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

Home Loan Near Me, Lowest EMI Per Lakh

Last Updated 09th 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 13 branches and Bank of Baroda has 40 branches in Varanasi.
  • There are 33 banks in Varanasi. Check Best Offers
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback
Varanasi

Types of Home Loans offered in Varanasi

In Varanasi, 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 Varanasi

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

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

HDFC Bank Home Loan Branches in Varanasi

BHU VARANASIBOMBAY MERCANTILE CO OP BANK VARANASICHITAIPUR
GODOWLIAKUSH COMPLEXLOTHA
LUXA ROADORDERLY BAZAARPANDEYPUR
RAM NAGAR VARANASIRATHYATRA CRSGSHIVPUR
VARANASI

Bank of Baroda Home Loan Branches in Varanasi

AMARA KHAIRA CHAKBHUCANTT
CHITAIPURCHOWKDANIYAL PUR
DLWGODOWLIAGOPAL MANDIR EXT COUNTER
GURUDHAM COLGYANPURHERITAGE HOSPITAL
IBBINDUSTRIAL ESTATEKACHHWA ROAD
KATHIRAONLANKALEHRUPUR
LOHTALUXA ROADMADANPURA VARANASI
MAHMOOR GANJMANGALPURNAI SARAK
ORDERLY BAZAPANDEYPURPILIKOTHI
PINDRARAM KATORA EXTN COUNTERRAMKATORA
RAMNAGARROHANIASANKAT MOCHAN
SEWAPURISHIVPURSIGRA
SONARPURATETARI BAZARVARANASI MAIN
VISHESHWARGA

FAQs

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

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

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

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 Varanasi.

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

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


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