Apply for Best lowest Home Loan interest rates@ 7.90%* – Best Offers Online
Here’s a comprehensive overview of Home Loan – what they are, how they work, their key features, benefits, eligibility, documentation, housing loan interest rate Home Loan interest rate and types available:
Bring your dream home within reach! Avail home loan options with the lowest rates, starting at 7.90%*, and attractive interest rates to make your home buying journey smooth and straightforward. We offer flexible terms, fast approvals, and complete transparency—no hidden fees, just clear and tailored solutions for you. Let’s make your dream a reality. Apply now!
Top Banks Offering Lowest Home Loan Interest Rates 2025
Federal Bank
IDFC First Bank
Tata Capital
RBL Bank
Gic Housing Finance
Godrej Housing Finance
L&T finance
IIFL Housing Finance
Yes Bank
Top Home Loan Schemes & Offers from best banks
SBI HOME LOAN - Apply for the Best Home Loan and apply for a home.
- Lowest Interest Rates
- Interest on Daily Reducing Balance – pay less over time
- No Hidden Charges
- Prepayment Allowed From just above ₹1
- Prepayment is allowed from the first day of Loan disbursement
- No Prepayment or Foreclosure Penalty
- Overdraft Facility (Maxgain) for better fund management
- Quick Approvals with simplified documentation
- Concession for Women Borrowers
- Easy Online Application & EMI Calculator Tools
- Low Processing Fees
- Funding up to 90% of the agreement value
- Loan Tenure Up to 30 years or until the age of 70 years
- Online Prepayment with Yono, Google Play, Phonepe and Paytm
- Moratorium period of up to 36 months
BANK OF BARODA Apply for Best Home Loan Overdraft interest rate
- Affordable EMIs
- Higher Loan Amounts
- Streamlined Disbursement Process
- Zero Processing Fees
- No Hidden Charges
- No Prepayment Penalties
- Special Concession of 0.05% for women
- Flexible Tenure Options
- No Charges on Prepayment, Pre-closure, or Part Payments
- Exclusive Rate Concessions
- Lowest Interest Rates
BANK OF INDIA - Apply for Best Home Loan interest rate
- Affordable EMIs
- Higher Loan Amounts
- Streamlined Disbursement Process
- Zero Processing Fees
- No Hidden Charges
- No Prepayment Penalties
- Special Concession of 0.05% for women
- Flexible Tenure Options
- No Charges on Prepayment, Pre-closure, or Part Payments
- Exclusive Rate Concessions
- Lowest Interest Rates
UNION BANK OF INDIA HOME LOAN - Lowest Home Loan interest rate
- Longer Repayment Options: Up to 360 months of repayment flexibility.
- Grace Periods: Enjoy up to 36 months of a moratorium period.
- Affordable EMI
- Co-applicant Income Consideration: Increase your eligibility with a close relative’s income.
- Versatile Loan Options: We offer competitive interest rates on various housing needs, from plot purchases to renovations and solar installations.
- Additional Financial Products: Including smart loans (OD facility), balance transfer with top-up options, and more.
- Comprehensive Coverage: Free accidental insurance up to Rs. 5 crores.
- Low interest rate
- Minimal documentation required
- No hidden fees
- No penalty for prepayment
- Complimentary accidental insurance coverage up to Rs. 5.00 cr
BANK OF MAHARASHTRA HOME LOAN - Apply for Easy Home Loan Balance Transfer and home loan balance transfer.
- Affordable EMIs
- Higher Loan Amounts
- Streamlined Disbursement Process
- Zero Processing Fees
- No Hidden Charges
- No Prepayment Penalties
- Special Concession of 0.05% for women
- Flexible Tenure Options
- No Charges on Prepayment, Pre-closure, or Part Payments
- Exclusive Rate Concessions
- Lowest Interest Rates
HDFC BANK - Apply for Fast Home Loan Approval
- Home Loan Approval Made Simple: Get approved in four easy steps.
- Personalised Repayment Plans: Home loans designed to fit your unique needs.
- Simplified Documentation: Apply using only a few documents, which saves you time and effort.
- 24/7 Assistance: Contact us through Chat or WhatsApp for support anytime, anywhere.
- Online Loan Management: Log in to your account for convenient loan management.
- Buy your dream home immediately with a home loan instead of waiting years to save enough..
- Tax Benefits: You can enjoy tax deductions on the principal under Section 80c and interest payments under Section 24 B.
- Lower interest rates make them more affordable.
- Customised Repayment Options: Lenders provide personalised repayment plans to accommodate your financial situation.
- Maximum funding for self-employed
LIC HOME LOAN - Apply for the Lowest Home Loan interest rate for self-employed
- Online loan sanction facility – Fast Home Loan approval.
- Quick approvals and low EMI Rate starting from 8.0%.
