Compare Home Loan Offers in India
Compare home loan offers from leading banks and housing finance companies in India. Explore home loan interest rates, loan amounts, processing fees and repayment tenures to find a suitable option for buying or constructing your dream home.
HDFC Bank
Interest Rate
7.45% onwards
Loan Amount
Upto ₹10Cr
Processing Fee
₹ 3,300
Tenure
Upto 30 Years
ICICI Bank
Interest Rate
7.7% onwards
Loan Amount
Upto ₹5Cr
Processing Fee
0.5%
Tenure
Upto 30 Years
Axis Bank
Interest Rate
7.55% onwards
Loan Amount
Upto ₹10Cr
Processing Fee
₹ 10,000
Tenure
Upto 30 Years
State Bank of India
Interest Rate
7.25% onwards
Loan Amount
Upto ₹10Cr
Processing Fee
0.35%
Tenure
Upto 30 Years
Kotak Mahindra Bank
Interest Rate
10.99% onwards
Loan Amount
Up to ₹1 crore
Processing Fee
Up to 5%
Tenure
1–6 years
Bank of Baroda
Interest Rate
9.99% onwards
Loan Amount
Up to ₹15 lakh
Processing Fee
0% – 3.5%
Tenure
9 – 60 months
Union Bank of India
Interest Rate
10.49% onwards
Loan Amount
₹30,000 – ₹50 lakh
Processing Fee
Up to 3.5%
Tenure
12 – 84 months
LIC Housing Finance
Interest Rate
10.85% onwards
Loan Amount
Up to ₹50 Lakh
Processing Fee
Up to 2.5%
Tenure
Up to 72 months
Bajaj Housing Finance
Interest Rate
10.00% onwards
Loan Amount
₹40,000 – ₹55 lakh
Processing Fee
Up to 4.13%
Tenure
Up to 9 Years
Federal Bank
Interest Rate
10.99% onwards
Loan Amount
₹40,000 – ₹35 lakh
Processing Fee
Up to 5%
Tenure
Up to 6 Years
Punjab National Bank
Interest Rate
10.60% onwards
Loan Amount
Up to ₹20 Lakh
Processing Fee
Up to 1%
Tenure
Up to 72 months
Canara Bank
Interest Rate
12.14% onwards
Loan Amount
₹50,000 – ₹25 lakh
Processing Fee
Up to 5%
Tenure
9 – 60 months
Interest Rate
7.45% onwards
Loan Amount
Upto ₹10Cr
Processing Fee
₹ 3,300
Tenure
Upto 30 Years
Interest Rate
7.7% onwards
Loan Amount
Upto ₹5Cr
Processing Fee
0.5%
Tenure
Upto 30 Years
Interest Rate
7.55% onwards
Loan Amount
Upto ₹10Cr
Processing Fee
₹ 10,000
Tenure
Upto 30 Years
Interest Rate
7.25% onwards
Loan Amount
Upto ₹10Cr
Processing Fee
0.35%
Tenure
Upto 30 Years
Interest Rate
10.99% onwards
Loan Amount
Up to ₹1 crore
Processing Fee
Up to 5%
Tenure
1–6 years
Interest Rate
9.99% onwards
Loan Amount
Up to ₹15 lakh
Processing Fee
0% – 3.5%
Tenure
9 – 60 months
Interest Rate
10.49% onwards
Loan Amount
₹30,000 – ₹50 lakh
Processing Fee
Up to 3.5%
Tenure
12 – 84 months
Interest Rate
10.85% onwards
Loan Amount
Up to ₹50 Lakh
Processing Fee
Up to 2.5%
Tenure
Up to 72 months
Interest Rate
10.00% onwards
Loan Amount
₹40,000 – ₹55 lakh
Processing Fee
Up to 4.13%
Tenure
Up to 9 Years
Interest Rate
10.99% onwards
Loan Amount
₹40,000 – ₹35 lakh
Processing Fee
Up to 5%
Tenure
Up to 6 Years
Interest Rate
10.60% onwards
Loan Amount
Up to ₹20 Lakh
Processing Fee
Up to 1%
Tenure
Up to 72 months
Interest Rate
12.14% onwards
Loan Amount
₹50,000 – ₹25 lakh
Processing Fee
Up to 5%
Tenure
9 – 60 months
What Is a Home Loan?
A home loan is a secured loan offered by banks and housing finance companies to help individuals purchase, construct or improve a residential property. It allows you to finance a significant portion of the property’s cost without paying the entire amount upfront. The property being financed generally serves as security for the loan.
