Home Loan Madurai – Interest Rates Nov 2020, Eligibility, EMI, Apply

Apply for Home Loan in Madurai online at lowest interest rates 2020. Check Home Loan in Madurai eligibility criteria, list of documents and bank branches only at Deal4loans.

Highlights on Home Loans in Madurai

Interest Rates 6.85% – 21.00%
Processing Fees 0 to 2.00% of the loan amount + GST
Pre Payment Charges NIL for floating, Fixed Rates check with Bank
Repayment Period 3 to 30 years
Part Payment Facility Yes, all bank
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Compare Home Loan Rates in Madurai 2020

SBI 6.95 – 7.70%
HDFC Ltd 6.95 – 7.50%
ICICI Bank 6.95 – 8.05%
LIC Housing Finance 6.90 – 7.30%
DHFL Housing 8.70%
Axis Bank 7.75 – 8.40%
Bank of Baroda 6.85 – 7.85%
Canara Bank 6.90 – 8.90%
Aadhar Home loan N.A

Home Loan Tools in Madurai

Eligibility Criteria for Home Loans in Madurai

Age 21 – 58 years
Income 1.80 lakh annually for salaried, 3 Lakh ITR for Self Employed
Job Stability Minimum 2 Years for salaried, 3 years for self employed
Eligible for Joint Home Loan Brother, Mother, Father, Spouse
Loan amount 2 lakh to 50 crore

Home Loan EMI Calculator Madurai

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Checklist of Documents for Home Loan in Madurai

  • List of papers / documents applicable to all applicants:
  • Completed Home loan application
  • 3 passport size photographs (including those affixed in loan application)
  • Proof of identification: Electoral ID Card / Passport / Driving License / PAN card.
  • Proof of residence: Electoral ID Card / Passport / Electricity Bill / Telephone Bill.
  • Proof business address, in case of non- salaried borrowers
  • Statement of bank account for the last six months
  • Signature identification from present bankers
  • Personal Assets and Liabilities Statements in Bank’s standard format.
  • Brief write up of securities charged in respect of other loans availed from our Bank/other
  • Banks/ Auto & Housing Loan Companies /other sources.

For the last few years, the temple town Madurai has become a preferred option for investment in property. To fulfill your dream, a number of banks and financial institutions are ready to lend you. With easy steps one can get a home loan at low interest.

Unlike other cities, Madurai has 80% end users and 20% investors. Areas like SS Colony and Byepass Road are expected to yield good profits in coming years.

The other lucrative feature of investing in Madurai is the rental returns. One can expect Rs. 6000-9000 for 2BHK unit while Rs. 8000-15000 for 3BHK apartment. Allured by this a host of people that includes IT professionals and government officials are investing in real estate in big way.

One of the interesting trend in this city that the builders themselves are retaining 2-3 units from rental purpose.
Most of the experts in real estate industry are confident about 15-20% return annually. Most of the property in Madurai is Rs.20L to 40L range; nevertheless cheap property with Rs. 13 Lac is available.

Major Home Loan Provider Banks Branch List in madurai

Central Bank of India: Meenakshi Kovil St, Madurai Main, Madurai, Tamil Nadu 625001
State Bank of Mysore: N Veli St, Simmakkal, Madurai Main, Madurai, Tamil Nadu 625001
State Bank Of India: 7-A, W Veli St, Madurai, Tamil Nadu 625001
ICICI Bank: 216, North Masi Street, North Masi Street, Near Canara Bank, Madurai Main Road, Madurai, Tamil Nadu 625001
Kotak Mahindra Bank: 1, Mela Perumal Maistry St, Simmakkal, Madurai Main, Madurai, Tamil Nadu 625001
Bank Of Maharashtra: 110/110a, Nethaji Road, Nethaji Road, Netaji Rd, Madurai Main, Madurai, Tamil Nadu 625001

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Top Banks for Home Loans in India
Banks Interest Rates
SBI Home Loan 6.95% - 7.45%
HDFC Ltd Home Loan 6.95% - 7.50%
ICICI Bank Home Loan 6.95% - 8.05%
LIC Housing Home Loan 6.90% - 7.30%
DHFL Home Loan 9.75%
Axis Bank Home Loan 7.75% - 8.40%
Bank of Baroda Home Loan 6.85% - 7.85%
Canara Bank Home Loan 7.35% - 7.80%
Aadhar Home loan N.A