Home loan interest rates depend on an applicant’s credit score, loan amount, LTV ratio, monthly income, job stability, and employer profile.
| Name of Lender | Loans up to ₹30 Lakh | Loans ₹30 Lakh – ₹75 Lakh | Loans Above ₹75 Lakh |
|---|---|---|---|
|
Bank of India |
7.35%–10.10% p.a. |
7.35%–10.10% p.a. |
7.35%–10.35% p.a. |
|
State Bank of India |
7.50%–8.95% p.a. |
7.50%–8.95% p.a. |
7.50%–8.95% p.a. |
|
Punjab National Bank |
7.50%–9.35% p.a. |
7.45%–9.25% p.a. |
7.45%–9.25% p.a. |
|
Canara Bank |
7.50%–10.25% p.a. |
7.45%–10.25% p.a. |
7.40%–10.15% p.a. |
|
HDFC Bank |
7.90% p.a. onwards |
7.90% p.a. onwards |
7.90% p.a. onwards |
|
Bajaj Housing Finance |
7.35% p.a. onwards |
7.35% p.a. onwards |
7.35% p.a. onwards |
|
ICICI Bank |
7.70% p.a. onwards |
7.70% p.a. onwards |
7.70% p.a. onwards |
|
Axis Bank |
8.35%–11.90% p.a. |
8.35%–11.90% p.a. |
8.35%–11.90% p.a. |
|
Federal Bank |
8.75% p.a. onwards |
8.75% p.a. onwards |
8.75% p.a. onwards |
|
Kotak Mahindra Bank |
7.99% p.a. onwards |
7.99% p.a. onwards |
7.99% p.a. onwards |
|
IDFC FIRST Bank |
8.85% p.a. onwards |
8.85% p.a. onwards |
8.85% p.a. onwards |
|
IDBI Bank |
7.65% p.a. onwards |
7.65% p.a. onwards |
7.65% p.a. onwards |
|
RBL Bank |
8.20% p.a. onwards |
8.20% p.a. onwards |
8.20% p.a. onwards |
|
Tata Capital Housing Finance |
7.75% p.a. onwards |
7.75% p.a. onwards |
7.75% p.a. onwards |
|
PNB Housing Finance |
8.25%–11.50% p.a. |
8.25%–11.50% p.a. |
8.25%–11.50% p.a. |
|
Sammaan Capital (Indiabulls HF) |
8.75% p.a. onwards |
8.75% p.a. onwards |
8.75% p.a. onwards |
|
L&T Finance Limited |
8.65% p.a. onwards |
8.65% p.a. onwards |
8.65% p.a. onwards |
|
India Shelter Home Loan |
10.00%–24.00% p.a. |
10.00%–24.00% p.a. |
10.00%–24.00% p.a. |
|
Godrej Housing Finance |
8.55% p.a. onwards |
8.55% p.a. onwards |
8.55% p.a. onwards |
|
Home First Finance |
11.90%–15.00% p.a. |
11.90%–15.00% p.a. |
11.90%–15.00% p.a. |
|
Easy Home Finance |
8.99%–18.00% p.a. |
8.99%–18.00% p.a. |
8.99%–18.00% p.a. |
Identity Proof
Address Proof
Financial Documents – Employment Or Business Proof
Property Documents
Other Documents
The following mentioned are criteria to apply for mortgage loan:
For salaried applicants
For self- employed
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You can apply for a home loan directly through banks or housing finance companies (HFCs). Many lenders now allow online applications through their websites, mobile apps, or internet banking. You can also use online financial marketplaces to compare offers from multiple lenders at once.
Home loan rates currently start from around 7.35% per annum. The exact rate depends on your credit score, loan amount, employment profile, property value, and loan-to-value (LTV) ratio.
Both resident and non-resident Indians can apply. Loans are available to salaried and self-employed professionals or non-professionals.
Document requirements vary based on whether you are buying a new property, an under-construction home, or building one yourself. It generally includes property title, sale agreement, and approvals from local authorities.
Eligible loan amounts depend on your EMI-to-income ratio and the LTV ratio. Most lenders prefer total EMIs to be within 50–60% of your monthly income. You can use online home loan eligibility calculators to estimate your loan.
Look for the lowest interest rate to save on interest costs. Also consider loan tenure, processing fees, approval time, and disbursement efficiency. Online marketplaces can help compare offers easily.
Some lenders use the Multiplier Method (up to 72 times your gross monthly income) or the EMI/NMI Ratio (EMIs within 55–60% of income) to calculate eligibility. Some combine both methods.
Lenders evaluate your repayment capacity, usually preferring EMIs—including the proposed home loan—to be within 55–60% of your monthly income. Online EMI calculators can help estimate affordable loan amounts.
It depends on the lender. Some lenders approve loans at higher interest rates for low credit scores. Online marketplaces can help you compare options.
A score of 730 or above improves your chances and may qualify you for lower interest rates. Loans are still available at higher rates for lower scores.
Assuming an interest rate of 8.5% p.a. and a tenure of 20 years, the EMI would be approximately Rs. 17,356. Use an EMI calculator to check different rates or tenures.
Your spouse or blood relatives—parents, siblings, or children—can co-sign. All co-owners of the property must be co-applicants.
Floating rate loans have no prepayment penalty. Fixed rate loans may have a prepayment fee of around 2–4%.
It allows you to transfer your existing loan to another lender with lower interest rates or better terms, helping reduce EMIs and interest costs.
Yes, if your repayment capacity, credit profile, and property eligibility satisfy the lender.
Typically 1–2 weeks, but it varies depending on lender processes, your credit profile, and the property.
Yes. Floating rate loans have no charges; fixed rate loans may have prepayment fees.
Yes. Principal repayments are eligible under Section 80C, and interest payments under Section 24(b) of the Income Tax Act.
Most lenders allow converting between fixed and floating rates, usually for a conversion fee.
Beneficiaries can avail up to Rs. 70,000 under the Pradhan Mantri Awas Yojana-Gramin scheme.
It’s a penalty for paying off a loan early. Floating rate loans have no charges, while fixed rate loans may charge a fee if foreclosed from the borrower’s own funds.
RBI guidelines require lenders to disclose all fees, including processing, service charges, and changes in terms. Always check the schedule of charges.
NOI informs statutory authorities about property purchase or home loan availing. It helps prevent property fraud, duplicate registrations, and multiple loans on the same property.
Yes, top-up loans can be used for home improvement, purchase of a new property, or personal needs, depending on your credit profile and repayment history.
No, it’s not mandatory. However, lenders may recommend it to ensure repayment in case of death, disability, or property damage.