Inshort about HDFC Home Loan

HDFC housing loan – Check your eligibility now or Calculate your EMI to decide at the fastest.

Key Points to note about HDFC home loan-

If you are applying for home loan from HDFC Bank then you must make a note of the following points :

  • If you add a co-applicant the you enhance your eligibility for a higher loan amount.
  • Adding a woman co-applicant will help you get better interest rate.

Details About HDFC Housing Loan:

Rate of Interest 8.80%-9.05%
Loan Tenure 1-30 years
Processing Fee Up to .50% of the loan amount
Guarantor Requirement Not Required
Pre-closure charges Nil
Maximum Loan Amount It varies from applicant to applicant and other factors decided by the bank.

When it comes to choosing the best option for the home loan, then one factor that instantly lures the borrowers is the interest rates offered by banks. Well, you have a number of banking and financial institutions offering the home loan. However, the right choice would be the one which offers attractive interest rates, expansive set of features, longer loan tenure, nil prepayment charges and great customer support is something that one eyes at. HDFC Bank is one of the leading banks in India that offers myriads of financial products and is known for its housing loan schemes.

Where can you use HDFC Housing Loan?

The bank offers housing loan under the following conditions:

  1.    Buying a new home
  2.    Buying a resale home
  3.    Construction of a new house
  4.    Property purchase
  5.    Transfer of home loan from one bank onto HDFC

Who can apply for home loan from HDFC Bank:

The following people can apply for home loan from HDFC bank, provided they meet the eligibility criteria specified by the bank:

  • Salaried and self-employed individuals can apply for HDFC housing loan
  • Every proposed owner of the property is considered as a co-applicant. But, all co-applicant cannot be co-owners.
  • The bank offers NRI home loan to non-resident Indians on a condition that the applicant must produce the proof the same.
  • The bank offers HDFC rural home loan to the farmers, agriculturists, dairy farmers etc.

Features and benefits of HDFC home loan

There are a series of benefits offered by HDFC bank that makes it a popular choice amongst the home loan seekers.

  • It offers comprehensive loan schemes for buying property, plot, or purchase of the resale property. You can also use the housing loan for construction of the house.
  • One of the distinctive features of HDFC housing loan is that it offers competitive interest rates when compared to other banks.
  • People-friendly policies and customer support makes HDFC bank a popular choice.
  • There are no hidden charges or last-minute costs that come up while you apply for a home loan from HDFC bank.
  • Innovative products like home extension loan and home improvement loans.
  • Door-step service with legal assistance.
  • Special offers for NRIs, defence professionals, farmers etc.
  • You can apply for home loan individually or have a co-applicant

Eligibility Criteria Specified by HDFC Bank-

  • The age of the applicant should be between 18- 65 years
  • Anyone who is salaried or self-employed can apply for home loan for HDFC bank but they must complete all the paperwork.
  • Any resident Indian can apply for home loan
  • HDC bank provides home loan to NRIs as well


Prospective borrowers  must submit the following documents for their housing loan processing :

  • Identity Proof- Adhaar Card, Driving License, Passport, Voter ID or PAN card will work well
  • Address Proof- Utility bills like electricity bill, phone bill, Adhaar card, Voter ID, Passport.
  • Proof of Income- The salaried individuals need to submit last six-month bank statement showcasing their credited salary.
  • Additionally, the salaried individuals need to submit employment contract, appointment letter.
  • The Self-employed individuals need to submit their recent ITR and P/L account attested by a CA.
  • The bank may also ask you to submit the buyer agreement or allotment letter.

