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    KG Loan Expert: Your Trusted Partner & Best Home Loan Provider & Finance Company in Delhi, Noida & Sonipat

    When it comes to finding the right home loan solution in Delhi NCR, KG Loan Expert stands out as the premier choice. As a leading home loan provider in Delhi, Noida, and Sonipat, we take pride in offering tailored financial solutions that make homeownership dreams a reality. With a solid reputation as the best home loan company in Sonipat, we are committed to providing seamless, customer-centric services that exceed expectations.

    Home Loan Company in Delhi: A Trusted Partner

    As a prominent home loan company in Delhi, KG Loan Expert understands the unique needs of the residents in the bustling capital city. Our dedicated team of experts leverages their in-depth knowledge of the local real estate market and financial landscape to offer bespoke home loan solutions. Whether you are a first-time homebuyer or looking to invest in a second property, our extensive range of loan products is designed to suit your individual requirements.

    Home Loan Provider in Noida: Tailored Financing Solutions

    For those seeking a home loan provider in Noida, KG Loan Expert is the name you can trust. Noida, with its dynamic real estate market, demands a financial partner who understands the intricacies of the region. Our team of seasoned professionals is well-versed in the Noida property market, ensuring that you receive the most competitive and customized loan options. With KG Loan Expert, your journey towards homeownership in Noida is bound to be smooth and hassle-free.

    personal loan provider in delhi

    Home Loan Finance Company in Delhi: Committed to Excellence

    As a reputable home loan finance company in Delhi, KG Loan Expert is committed to excellence in every aspect of our service. From the moment you approach us, you'll experience a level of professionalism and expertise that sets us apart. Our streamlined application process, transparent communication, and quick approvals ensure that you receive the financing you need in a timely manner. We believe in making the entire home loan experience as stress-free as possible.

    Best Home Loan Company in Sonipat: A Legacy of Trust

    Sonipat, with its growing real estate market, deserves a home loan provider that is deeply rooted in trust and reliability. KG Loan Expert proudly holds the title of the best home loan company in Sonipat, a testament to our unwavering commitment to our clients. Our extensive network in the area allows us to provide you with the most competitive interest rates and terms, ensuring that you get the best deal possible.

    Tailored Solutions for Every Homebuyer

    At KG Loan Expert, we understand that every homebuyer is unique, and so are their financial needs. That's why we offer a wide range of loan products, each designed to cater to specific preferences and budgets. Whether you're interested in fixed-rate mortgages, adjustable-rate mortgages, or specialized loans for specific demographics, we have the expertise to guide you towards the perfect solution.

    We recognize the importance of timeliness when it comes to obtaining a home loan. That's why we have streamlined our application process to ensure quick approvals and a seamless experience. Our online application system allows you to conveniently submit your information and documentation, and our dedicated team will promptly review your application. We value transparency and will keep you informed at every step of the process, providing updates on the status of your application. Our goal is to get you approved and on your way to homeownership as efficiently as possible.

    We are not just here to provide you with a loan; we are committed to being your trusted partner throughout your homeownership journey. Our knowledgeable team is always available to address your questions and provide expert guidance at every stage. Whether you need assistance with loan repayment options, refinancing, or understanding the intricacies of the home buying process, we are here to support you. Our focus is on building long-term relationships with our clients, ensuring that you receive ongoing support and excellent service even after you have secured your home loan.

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    Your Path to Homeownership Starts Here

    As a trusted home loan provider in Delhi, Noida, and Sonipat, KG Loan Expert is dedicated to helping you achieve your homeownership dreams. With a reputation as the best home loan company in Sonipat and a commitment to excellence, we are poised to be your reliable partner on this exciting journey. Contact us today and let us pave the way to your new home.

    Turn Your Dream of Homeownership into Reality

    At KG Loan Expert Pvt. Ltd., we understand that owning a home is a dream for many, and we are here to turn that dream into a reality. As a leading home loan company, we are committed to providing you with the best financing options and personalized solutions that suit your unique needs. Whether you're a first-time buyer or looking to refinance, our team of experienced professionals is dedicated to guiding you through the home loan process from start to finish, making it smooth and hassle-free.

    We believe that every homeowner's needs are different, and that's why we offer a range of flexible home loan options tailored to your specific requirements. Our comprehensive portfolio includes fixed-rate mortgages, adjustable-rate mortgages and many more. With competitive interest rates and flexible repayment terms, we ensure that you find the ideal loan solution that fits your budget and goals. Our expert loan officers are ready to assess your financial situation and help you choose the best loan product that aligns with your long-term plans.

    What are the documents required for home Loan?

    We finance properties in Delhi district as well as in panchayats nearby to the city. We shall get you the benefit of PMAY if you are eligible. KG Loan has amazing offers for rural housing with great penetration in its segment. We are specialized in providing home loans to un-served, unreached and under-served market. We offer the most competitive pricing and easy repayment plans to of borrowers seeking home loans in Delhi.

    Frequently Asked Questions

    How do I qualify for a home loan?

    Qualifying for a home loan typically involves factors such as credit score, income, employment history, and debt-to-income ratio. Our expert loan officers will assess your financial situation and guide you through the qualification process, ensuring you meet the necessary criteria.

    What documents are required to apply for a home loan?

    Generally, you will need documents such as identification proof, income documents (pay stubs, tax returns), bank statements, employment verification, and property-related documents. Our team will provide you with a comprehensive checklist and assist you in gathering the necessary documentation.

    What is the difference between fixed-rate and adjustable-rate mortgages?