- Simple documentation process – Requires minimal documents.
- Maximum tenure: 30 years for salaried individuals and 25 years for self-employed.
- Zero prepayment charges are applicable.
- Loans available for construction, purchase, renovation, or balance transfer.
ICICI BANK HOME LOAN - Apply for max home loan eligibility self self-employed business
- Eligibility enhancement up to 20% with designed home loan products
- Loan amounts available up to ₹20 crore – Best for self-employed individuals
- Loan tenure options up to 20 years
- ICICI Bank provides Home Loans online up to ₹5 crore*, catering to a variety of housing needs with considerable financing options.
- Experience a simplified documentation process that minimises paperwork, speeds up approval, and enhances convenience for all applicants.
- Quickly obtain pre-approval
- Our Home Loans come with Flexible tenure and repayment plans,
- We allow early repayment of loans without any foreclosure charges or Prepayment charges.
AXIS BANK HOME LOAN - Apply for Max home loan funding and home loan eligibility for self-employed
- Loan Amount: Funding for self-employed individuals can reach up to ₹5 crore.
- Loan Tenure: Up to 30 Years
- Floating Interest Rate: Starting at 8.50%
- Fixed Interest Rate: 14%
- Processing Fee: Up to 1% of the loan amount plus GST, with a minimum fee of ₹10,000.
BAJAJ FINSERV HOME LOAN -Apply for Lowest Home loan interest rate and Fast home Loan approval
- Loan Amount: Funding for self-employed individuals can reach up to ₹5 crore.
- Loan Tenure: Up to 30 Years
- Floating Interest Rate: Starting at 8.50%
- Fixed Interest Rate: 14%
- Processing Fee: Up to 1% of the loan amount plus GST, with a minimum fee of ₹10,000.
PNB HFL HOME LOAN - Apply for Maximum funding
- Our Home Loan interest rates are competitive, starting at 8.50% annually for salaried individuals and 8.80% for self-employed applicants.
- PNB Housing provides various home loan products, including options for home purchases, renovations, construction, and extensions.
- We offer housing loans with terms of up to 30 years, available for applicants up to 70 years old.
- PNB Housing can finance up to 90% of the property’s value, with the exact percentage depending on the loan amount.
- We offer low processing fees, making our services affordable for everyone.
Key Features of a Easy Home Loan Explained in Detail
1. Loan Amount
Government and Private Banks and housing finance companies typically offer easy home loans covering up to 75% to 90% of the property’s Market or Registered Agreement value, depending on:
- Property Market Value and Registered Agreement to Sale Value
- Applicant’s income and credit profile
- Regulatory guidelines (RBI caps the Loan-to-Value ratio)
The down payment is a crucial factor in determining the total loan amount, as it represents the initial amount you need to pay upfront to secure the loan.
Example:
If the property market value is worth ₹100 lakh, you may be eligible for a loan up to ₹75–90 lakh.
2. Interest Rate Types
Home loan interest rates come with two interest rate options:
- Floating interest Rate: Linked to an external benchmark like the RBI Repo Rate (SBI’s EBLR). The rate can change over time in response to changes in the Reserve Bank of India’s (RBI) Repo Rate. One of the benefits of floating-rate loans is that borrowers can pay off these loans early without incurring any prepayment charges, offering flexibility and financial advantages.
- Fixed interest Rate: The interest rate remains fixed throughout the loan tenure or for a specified period. This consistency offers borrowers financial stability, enabling them to manage their monthly payments predictably without concern for fluctuating interest rates.
- Many banks also offer hybrid rates—fixed for the first few years, then floating.
3. Loan Tenure
Easy home loan tenures may range from 5 to 30 years. The longer the tenure
- Lower the EMI
- The higher the overall interest outgo
- Most lenders cap repayment at the borrower’s retirement age or 70 years, whichever is earlier.
4. EMI & Repayment Method
Interest is calculated using a daily reducing balance method, which means interest is calculated only on the remaining principal.
Some lenders offer Step-up EMIs for young borrowers or Flexible repayment plans, including options for house renovation loans . Additionally, many lenders provide attractive home loan EMIs with low monthly payments and flexible loan tenures, making it easier for borrowers to manage their finances.
5. Home Loan Overdraft Facility (Available in some variants like SBI Max Gain and Baroda Max Savings Home Loan)
This allows borrowers to:
- Park surplus funds in a linked overdraft account
- Withdraw funds when needed.
- Reduce interest liability, as interest is charged only on the net outstanding balance.
Additionally, a home loan top-up facility can be an excellent option for securing extra funds to achieve personal or financial goals.
6. Home Loans Processing Fee
Some financial institutions offer zero or discounted processing fees during special campaigns.
7. No Prepayment or Foreclosure Charges
- Most banks do not charge penalties for early repayment of loans on floating interest rates, especially for individual borrowers.