Bird’s Eye View of the documents required for HDFC Home Loan under different categories:


Farmers or Agriculturalists Salaried Professionals Self-Employed
Application form with photographs Application form with photographs Application form with photographs
ID Proof and Address Proof ID Proof and Address Proof ID Proof and Address Proof
Last 6 Months bank statement Last 6 Months bank statement Last 6 Months bank statement
Processing Fee Cheque Processing Fee Cheque Processing Fee Cheque
A copy of title documents showcasing Land Holding Latest Salary Slip Proof of Business and Education certificates
Statement of last 2 years showing the loans availed (in case the borrower had applied) Form 16 ITR, Last 3 years P/L account, Balance Sheet

HDFC Home Loan Tax Benefit-

If you have bought or constructed a house afresh using a housing loan,  these are the tax deduction for home loan that you can avail of:

Section 80C

You can avail of deduction on the principal of the home loan repayment up to a cumulative limit (including provident fund, insurance premium etc.) of Rs.1.50 lakh per financial year.

Section 24

The interest that you pay on your home loan can fetch you a deduction of income up to
  • a) Rs.2 lakh in case the house is self-occupied
  • b) Without any limit if the house is rented out.

In case of a joint home loan, these tax deductions available on home loans can be enjoyed by the co-applicants separately, provided they are co-owners of the property and each of them is contributing to the home loan repayment. The actual amount of tax benefit enjoyed by each co-applicant is in proportion to their contribution in repayment of principal and interest, subject to the limits mentioned above.

Different types of Home Loan provided by HDFC Bank-

HDFC is known to cater to the variegated financial needs of the people by offering them different financial products like home loan, car loan etc. When it comes to a home loan, then HDFC bank has bifurcated its home loan products in the following categories:

  • Home Loan for Salaried and self-employed individuals- This is their primary home loan product for the salaried and self-employed professionals.
  • HDFC NRI Home Loan- This loan product has been specially developed for the Non-Resident Indians who are willing to invest in property in India.
  • HDFC Pre-Approved Home Loan– This loan is for those who are looking to negotiate with the sellers.
  • HDFC Home Improvement Loan – or popularly known as HIL is for those who are willing to make structural improvement in their house like painting, construction etc.
  • HDFC Home Loan Transfer-It is for those who want to shift their current home loan to HDFC for a better interest rate.
  • Home Extension Loan- If you are willing to add an extra room to your house or do any kind of modification, then HDFC offers you Home Extension Loan for the same. You might get confused between Home Extension Loan and Home Improvement loan, but an important point that differentiates the two is that the home extensions involves an increase in the total area of the house.
  • HDFC Home Loan for Agriculturalists- This home loan is for farmers, planters, horticulturists etc. who want to buy or build a home in villages. The bank doesn’t ask them to mortgage their land to get a home loan. The farmers also don’t need the Income Tax Returns to apply for a home loan from HDFC bank.
  • HDFC Rural Housing Finance-This loan is for the private sector and government employees for buying properties in rural residential.

Extra Charges While you are with HDFC Home Loan –

HDFC Bank doesn’t charges any hidden amount, but you must know the other charges that you might need to pay –

Type of Charges Amount
Late Payment Up to 24% per annum
Bounce Cheque charges Rs. 500
PDC Swapping Charges Rs.200
Cheque Swapping Charges Rs. 500
Per statement charge in case of issuance of duplicate statement NIL
Photocopy of Documents Rs.500
Increase or Decrease in Loan Term Up to Rs. 500 plus taxes

Why choose HDFC Home Loan via Loanyantra?

Well trusting a third party website for finalizing your loan provider can be a tough task for you, but at LoanYantra we make it simple. Our portal gives you an access to the whole new world of home loan providers. It’s a place where you can compare the interest rates, loan tenure, calculate EMI and also get to know which loan provider is the best for you. Here is what makes us stand out from the others:

  • A simple platform with a multitude of benefits– With just one click you can easily create the loan rates provided by different banks across the nation.
  • Unbiased Reports– We are a third party platform and hence all the data provided by us is not influenced by any of the banks or financial institutions. Be assured that you will get the correct and right information which will be in the best interest of the customer.
  • Easy to apply– Loanyantra wants to become a channel that can simplify your task of finding right lender and applying for the same. We help you with the complete procedure of home loan application and approval.
  • Time-Saving- Time is money and if you don’t want to waste time searching for the right bank, then you must long on We provide you with complete information and our team will help you complete all the paperwork in time so that you don’t waste your time running around.
  • No hidden charges– We don’t believe in bringing the cat out of the hat at the last moment. There are no hidden cost or charges that will leave you perplexed.