    A fixed-rate mortgage maintains the same interest rate throughout the loan term, providing stability in monthly payments. An adjustable-rate mortgage (ARM) has an initial fixed-rate period, after which the interest rate can adjust periodically based on market conditions. ARMs may offer lower initial rates but are subject to fluctuations.

    Can I refinance my existing home loan?
    1. Yes, refinancing allows you to replace your current home loan with a new one. It can help you secure a lower interest rate, reduce monthly payments, change loan terms, or access equity. Our team can evaluate your current loan and guide you through the refinancing process to determine if it’s the right choice for you.

    Maximum Home loan Bank Tie ups in online space

    Banks LIC Housing PNB Housing Finance HDFC Bank AXIS Bank State Bank Of India (SBI) ICICI Bank
    Rate of Interest 8.50% - 10.50% 8.50% - 11.95% 8.50% - 9.40% 8.60% - 9.05% 8.60% - 9.65% 9.00% - 9.10%
    Processing Fee Below 1 Cr: Upto Rs.10000 + AT
    Above 1 Cr: Rs.20000 + AT
    Rs.10000 + GST 3000 + Tax (Salaried), 5000 + Tax (S. Employed) Up to 1% of the Loan amount subject to minimum of Rs.10,000/- Nil till 31.04.2023 2999+GST for CIBIL Score above 710, .50% + GST for Score below 710.50% + GST for Score below 700
    Loan Amount Loan amount upto 75 lacs : 80% of the property cost Loan amount above 75 lacs : 75% of the property cost Loan Amount upto 30Lac: 90% of Property Loan Amount above 30Lac - 75Lac : 80% of property Loan Amount Above 75Lac: 75% of property Rs.8,00,000 - Maximum 80% of the Cost of the Property (Subject to Income Eligibility) Loans upto 80% of the property value Loan amount upto 30lac: 90% Loan amount above 30lac- upto 75Lac: 80% Loan amount above 75Lac: 75% upto 90% of market value
    Prepayment Charges Below 1 Cr: Upto Rs.10000 + AT
    Above 1 Cr: Rs.20000 + AT
    NIL 3000 + Tax (Salaried), 5000 + Tax (S. Employed) Up to 1% of the Loan amount subject to minimum of Rs.10,000/- No Prepayment or foreclosure Charges 3000 + Tax

    Home Loan Interest Rates

    Compare Home loan rates of all major banks of India. Check Interest Rates 2023, Processing fee ✓ Per lakh EMI ✓ ROI floating Rates ✓ Lowest fixed rates for salaried, Women and Self-employed/Professionals from Nationalised / Government Banks / Private Banks through Deal4loans.

    Are you looking forward to purchase your first place? Shopping for a home is exciting, exhausting and a little terrifying, especially in this market. In the end, your plan is to end up with a home you adore at a price you can manage to pay for. Arm yourself with the list mentioned below to compare and narrow down the choices to get the best for you. To lend a helping hand to our customers, deal4loans has consolidated all the necessary information regarding current rate of interest on home loans provided by all the major banks at one place. Please keep visiting this section to check latest rate of interest for home loans.

    Bank Name
    Floating Interest rate
    Per lac EMI
    Benchmark Rates on Processing Fee Prepayment Charges % Change in last 6 mths
    SBI - State Bank Of India 8.60% - 9.65% Rs.874 - Rs.942 7.70% Nil till 31.04.2023 Nil 1.52%
    ICICI Bank 9.00% - 9.10% Rs.884 - Rs.952 5.4% 2999+GST for CIBIL Score above 700, .50% + GST for Score below 700 N.A 1.44%
    HDFC Ltd 8.50% - 9.40% Rs.868 - Rs.926 17.45% 3000 + Tax (Salaried), 5000 + Tax (S. Employed) Nil 1.98%
    LIC Housing 8.50% - 10.50% Rs.868 - Rs.998 15.80% Below 1 Cr: Upto Rs.10000 + AT
    Above 1 Cr: Rs.20000 + AT
    Nil No Change
    Bank of Baroda 9.15% - 10.50% Rs.909 - Rs.998 7.70% Upto 0.5 % of loan amount + GST N.A. 1%
    AXIS Bank 8.60% - 9.05% Rs.874 - Rs.903 8.05% Up to 1% of the Loan amount subject to minimum of Rs.10,000/- Nil 0.9%
    PNB Housing Finance 8.50% - 11.95% Rs.868 - Rs.1098 0.50% Or 10,000 + GST , whichever is higher. NIL No Change
    India Shelter Housing Finance 11.99% – 18.00 % Rs.1100 - Rs.0 2% - 3%(Including GST) NIL No Change
    DMI Housing Finance 12.00% - 18.00% 18% 1.5% + GST NIL No Change
    IDBI 8.75% - 12.25% Rs.836 - Rs.1042 7.85% NIL Nil 0.97%
    Union Bank of India 9.00% - 10.50% Rs.830 - Rs.939 7.70% 0.50% of loan amount subject to a maximum of 15000 + GST NIL 2.5%
    Bank of India 8.65% - 10.75% Rs.824 - Rs.942 7.60% 0.25% of loan amount Min.Rs.1,000/- and Max. Rs.20,000/- Nil 2.45%
    Piramal Housing Finance 9.50% Rs. 932 N.A 0.10% - 0.25% (GST) N.A
    L&T Housing Finance 8.60% Rs.858 0.25% plus taxes (for salaried & for self employed) NIL
    Tata capital Housing Finance ltd 9.15% Rs.821 - Rs.0 Upto 0.5% of loan amount + GST N.A N.A
    HSBC Bank 8.75% - 8.85% Rs.802 - Rs.809 7.80% N.A Nil N.A
    Federal Bank 10.15% - 10.30% Rs.903 - Rs.913 8.50% Upto Rs.7500 + GST N.A No Change
    Central Bank of India 8.80% - 9.35% Rs.766 - Rs.793 7.50% 0.50% of the Loan Amount subject to maximum Rs.20,000/- Nil 2.38%
    UCO Bank 8.70% - 8.95% Rs.784 - Rs.790 7.55% 0.5% of the loan amount, minimum Rs.1500/- & maximum Rs. 15000/- NIL 2.45%
    Canara Bank 8.90%- 11.25% Rs.874 - Rs.1019 7.65% 0.50% of loan amount + GST NIL 1.96%
    Kotak Bank 8.85% - 9.40% Rs.890 - Rs.926 8.10% Upto 1.25% of Loan amount Nil 4.65%
    Indian Overseas Bank 8.85% - 9.55% Rs.865 - Rs.881 7.65% 0.50 % (max. Rs.25,000/-) N.A 1.95%
    Indian Bank NA Rs.862 - Rs.868 7.65% 0.230% on loan amount + GST or Max Rs.20470/- Nil 2.92%
    Punjab National Bank 8.70%- 9.55% Rs.862 - Rs.935 7.65% 0.50% of loan + GST NIL 2.43%
    Bank of Maharastra 8.60% - 10.80% Rs.824 - Rs.945 7.50% As per applicable Nil No Change
    GIC Housing Finance 8.45% Rs.849 - Rs.0 15.00% Rs.2500 + GST N.A
    India Infoline Housing Finance Ltd. 9.00% Rs.900 Upto 1% of loan amount + GST N.A
    Karnataka Bank 8.75% - 10.43% Rs.851 - Rs.986 8.30% N.A N.A
    Reliance Home Finance Private Ltd. 9.75% - 13.00% Rs.949 - Rs.1172 18.40% PLR Up to 2% + GST N.A
    Repco Home Finance Ltd. 8.80% - 10.80% Rs.818 - Rs.992 8.75% 1% of loan amount + GST N.A