Home loans are commonly used to purchase a new or resale house or flat, construct a house on an eligible plot, renovate an existing home or extend a residential property. The exact purposes covered depend on the lender and the specific loan product.
Once your application is approved, the lender sanctions a loan amount based on factors such as your income, credit profile, existing financial obligations, repayment capacity and the property’s value and legal status. The approved amount may be disbursed to the seller, builder or borrower, depending on the transaction and lender’s process.
You repay the loan through Equated Monthly Instalments (EMIs), which generally consist of principal and interest. Home loans often have longer repayment tenures than personal loans, potentially extending up to 30 years with eligible lenders. A longer tenure can reduce your monthly EMI but may increase the total interest paid over the life of the loan.
Before applying, compare home loan interest rates, processing fees, loan tenure, prepayment conditions and other applicable charges. Also account for your down payment, stamp duty, registration fees and other property-related expenses when planning your budget.
Paisafox helps you explore home loan options and understand key borrowing costs so you can compare lenders and make a more informed decision before applying.
Key Features of Home Loans Loans
High Loan Amount
Home loans allow eligible borrowers to finance a substantial portion of a property’s purchase or construction cost.
Long Repayment Tenure
Home loans typically offer longer repayment periods than unsecured loans, with some lenders offering tenures of up to 30 years.
Competitive Interest Rates
Home loans are secured against the financed property and may offer lower interest rates than unsecured borrowing options.
Fixed and Floating Interest Rate Options
Depending on the lender, borrowers may be able to choose between fixed and floating interest rates.
Tax Benefits, Subject to Eligibility
Eligible borrowers may qualify for tax benefits on home loan principal and interest repayments under applicable tax laws.
Part-Prepayment and Loan Repayment Flexibility
Making eligible part-prepayments can help reduce the outstanding principal and potentially lower the total interest payable.
How to Get a Home Loan Online
A home loan allows eligible borrowers to finance the purchase, construction or improvement of a residential property. Many banks and housing finance companies allow you to apply online, compare loan options and submit your details digitally. The approval and disbursal timeline depends on the lender, your financial profile and the property’s legal and technical verification.
Here’s how the process generally works:
- Check your eligibility: Review factors such as your age, monthly income, employment or business stability, credit history, existing EMIs and expected repayment capacity to estimate how much you may be able to borrow.
- Compare available offers: Compare interest rates, processing fees, loan amounts, repayment tenures and prepayment conditions offered by different banks and housing finance companies.
Use a home loan EMI calculator to estimate your monthly repayment based on the loan amount, interest rate and tenure.
- Submit an online application: Visit the lender’s official website or digital application platform and provide your personal, employment, income and property details.
Upload documents and complete verification: Provide the required identity and address proofs, income documents, bank statements and property papers.
Receive the loan sanction and accept the terms: If your application meets the lender’s requirements, you may receive a sanction letter specifying the approved amount, interest rate, tenure and other conditions.
Complete disbursal formalities: After the necessary agreements, property checks and other lender requirements are completed, the approved amount is generally disbursed to the seller, builder or borrower, depending on the transaction.
Tips to Get the Best Home Loan Offers
Getting the best home loan is not just about choosing the lowest interest rate. Your credit profile, income, existing financial obligations, loan amount, property value and choice of lender can all influence the loan terms you receive. Comparing multiple lenders and preparing your finances before applying can help you find a more suitable home loan offer.
- Maintain a strong credit profile: A higher CIBIL score, such as 750 or above, may improve your chances of approval and help you qualify for more competitive home loan terms. However, lenders consider several factors in addition to your credit score.
- Compare offers from multiple lenders: Compare home loan interest rates, processing fees, repayment tenures, prepayment conditions and other applicable charges across banks and housing finance companies before choosing a lender.
- Plan for a sufficient down payment: A higher contribution from your own funds can reduce the amount you need to borrow, resulting in a lower EMI and potentially reducing the total interest payable over the loan tenure.
- Choose an affordable EMI and tenure: Select a loan amount and repayment tenure that keep your EMI manageable alongside your existing expenses and financial commitments. Avoid borrowing the maximum amount simply because you are eligible for it.
- Avoid multiple loan applications in a short period: Applying with several lenders at the same time can result in multiple hard enquiries on your credit report. Compare your options first and apply selectively with lenders whose eligibility requirements you are more likely to meet.
- Check your credit report before applying: Review your credit report for incorrect personal information, accounts or repayment records and raise a dispute with the relevant credit bureau if you identify an error. A clean and accurate credit profile can make the home loan application process smoother.
