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

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Last Updated 17th Jan 2017
Bank Lowest Interest Rate (%) Tenure in Years Lowest EMI Per Lakhs
Apply Home Loan Online @8.60%*
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Home Loan Eligibility

Salaried Self Employed
Who is Eligible People in permanent service in public or private sector. Self employed Business - men, doctors, engineers, dentists, architects, CA, CS, consultants, lawyers
Loan Amount Determined by income, current debt, age, retirement age, number of co-borrowers, maximum loan to value, etc. Determined by income, current debt, age, retirement age, number of co-borrowers, maximum loan to value, etc.
Borrower Age at Time of Sanction Between 21 and 60 (or age of requirement, if lower) Between 21 and 65
Borrower Age at Time of Maturity Upto 60 (or age of requirement, if lower) Upto 65
CIBIL Score, Credit History Typically, a clean CIBIL record with a score above 700 is desirable Typically, a clean CIBIL record with a score above 700 is desirable
Minimum Income Some banks specify minimum income to be eligible for loans Some banks specify minimum income to be eligible for loans
Employment Track Record Typical requirement of at least 2 years in permanent employment and at least 1 year in current organization, but this varies on a case to case and bank to bank basis. Register your query with MyLoanCare to check this in your case. At least 2 years in the same profession with ITR filed
Balance Transfer Minimum 12-18 months’ track record of regular repayment of existing loan Minimum 12-18 months’ track record of regular repayment of existing loan

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Home Loan News - Jan 2017
17th Jan 17 LIC Housing Finance registers a 19 percent growth in its net profit in third quarter of FY 17
LIC Housing Finance has reported an increase of 19 per cent in its net profit at Rs. 499 core for third quarter ending on 31st December, 2016 as compared to Rs. 419 crore for the corresponding period a year ago. Non performing assets of the company have declined to 0.56 percent from 0.58 percent during the same period a year ago.
16th Jan 17 Home loans are likely to get additional tax incentives in the upcoming union budget for FY17
Union budget for FY 2017 is expected to bring higher tax benefits for middle class home loan borrowers. The benefit is expected to provide an increased tax deduction to home loan borrowers which may go beyond the annual amount of Rs. 2 lakh. The additional tax benefit is likely give a boost to the faltering reality sector that has been adversely hit by demonetisation.
16th Jan 17 Demonetization hits real estate market adversely with sales reduced by 50 per cent
Developers in real estate market have experienced a significant fall in sales of houses by 50 percent during October to December, 2016. Developers in Delhi NCR region alone are estimated to have incurred a revenue loss of around Rs. 22, 600 crore during this period. The effect could also be seen on state government finances in the form of estimated reduction in stamp duty collections of around Rs. 1, 200 crore.
14th Jan 17 Tata Capital Housing Finance reduces home loan interest rates
Tata Capital Housing Finance has reduced its home loan interest rates. The revised home loan rates for loan amount up to Rs.75 lakhs now stands at 8.70 percent for women borrowers. The NBFC has also reduced its home loan rates for other borrowers to 8.75 percent.
13th Jan 17 Standard Chartered Bank reduces home loan interest rates
Standard Chartered Bank has reduced its home loan interest rate by 45 basis points. The revised home loan rate now stands at 8.90 percent as compared to 9.35 percent earlier. The new rate is effective from 8th January, 2017.
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