    Types of Interest Rates in Home Loan in India

    In India, home loans can have various types of interest rates, each with its own features and advantages. The choice of the interest rate type can significantly impact your monthly mortgage payments and the overall cost of your home loan. Here are some common types of interest rates for home loans in India:
    1. Fixed Interest Rate:
      • Under a fixed interest rate home loan, the interest rate remains constant throughout the loan tenure.
      • Borrowers have the certainty of knowing their monthly EMI (Equated Monthly Installment) amount, making budgeting easier.
      • Fixed-rate home loans typically have higher initial interest rates compared to variable-rate loans.
    2. Floating Interest Rate:
      • Also known as adjustable or variable interest rate home loans, the interest rate can change periodically based on market conditions or the lender's discretion.
      • The interest rate is usually linked to a benchmark rate, such as the Reserve Bank of India's (RBI) repo rate or the Marginal Cost of Funds Based Lending Rate (MCLR).
      • Monthly EMIs can fluctuate with changes in interest rates, making it harder to predict future payments.
      • Borrowers may benefit from lower interest rates if market rates decrease.
    3. Semi-Fixed or Hybrid Interest Rate:
      • Some lenders offer hybrid home loans that combine aspects of both fixed and floating rates.
      • In a semi-fixed rate loan, the interest rate is fixed for an initial period (e.g., 2-5 years) and then becomes variable for the remaining tenure.
      • Borrowers get the benefit of stable EMIs during the fixed period and potential savings if interest rates fall later.
    4. Dual Rate Home Loans:
      • Dual rate home loans offer a combination of fixed and floating interest rates simultaneously.
      • Borrowers can pay a fixed rate of interest on a portion of the loan amount and a floating rate on the rest.
      • This type of loan provides a degree of interest rate stability along with potential cost savings.
    5. Step-Up and Step-Down Interest Rates:
      • Step-up interest rate loans start with lower EMIs that gradually increase over time, making it easier for borrowers with rising income.
      • Step-down interest rate loans have higher initial EMIs that decrease over time.
      • These options cater to borrowers' changing financial situations.
    It's essential to carefully consider your financial goals, risk tolerance, and market conditions when choosing the type of interest rate for your home loan.

    Important Basics for Your Home Loan Interest Rate

    The interest rate on your home loan is determined by a number of factors, including:
    Your credit score: This is the most important factor, as it gives lenders an indication of your ability to repay the loan. A higher credit score will generally lead to a lower interest rate.

    Your income and employment: Lenders want to be sure that you have a steady income and a job that is secure. If you have a high income and a stable job, you are more likely to be offered a lower interest rate.

    Loan Amount: The amount you borrow can influence the interest rate. Larger loans may have slightly higher interest rates than smaller ones. Lenders may also have different interest rate slabs for various loan amounts.

    Loan Tenure: The loan tenure or repayment period can impact the interest rate. Generally, shorter loan tenures attract lower interest rates compared to longer ones. However, shorter tenures also mean higher monthly EMIs.

    Type of Interest Rate: In India, you can choose between fixed and floating (or variable) interest rates. Fixed rates remain constant throughout the loan tenure, while floating rates can change periodically based on market conditions. Fixed rates tend to be higher than initial floating rates but provide stability.

    Loan-to-Value (LTV) Ratio: LTV ratio is the percentage of the property's value that the lender is willing to finance. A lower LTV ratio (meaning a higher down payment) can result in a lower interest rate, as it reduces the lender's risk.

    Co-borrower or Guarantor: Having a co-borrower or guarantor with a strong credit profile can help you secure a lower interest rate, as it provides additional security to the lender.