Documents Required for Home Loan
For Salaried Individuals
- Aadhaar Card / PAN Card
- Address Proof
- Salary Slips (last 3 months)
- Bank Statement (last 6 months)
- Employment Proof
For Self-Employed Individuals
- Aadhaar Card / PAN Card
- Address Proof
- ITR (last 2 years)
- Business Proof (GST, Registration Certificate)
- Bank Statement
Property Documents
- Agreement to Sell or Sale Deed
- Property Title Deeds and Ownership Documents
- Approved Building Plan or NOC, where applicable
- Allotment Letter or Builder-Buyer Agreement
- Property Tax Receipts and other supporting documents, where applicable
Personal Loan Eligibility
For Salaried Individuals
Age:Typically 21–65 years
Minimum Salary: ₹15,000 – ₹25,000/month
or higher
Employment: Salaried (private/public/MNC)
Experience: 1 year (6 months in current job)
CIBIL Score: 700+
For Self-Employed Individuals
Age: 21 – 65 years
Minimum Income: ₹2–2.5 Lakhs/year
Business Vintage: 2–3 years
Business Type: Proprietor/Partner/Director
CIBIL Score: 700+
CIBIL Score Requirements for Home Loans
There is no single minimum CIBIL score that guarantees approval for a home loan. Each bank and housing finance company has its own eligibility criteria, and lenders may also consider your income, employment or business stability, existing EMIs, repayment history, down payment and the legal and financial aspects of the property before making a lending decision.
As a general guide, a CIBIL score of 750 or above is often considered favourable when applying for a home loan. A strong credit profile may improve your chances of approval and help you qualify for more competitive interest rates, subject to the lender’s policies and your overall financial profile.
A lower CIBIL score does not automatically mean that you cannot get a home loan. Some lenders may consider applicants with lower scores, depending on their income, repayment capacity, credit history and other eligibility factors. However, a lower score may make approval more difficult or result in less favourable loan terms.
| CIBIL Score | General indication |
|---|---|
| 750+ | Generally considered a strong credit profile |
| 700–749 | May qualify with many lenders, depending on other factors |
| 650–699 | Approval may be more difficult or terms may be less favorable |
| Below 650 | Home loan options may be limited; eligibility depends on the lender’s risk assessment |
These score ranges are only indicative and should not be treated as fixed lender requirements. Your actual eligibility depends on the lender’s criteria, income stability, existing financial obligations, property valuation and legal verification.
Before applying, check your CIBIL score and credit report, compare suitable home loan offers and review each lender’s eligibility requirements. Avoid submitting multiple applications without comparing your options first. If your credit profile needs improvement, consider reducing outstanding debt and correcting any errors in your credit report before applying.
Home Loan Interest Rates & Other Charges
Compare home loan interest rates, processing fees, prepayment conditions and other applicable charges offered by leading banks and housing finance companies in India.
Interest Rate
Starting From
7.10% p.a.*
FEES & CHARGES
| Particular | Typical Charges |
|---|---|
| Processing Fee | Up to 4% of loan amount |
| Prepayment Charges | 2%–5% (varies by lender) |
| Foreclosure Charges | May apply on fixed-rate loans |
| Penal Interest | Up to 2% per month |
| EMI Bounce Charges | ₹300–₹750 per instance |
| Duplicate Statement | As per lender policy |
| Stamp Duty | As per state laws |
Note: Charges vary across lenders and loan products. Check the lender’s latest schedule of charges, sanction letter and loan agreement before applying.
How to Apply for a Personal Loan
Compare Home Loans
Compare interest rates, fees, repayment tenures and eligibility requirements.
Click Apply
Choose your preferred loan and start application.
Fill Details
Enter your personal and income details.
Upload Documents
Submit KYC and financial documents online.
Get Loan Approval and Disbursal
Receive funds directly in your bank account quickly.
Home Loan EMI Calculator
Use the Paisafox Home Loan EMI Calculator to estimate your monthly EMI before applying for a home loan. Enter your loan amount, annual interest rate and repayment tenure to calculate your estimated monthly instalment, total interest payable and total repayment amount.
How is Home Loan EMI Calculated?
Where:
• P = Principal loan amount
• R = Monthly interest rate (Annual Interest Rate ÷ 12 ÷ 100)
• N = Loan tenure in months
Sample EMI Calculation
Example:
Loan Amount: ₹50,00,000
Interest Rate: 8.5% per annum
Loan Tenure: 20 years (240 months)
Monthly Interest Rate (R) = 8.5 ÷ 12 ÷ 100 = 0.0070833
Estimated EMI = ₹43,391 per month
Total Repayment = ₹1,04,13,879
Total Interest Payable = ₹54,13,879
Note: This calculation is illustrative and assumes a constant interest rate throughout the tenure. Your actual EMI and total interest may differ depending on the lender’s rate, loan terms and any changes in a floating interest rate.
