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Home Loans in Faridabad - SBI, HDFC, PNB, Citi, ICICI Bank, All Banks

Home Loan Near Me, Lowest EMI Per Lakh

Last Updated 20th Jun 2021

Bank Interest Rate Tenure Lowest EMI Per Lakh
SBI 6.70% Floating
Check Best Offers
30 years ₹ 645
HDFC 6.75% Fixed
30 years ₹ 649
ICICI Bank 6.75% Fixed
30 years ₹ 649
Axis Bank 6.70% Fixed
30 years ₹ 645
PNB Housing Finance 7.35% Fixed
30 years ₹ 689
Bank of Baroda 6.75% Floating
30 years ₹ 649
Citibank 6.65% Fixed
25 years ₹ 685
  • HDFC Bank has 17 branches and Bank of Baroda has 13 branches in Faridabad.
  • There are 34 banks in Faridabad. Check Best Offers
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Faridabad

Types of Home Loans offered in Faridabad

In Faridabad, various Banks and NBFCs provide home loans at comparative interest rates. However, a home loan is a broader category that can further be distinguished into types of home loans, based on the purpose for which it is bought. These are listed as follows:

Type of Home Loan Purpose of the Loan
Home Purchase Loan A home purchase loan is a loan to buy a residential property such as a flat or an apartment.
Land Purchase Loan Land purchase loan is a loan to buy a plot for the construction of a house. The construction on the land must be completed under a prefixed time.
Construction Loan A construction loan is a loan to construct a house on a plot owned by the loan borrower.
Home Extension Loan A home extension loan is a loan for extending or expanding an already owned house. For instance, constructing a floor, room or balcony.
Home Improvement Loan Home improvement loans are loans for the renovation of a house. This loan is taken for activities like painting a house, revamping electric wiring, etc.
Home Loans for NRI NRI home loans are loans for non-residents Indians who wish to buy or construct a home in India. This loan involves a bit more documentation than other regular home loans.
Home Loan Top-Ups Home loan top-up allows borrowers to borrow an additional loan amount on an existing home loan.
Pre-Approved Home Loan Pre-approved loans are loans offered by the banks to their existing customers, based on the customer’s credit history and income stability.
Home Loan Balance Transfer A home loan balance transfer, allows borrowers to shift their home loan from an existing lender to another lender, who offers the loan at a lower rate.
Home Loan Overdraft Home loan overdraft allows borrowers to add surplus loan amounts in their linked savings and current account.

Documents Required for Home Loan in Faridabad

In order to avail of a home loan in Faridabad, loan applicants need to fulfill the documentation requirements. List of documents to avail a home loan are listed as follows:

  • Identity Proofs: Identity proof is required to ensure a person's identity. These include aadhar card, voter id card, PAN card, or Government-issued id cards.
  • Address Proofs: An address proof is mandated to avail of a home loan in order to ensure the residential details of the applicant. These include passport, driving license, utility bills like water, electricity, or gas.
  • Income Proofs: Income proofs are required to ensure the repayment capability of the loan borrower. These include documents like Form 16, salary slips, ITR documents, and bank statements.
  • Age Proofs: Age proof is submitted through documents like birth certificate, voter id card, driving license, school and college certificates, and mark sheets.
  • Proof of Business Existence: It is required in the case of self-employed people. Proof of business existence includes trade license, copy of partnership deeds, and registration certificates. Also, certificate of practice and degree if the applicant is a self-employed professional.
  • Property Documents: This includes documents like allotment letter, possession letter, and certificate of approved plans for construction and extension, conveyance deeds, and sale-purchase agreements.

Top Banks Offers Housing Loan in Faridabad

  • SBI Home Loan- The State Bank of India is one of the leading public sector banks in the country. It has many branches in Faridabad. The bank offers various home loan products such as SBI flexipay home loan, Privilege home loan, Realty home loans, among others. Home loan rates by SBI start from 6.70%. SBI offers special discounts on home loan rates for women borrowers.
  • HDFC Home Loan- HDFC home loan is another popular home loan lender in Faridabad. It offers various home loan products like HDFC TruFixed home loan, HDFC Reach home loan, etc. The interest rates on HDFC home loans in Faridabad begin from 6.75%.
  • ICICI Home Loan- ICICI Bank is the second-largest bank in the country. It offers home loans at affordable interest rates that are designed to fulfill the house needs of both salaried and self-employed people. Popular ICICI Bank home loan products in Faridabad include ICICI repo rate home loan, Express home loan, ICICI Home Improvement loans, among others. Interest rates on ICICI home loans in Faridabad starts from 6.75%.
  • Axis Bank Home Loan- Axis Bank is one of the most popular private-sector lenders in the country. The bank provides excellence in all banking services and loan products like home loans. Popular home loan products offered in Faridabad are Axis Bank repo rate home loan, Empower home loan, and Happy Ending home loans, amongst others. Axis bank home loan interest rates in Faridabad start from 6.70%.

HDFC Bank Home Loan Branches in Faridabad

BALLABHGARHBHOPANICHARM WOOD VILLAGE
FARIDABAD MATHURA ROADFARIDABAD NITFARIDABAD SEC 21
FARIDABAD SEC 29FARIDABAD SEC 9FARIDABAD SECTOR 16
FARIDABAD SECTOR 35GREEN FIELDS COLONYHATHIN
NIIT FARIDABADSAMAIPURSECTOR 14 FARIDABAD
SECTOR 31 FARIDABADTIGAON

Bank of Baroda Home Loan Branches in Faridabad

CGO COMPLEXCHOWK MARKETFARIDABAD
FARIDABAD AIR FORCE ROADHATHINHUDA MARKET SEC 31
MILK PLANT BALLABHGARH ECNEHAR PAR FARIDABADOLD FARIDABAD
SECTOR 14 FARIDABADSECTOR 2SECTOR 5J FA
SECTOR16

FAQs

What is the lowest interest rate on a home loan in Faridabad?

The interest rates on home loan vary from bank to bank. The lowest rate of interest rate on housing loan in Faridabad is 6.65%.

How long does it take to get a housing loan in Faridabad?

Home loan disbursement to your account usually takes 15-30 days. However, if you have not finalized any property or any of the document is incomplete then it may even take more time to get home loan in Faridabad.

What is the minimum income requirement to get home loan in Faridabad?

The income criteria to get home loan varies from bank to bank. However, the minimum income to apply for a home loan in Faridabad is ₹ 25,000.


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