    The lender / Bank: Different lenders have different lending criteria and offer different interest rates. It is important to shop around and compare rates from multiple lenders before you choose a home loan. By understanding the factors that affect home loan interest rates, you can increase your chances of getting a lower rate and save money on your monthly payments. It's essential to compare interest rates offered by different lenders and understand the terms and conditions before finalizing a home loan in India.

    Faqs on Home Loan Interest Rate India

    Here are some frequently asked questions (FAQs) about home loan interest rates in India:
    Q: What is a home loan interest rate?
    • A home loan interest rate is the rate at which a financial institution, such as a bank or housing finance company, charges interest on the amount borrowed for purchasing or refinancing a home.

    Q: What is the current home loan interest rate in India?
    The current home loan interest rate in India ranges from 8.50% to 11.00%, depending on the lender, the loan amount, the borrower's credit score, and other factors.

    Q: What factors affect home loan interest rates?
    The following factors affect home loan interest rates:
    • The lender's risk appetite: Lenders with a higher risk appetite are more likely to offer lower interest rates.
    • The borrower's credit score: Borrowers with a good credit score are more likely to qualify for lower interest rates.
    • The loan amount: The larger theloan amount, the higher the interest rate will be.
    • The term of the loan: The longer the loan term, the higher the interest rate will be.
    • The prevailing market conditions: Interest rates are influenced by market factors such as inflation and economic growth.

    Q: What types of home loan interest rates are available in India?
    There are mainly two types of home loan interest rates: fixed and floating (also known as adjustable or variable). Fixed rates remain constant throughout the loan tenure, while floating rates can change based on market conditions.

    Q: How can I get a lower home loan interest rate?
    • Get pre-approved for a home loan from multiple lenders. This will give you leverage to negotiate a lower interest rate.
    • Improve your credit score. This will make you a more attractive borrower to lenders.
    • Choose a shorter loan term. This will lower your monthly payments, but you will pay more interest overall.
    • Consider a fixed-rate loan. This will lock in your interest rate for the life of the loan, which can protect you from rising interest rates.

    Q: Can I switch from a fixed to a floating interest rate or vice versa during my loan tenure?
    Many lenders in India allow borrowers to switch between fixed and floating rates, but it often comes with certain terms and conditions and may involve additional fees. Check with your bank / NBFC for details.

    Q: Are there any government schemes or subsidies available for home loan interest rates in India?
    Yes, the Indian government periodically launches schemes to provide interest rate subsidies for certain categories of home buyers, such as economically weaker sections (EWS) and low-income groups (LIG). Check with local housing authorities for information on such schemes.

    Q: What are the tax benefits associated with home loan interest payments in India?
    In India, borrowers can avail tax benefits under sections 24(b) and 80C of the Income Tax Act for the interest paid on home loans and the principal repayment, respectively. These benefits can help reduce the overall cost of borrowing. div class="termtext" style="margin-top:10px"> Before apply for home loan, Calculate your home loan emi with Home Loan EMI Calculator

    Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.
    Banks/ Financial Institutions can contact us at info@kgloanexpert.com for inclusions or updates.
    Bank Name Interest Rate
    State Bank Of India (SBI) 8.60% - 9.65%
    ICICI Bank 9.00% - 9.10%
    HDFC Bank 8.50% - 9.40%
    LIC Housing 8.50% - 10.50%
    Bank of Baroda 9.15% - 10.50%
    AXIS Bank 8.60% - 9.05%
    PNB Housing Finance 8.50% - 11.95%
    DMI Housing Finance 12.00% - 18.00%
    IDBI 8.75% - 12.25%
    Union Bank of India 9.00% - 10.50%
    Bank of India 8.65% - 10.75%
    HSBC Bank 8.75% - 8.85%
    Indian Bank NA
    Federal Bank 10.15% - 10.30%
    Canara Bank 8.90%- 11.25%
    PNB Home Loan 8.75% - 10.95%
    India Shelter Housing Finance 11.99%-18.00 %
    GIC Housing Finance 8.45%
    Shubham Housing Development Finance Company 10.90%

    Home Loans Eligibility Factors

    Home Loan is an easy option for buying a house, but getting the required and apt amount depends upon many factors. Below are some important factors, which play a vital role in deciding the loan amount.

    Monthly Income

    Your monthly income will determine the chances of returning the loan and timely payments of EMIs. If you are salaried person, your monthly income and if you are self-employed, in that case your annual profit would decide your home loan maximum eligibility.

    The loan amount basically depends upon the net income of an individual. Most of the banks lend a home loan upto 60 times of an individual's net income. For instance, if your take home salary is Rs. 30,000, you are eligible to get a loan of around Rs.18 lakhs

    Other EMI

    This EMI is the monthly EMI, which you have already taken from any bank and and now you are still repaying it.

    Available Income

    It is considered on the amount left with you after deduction of any EMI amount that you are currently paying for any kind of loan. Your Home Loan Eligibility will be calculated after deductions of the EMIs that you are paying.

    Property Attributes

    Generally, the banks provide maximum upto 85% of loan against the value of property. Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85% of that ie 42.50 lakhs.

    Banks also consider other specific criteria before accepting the property for granting a loan. The banks have specific norms to take consent such as the minimum area requirements for a flat which may be carpet area of built-up area. The banks also consider the age of the property, the location, reputation of the builder if it's a builder property. The banks also conduct a minute analysis to check whether the property is disputed or clear, whether the bank is free from any encumbrances, etc.