Types of Home Loans in India
Home loans are available for different housing needs and property-related expenses. Depending on your requirements, financial profile and eligibility, you can choose from several types of home loans offered by banks and housing finance companies in India.
Home Purchase Loan
A home purchase loan helps you buy a new or resale residential property, such as a house or flat.
Home Construction Loan
A home construction loan helps finance the construction of a house on a plot owned by you.
Plot Purchase Loan
A plot loan helps you purchase a residential plot on which you may plan to construct a house.
Top-up Personal Loan
A home improvement loan helps fund eligible renovation and improvement work.
Home Extension Loan
A home extension loan helps finance eligible additions to an existing residential property, such as constructing an additional room, adding a floor or expanding the living area.
Home Loan Balance Transfer
A home loan balance transfer allows you to transfer your outstanding home loan from one lender to another, potentially to obtain a lower interest rate or more suitable repayment terms.
Common Uses of a Home Loan
A home loan helps eligible borrowers finance major residential property expenses without paying the entire cost upfront. Depending on the loan product and lender’s terms, it may be used to purchase a property, construct a house or carry out eligible improvements to an existing home.
Here are some of the common purposes for which people take a home loan:
Buying a new house or flat: Finance the purchase of an eligible residential property from a builder or developer, subject to the lender’s approval and applicable property checks.
Purchasing a resale property: Buy an existing house or apartment, provided the property’s title, legal documentation and other relevant details meet the lender’s requirements.
Constructing a house: Finance the construction of a residential home on an eligible plot, with disbursal potentially linked to construction progress.
Purchasing a residential plot: Obtain financing for an eligible residential plot, subject to the lender’s land-use, location and construction-related conditions.
Renovating an existing home: Fund eligible improvements, repairs or upgrades through a home improvement loan or another suitable loan product.
Extending an existing property: Finance eligible additions to your home, such as an additional room or floor, subject to approved plans and lender conditions.
Transferring an existing home loan: Move your outstanding home loan to another lender if the new offer provides worthwhile savings or more suitable repayment terms.
Purchasing an under-construction property: Finance an eligible property being developed by a builder, with disbursal generally linked to the construction stage and the lender’s requirements.
Home Loan Mistakes You Should Avoid
A home loan is a long-term financial commitment, and choosing the wrong loan or overlooking important details can increase your borrowing costs. Before applying for a home loan, avoid these common mistakes:
- Focusing only on the EMI: A lower EMI may result from choosing a longer repayment tenure, which can increase the total interest payable. Compare both your monthly instalment and the overall cost of the loan.
- Skipping the lender comparison process: Banks and housing finance companies may offer different interest rates, processing fees, repayment tenures and loan conditions. Compare multiple suitable offers before choosing a lender.
- Ignoring the down payment and additional expenses: Apart from your down payment, budget for stamp duty, registration fees, legal charges, property-related expenses and other applicable costs. These expenses may not be covered by your home loan.
- Borrowing more than you can comfortably repay: Consider your income, existing EMIs, household expenses and future financial commitments before deciding how much to borrow. Leave sufficient room in your budget for unexpected expenses.
- Overlooking property verification: Check the property's ownership documents, legal status, approved building plans and other relevant records before committing to a purchase. A lender's approval does not replace your own legal due diligence.
- Ignoring the loan agreement and additional charges: Review the interest-rate terms, processing fees, prepayment conditions, penal charges and other applicable costs. Understand how changes in a floating interest rate could affect your EMI or repayment tenure.
- Choosing a longer tenure without considering the total cost: A longer repayment period can reduce your monthly EMI but generally increases the total interest paid. Choose a tenure that balances affordability with your long-term financial goals.
- Making too many loan applications: Multiple applications may result in several hard credit enquiries. Compare lender eligibility criteria first and apply selectively.
Why Home Loan Applications Are Rejected
A home loan application may be rejected even when you meet some of the lender’s basic eligibility requirements. Lenders assess your financial profile, repayment capacity and the property being financed before making a decision. Understanding common reasons for rejection can help you prepare a stronger application.
- Low CIBIL score or poor credit history: A low credit score, repeated late payments or defaults may reduce your chances of approval or affect the terms offered by the lender.
- High existing EMIs: If a substantial portion of your income is already committed to existing loans and other obligations, the lender may determine that you cannot comfortably manage an additional home loan EMI.
- Insufficient or unstable income: Your income may be inadequate for the requested loan amount, or your employment or business income may not meet the lender's requirements for stability and repayment capacity.
