Apply for Home Loans in Hyderabad
About Home Loan
Purchasing home is a dream come true and lifetime struggle for a common man in the developing countries like India. Many nationalized and private banks have come forward stretching their helping hands by offering loans at attractive interest rates. Economic scenarios in the country compel common man to go for loans to become owner of home. Before choosing loan for purchasing your home, you need to work out on the features you need from the bank loan and home loan interest rates that you are going to incur.
Looking to find out which bank is best for Home loan. With more and more loan advisory agents in Hyderabad, it can be rather confusing to find out which deal matches your exact requirement. Logintoloans will help you fulfill your financial needs by arranging Home Loans. We provide Home Loan based on the factors that banks provide the best deal for your requirement. We provide a platform that aggregated various types and categories of lenders to suit each requirement. We can’t say which bank is best for to get Home loan, it differs based on your requirement, eligibility and other factors.
Banks in India today offer different types of interest rates on home loans to add convenience to customer’s basket. There are different types of home loan interest rates like fixed interest rate and floating interest rates. Different banks have different criteria and terms to validate the authenticity. After authentication and validation, banks have the sole authority to decide the amount of loan and even whether it wants to offer the loan to borrower or not.
We help you do this through our interactive service which helps you compare and get the lowest interest rates for Home loan.
Benefits & Features
Types of Home Loans Available
The Home Loans that are available in the market have various criteria to avail - Home Purchase Loans, Home Construction Loans, Home Improvement Loans and etc… many lenders are providing housing loans for different related purposes Addressing the demands of the numerous of the people housing finance is available at different interest rates for various related purposes. The housing loan market is now brimming with various products to address customized needs of the people. Different types of home loans that you are not aware.
Home Purchase Loans
If you're purchasing a home, moving to a larger space, or buying a home or investment property, Quicken Loans will help you find a home loan that makes sense for you.
Home Construction Loans
Logintoloans offers Home Loans for the purpose of self-construction of a residential house property.
Home Improvement Loans
More banks provide home renovation loans to people for renovating their houses. Here’s our guide to home renovation loans so you can fund your home renovation plans.
Home Extension Loans
As your family grows larger, the need for additional space becomes paramount. We make it easy for you to extend your existing residential house property as per your requirements.
Bridging Loans
Selling your home and buying a new property, Bridging loans are a short-term finance option, commonly used by property buyers to ‘bridge’ the gap between the sale of their current home and completion date on the purchase of their next home.
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.