Want to know which is the Best Home loan provider in India for Jan 2022? Which is the cheapest home loan available in India on the basis of Interest Rates? Best home loan rates for 2022 in Chennai, Bangalore, Mangalore, Cochin, kerala, pondicherry, ahmedabad, delhi, mumbai, nashik, pune, gwalior, ranchi, chandigarh, ludhiana, Goa, hyderabad, warangal etc. At Deal4loans, We give you a chance to compare the best offerings in the market and make the best possible choice.
Latest Update as on 01.01.2022 – Union bank of India offer home loan at its all-time low 6.40% rate of interest to new customers as well as on balance transfers. More Info.
Home Loan applications received for rupees ₹ 419,027 crores till 20 January 2022
While comparing home loans, it is necessary to check some key facts from different lenders. The major key points of comparison when it comes to loans are as follows:
✔ Interest rates
✔ Processing fees
✔ Turnaround time
✔ Loan to value Ratio
However, you need to view the loan in the entire package and not just focus on individual elements. If a loan has a very low interest rate, the chances are the fee structure is high.
Check and Compare Home Loan Interest Rates of Various Bank in India
Interest rate offered is the primary factor of comparison. It affects your monthly EMI and total amount payable. For a long duration loan it is advised to go for a home loan with low interest rate.
|SBI Home Loan||6.70 – 6.90%|
|HDFC Ltd||6.70 – 7.15%|
|ICICI Bank||6.95 – 7.60%|
|LIC Housing Finance||6.66 – 7.30%|
|PNB Housing||7.35 – 9.05%|
|Axis Bank||6.90% – 8.40%|
|Bank of Baroda||6.85 – 7.85%|
|Canara Bank||6.90 – 8.90%|
|Aadhar Home loan||N.A|
|Union Bank Home loan||6.40 – 7.00%|
Best Banks Which Offers Home Loans in India
|S.No||Bank Name||Market Percentage|
|1||SBI Home Loan||34.00%|
|5||PNB Housing Finance||6.23%|
|6||IDBI Home Loan||4.67%|
Eligibility Calculator: How much loan am I eligible for?
Looking for how much loan amount you can get from bank for your dream home – Don’t wait!!! Check with Home Loan Eligibility calculator.
Most of the customers first prefer to choose the property according to their needs and priorities and then apply for the loan among the options available. However, it may happen that they are not eligible for the larger amount of home loan. Therefore, when you finalize any home, it is essential to know whether you can obtain loan on that property and the exact amount you can apply for. It will prepare you in advance before buying the home and avoid problems in the future. It may happen that the properties under construction are not liable assets for obtaining home loan. Therefore, it is mandatory to check these details with your bank before you decide to buy a home.
Ease of Home Loan Processing
The procedure to apply for home loan is a bit time consuming. You have to submit a large set of income and property related documents and the approval of the loan differs from bank to bank. There are many agents who specialize in the bank processes, but the credibility of such agents is under question. So, to choose the best bank to apply for home loan as per your convenience, you must do a little research in advance.
Keeping in mind the above things, you can surely save yourself from wasting your time as well as from fraud agents. We at Deal4loans are available for your service through this process and to guide you in making a diligent choice between Good and Bad loan.