Get the Right Home Loan, Without Confusion
A home loan empowers individuals to buy, construct, or renovate a residential property through structured monthly repayments. At BankerMart, we assist borrowers with eligibility checks, bank comparisons, documentation, and disbursement guidance so they make home loan decisions with confidence.
Get Free ConsultationWhat is a Home Loan?
A home loan is a secured loan provided by banks or NBFCs to help individuals purchase, build, or renovate a residential property. The lender/financial institution provides a significant share of the property's cost, up to 80%, and in some cases, up to 90%, whereas the individual taking the loan is responsible for paying the required preliminary sum, also known as the down payment. The amount borrowed is paid back in monthly installments called EMIs, which cover both the principal and interest over a specified period called tenure.
Who is it For?
Home loans are suitable for salaried employees, self-employed professionals, business owners, and eligible NRI applicants planning to own residential property in India.
Loan Amount Range
Home loan amounts generally start from ₹10 lakhs and can extend to ₹16 crore rupees, depending on income, repayment capacity, and property value.
Tenure Range
Home loan repayment tenures usually range between 5 years and 30 years depending on lender policy and borrower eligibility.
Interest Rates
Home loan interest rates generally start from 7.15% and vary based on borrower profile, lender policies, and prevailing market conditions.
Why Choose a Home Loan Advisor?
Buying a home takes considerable investment, and an average Indian needs financial support for the same. Fortunately, India has a number of private and public sector banks offering easy home loans to aspiring homeowners at affordable interest rates starting as low as 8.50% per annum. Not just banks, there are numerous Non-Banking Financial Companies, also known as NBFCs, that offer a variety of housing loan schemes to applicants at a nominal processing fee starting at 0.25% of the loan amount plus taxes. The home loan interest rates for all banks may vary, but in general, they all offer similar home loan schemes, such as home/plot purchase loans, construction loans, renovation/extension loans, balance transfer home loans, and top-up home loan schemes. Some banks and NBFCs offer hassle-free home loans to NRIs and PIOs with minimum documentation and PMAY schemes to the economically weaker sections of society at subsidized rates. Reach out to the BankerMart team to get the lowest interest rates with the most trusted banking partners.
Lender Comparison
| Parameter | Public Sector Bank | Private Bank | NBFC |
|---|---|---|---|
| Interest Rate Approach | Stable and policy linked | Market responsive | Profile-based |
| Documentation Handling | Process driven | Relationship-driven | Flexible |
| Self-employed Support | Selective | Moderate | Strong |
| Turnaround Time | Moderate | Faster | Fast |
| Negotiation Scope | Limited | Available | Case-specific |
At BankerMart, our advisor assesses your profile, matches it with suitable lenders, and handles coordination across banks. This reduces confusion and improves approval confidence.
🏦 Bank List for Home Loans
The maximum loan amount offered by the top banks in India is up to 90% of the property cost and might go as high as Rs. 5 crores. Eligible applicants can expect a home loan from a bank for a maximum repayment tenure of up to 30 years. Most of these banks offering the best home loans in India require minimum documentation to smoothen the application procedure for the applicants. Have a look at the list of the best banks for home loans worth considering to realize your dream of buying a home:
Home Loan Interest Rates and Charges Comparison
Whether you want to buy, renovate, construct or improve a home, you need sufficient funds, and this is where you think of borrowing money as a home loan from Banks and Non-Banking Financial Companies (NBFCs). These financial lenders charge a home loan interest rate when lending money to borrowers. The home loan interest rate can vary from one bank or NBFC to another. The lowest home loan interest rate in India, at the moment, is as low as 8.40% making it an affordable journey for aspiring homeowners. To get the best home loan interest rates, applicants must first understand the basic components of a home loan like loan tenure, principal loan amount, and repayment capacity. Have a look at the best home loan interest rate in India offered by the prominent banks and NBFCs:
| Bank Name | Interest Rate | Processing Fee | Loan Amount & Tenure |
|---|---|---|---|
| SBI Bank | 7.25% p.a. onwards | 0.35% (Min ₹3,000 + GST) | Up to 2 years |
| HDFC Bank | 7.35% p.a. onwards | 0.25% (Min ₹3,000 + GST) | Up to 2 years |
| ICICI Bank | 7.40% p.a. onwards | 0.25% (Min ₹3,000 + GST) | Up to 2 years |
| PNB Bank | 7.20% p.a. onwards | 0.01% (Min ₹3,000 + GST) | Up to 2 years |
| BOB Bank | 7.25% p.a. onwards | 0.35% (Min ₹3,000 + GST) | Up to 2 years |
| Axis Bank | 7.65% p.a. onwards | 0.56% (Min ₹3,000 + GST) | Up to 2 years |
| Kotak Bank | 7.75% p.a. onwards | 0.60% (Min ₹3,000 + GST) | Up to 2 years |
| Canara Bank | 7.15% p.a. onwards | 0.05% (Min ₹3,000 + GST) | Up to 2 years |
| Indian bank | 7.40% p.a. onwards | 0.25% (Min ₹3,000 + GST) | Up to 2 years |
| Central Bank | 7.10% p.a. onwards | 0.05% (Min ₹3,000 + GST) | Up to 2 years |
| BOI | 7.10% p.a. onwards | 0.05% (Min ₹3,000 + GST) | Up to 2 years |
| IDFC Bank | 7.65% p.a. onwards | 0.56% (Min ₹3,000 + GST) | Up to 2 years |
| YES Bank | 7.65% p.a. onwards | 0.60% (Min ₹3,000 + GST) | Up to 2 years |
| Union Bank | 7.40% p.a. onwards | 0.50% (Min ₹3,000 + GST) | Up to 2 years |
* Please note that rates and charges are indicative and may change based on lender policies and borrower assessment.
