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User reviews
  • In terms of home loan application with HDFC limited, there was no proper communication or response received which was disappointing. I did tried emailing them twice or thrice, however no response received. It would be better if the response could be improvised.
    10:42 AM - Nov 21, 2014

    , jaipur
    0.5 1.0/5 "Really Bad"
  • I did not see anything great in the rate of interest because all other banks also offering same rate 10.15% for home loan. ICICI bank has sanctioned home loan for the amount of 20,50,000. EMI date falls on 4th of every month and initially they collected post dated cheque to clear first EMI. They took only 20 days to disburse the loan amount and it is reasonable.
    04:44 PM - Nov 20, 2014

    , thane
    0.5 4.0/5 "Great!"
  • Since LIC housing finance was nationalized sector we will not expect their respond all the times. Somehow they will respond at one point of time. I took one home loan long time back with lesser interest rate however now it was high with floating interest rate. It would be nice if they speed up their documentation policy
    05:47 PM - Nov 19, 2014

    , vijayawada
    0.5 4.0/5 "Great!"
  • I applied home loan with HDFC Limited which was excellent. I got my loan within a time span of 7 days which is of Rs.22 lakhs. I would say that the customer support executive took the responsibility and helped me in processing the loan without any issues. I just applied the loan and within no time I got the disbursement which is appreciable. I would also like to mention that HDFC Limited was very good in their services other than any financial corporation in the market.
    10:40 AM - Nov 21, 2014

    , bangalore
    0.5 5.0/5 "Blown Away!"
  • Each and every thing about home loan were shared to me by the executive through call but unfortunately I unable to take loan with Axis bank as I postponed the plan due to personal reasons. As being an existing customer of Axis bank they were not ready minimize the rate as the rate was above 12% for home loan. Hence, customer would be benefited if they decrease the rate.
    03:28 PM - Nov 20, 2014

    , indore
    0.5 4.0/5 "Great!"
  • Experience was quite ok with HDFC limited however due to job stability issue, I was not able to continue further. Even the customer relationship officer did provide the actual reason of rejection of home loan and I felt happy about it as it is scope of improvisation.
    05:03 PM - Nov 19, 2014

    , bangalore
    0.5 4.0/5 "Great!"
  • It was totally a hassle free process and I havenâ??t faced any obstacles in availing home loan from HDFC limited. Entire process was smooth in manner and I got the loan with 10.15% as the interest rate with pretty higher processing charges. The interest rate is fixed for 2 years and floating for the remaining 2 years. Overall I liked the processing.
    10:16 AM - Nov 21, 2014

    , chennai
    0.5 5.0/5 "Blown Away!"
  • Axis bank is offering reasonable rate of interest for home loan and response was good. Initially I got a single call form Axis bank and that individual informed that one of the document executive would visit my place to collect documents but no one has visited for documentation. Moreover I did not get further calls from bank. Status of home loan should be informed customers, though they reject the application.
    01:56 PM - Nov 20, 2014

    , kolkata
    0.5 2.0/5 "Expected more"
  • Experience was quite ok with HDFC limited however due to job stability issue, I was not able to continue further. Even the customer relationship officer did provide the actual reason of rejection and I felt happy about it as it is scope of improvisation.
    05:02 PM - Nov 19, 2014

    , bangalore
    0.5 4.0/5 "Great!"
  • Earlier I had one home loan from DHFL where I faced lot of hassles from them . They are showing some hidden charges like insurance with no proper clarification .Processing time was very slow. Actually they have ben charged more than what they have promised. Hence I closed my loan earlier
    05:37 PM - Nov 20, 2014

    , new delhi
    0.5 3.0/5 "Satisfactory"
  • As there was no positive response from HDFC limited in terms of home loan application,not able to go ahead further. Experience was good however the exact reason was given and was stated that at this time, not able to process which was not satisfactory. The good part was that they responded well and the courtesy of the customer service team was good. The disappointing part was that my home loan was getting approved however here there was no reason provided.
    05:48 PM - Nov 19, 2014