    Duration of Loan (Years)

    It is one of the most important factors that you should always consider before taking a home loan. Generally, it refers to the number of years for which you want to opt for loan. Longer the tenure, higher will be the interest paid and lower will be the amount of EMI and vice-a-versa.

    Interest Rate (in percentage)

    Presently, there are numerous banks which offer home loans, whether nationalized, private or foreign banks. Every bank offers different rate of interest according to the profile of the customer. Hence, it is really important that before selecting a bank to take a loan you must compare the quotes from various banks. It is always advisable to check full details in advance for doing a better comparison



    EMI stands for equally monthly installment; you need to pay a particular amount for the Home loan that you have taken


    Eligible Loan Amount

    The net loan amount for which you are eligible for your Home loan is said as Eligible Loan Amount. The loan amount that a Bank can sanction you.

    Credit History

    The credit history of an individual plays a really crucial role in deciding the amount of the loan. This report is generated by the credit card companies regarding the outstanding credit history of an individual. On the basis of this information the individual is given a credit score.


    Age also plays a crucial role in determining the eligibility for a home loan. One has to attain a minimum age of 21 to apply for a loan. The minimum age requirement may be different for different lending institution. The maximum age may vary from 58 to 65 years depending on the income source of the individual. The age also determines the tenure and EMI of the loan.


    If you want to increase the eligibility for having a loan you can have a co-borrower and int this way you can enhance your eligible income. Applying in the category of co-borrower increases your chances of loan approval without much complications. Although, banks allow only certain relationships to become the co-applicant. In this category friends and relatives who are not in direct blood relation are not eligible.

    Some of the features of home loans offered by different banks

    Name Loan Amount Minimum Salary Requirements Tenure
    SBI Home loan It will be determined taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc. Not Available Maximum 30 years or up to the age of 70 years of the borrower whichever is early.
    ICICI Bank Home Loan It depends on the repayment capability and is restricted to a maximum of 80% of the property value. Not Available Maximum 20 years
    HDFC Ltd Home Loan Max amount up to 80% of the value of the property and also depend on the repayment capacity of the individual Not Available 20 years for loans under fixed rate and 30years under adjustable rate home loan products
    Axis Bank Home Loan Minimum Rs 3lacs Not Available Max. tenure is 25 years for salaried customers
    And 20 years for self-employed customers.
    Axis Bank-Empower home loan scheme - home loan for self- employed individuals Minimum Rs 10 lacs
    Maximum Rs 100 lacs in tier 1 & tier 2 cities and Rs 50 lacs in other cities
    Not Available 15 years and age of the borrower should not exceed 65 years of age at the time of maturity.
    Bank of Baroda Maximum loan amount Rs 100 lacs, maximum finance upto 75-85% of the project cost.
    The loan eligibility is as follows
    Gross monthly income Rs 20,000-36 times of the gross monthly salary
    More than Rs 20,000-to Rs 1 lac-48 times of the gross monthly salary
    More than Rs 1 lac-84% of the gross monthly income
    Not Available Max tenure is 25 years
    Citibank Home loan Min Rs 5 lacs and Max. up to Rs 10 crores Not Available Max tenure up to 25 years.
    HSBC Bank Min. Rs 2 lacs and max Rs 10 crore Not Available For salaried customers its 25 years and for others 20 years
    LIC Housing Finance Min. Rs 1 lac and max. Rs 150 lacs. Generally the loan is extended upto 85% of the property value. Not Available Max. 25 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 70 yrs of age whichever is earlier

    Check Your Eligibility For Home Loans with Various Banks

    SBI, HDFC, Axis Bank, Bank of Baroda, Bank of India, Union Bank, DHFL, LIC Housing, SBP, Canara Bank, Allahabad Bank, ICICI Bank, Yes Bank, Citibank, PNB, uco bank, Indiabulls & others.

    Use this tool for calculate your Home Loan Eligibility in Various Cities of India: List Below

    Delhi/NCR, Mumbai, Kolkata, Chandigarh, Chennai, Bangalore, Ahemdabad, Jaipur, Aurangabad, Baroda, Bhiwadi, Bhopal, Bhubneshwar, Cochin, Coimbatore, Cuttack, Dehradun, Delhi, Faridabad, Gaziabad, Gurgaon, Guwahati, Hosur, Hyderabad, Indore, Jabalpur, Jamshedpur, Kanpur, Kochi, Lucknow, Ludhiana, Madurai, Mangalore, Mysore, Mumbai, Nagpur, Nasik, NaviMumbai, Noida, Patna, Pune, Ranchi, Raipur, Rewari, Sahibabad, Surat, Thane, Thiruvananthapuram, Trivandrum, Trichy, Vadodara, Vishakapatanam, Vizag

    Home Loan Eligibility depends on various factors like customer / borrowers outgoing expenses , EMI , Insurance policies etc etc. if we take a look at Income of borrower in mind, with Zero EMI for other loans than here's the example for eligibility loan amount as per Income.

    Below are the eligible home loan amounts on the basis of Per month Income / Loan amount as per 30 Years Tenure.

    Salary / Income per Month

    SBI Home Loan Eligibility

    LIC Home Loan Eligibility

    ICICI Home Loan Eligibility

    HDFC Home Loan Eligibility

    20000 1200000 1100000 1200000 1200000
    25000 1400000 1200000 1300000 1350000
    30000 1700000 1500000 1600000 1600000
    35000 2000000 1800000 1900000 1900000
    40000 2300000 2000000 2200000 2200000
    50000 3000000 2500000 2500000 2700000

    How is Home loan EMI calculated?

