particular terms and conditions. The bank retrieves the lent money at small premiums as per consumer strength. Users can select your bank with help of this article so please have a glance below;

Best Home Loan Banks In India 2017

  • SBI Home Loan
  • HDFC Ltd
  • LIC Housing
  • ICICI Bank
  • PNB Housing Finance
  • IDBI Home Loan
  • Axis Bank

Read Now – Best Home Loans For Low Income Earners

SBI Home Loan

SBI Bombay stock exchange deducts the home loan charges and currently the lowest charges are 9.1%. State bank of India has reduced the benchmark charges in by 15 basis points of festival scheme. It doesn’t require any processing fee so you can obtain your loan amount without any difficulty. It is the largest and trustable government of bank of India and it posses more than 14,000 branches so you can easily apply to the nearest branch of your residence. If the property of customer is more than 30 Lakhs then he/she can acquire 90 per cent of property value as loan while on the other hand if your property is up to 75 lakhs, you may obtain 80 per cent of the property value.

HDFC Ltd

Before applying for any loan the interest rate is the main feature which a customer must know. The interest rate of HDFC bank is 9.10 percent to 9.15 percent and the processing fees are 1.25 percent on the loan amount. There are so many repayments options Like as Flexible Loan Installments Plan, Tranche Based EMI, Step up Repayment option; Telescopic Repayment Options are available in this bank you can choose as per your convenience. The loan eligibility criteria depend upon the income of the person and the rate will depends on apply amount i.e. higher is the income lesser will be the interest rate. Government job employer and working in reputed company person can obtain the home loan easily.

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LIC Housing

To purchase a home is a typical task for middle class person due to rising inflation. It is really important to choose such loan which is affordable because it tenure20-30 years that is long period. LIC Housing Finance Ltd is an Indian largest housing finance company which headquarters is located in Mumbai. It offers the home loan facility to individuals, builders, development authorities, employers’ and organizations. The home loan interest rate of LIC housing is around 9.15% to 9.60. It doesn’t take any processing fee from its clients, it is a huge advantage. You can acquire more details about its procedure benefits and features through the official website.

ICICI Bank

ICICI is the largest private sector bank in India which has more than 4,450 branches all over the country. Recently ICICI bank deducts its benchmark marginal cost from 9.05% to 8.95%. The Marginal Cost of Funds based Lending Rate (MCLR) in home loan is 9.3%. The interest rate of home loan for the other salaried and self-employed borrowers is 9.2%. It provides affordable interest rate and minimum processing fee. The processing fee of ICICI bank is 0.5 to 1 per cent of the loan amount. Customer can obtain90 per cent of the property value as loan. It has also launched ‘Home overdraft facility’ especially for salaried borrowers. You can get dual benefit of loan and an overdraft. Overdraft facility provides the users of flexibility to access funds instantly.

Read Also – Things To Consider Before Taking A Home Loan In India

PNB Housing Finance

Looking for the best home loan provider at minimum interest rate? PNB Housing providing a home facility at 9.30 percent to 9.50 percent interest rate. One of the biggest advantages of this housing is that you need not to pay any processing charges. If the loan is for 30 Lakhs amount get up to 90 % and for 75 Lakhs obtain 80% of the property value. EMI calculator of PNB Housing Finance assists you to analyze your monthly EMI. The rate of loan depends on applier income and how much amount he requires. Applicant age is also matter, it provides home loan only those persons that are comes under 21 to 70 years age group.

IDBI Home Loan

Building up a home is one of the biggest ambitions and IDBI bank providing the tremendous facility of home loan at low interest rate. So you can make your journey easy and obtain your home without facing any difficulty. The bank has with1200 Branches with 66 dedicated Loan Processing Retail Asset Centers. You can apply for loan from any corner of India. All banking facility with online service is available so customer may apply via online. The market percentage of this bank is 4.67% and it offers 9.30% interest rate to clients. The banking management does not take any pre-payment charge or processing fees.

Check Also – 10 Things To Consider Before Taking A Car Loan

Axis Bank

Axis bank provides affordable & flexible Home Loans and no payment charges. Bank offers the bank according to the salary of applier. It provides budget friendly loans at interest of 9.10% to 9.15%. If you apply here you can acquire quick processing and Flexible repayment option. Axis bank allows the home loan from Rs. 1,500,000 to Rs. 100,000,000. Customer can choose monthly repayment within customer’s budget limitations. It provides Minimum amount of 3,00,000 home loan. If you want to check you’re banking eligibility criteria, you can use Axis Bank Home Loan Eligibility Calculator.

Market Share Of Major Banks In India

Bank Name Market Percentage
SBI Home Loan 25.50%
HDFC Ltd 24.13%
LIC Housing 15.83%
ICICI Bank 13.10%
PNB Housing Finance 6.23%
IDBI Home Loan 4.67%
Axis Bank 4.22%
Others 6.32%

Home Loan Interest Rate Of Major Bank

Name of Bank Interest Rate
SBI 9.10%(For Women) – 9.15%(For Others)
HDFC Ltd 9.10% – 9.15%
LIC Housing 9.15%(For Govt. Employees)/ 9.15% – 9.60% (For women & Others)
ICICI Bank 9.10% – 9.15%
Axis Bank 9.10% – 9.15%
IDBI Bank 9.30%
PNB 9.25% – 9.30%

Home Loan Processing Fees

Bank Processing Fees Pre Payment Charges
ICICI Bank 0.50% – 1.00% of the loan amount + Service Tax Nil
HDFC Ltd 0.5% or 10,000+service tax Nil
SBI home loan 0.35% for every Lakh+ Service tax Nil
Axis Bank Up-to 1% of the loan amount subject to minimum of Rs.10,000/- Nil
LIC Housing Up to 50 lacs 10,000 +Service tax
50 lacs & above 15,000 +service tax
Nil
IDBI Home Loan Nil Nil
PNB Home Loans 0.50% of the amount Nil

There are so many peoples in India who wish to build their home but unable due to inflation. What can they do? Home loan is the way though which they can fulfill their dream. Bank offers home loan facility on adjustable interest rate within the rules and regulation of bank. People can go to the any branch of above bank, cheek their eligibly criteria then apply.

 

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