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Apply for Home Loans in Hyderabad
Home is a necessity for every individual. A roof over your head gives a peace of mind. Many people rely on rented housing to achieve this. Purchasing a house is a dream for the common man. Home loans from private and nationalized banks have made easier for the common man to came this dream come true.
As many options are available for home loans, you need to be thorough in your research and selection of the loan option that would be best suited for you. You need to consider every feature and most importantly the home loan interest rates for each bank before finalizing.
The search process for the best fit home loan option can become overwhelming and a time-consuming task. At LogintoLoans, we provide you home loans based on the factors taken into consideration by banks. We understand your requirements and give you the best deal based on your eligibility at the best home loan interest rates available. Home loan interest rates provided by banks may be fixed or floating.
The banks have different criteria and eligibility terms for the selection process. After validating the application and background of the individual, banks offer the loan amount home loan and the duration of repayment. Our interactive service provides you a good home loan comparison so that you can make a well-informed decision regarding the home loan option. You can pick out the best home loan features and the lowest home loan interest rates.
Benefits & Features
Types of Home Loans Available
Different people have different loan requirements. You may need the loan for purchasing, construction or renovations. Home financing banks have to cater to a wide variety of needs for the population at large. It is easier to decide on the home loan that would be good for your requirement if you can have a home loan comparison, starting right from the type of home loan.
Comparison
Home loans are a necessity and are huge. Finding the right fit for your need is very important The LogintoLoans interactive services provide home loan comparison to find the best features. The chart below gives a good comparison of the home loan interest rates.
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Home Loan Features
Home loans are secured loans. The banks keep the property you will be purchasing as collateral. This means that in case you default on your payment, the bank has the right to auction the property to recover the loan amount.
Tax Benefits
Take a home loan gives a relief in the income tax you pay. Under section 24 of the Income Tax Act you can avail up to 1.5 lakhs on the interest component of the loan and 1 lakh on the principal amount paid during the financial year.
Build Credit Score
Home loans usually have a long-term tenure. This gives you enough time to build your credit history, which is very important in case you would like to avail other loans.
Reviews
Our customers are very satisfied with our services. Read below on their experiences with our services including our interactive home loan comparisons.
Eligibility Check For Home Loan
|
Requirement |
Salaried |
Self- employed |
|
Age |
21 -60 years |
21-65 years |
|
Income |
Depends on your age and work experience |
Depends of age of your business and industry |
|
Loan amount |
300,000- 10,00,00,000(depending on repayment capacity ) |
300,000- 10,00,00,000(depending on repayment capacity ) |
|
Loan tenure |
20-30 years(depending on your age) |
20-30 years(depending on your age) |
|
Credit history |
Good |
Good |
|
Documents |
Salaried |
Self- employed |
|
Identity proof |
Voter ID/ Passport Copy/ Driving License/PAN card/ ID card issued by employer/ bank pass book |
Voter ID/ Passport Copy/ Driving License/PAN card/ bank pass book |
|
Address proof |
Passport Copy/ Utility Bill (Electricity, Water)/ Rental Agreement/ Ration Card/ Letter from a recognized public authority verifying the customer’s residence address |
Passport Copy/ Utility Bill (Electricity, Water)/ Rental Agreement/ Ration Card/ Letter from a recognized public authority verifying the customer’s residence address |
|
Income proof |
Form 16/ Certified letter from Employer/ Pay slip (Last 2 months)/ Increment or Promotion letter/ IT returns (for 3 years)/ proof of any investments |
3 years Income tax returns duly attested by C.A/ last 2 years profitless account & balance sheet attested by C.A/ brief introduction to business/ photocopy of business registration certificate/ proof of investment/ certificate of practice. |
|
Bank |
Home loan interest rate |
Processing fee |
|
Bajaj |
8.85% onwards |
0.8% of the loan amount for salaried |
|
Hinduja |
N.A |
N.A |
|
L & T |
9.90% up to 75 lakhs, 10.75 lakhs above 75 lakhs |
Up to2% of loan amount+ service tax |
|
DCB |
10.48% to 18.00% |
Up to2% of loan amount or a minimum of rs 5000 |
|
Hero fin corp |
N. A |
0.5 % of loan amount |
|
Aditya Birla |
Communicated by the lender from time to time. |
Up-to 1% of the loan amount. |
|
Magma |
Varies from client to client depending on market interest rates |
As applicable and specified in the Terms & Conditions |
|
Axis Bank |
9.15% onwards |
Min. Rs. 10,000 at 1% of loan amt. |
|
IIFL |
8.85% onwards |
0.75% of the loan amount (minimum Rs. 5,000) |
|
Canara Bank |
9.10% onwards |
Varies based on applicant profile |
|
HDFC |
8.65% onwards |
0.5% of loan amt. or Max. Rs. 10,000 |
|
Syndicate bank |
8.75% onwards |
Min. 500 to Max. 5,000 |
|
ICICI |
8.65% onwards |
Starts from 0.5% loan amount |
|
SBI |
8.50% onwards |
Min. Rs. 2000 and max. Rs. 10000 |
|
Tata capital |
8.70% onwards |
0.2% of loan amt. |
|
India bulls |
8.65% onwards |
0.5% to 1% of loan amt. Min. Rs 7,500 |
|
DHFL |
9.35% onwards |
1% to 1.5% of loan amt. |
|
Punjab National Bank |
8.90% onwards |
NIL |
|
PNB Housing Finance |
8.90% onwards |
Rs 10000 for salaried / 0.50% for self employed |
Home Loan Features
Tax Benefits
Apart from making the home purchase an affordable option, you can avail a tax benefit under section 24 of income tax act. You can avail a maximum of 1.5 lakh on the interest component paid during the financial year and 1 lakh on the principal amount paid during the financial year.
Build Credit Score
Your borrowing and repaying record will rise up with home loans. These loans are tenured for a long term and you will have a good enough time to build your credit history, which is very important for availing any other loan.