- This helps reduce your interest burden and closes the loan earlier.
8. Tax Benefits
Home loans offer significant tax deductions:
- Section 80c: Up to ₹1.5 lakh/year on principal repayment
- Section 24(b): Up to ₹2 lakh/year on interest repayment
- Section 80 EEA: Additional ₹1.5 lakh for first-time homebuyers (conditions apply)
9. Joint Loan Facility
You can apply for a joint home loan with a spouse, parent, or sibling to:
- Increase eligibility by including co-applicants and their financial backgrounds, which can influence loan amounts and terms
- Avail tax benefits individually by ensuring all necessary documentation for both the primary applicant and all co-applicants is included during the loan approval process.
10. Special Schemes for Women Borrowers
Many lenders offer:
- Lower interest rates (0.05% concession)
- Priority processing
- If the property is registered in the woman’s name or jointly held.
11. NRI Home Loans
Specific home loan schemes are tailored for Non-Resident Indians (NRIs):
- Digital processing
- Higher loan eligibility
- Support with documentation & remittances
12. Documentation & Online Application
- Simple digital process with online document upload for your housing loan application. Ensure that all personal and financial information is accurate to avoid delays. Follow the step-by-step instructions carefully to complete the application process.
- Instant eligibility checks and EMI calculators
- Pre-approval Home Loan options available
Purpose of a Home Loan
A home loan, also known as a house loan, can be availed for various purposes:
- Purchasing a ready-to-move-in and under-construction home or flat
- Constructing a new home
- Purchasing a residential plot with a construction plan
- Renovating or repairing an existing home
- Extending the property or improving the interiors
- Transferring your existing home loan from one bank to another bank (Home Loan balance transfer)
Benefits of Home Loans
- Low Interest Rates: Competitive rates from major banks
- Long Repayment Tenure: Up to 30 years for manageable EMIs
- Prepayment Flexibility: Pay off early with no charges
- Tax Deductions: Save on taxes under sections 80c and 24(b)
- Increase Credit Score: Making timely repayments improves your credit history.
- Multiple Schemes: Tailored loans for salaried, self-employed, and NRIs
Home Loan Application & Eligibility Criteria
If you’re planning to apply for a home loan, understanding the home loan application process, eligibility criteria, including down payments crucial. Whether you’re looking for the best home loans, an easy home loan process, or quick home loans with minimal documentation, meeting the lender’s basic requirements is the first step toward approval. Additionally, understanding the terms and conditions of the loan agreement is essential as it affects the loan approval and repayment process.
- Age: Most financial institutions require applicants to be between 21 and 70 years of age. The loan should ideally be repaid before retirement or the age of 70, whichever is earlier.
- Occupation: Both salaried individuals with a steady monthly income and self-employed professionals or business owners are eligible. Lenders prefer applicants with stable and verifiable income sources, especially for quick home loans.
- Income: A minimum monthly income of ₹25,000 to ₹30,000 is typically required. This varies based on the city and lending institution. Higher income may also qualify you for the best home loans with lower interest rates.
- Credit Score: A credit score of 700 or above is ideal. A strong credit history increases your chances of loan approval and helps you secure favourable terms on an easy home loan.
- Repayment Capacity: Your ability to repay the loan is evaluated based on your income, existing financial obligations, and the loan tenure. A strong repayment capacity boosts your eligibility for quick home loans.
By meeting these criteria, you increase your chances of securing the best home loan deals available in the market.
Loan Approval and Disbursal
The quick home loan approval and disbursal process typically involves several steps, including determining the loan tenor. First, the borrower must submit their application along with the required documents, such as income proof, identity proof, and property documents. The lender will then verify the documents and assess the borrower’s creditworthiness, taking into account factors such as their credit score, income, and employment history.
If the loan is approved, the lender will disburse the loan amount, which can be used to purchase or construct a house. The loan disbursement process typically takes a few days to a week, depending on the lender and the complexity of the loan application. It’s essential to note that the home loan interest rate and loan tenure play a crucial role in determining the loan repayment amount.
Managing Your Easy Home Loan
Managing a home loan requires careful planning and budgeting to ensure timely repayment of the loan. Borrowers can use a home loan EMI calculator to determine their monthly repayment amount, which includes both principal and interest components. It’s also essential to consider the loan tenure, as a longer tenure can result in lower EMIs but higher overall interest paid.
Additionally, borrowers can opt for a top-up loan or balance transfer loan to consolidate their debt or reduce their interest burden. Self-employed individuals may need to provide additional documentation to avail of a home loan, and it’s crucial to maintain a good credit score to negotiate competitive interest rates. Furthermore, borrowers should be aware of the prepayment or foreclosure charges associated with their loan and plan their repayment strategy accordingly.
