Best Home Loan In India 2019 @ 8.55% June

Want to know which is the Best Home loan provider in India for June 2019? Which is the cheapest home loan available in India on the basis of Interest Rates? Building or buying home is a dream of every person. Do you want to fulfill your dream of having your own house? Now, changing your dream into reality is possible with Deal4loans! We believe in loans by choice and not by chance. 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 15 June 2019 – SBI and Hdfc ltd cut interest rates on home loans. New Lowest Rate for home loan in market are 8.55% for women upto 30 lakh of loan amount from SBI. 8.60% for other.

Home Loan applications received for rupees ₹ 419,027 crores till 26 June 2019

GET INSTANT HOME LOAN QUOTES ONLINE & your CIBIL score absolutely FREE.

Loan Amount
Occupation

Annual Income

City

54,02,013 loan quotes taken till now.
  • 54 lakh customers serviced to get best Loan deals with deal4loans. Deal4loans views Published @ yourstory.com
  • As RBI cuts rate, should you go for fixed home loan Deal4loans views Published @ Economic Times online.

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.

Best Home Loan Interest rates for the month of June 2019

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.

Bank NameInterest Rate
HDFC ltd Home Loan8.65% – 9.00%
ICICI Home Loan9.05% – 9.25%
SBI Home Loan8.55% – 9.10%
PNB Housing Finance9.05% – 9.30%
Axis Bank Home Loan8.90% – 9.15%
LIC Housing Finance8.60% – 9.05%
PNB Home Loan8.70% – 8.75%
DHFL Home Loan8.70%
Indiabulls Home Loan8.80% – 10.25%
Aadhar Home LoanN.A

Let’s first know which bank are currently favorite of home loan borrowers as per ICRA

S.NoBank NameMarket Percentage
1SBI Home Loan34.00%
2HDFC Ltd24.13%
3LIC Housing05.83%
4ICICI Bank13.10%
5PNB Housing Finance6.23%
6IDBI Home Loan4.67%
7Axis Bank4.22%
8Others6.32%

 

Market Share of Banks in Home Loan

1. Share of home loans in Bank Lending is 11.00%

2. Size of Home Loan Industry is 13.5 lakh Lakh Crore in Fiscal Year 2018

Housing Finance Market

LenderLoans in CroreMarket Share
HDFC Ltd17600016.60%
SBI17089916.20%
ICICI Bank993279.40%
Axis Bank573355.40%
DHFL389643.70%
Can Fin92780.90%
GIC Housing72240.70%
LIC HFL114069
Indiabulls58224

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.

Trends of Home Loan Base Rates

Home Loan Processing fees of Major Banks in 2019

 

BankProcessing FeesPre Payment Charges
ICICI Bank0.50% – 1.00% of the loan amount or Rs. 1500/- (Rs. 2000/- for Mumbai, Delhi & Bangalore), whichever is higher + applicable Service Tax & SurchargeNil
HDFC Ltd0.5% or 10,000+service tax, whichever is higherNil
SBI Home Loan0.35% of loan amount + GSTNil
Axis BankUp-to 1% of the loan amount subject to minimum of Rs.10,000/-Nil
LIC HousingUp to 1 Crore : 10,000 + GST
1 Crore & above : 25,000 + GST
Nil
IDBI Home LoanNilNil
PNB Home Loans0.50% of the loan amountNil
Allahabad Bank0.50% of the loan amount or maximum of Rs 10,000/- + service taxNA
CitibankRs.5000 (Application fee)Nil
Syndicate Bank0.12% of the loan amount or maximum Rs 5,000NA
Punjab National BankNilNil
Bank of Baroda0.25% of the loan amount or maximum of Rs 20,000NA

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.

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