    To calculate exact per month emi, it is based on the loan you have taken and the interest on is calculated and the amount is paid within the decided period ie tenure.
    So if you take a 3000000 home loan and the interest is 8.45% for 20 years, your emi will be Rs. 25,845. So Home loan emi depends upon below 3 points:
    1. Loan amount
    2. Tenure
    3. Interest rates

    Formula of Calculating monthly Home loan emi

    Mathematically, EMIs are computed using the following formula Monthly Instalment Amount = [ P x R X (1 + R) ^ N] / [ (1 + R) ^N - 1] So for customer / user’s help, we have pre calculated some loan amount emi’s for respective tenure periods at various interest rates so its’s easy to know how much loan amount have to pay and what’s an outgo and how much interest you paid and how much you can save if you lower your tenure.

    Interest Rates 7.90% - 8.55%
    EMI Per 1 Lakh Rs.727 - Rs.772
    Repayment Period 30 Years
    Processing Fees NIL
    Pre Payment Charges NIL
    Example of 1 lakh loan amount for various years
    Interest Rates Repayment Period EMI Per month
    7.90% 5 year Rs.2023
    7.90% 10 years Rs.1208
    7.90% 15 years Rs.950
    7.90% 20 years Rs.830
    7.90% 25 years Rs.765
    7.90% 30 years Rs.727
    Home Loan EMI Details for 5 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 10114 6,06,857
    7.90% 10 years 6040 724799
    7.90% 15 years 4749 854899
    7.90% 20 years 4151 996273
    7.90% 25 years 3826 1147805
    7.90% 30 years 3634 1308250
    Home Loan EMI Details for 8 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 16183 970971
    7.90% 10 years 9664 1159678
    7.90% 15 years 7599 1367839
    7.90% 20 years 6642 1594036
    7.90% 25 years 6122 1836488
    7.90% 30 years 5814 2093200
    Home Loan EMI Details for 10 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 20229 1213714
    7.90% 10 years 12080 1449598
    7.90% 15 years 9499 1709799
    7.90% 20 years 8302 1992545
    7.90% 25 years 7652 2295610
    7.90% 30 years 7268 2616499
    Home Loan EMI Details for 13 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 26297 1577828
    7.90% 10 years 15704 1884477
    7.90% 15 years 12349 2222738
    7.90% 20 years 10793 2590309
    7.90% 25 years 9948 2984294
    7.90% 30 years 9448 3401449
    Home Loan EMI Details for 18 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 36411 2184686
    7.90% 10 years 21744 2609277
    7.90% 15 years 17098 3077637
    7.90% 20 years 14944 3586582
    7.90% 25 years 13774 4132099
    7.90% 30 years 13082 4709699
    Home Loan EMI Details for 25 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 50571 3034285
    7.90% 10 years 30200 3623995
    7.90% 15 years 23747 4274496
    7.90% 20 years 20756 4981364
    7.90% 25 years 19130 5739026
    7.90% 30 years 18170 6541249
    Home Loan EMI Details for 30 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 60686 3641143
    7.90% 10 years 36240 4348794
    7.90% 15 years 28497 5129396
    7.90% 20 years 24907 5977636
    7.90% 25 years 22956 6886831
    7.90% 30 years 21804 7849498
    Home Loan EMI Details for 35 Lakh loan amount
    Interest Rates Repayment Period EMI Per month Total Amount (Principal + Interest)
    7.90% 5 year 70800 4248000
    7.90% 10 years 42280 5073593
    7.90% 15 years 33246 5984295
    7.90% 20 years 29058 6973909
    7.90% 25 years 26782 8034636
    7.90% 30 years 25438 9157748

    You Can Calculate Home loan EMI for below mentioned Banks:

    • SBI Home Loan Calculator
    • HDFC Ltd Home Loan Calculator
    • DHFL Home Loan EMI Calculator

    SBI, HDFC, Axis Bank, Bank of Baroda, Bank of India, Union Bank, DHFL, LIC Housing, SBP, Canara Bank, Allahabad Bank, ICICI Bank, Yes Bank, Citibank, PNB, UCO Bank, Indiabulls & others.

    Home Loan

    To make your home loan journey a smooth sail, in this article we will help you to know eligibility criteria, rates of interest, process, necessary documents, EMI comparison and transfer for lowest rates.

    Home loan is really critical and important financial decision in our lives. Before you finalise your bank to secure home loan, try to get more information on current interest rates from different banks. First, gather some more information about how much each bank can give you. Find out eligibility for government and private banks. Which interest rate is more flexible and affordable such as fixed rates or floating rates? What is more easy a prepay option or balance transfer? We try to give answers to all such questions, and make this home loan process simple for you. To find the lender for 20 years term go through the fine print and save for years to come. A perfect Home loan is loan which gives you lowest rates throughout the tenure, has part payment options and allows you to balance transfer if you wish to.