🏢 NBFC List for Home Loans
Apart from the banks, applicants can consider home loans from NBFCs. Some top banks like ICICI, Axis, and PNB have started their NBFCs, offering financial services such as home loans to eligible borrowers. The best NBFC for home loans in India offers faster loan processing and flexible repayment options to both salaried and self-employed borrowers. The eligibility criteria to apply for an NBFC housing loan consist of simple parameters like age, nationality, employment status, minimum income earned and CIBIL score of the applicant. Have a look at the best home loan NBFC list in India that offers affordable and hassle-free housing loan schemes:
Home Loan EMI Calculator
Calculating the home loan Equated Monthly Installments (EMIs) is one of the most crucial parts of the home loan journey for any borrower. A home loan EMI calculator makes these calculations easy, accurate, and convenient for borrowers, who can calculate their monthly repayments on a housing loan by simply adding the key variables such as the loan amount, interest rate, and loan tenure, etc. to the Home Loan EMI Calculator tool. A home loan EMI calculator empowers borrowers to make informed decisions, ensuring that their home loan commitments align with their budgetary constraints. Additionally, a home loan monthly EMI calculator helps them to compare loan options with much more clarity and accuracy, which in turn assists them in planning their finances effectively. Have a look at the home loan EMI Calculator online in India from various Banks and NBFCs for getting the best estimates of the monthly EMIs that will be applicable and get help to make the monthly budget planning with a housing loan:
Documents Required
Salaried Individuals
- Identity proof
- Address proof
- Salary slips
- Bank statements
- Employment confirmation
Self-Employed / Business
- Identity proof
- Business registration
- Income tax returns
- Audited financials
- Bank statements
NRI Applicants
- Passport & Visa
- Overseas address proof
- Employment contract
- Salary credits
- Property documents
Nodal officer details:
Reshma Sethi
11th Floor, Tower A, Peninsula Business Park,
Ganpatrao Kadam Marg, Lower Parel,
Mumbai, Maharashtra – 400013
Home Loan Balance Transfer
A Balance Transfer (BT) scheme allows individuals to transfer their outstanding home loan balance from one lender to another lender with a lower interest rate and better loan terms. This financial strategy helps in reducing interest payments. It's particularly advantageous for those who want flexible repayment options and lower monthly installments. Some lenders also provide additional benefits like top-up loans or fee waivers on processing, making the balance transfer process more cost-effective. Have a look at the list of banks and NBFCs in India that offer hassle-free balance transfer home loan schemes:
Loan Against Property
A Loan Against Property (LAP) scheme allows individuals to leverage their owned residential or commercial property to secure a loan from a financial institution. This type of loan is beneficial for property owners who require substantial funds for various purposes, such as business expansion, higher education, debt consolidation, or personal expenses. LAP offers lower interest rates compared to unsecured loans, making it a cost-effective borrowing option for those seeking larger amounts with flexible repayment terms. Have a look at the list of banks and NBFCs in India that offer hassle-free loans against property:
Common Challenges and How We Solve Them
Low Credit Score
Our advisors identify lenders that consider overall repayment behaviour and income stability.
High FOIR
Tenure optimisation and co-applicant options are evaluated to improve repayment comfort.
Self-Employed Income Issues
Income is structured using financial records and consistent banking patterns.
Under-Construction Property
Applications are aligned with lenders approved for the specific project.
Builder-Specific Bank Approvals
We route applications to banks already comfortable with the builder profile.
City List for Home Loans
The real estate market of India has been able to grow by leaps and bounds. The percentage of homeownership has also grown exponentially, all thanks to the best home loan lenders in India, ready to help applicants buy a home of their own in their chosen city. BankerMart is proud to partner with all the top banks and NBFCs, offering lucrative home loans in India in all the top cities. Home loan interest rates may vary from city to city and bank to bank, but they all aim to offer affordable housing loan schemes at nominal processing charges.
Frequently Asked Questions on Home Loans
Find answers to common questions about home loans:
Several lenders offer benefits for eligible first-time home buyers. Partial or full repayment is permitted based on lender policy.
Balance transfer options are available subject to eligibility assessment. Self-employed applicants qualify for home loans based on income stability and records.
Soft eligibility checks usually leave credit records unaffected. Sanction timelines typically range between two and four weeks.
You can calculate home loan EMI with the help of EMI calculators.
Tax benefits apply on principal and interest as per applicable laws.
Floating rates change based on benchmark movements.
There are a number of things that affect the final rate you get, such as your credit score, the amount of the loan, and whether the interest rate is fixed or floating.