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

Home Loan Near Me, Lowest EMI Per Lakh

Last Updated 04th Dec 2021

Bank Interest Rate Tenure Lowest EMI Per Lakh
SBI 6.65% Floating
Check Best Offers
30 years ₹ 642
HDFC 6.70% Fixed
30 years ₹ 645
ICICI Bank 6.70% Fixed
30 years ₹ 645
Axis Bank 6.65% Fixed
30 years ₹ 642
PNB Housing Finance 6.99% Fixed
30 years ₹ 665
Bank of Baroda 6.50% Floating
30 years ₹ 632
Citibank 6.50% Fixed
25 years ₹ 675
  • HDFC Bank has 0 branches and Bank of Baroda has 0 branches in Rangareddy.
  • There are 0 banks in Rangareddy. Check Best Offers
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Rangareddy

Types of Home Loans offered in Rangareddy

In Rangareddy, 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 Rangareddy

In order to avail of a home loan in Rangareddy, 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 Rangareddy

  • SBI Home Loan- The State Bank of India is one of the leading public sector banks in the country. It has many branches in Rangareddy. 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 6.65%. SBI offers special discounts on home loan rates for women borrowers.
  • HDFC Home Loan- HDFC home loan is another popular home loan lender in Rangareddy. It offers various home loan products like HDFC TruFixed home loan, HDFC Reach home loan, etc. The interest rates on HDFC home loans in Rangareddy begin from 6.70%.
  • 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 Rangareddy include ICICI repo rate home loan, Express home loan, ICICI Home Improvement loans, among others. Interest rates on ICICI home loans in Rangareddy starts from 6.70%.
  • 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 Rangareddy are Axis Bank repo rate home loan, Empower home loan, and Happy Ending home loans, amongst others. Axis bank home loan interest rates in Rangareddy start from 6.90%.

FAQs

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

The interest rates on home loan vary from bank to bank. The lowest rate of interest rate on housing loan in Rangareddy is 6.50%.

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

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 Rangareddy.

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

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


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Home Loan News - Dec 2021
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    As per the official data, HDFC Bank is the fastest among the 100 global companies that have gone public in less than a year.
  • 2021-12-02 : Indian Bank Fraud of Over Rs. 33 Crores to RBI
    Indian Bank has reported fraud of Rs. 33 Crores regarding the two of its accounts that turned into Non Performing Assets.
  • 2021-11-30 : IIFL Home Finance Reports a Growth of 19 percent in Quarter 2
    IIFL Home Finance reported a loan book growth of 19 per cent. The loan disbursement grew from ₹12,892.74 crores a year ago to ₹15,320.99 crores in the second quarter of the fiscal.
  • 2021-11-29 : ESAF Small Finance Bank Gets Sebi Nod
    ESAF Small Finance Bank has received the nod from SEBI for IPO. The finance bank can raise equity shares worth Rs 800 crore and sell Rs 197.78 crore by existing selling shareholders.
  • 2021-11-23 : RBI Reports Jump in Digital Loan Disbursement
    As per the Reserve Bank of India, the overall volume of digital loan disbursement by banks and non-banking financial institutions has increased 12 fold between 2017 to 2020. As a result, the number has increased to Rs. 1.42 Lakh crores.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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