India’s Top 10 Low Interest Home Loan Providers | Cheap Home Loan options in India |

Home loans are available from bank and housing finance firms (HFCs) starting at 8.40% p.a. for terms as long as thirty years or loan amounts up to 90% of the cost of the house.

  • Banks and housing finance companies (HFCs) offer a variety of home loan programmers designed to increase home loan eligibility, lower monthly payments, waive EMIs, offer blended interest rates, and provide overdraft and balance transfer options.
  • Some financial institutions additionally provide house loan options for consumers with inadequate income documentation and for those looking for cheap housing.

Top 10 Banks in India for Home Loan | Lower Rates of Interest | 

Name of Bank / NBFCsFees (Processing)Rate of Interest (%)
HDFC Home Loan0.50% of the loan amount up to a maximum of Rs. 30008.50% to  9.00%
Bajaj Finserv Home Loan1.0% maximum of the loan’s amount plus any applicable GST8.50% to 14.00%
PNB Housing LoanBetween 2,500 and 15,000 rupees, or a maximum of 0.35% of the borrowed amount.8.75% to 11.15%
HSBC Home Loan1% maximum of the total loan amount plus any applicable taxes8.60% to 8.85%
LIC Housing FinanceA maximum of 1.0% of the borrowed total plus any applicable GST8.60% – 10.50%
SBI Home LoanA maximum of 0.35% of the borrowed amount plus any applicable GST9.15% – 9.65%
Axis Bank Home LoanA minimum of Rs.10000 and 1% of the borrowed amount are required.8.75% – 9.15%
Bank of Baroda Home LoanRs. 7,500 plus GST9.15% – 10.60%
L&T Housing Finance3% maximum of the total loan amount plus any applicable taxes8.60% to 8.75%
Aditya Birla Home LoanA maximum of 1.0% of the loan’s total plus any applicable GST8.75% to 14.00%
Data source: Open Internet Data | We do not Authentic the same |

Details of Loan Provider and Rate of Interest |

  • State Bank Of India: The biggest PSB in the nation, SBI, conducts meticulous property document verification. Rates: SBI Home Loan, however, is known for having the best rates available. 
  • SBI Home Loan key characteristics include
  • Fixed rate home loans are not something they offer.
  • Due to the account balance acting as the principle component, the interest paid is reduced as a result. The annual interest rate for highest gain is between 9.55% and 10.05%.
  • Interest rates are available at variable rates that range from 9.15% to 9.65% p.a.
  • Additionally, they provide a novel service known as SBI Highest Gain Home Mortgage or The overdraft Facility, which allows you to get a home loan in exchange for the extra money in the savings account you have.
  • Bank of Baroda:  Low and competitive interest rates are available on loans from Bank of Baroda. Only floating rate loans from the Bank of Baroda are available; rates vary between 9.15% to 10.60% per annum.
    • The fact that the financing can be authorized before the home for which payment is being requested is decided upon is a major benefit.
    • With the use of a specific product called Home Loan Advantage, extra money in a savings account is recognized as loan principal, lowering the interest rate that must be paid.
      • The longest possible duration of a loan for a house is 30 years; however, under certain terms and conditions, this term may be increased to 70 years.
      • Each and every Home Loan comes with complimentary accident insurance.
      • Applications are accepted for microloans up to Rs. 2 lakh.
      • If a home loan is obtained from Bank of Baroda, you will also have access to a credit card and receive a 0.25 percent car loan discount.
  • The Aditya Birla Investment Group: It funds your endeavour to build your dream house by offering loans with processing fees as low as 1% of the total amount of the loan and interest rate as cheap as 9.00% to 12.50% p.a. Loan amounts between 75% and 90% of the value of the property are available with a repayment duration of as long as thirty years.
  • Identity card, address verification, an original copy of the selling deed, a qualification certificate, an audited financial statement, and a P/L statement are required documents.
  • Age range for eligibility is 18 to 65.
  • Loan amounts between 75% and 90% of the value of the property are available with repayment duration of as long as thirty years. Loan Amount: 5,00,000 Loan Term: 30 Years Loan Amount: 75-90 percent of the cost of the property

(Note: We thank all the mentioned sources for valuable research materials. It is our sincere wish that you find value in this article. These articles are intended solely for informational purposes; if further clarification is required, please consult appropriate professionals. Nothing on this site is for sale or promotion.)