Finance Puff

TOP PICKS FOR HOME LOAN IN INDIA

When considering the purchase of a home, a home loan becomes an invaluable financial tool for turning that dream into reality. In India, a multitude of lenders offer diverse home loan options to meet the varying needs and preferences of potential homeowners. With a plethora of choices, it is crucial to identify the optimal home loan that aligns with individual financial requirements, influencing elements such as interest rates, processing fees, and additional charges.

Have a look on the top home loan lenders in India –

S.No.
Lenders
Interest Rate (per annum)
Processing Fees
1 Aditya Birla Capital 8.80% – 14.75% 1% of the loan amount + Taxes
2 ICICI Bank 9.00% – 10.05% 0.50%of the loan amount + Taxes
3 Axis Bank 8.75% – 9.15% 1% of the loan amount
4 HDFC Bank 8.50% – 9.15% 0.5% or Rs. 3000 whichever is higher
5 SBI Bank 8.50% – 10.15% 0.35% – 0.50%*
6 Punjab National Bank 8.75% – 14.50% 1% of the loan amount + Taxes
7 Bank of Baroda 8.60% – 10.60% 0.25% – 0.50%
8 Kotak Mahindra Bank 8.75% – 9.60% 0.50% – 1.00% of the loan amount + Taxes
9 TATA Capital 8.70% onwards 0.50% + Taxes
10 Union Bank of India 8.50% – 10.95% 0.50% + Taxes

(Interest Rates as of August 14, 2023

The numbers in the table may undergo changes. Please confirm these details with the respective bank before starting your loan application.)

THE TOP PICKS

1. Aditya Birla Capital
IMAGE SOURCE – adityabirla.com
2. ICICI Bank
IMAGE SOURCE – icicibank.com
3. Axis Bank
IMAGE SOURCE – axisbank.com
4. HDFC Bank
IMAGE SOURCE – hdfcbank.com
5. State Bank Of India (SBI)
IMAGE SOURCE – onlinesbi.sbi
6. Punjab National Bank
IMAGE SOURCE – pnbindia.in
7. Bank Of Baroda
IMAGE SOURCE – bankofbaroda.in
8. Kotak Mahindra Bank
IMAGE SOURCE – kotak.com
9. TATA Capital
IMAGE SOURCE – tatacapital.com
10. Union Bank Of India
IMAGE SOURCE – unionbankofindia.co.in

CONCLUSION

Lenders have varying criteria, requiring thorough analysis before a home loan application in India. Choose a home loan aligned with specific needs, repayment capacity, and financial flow. Ensure your lender transparently outlines covered expenses and find one that funds your required amount with straightforward approval and repayment options. Registration and stamp duty fees, annual maintenance charges, and clubhouse fees are generally not financed by lenders. Therefore, finding a lender that meets your financial needs is crucial.

Also Read – GUIDE TO HOME LOAN APPLICATION
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