If you find this interesting and want to apply for home loan, then Loanyantra is the right platform for you. Our unbiased approach has made us carve a discernable niche for ourselves in the market. Moreover, we make sure that none of our customers face the hassle of running around and hence we also help you with door service. Connect with us today for easy home loan approval.


4 ways to prepare for a home loan interest rate rise

The quarter financial rates left everyone awe struck as the general consensus was that there can be further raise in the rate like the two preceding quarters’. But RBI left no traces of rate change in this quarter.

However, when interest rates are compared over the past two years, the home loan interest rates are taking the upward path from 8.3% to 9%.

no change in repo rate but expected hike needs some correction in your home loan interest rate
4 Points to prepare for home loan rate hike

Here are the most important points to be prepared with before the raise of the home loan interest rates.

1. Run a Rate Rise Road Test – Make minute adjustments to your daily expenses and see how you can coup up with the flexible interest rates. Simply use the home loan emi calculator to understand the influence of the rate rise say 0.25%, 0.5%, 0.75%, might have on your emi or tenure of your home loan. Also calculate if you can make some additional repayments with your current home loan to reduce the rate rise influence.

2. Stack More Savings – There is a good range of good value savings in the market. The fixed deposit interest rates have been comparatively at its best. Save so that your rainy day fund is primed and ready to go when needed.

Or have an offset account to deposit your extra pennies into it, which will count against the principal amount of your loan amount which means pay less interest over the life of loan.

3. Review or Refinance – Reviewing your home loan is a great way to find out if you are paying lesser in the market. If no, deal with your lender for a better rate. Or refinance from another lender which has a better rate in the market. Learn about the best lender in the market through Loanyantra’s experts.

4. Home Saver Plans – If you have a clear family budget and if your budget allows you to have surplus funds, then enjoy the home saver plans by different lenders in the market. Home loan overdraft facility is a great option to save now on interest paid on the loan over lifetime. Though the interest rate is comparatively high, it is worth opting a home saver plan instead of making the surplus funds lay idle in the account.


Piramal Housing Finance – Home Loan Types, Interest Rates, EMI Calculator and Eligibility Check

Piramal Housing Finance’s home loan interest rates start from 8.49% per annum.

Reading Time –

What You Will Learn From the Article –

  1. Introduction About Piramal Housing Finance
  2. Key Features of Piramal Housing Finance
  3. Why Piramal Housing for Home Loan
  4. Interest Rate and Method
  5. Eligibility Check
  6. Documents List
  7. Loan Amount, Tenure and LTV Ratio
  8. Other Fees
  9. PMAY Details
  10. Different Home Loan Products Details in Piramal Housing Finance.

Buying a home is the biggest dream of every individual. With the growing number of home loan providers, it has become easy for people to fulfil their dream of buying home. With the rising number of banking and financial institutions providing the home loan, it is easy for people to compare the interest rate provided by them and then choose the one which is the best. Piramal Housing Finance has recently become a popular medium of home loan. The Piramal Group though having its presence in the pharmaceutical sector has now expanded its wings in the financial sector and housing finance vertical of the parent company offers quick and easy home loans to the people. It is important to know more about the group before deciding to get funded from them by locking our documents with them.

About Piramal Housing FinancePiramal Group is a globally spread business corporation. The company has a strong foothold in pharma, IT, real estate, financial services, and glass packaging. It has its operation in over 30 nations of the world and access to more than 100 markets globally.

Piramal expansion in the financial service vertical: Piramal Capital & Housing Finance provides funding opportunities within real estate and non-real estate sectors. Piramal Housing Finance is a completely owned subsidiary of Piramal Finance Limited. The NBFC Piramal Housing Finance, provides various financial products like Loan Against Property (LAP), home loans and construction finance.