    , bangalore
    0.5 4.0/5 "Great!"
  • I would say the facilities in HDFC limited is more than the other financial companies in the market. I had a good experience in availing home loan. I had asked for 10 lakhs however in additional for registration purpose I required 138000 which was provided by understanding my requirement. Relationship officer gave ample of time and explained everything clearly and answered all my queries. Rate of interest is 10.25% which is reasonable.
    04:57 PM - Nov 19, 2014

    , mumbai
    0.5 5.0/5 "Blown Away!"
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BankBazaar Home Loan is Rated as " Great!" by 2342 Users
 4.0 / 5.0   by 2342 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

Home Loan BYTES FROM OUR KITCHEN

You're eligible for a Home Loan if you:

01
02
03
04
That's 21 years old, same time that everything besides milk becomes legal too

Are legally adult enough to handle it

Less than 65 years of age, because sanguine golden years are for playing golf

Have still got it

Salaried or self-employed - whatever puts food on your table

Get a regular pay check

There's a minimum amount for that regular pay check

Make more than a basic buck


Your eligibility depends on

01
02
03
So you'll have enough for life's other goodies

EMI limited to about 50%
of monthly income

So you have something to call your very own from the get go

Loan capped @ 75% - 85% on property value

So you don't bite off more than you can chew. Trust us, it's less painful this way

EMIs of other loans lower
your eligibility


Boost your eligibility by

01
02
03
Her income will bolster your eligibility and make good on your wedding vows of sharing, caring and avoiding doing the dishes.

Making your spouse a co-applicant

We've all learned that haste makes waste

Choose longer tenure loans of up to 20 - 30 years

They will always remain older, wiser and more credible than their offspring.

Alternatively add your parents as co-applicants


Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Processing fee cheque
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Home Loan Interest RatesUpdated on 22 Nov 2014

Home Loan Details
Interest Rate (Monthly reducing balance) 10% - 10.5%
Processing Fees 0.5% of Loan
Loan Tenure 1 year to 20-30 years
Partial pre-payment Charges Nil
Pre-closure Chargest Nil

Wondering What a Home Loan is? – An Overview:

Home or housing loans are advances made to borrowers who require funds to purchase houses/flats/land. They can also be availed of for construction, extension and renovation of houses. Lenders can be banking or non-banking financial institutions.

Features of Home Loan:

The salient features are outlined below:
  • They are secured advances.
  • Collateral is usually the property that is being funded. Existing property can also be put up as security.
  • Interest rates are flexible being either Fixed, Floating or a combination of fixed and floating.
  • Home loan interest rates are lower when compared to unsecured personal advances.
  • The advance can be used to fund property for residential or investment purposes.
  • Amounts offered are higher than under other types of loans; up to 85% of the property value.
  • Repayments are made in EMIs (Equated Monthly Instalments).
  • Pre-payments are allowed, to reduce liability.
  • They are long-term in nature; tenors usually vary between 5 - 30 years
  • Non-interest charges include processing fees, pre-payment charges, inspection fees, documentation fees etc.
  • Co-applicants/joint-applicants are allowed.
  • They qualify for tax benefits as per provisions of the IT Act, 1961 (subject to changes).

Home Loan Eligibility - Getting In On the Deal:

Every lender assesses a customer differently but, by and large, the basic criteria a borrower should satisfy to be eligible for a home loan are outlined below:
  • Age: The minimum age at the time of application should be 21 years. Repayments have to be completed before the age of 60 or 65.
  • Employment: Ability to service interest charges, as reflected in the borrower’s earning capacity, is important. Borrowers should:
    • Be salaried employees or self-employed persons (professional/non-professional)
    • Have been in employment/business for at least 3 years of which current employment should account for at least 1 year.
  • Income: A minimum income varying between Rs.5 - 7 lakhs would be required. This depends on the nature of employment i.e. salaried or self-employed.
  • Residence: At least one year of stay at the current residence is required to display stability.
  • Credit Rating: A good credit score is required (a score of 750-900 from CIBIL is considered good). Besides this, a healthy financial background is vital for approval and to determine the interest rate and loan amount.

Documents Required for Home Loan - For the file!

