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What Wikipedia Can’t Tell You About Top Banks Providing Home Loan

Axis Bank Home Loan:

Axis bank is the choice of many Indian families in order to obtain a home loan. The bank’s attempt to give special attention to all its loan applicants makes it so popular. It is very customer friendly which makes it popular among its customers. Some of the unique benefits Axis bank home loan gives are as follows:

  1. There is an availability of flexible interest rates, so you choose between Floating and Fixed rate according to your needs.
  2. There is an availability of schemes on a special transfer of balance.
  3. This bank also has doorstep services which ease down your loan process and makes it more convenient.
  4. There is no pre-payment charge and so you can pay back your loan any time according to your wish.
  5. The repayment option is up to 30 years which is quite long.
  6. However, there is no option of part-payment on floating rate loan but is available in fixed rate loan.

HDFC Home Loan:

This bank is rightly called as the home loan banker due to the unique benefits provided by the bank in giving home loans. It is through their two famous subsidiaries, HDFC REALTY AND HDFC RED that HDFC bank is climbing the ladder in the competitive field of Real Estate. Moreover, this bank is known internationally and is trusted due to its customer care service. Some of the benefits are listed below:

  1. You can get a loan of up to 90 % of the actual cost of the property.
  2. Your loan gets approved very fast; sometimes even before the selection of a property.
  3. Choice can be made from Fixed Rate or Floating Rate as per the needs of the loan borrower.
  4. The repayment option is quite easy, almost up to 30 years, which can lessen the burden of a customer as he gets ample time to pay back the loan.
  5. HDFC home loans provide the most attractive and the lowest home loan rates.
  6. Also, when you avail for a Home Loan from HDFC, no processing fees is charged for self-employed professionals and salaried individuals.

ICICI Bank Home Loan:

Home loans from ICICI Bank are known for its easy and quick approval. The benefits which they offer for taking home loans:

  1. They provide a doorstep service which makes the customers work easily.
  2. Also, no guarantor is required for taking any type of home loan.
  3. No charges are charged for prepayment or part pre-payment of your home loan.
  4. The tenure for loan payment is up to 25 years.
  5. There are options for insurance for your home loan at the very attractive premium.
  6. Ample amount of home loan which is suited to one’s needs and desires.
  7. Very simplified documentation is available in this bank for taking a home loan.

 LIC Home Plan:

LIC Housing Finance Ltd. is considered and also known as one of the largest housing finance companies in the country. LIC Home Loans gives home loans at very less, attractive interest rates with very less processing fees and minimum documentation. Some of the benefits are:

  1. The home loan tenure is up to 30 years.
  2. No guarantor required for home loans taken from LIC HFL.
  3. There is no pre-closure on floating rate loan but it is pre-closure on fixed rate loan.
  4. There is an availability of balance transfer.
  5. This housing finance company provides a very eye-catching interest rate.

PNB Housing Finance Loan (PNBHFL):

PNBHFL is a subsidiary of one of the largest banks of India, Punjab National Bank (PNB). The bank, along with its customers takes pride over being one of the largest public sector housing finance companies in the country. In fact, it has become a name to be reckoned with in the housing finance sector. The advantages of availing home loan from PNBHFL are:

  1. Availability of doorstep services enables loan approvals to be faster.
  2. PNBHFL provides loan amounts up to 90% of the property cost. You can take more loan amount if the property cost is increased.
  3. They maintain a standard of honesty and transparency.
  4. ‘Home loan TAX benefits’ is a matter of attraction of this bank.
  5. Part-payment is available and no pre-closure.
  6. There is no guarantor required for taking a loan.

State Bank of India:

State Bank of India, the largest public sector bank is one of the most preferred banks when it comes to home loans. SBI home loans can be trusted because of the transparency which they maintain. It offers loans for both salaried and self-employed individuals. Some of the unique advantages of SBI Home Loans are:

  1. They charge a very low-interest-rate which does not make home loans a burden.
  2. No extra or hidden costs for availing any type of home loan. This way they maintain transparency.
  3. The SBI home loans charge very low processing charges.
  4. No penalties are charged for prepayment of home loans by the SBI group.
  5. SBI home loans are known for its exclusive benefits offered by them to the customers.
  6. There are a lot of branches across the country, so you can avail a home loan from the nearest branch of SBI.
  7. A unique thing is the special “State Bank Rewards for Home Loan”, which gaps the bridge between a customer and the bank.
Rakshit Nair

Rakshit Nair

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About Me

I’m a Commerce Graduate & CFP Professional, engaged in blogging since 3 years. I’m not affiliated with any financial product. The purpose of writing blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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