- Incomplete or incorrect documentation: Missing income proofs, inconsistent personal details, discrepancies in bank statements or incomplete property documents can delay the application or contribute to rejection.
- Not meeting the lender's eligibility criteria: Banks and housing finance companies have different requirements concerning age, income, employment history, credit profile, location and other factors.
- Property-related legal or technical issues: Unclear ownership, disputed title, unapproved construction, missing permissions or a property that does not meet the lender's requirements can prevent approval.
- Insufficient down payment or loan-to-value eligibility: If your available contribution is inadequate or the requested loan exceeds the amount the lender is willing to finance against the property's assessed value, the sanctioned amount may be reduced or the application may be declined.
- Too many recent credit applications: Multiple recent applications can generate several hard enquiries and may influence how a lender assesses your credit profile alongside other factors.
- Unfavourable repayment history: Defaults, overdue accounts or other adverse credit information may affect the lender's assessment of your willingness and ability to repay.
Frequently Asked Questions
What is a home loan?
A home loan is a secured loan offered by banks and housing finance companies to help eligible borrowers purchase, construct or improve a residential property. The property generally serves as security for the loan, which is repaid through monthly instalments (EMIs) over an agreed tenure.
How long does it take to get a home loan?
The time required to obtain a home loan depends on the lender, the applicant’s financial profile and the property’s legal and technical verification. An initial eligibility assessment or in-principle approval may be available quickly, but final approval and disbursal can take longer because of document checks, property valuation and other formalities.
What is the minimum salary required for a home loan?
There is no single minimum salary requirement for all home loans in India. Each lender sets its own eligibility criteria based on income, location, existing EMIs, credit history and the requested loan amount. Some lenders accept relatively modest monthly incomes, but the amount you can borrow depends on your overall repayment capacity.
What CIBIL score is required for a home loan?
There is no universal minimum CIBIL score required by every home loan lender. A score of 750 or above is generally considered favourable and may help you qualify for competitive terms. However, lenders also assess your income, repayment history, existing financial obligations and property details before making a decision.
Can self-employed individuals apply for a home loan?
Yes. Self-employed individuals, including eligible business owners, proprietors, partners and professionals, can apply for a home loan. Lenders may assess business continuity, income tax returns, bank statements, financial statements and other documents to determine income stability and repayment capacity. Specific requirements vary by lender.
What is the interest rate on home loans?
Home loan interest rates vary by lender, loan product, credit profile, loan amount and prevailing market conditions. Some lenders offer floating rates linked to an external benchmark, while fixed-rate or fixed-period options may also be available on certain products. Compare the latest published rates and applicable fees on the lender’s official website before applying.
Can I get a home loan with a 650 CIBIL score?
It may be possible, but approval can be more difficult with a CIBIL score of 650. Some lenders may consider applications with lower scores depending on income, repayment capacity, credit history, down payment and property details. Others may require a stronger credit profile. Check lender-specific eligibility criteria and consider improving your credit profile before applying.
Does CIBIL score affect home loan interest rates?
Yes, your CIBIL score can influence a lender’s assessment of your creditworthiness and may affect the interest rate or other terms offered. However, the score is only one factor. Income stability, existing obligations, loan amount, property details and the lender’s pricing policy can also influence the final offer. A high score does not guarantee approval or a particular interest rate.
How much home loan can I get on a ₹30,000 salary?
The home loan amount you may qualify for on a ₹30,000 monthly salary depends on your existing EMIs, age, credit score, repayment tenure, interest rate and the lender’s eligibility criteria. The lender also considers the property’s value and your available down payment. Use a home loan eligibility calculator to estimate your borrowing capacity before applying.
Can I get a 100% home loan in India?
Generally, banks and housing finance companies do not finance 100% of a property’s purchase cost through a standard home loan. The permitted loan amount depends on applicable regulations, the property’s value and the lender’s assessment. Borrowers generally need to arrange the remaining amount, along with applicable property-related expenses.
Can I repay my home loan early?
Yes. Borrowers can generally make part-prepayments or repay their outstanding home loan early, subject to the loan agreement and applicable rules. For eligible floating-rate loans to individuals, RBI rules restrict prepayment charges in specified circumstances. Check your lender’s terms before making a repayment.
What is the difference between a fixed and floating home loan interest rate?
A fixed interest rate generally remains unchanged for the period covered by the fixed-rate agreement, while a floating rate can change with the applicable benchmark and lender terms. A floating-rate loan’s EMI, repayment tenure or both may change when the interest rate is revised. Compare the terms carefully before choosing.