Quick Online Home Loans Application Process
- Check Eligibility: Start by reviewing the lender’s eligibility criteria, which typically include age, income, occupation, and credit score. A score of 700 or higher is usually preferred.
- Gather Required Documents: Ensure you meet all housing loan requirements, such as:
1. Identity & address proof
2. Income documents (salary slips, ITRs, business proofs)
3. Latest bank statements
4. Property documents - Submit Application Online or Offline: You can choose to apply for a housing loan online via the lender’s website or visit a nearby branch. Online applications often come with faster processing and exclusive deals.
- Verification and Processing: The lender will verify your documents, evaluate your credit history, and conduct a legal and technical check of the property.
- Loan Sanction & Disbursement: Once verified, your housing loan is sanctioned, and the funds are disbursed directly to the seller or builder as applicable.
By understanding each step and preparing your documents in advance, you can ensure a smooth
Housing loan application process.
Applying online is ideal for those seeking convenience, speed, and the best housing loan rates.
Types of Home Loans
- Regular Home Loan: For the purchase of a new or resale property
- Home Construction Loan: For building a house on owned land
- Plot + Construction Loan: Buy land and construct on it
- Home Improvement/Renovation Loan: For repairs or upgrades
- Home Extension Loan: Add rooms or additional floors
- Balance Transfer Loan: Switch an existing loan to a lower interest rate
- Top-up Loan: Additional funds over the existing loan for personal needs
- Home Top Up Loan: Increase your existing loan amount to access additional funds by leveraging your current home loan
- NRI Home Loan: Specifically for Non-Resident Indians buying property in India
How to Apply for a Home Loan Online
Compare Home Loan offers online: Check the lowest home loan interest rate from banks like SBI, BOB, Bank of Maharashtra, Union Bank of India, HDFC, ICICI, Axis, etc. The Reserve Bank sets benchmarks for interest rates, such as the repo rate, which directly impacts the interest rates offered by these banks and affects the home loan application process.
Check Home Loan Eligibility: Use the online Home Loan Eligibility calculator.
Choose the Right Loan: Fixed vs. Floating, Tenure, and EMI Options.
Submit Documents: Online or offline.
Loan Approval & Disbursement: Based on verification and valuation
Home Loan Required Documents
For Salaried Applicants:
• Two Photographs
• PAN Card
• AADHAR Card
• Current Address Proof [ Rent Agreement/ Postpaid Bill/ Gas Bill]
• Marriage Certificate (If Applicable)
• Offer Letter: Current Job
• Service/ Experience Certificate if the Job is less than 2 years
• Salary Slip for the last 3 months
• Bank statement for the last 6 months [Salary Account]
• Loan account statement for the last year (if any loan is outstanding)
• Form 16 for the last 2 years (all quarters include part A & part B)
• Form 26 for the last 2 years & ITR for the previous 2 years
For Self-Employed/Business Applicant:
• 2 Photographs
• PAN Card
• AADHAR Card
• Marriage Certificate (if applicable)
• Current address proof [rent agreement/postpaid bill/gas bill]
• Business address proof [light bill/rent agreement]
• Business profile
• Shop ACT licence
• Income tax returns for the last 3 years [ Attested by CA ]
• Balance sheet / Profit & Loss Account Last 3 Years
• Current Account Statement for the last year
• Loan account statement for the last year [ if any loan outstanding]
• Partnership deed
• TDS Certificate
Additional Services
Several additional services are available to home loan borrowers, including complete home loan insurance, which provides financial protection in case of unforeseen events. Borrowers can also opt for a home extension loan or a home renovation loan to improve their existing property. Moreover, some lenders offer a floating rate home loan, which allows borrowers to take advantage of falling interest rates. When applying for a home loan, it’s essential to consider the eligibility criteria, including the maximum loan amount, loan repayment period, and income tax benefits.
Borrowers can use online home loan calculators to determine their loan eligibility and EMI amount, and they should also be aware of the processing fees and other charges associated with their loan. By choosing the right lender and loan product, borrowers can avail of attractive interest rates and flexible repayment options to achieve their dream of owning a home.
Conclusion
In conclusion, a home loan is a significant financial commitment that requires careful planning and consideration. Borrowers should research and compare different loan products, including housing loans, house loans, and home loans, to find the best option for their needs. They should also be aware of the current home loan interest rates and the factors that affect their loan eligibility, such as credit score, income, and employment history.
By understanding the loan process, including loan approval and disbursement, and managing their loan effectively, borrowers can enjoy the benefits of homeownership while minimising their financial burden. Additionally, borrowers should consider the tax benefits associated with home loans, such as deductions on principal repayment and interest payment, as per the Income Tax Act. Ultimately, with the right loan product and a well-planned repayment strategy, borrowers can achieve their dream of owning a home and securing their financial future.