Documents to be submitted differ according to the eligibility requirements. The following, however, are commonly requested for:
  • The application form which has to be signed and affixed with the specified number and size of photographs.
  • Proof of identity, address, employment, income and tax paid as per KYC requirements. This usually includes:
    • Passport/Voter ID//Driving License/Ration Card/Utility Bills/Lease Agreements/Property Deeds/Salary Slips (3 most recent months)/Salary Certificate/Bank Statements (3-6 most recent months)/Audited financial statements/Form 16/ITR/Business deeds e.g. MOA, Partnership Agreement etc./Appointment Letter
  • Documentary evidence of the property to be funded.
  • Cheques for payment of fees charged to process the application.
In case of a joint application, the co-applicant will also be required to furnish similar paperwork.

Beat the Heat - Apply Online:

The trials and tribulations one has to go through in order to figure out where to get the best offer from can be truly taxing to the mind, body and spirit.
Performing the age-old task of going to each financier, finding out what offers are available, collating the information, calculating EMIs, submitting the required documents and following up on applications can take a toll on any potential borrower.
The best way to save on time, money and effort is to go online. Applying for home loans online is gaining popularity in India and fast becoming the mode of choice for many borrowers.

Why BankBazaar? Check it out!

BankBazaar is India’s leading portal for financial services where different home loan offers can be compared at one place and applied for without having to visit any lending institution.
Here’s what users can do:
  • Define loan parameters to receive free quotes, instantaneously, in an easy-to-understand manner.
  • Compare offers to identify the right lender to deal with.
  • Make real-time home loan comparisons to find the lowest rates in the market. At BankBazaar, interest rates are constantly monitored and updated to reflect the latest changes made by financiers.
  • Avail exclusive discounts and deals for huge savings through BankBazaar’s active collaboration with leading financial institutions.
  • Check eligibility online using BankBazaar’s home loan eligibility calculator and get immediate e-approvals.
  • Determine repayments using BankBazaar’s home loan EMI calculator which also provides amortization tables.
  • Browse user reviews to gain insights on service provided by various institutions.
  • Apply online for the chosen product directly through the site.
  • Receive end to end guidance from a dedicated customer care team for smoother processing leading to quick disbursal of money.
  • Get regular status updates.
Obtaining the right home loan is crucial to proper financial planning. It all begins with a successful search process that facilitates quick receipt of funds and guarantees peace of mind.

rated 4.0 /5.0
by 2342 users
Over 5,00,000 Happy Customers with loans & cards
Hdfc Bank CITI Bank ICICI Bank AXIS_BANK Bajaj Fin Serv Bank Magma Standard Chartered Bank Indusind Bank American Epress Bank DHFL SBI Card Tata Capital Fullerton Bank Credila HDFC TVS CREDIT SERVICES PNB Housing Finance Limited LIC HFL
YOUR SEARCH ENDS hERE
Compare multiple options and choose the one that best suits you

Compare the best home loan offers in town and locate the lowest rates!

Offers to Compare
Over 25 offers to compare!

This is our forte- helping you compare the finest deals. Additionally, we'll handpick offers that suit your profile and present the best rates from several banks, so you can make a thoroughly-informed decision.

Breaking Down Offers
Breaking down offers

We're obsessed with giving you a 365 degree view of offers. So, we'll break it down for you - EMIs, eligibility, maximum amount that can be borrowed, fees, hidden charges... no more getting fooled by the fine print!

Why Apply Online
Preferred over builder

There's a good reason by thousands of customers choose BankBazaar - we support you in many more ways than a builder would through the process - multiple options & timely handheld support.

Cheaper then Dealer
Why apply online?

You don't have to fight for parking space! Jokes apart, applying online will help you save time and money; plus, you'll be able to use the services of our super-friendly customer service team at anytime and get all your queries answered.

Comparing Best Loans
Done comparing! Now what?

We showcase the best loan offers and help you compare them... what next? Well, we'll aid you in applying to the bank of your choice and work with you right up to the delivery of the loan!

Still have a gazillion questions?
Still have a gazillion questions?

Think of BankBazaar as your loan-savvy buddy! Our customer support team is at your service to clear doubts on eligibility, offers, procedures and documentation, and help you apply. They'll even co-ordinate with the bank to get you your loan on time.

Connect to the Bank
We'll connect you to the bank

We know the bank guys really well! So, if you want to talk to a bank representative or get help on your loan application, we won't just connect you to them; we'll also do the follow-up on your behalf.

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