    Major Home Loan providers in India

    Banks Loan to Property Value Interest Rates Processing Fee Contact Us
    Federal Bank Upto 85% 10.15% - 10.30% N.A Apply
    India Shelter Housing Finance 75% - 80% 11.99%-18.00 % 2% - 3%(Including GST) Apply
    DMI Housing Finance 12.00% - 18.00% 1.5% + GST Apply
    LIC Housing 8.50% - 10.50% Below 1 Cr: Upto Rs.10000 + AT
    Above 1 Cr: Rs.20000 + AT
    PNB Housing Finance 75% - 80% 8.50% - 11.95% Rs.10000 + GST Apply
    HDFC Bank 75% -80% 8.50% - 9.40% 3000 + Tax (Salaried), 5000 + Tax (S. Employed) Apply
    AXIS Bank 75% - 85% 8.60% - 9.05% Up to 1% of the Loan amount subject to minimum of Rs.10,000/- Apply
    State Bank Of India (SBI) 75% - 90% 8.60% - 9.65% Nil till 31.04.2023 Apply
    Bank of India 75% - 85% 8.65% - 10.75% Nil Apply
    UCO Bank 75% - 80% 8.70% - 8.95% NIL Apply
    PNB Home Loan 75% - 80% 8.75% - 10.95% 0.35% of the loan amount Minimum- Rs. 2,500/ Maximum- Rs. 15,000/ Apply
    IDBI 75% - 90% 8.75% - 12.25% Nil Apply
    Kotak Bank up to 90% 8.85% - 9.40% Nil Apply
    Union Bank of India 65% - 80% 9.00% - 10.50% 0.50% of loan amount subject to a maximum of 15000 + GST Apply
    ICICI Bank Upto 85% 9.00% - 9.10% 2999+GST for CIBIL Score above 710, .50% + GST for Score below 710.50% + GST for Score below 700 Apply
    Bank of Baroda 75% - 90% 9.15% - 10.50% NIL Apply
    Piramal Housing Finance 75% - 80% 9.50% Upto 0.25% + GST Apply
    Indian Bank 80% - 90% NA Nil Apply

    Should I take Home loan now or wait ?

    Home loan is a long term investment plan. Generally, people opt for a home loan for 20 to 30 years.Mostly customers avail loan on floating interest rates. Rates keep changing and long-term loan such as for 20 years or more than that is impossible to decide. Home loan rates will change in 20 years, so making a decision to take a home loan just base of the reason of interest rates is not a smart idea. So thinking to start a loan at a lower rate has no relevance.
    The right time to take a Home loan is when:
    • The Property you intend to buy is good and cannot be missed or it is expected that the price of property will rise.
    • The EMI that you have to pay per month is above your monthly expense budgets etc.

    Bonanza for home loan seekers as govt. offers interest subsidy for those earning ?6 lakh - ?18 lakh. The scheme has been envisaged for one year. Those who have been sanctioned housing loans and whose applications are under consideration since January 1 this year are also eligible for interest subsidy. Prime Minister Narendra Modi had earlier announced an interest subsidy of 4 per cent on housing loans of up to ?9 lakh for those earning up to ?12 lakh per year under PMAY SCHEME 2018. A subsidy of 3 per cent on housing loans of up to ?12 lakh for those earning up to ?18 lakh per year.

    All Banks Home Loan Interest Rates - 09 November 2023

    Home Loan - Let's simplify how this will go about and what are the steps.

    The first step involved in the process is to find your property, which is followed by the verification of property documents, post that the documents are examined. Simultaneously, you can start searching for the lender who can offer the best home loan deal after checking your eligibility criteria.

    Know the Home Loan Eligibility: Banks offer the loan amount based on your monthly income and the value of the property. They will give you max amount in which your EMI of home loan and others loans is 50-60% of your income. Other factor is value of that property.

    Select the Best Home Loan after evaluation: Comparing home loan interest rates of various banks is the primary feature in the home loan selection process. However, you should not also forget to compare other fees & charges like application fees, processing fees, legal charges of different loan offers. To check the interest rates & other charges incurred by various banks, Deal4Loans has brought in a Home Loan Comparison Chart across various government and private banks. Banks offer fixed and floating rates in home loans.

    Most customers choose Floating rates

    Applying for the Loan : After you have selected your lender, you have to fill in the application form, wherein the lender requires complete information about your financial assets & liabilities; other personal & professional details together with the property details & its costs.

    Documentation & Verification Process: You are required to submit the necessary documents to the bank, which will be verified together with the details in the application

    Credit & default check: Bank checks out the borrower's loan eligibility (through repayment capacity) & the amount of loan is confirmed. The borrower's repayment capacity is reached, which is based on the income, salary, age, experience & nature of business etc. Bank also checks credit history through the Cibil Score, which plays a critical role in deciding & approving your loan application. Low credit score implies that the bank upfront rejects your application on the basis of earlier credit defaults; on the other hand high credit score gives a green signal to your application

    Bank sanctions Loan & Offer letter to the borrower: After the credit appraisal of the borrower bank decides the final amount & sanctions the loan, the bank further sends an offer letter to the borrower, which constitutes the details like rate of interest, loan tenure & repayment options etc.

    Acceptance Copy to the Bank: The borrower needs to send an acceptance copy to the bank after the borrower agrees with the terms & conditions in the offer letter.

    Bank checks the legal documents: The bank further asks the legal documents of property from the borrower to check its authenticity, so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank.

    Signing of agreement & the loan disbursal:

    The borrower signs the loan agreement & the bank disburses the loan amount.

    Documents required in Home Loan

    Generally, the documents required to process your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:

    • Income
    • Age Proof
    • Address Proof
    • Income Proof of the applicant & co-applicant
    • Last 6 months bank A/C statement
    • Passport size photograph of the applicant & co-applicant
    In case of Salaried In case of Self-employed
    Employment certificate from the employer, Copy of audited financial statements for the last 2 years
    Copies of pay slips for last few months and TDS certificate Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company
    Latest Form 16 issued by employer Bank statements Profit and loss account for the last few years
    Income tax assessment order

    How is my Home loan Eligibility Calculated

    The borrower's eligibility of getting a housing loan depend upon his/her repayment capacity & the banks establish this repayment capacity by considering various factors such income, spouse's income, age, number of dependants qualifications , assets, liabilities, stability and continuity of occupation and savings history. Eligibility Factors in Housing loan Your Home Loan eligibility is determined by your repayment capacity and the value of the Property
    • Income
    • Qualifications
    • Age
    • Spouse's income
    • No. of dependants
    • Stability and continuity of occupation
    • Assets/LiabilitiesM.
    • Savings history.

    Tool -Home Loan eligibility calculator helps you in calculate your loan amount on the basis of your income / salary.

    The most important concern of banks in determining your loan eligibility is that whether or not you are contentedly able to pay off the amount you borrow.

    The Second factor is the value of the Property

    Banks are okay to fund 75-85% of property value but with the condition that you have income capacity that you can pay its Emi each month.

    Fixed and floating rate of interest

    When you avail a home loan EMI is calculated either on fixed rate of interest or according to the floating rate of interest. Before finalizing either, you must take a note of both the patterns and take a well-calculated decision. Generally, home loan is taken for a longer tenure compared to other loans such aspersonal loan orcar loan. You borrow the loan for at least for10 years and maximum upto 30 years. In such scenario, you end up paying a huge amount as interest on your principal amount. Therefore, the difference of 0.5% can make huge impact on your overall interest amount. Let's take a close look at both the patterns of interest.

    Fixed rate of interest: Generally, in fixed rate of interest, the percentage of interest is fixed for whole tenure and same percentage of interest is charged throughout the loan. It makes the EMI payable at a constant sum throughout the tenure. Therefore, it is always recommended that you opt fixed rate of interest only when the rates are bottom down and if an upward trend is expected.

    Floating rate of interest: Floating rates of interest changed with the market lending rates. Therefore, these rates are prone to fluctuations. The interest rate on your EMI might get increased or decreased depending upon the fluctuation in the market lending rates. In this case, bank provide an alternative to increase the tenure of the loan, at a constant EMI, for the borrowers who do not desire their EMI to be increased in case of higher interest rates.

    How to calculate interest rate?

    While applying for a home loan, the most important question is rate of interest. One more thing, which is equally important is how interest is calculated by respective bank. Banks are required to quote interest rates on a 'reducing balance' basis. Let's take a look how this whole formula works:

    For instance: You have taken a loan of Rs. 1 lakh for a period of one year at an interest rate of 10.00% per annum, on a monthly reducing balance basis. In this situation, you will pay 12 equated monthly instalment's (EMIs), with a part of each EMI going towards repaying the principal amount borrowed (Rs 1 lakh), and the balance towards servicing the interest on your loan. What is important to note is reducing balance calculation is the interest component of your EMI keeps changing, from a high initial amount in the early part of your loan, to a nominal figures as the loan comes to an end.

    Sr. No EMI Interest Principal Amount Balance Amount
    1 8,792 833 7,958 92,042
    2 8,792 767 8,025 84,017
    3 8,792 700 8,091 75,926
    4 8,792 633 8,159 67,767
    5 8,792 565 8,227 59,540
    6 8,792 496 8,295 51,245
    7 8,792 427 8,365 42,880
    8 8,792 357 8,434 34,446
    9 8,792 287 8,505 25,941
    10 8,792 216 8,575 17,366
    11 8,792 145 8,647 8,719
    12 8,792 73 8,719 0
    Total 1,05,499 5,499 100,000

    This happens because the bank charges interest rate of 10% on a lower or reducing balance loan amount each month. Therefore, in the first month 10% rate is charged on full Rs. 1 lakh. After paying your first EMI, you are left with a balance amount of Rs. 92,042 to pay.

    In the second month, the same rate of interest is charged on a reduced/lower balance basis. The same formula continues month-after-month, till the whole amount is repaid. Therefore, in lower interest rate, the EMI stays constant, the split of interest and principal keeps changing, with the interest amount of EMI being at the highest in the first month and decreasing month-by-month to a nominal amount, in the last month of repayment.

    Few Facts for Best Home Loan Providers in India

    SBI (State Bank of India) Home Loans:

    SBI Home Loans is the largest Mortgage Lender in India, with more than 24000+ branches and 1600+ sales team.

    WHY to Go with SBI Home Loan
    • Trust > Transparency > Integrity > Excellence > Low Interest Rates > Low Processing Fees > No Hidden Cost

    HDFC bank Home Loans:

    HDFC Bank is the second largest home loan provider in India. The key features of HDFC home loan include easy documentation, door step assistance and flexible repayment options, making it easier for you to bring alive your aspiration of owing your own home. WHY to Go with HDFC Bank Home Loans
    • QUICK > SIMPLE > TRANSPARENT > Low Interest Rates > Fast Sanction Approval

    Axis Bank Home Loans

    Axis bank is the 3rd largest housing loan provider bank in India, avail nil prepayment charges, low-interest rates and flexible payment. WHY to Go with Axis Bank Home Loan
    • QUICK > NIL prepayment charges > Low Interest Rates > Fast Sanction Approval > Flexiable payment options > Fast Forward Home Loan

    Home Loans Fees and Charges

    • Processing Feeg
    • Late Payment Charges
    • Pre Payment Charges
    • Conversion Charges
    • Legal Fee
    • Administrative Fee
    • Statement of Loan / Account Fee

    Updated News on Home Loans:

    Mortgage lender HDFC bank on Thursday hiked interest rates on home loans by 20 basis points, a day after RBI raised the benchmark repo rate by 25 bps to 6.5 per cent . As per the new rates, women borrowers can avail a home loan of up to Rs 30 lakh at 8.7 per cent while other customers will be charged a rate of 8.75 per cent . New rates are effective from 1st August. For loans above Rs 30 lakhs women borrowers will be charged at 8.80 per cent while other borrowers will be charged a rate of 8.85 percent.

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