Piramal Housing Finance has already collaborated with some of the leading builders nationally like Lodha  World Towers by Lodha, Fairway West  by M3M Group, Global Techies Town by GM Infinite, Lodha Belmondo by Lodha, 25 South by Wadhwa. The company has initially focussed on tier I cities like Delhi/NCR, Mumbai, Bengaluru, and Pune.

Piramal Housing Finance is known to provide tailored home loan solutions that work in the best interest of the customers. If you are looking for a housing loan which is available at a lower interest rate and is hassle-free when it comes to documentation and processing, Piramal Housing Finance is a good choice for you.

Key Features and Benefits of Piramal Housing Finance 

The NBFC, Piramal Housing Finance is known to provide customized home loan solutions to its customers. Some of the key features that segregate Piramal Housing Finance from its contemporaries include the following

  • Piramal Housing Finance provides loan for buying the home directly from the developers for both, under construction and ready-to-move homes.
  • If you are looking loan for buying a resale property, Piramal Housing Finance helps you with the same.
  • The home loan tenure offered by the company is up to 30 years
  • You can choose from both fixed and floating rate of interest
  • Piramal Housing Finance gives you the option of choosing between the floating and fixed interest rates
  • The NBFC charges minimal processing fees
  • You also get the tax benefits on the home loan
  • Piramal Housing Finance gives you the option to choose home loan which is 20% higher than your eligibility. So allows you to buy a bigger home.
  • Top up without additional EMI.
  • Variable rate of interest will be linked to the benchmark rate of PHFL

Why Piramal Housing Finance for Home Loan

If it is about home loan then the biggest concern that holds most of the people back is the tedious paperwork and approval process. Additionally, it may happen sometimes that you might want to buy a bigger house but you might not be eligible to get the home loan. Piramal Housing solutions come as a rescue to all this. Piramal Housing Finance gives you  an easy access to home loan, the entire process of documentation and loan approval is comparatively simpler.

Piramal Housing Finance is known to provide the variable rate of interest, you can opt for a fixed or floating interest rate. Moreover, at Piramal Housing Finance you have the benefit of availing 20% higher loan amount. Thus making it a good choice for those who are looking for home loan.

Piramal Housing Finance Home Loan types, interest rates, eligibility, tenure, emi calculator, loan amount
Piramal Housing Finance Home Loan types, interest rates, eligibility and many more

Piramal Housing Finance Home Loan Interest Rate and Method Used 

Piramal Housing Finance’s home loan interest rates start from 8.49% per annum.

The calculation of the interest rate is done on basis of RPLR.

However, Loanyantra makes you a customised quote according to your requirements. All it takes to know your rate is just fill in the information in the form or call 040-71011991 and know top lenders different interest rates and get the lowest rate while you are sitting in your place.

Eligibility for Piramal Housing Loan

In order to take home loan from Piramal Housing finance or any other bank or NBFC, it is imperative that you must see whether you are eligible for the home loan or not.

Eligibility criteria specified by Piramal Housing Finance –

  • The applicant must be 21 years of age when he/she has applied for the loan.
  • The applicant must have a recurrent source of income so that they can easily pay the EMI.
  • All salaried and self-employed individuals can apply for the home loan.
  • CREDIT SCORE is the first and foremost step you should check. Without the score reaching 700, no lender can help you in granting the loan.

But be in touch with loanyantra for tips on maintaining good credit score. Which doesn’t allow your application to be rejected.

Co-applicant details- If you are looking for co-applying for the home loan at Piramal Housing Finance then the NBFC has the provision for the same. You can apply for home loan individually or with a co-applicant. Yes, having a co-applicant increase your eligibility for a great amount as compared to when you apply for home loan individually. Also be wise while choosing a home loan co-applicant, as the co-applicant’s credit score affects your loan application approval.

Documents Required for Piramal Housing Loan

Here is the list of documents that an individual seeking the home loan from Piramal Housing Finance needs to provide for quick and hassle-free approval of the home loan.

The documentation for Piramal Housing Loan has been divided under two categories :

  • Salaried individuals
  • Self-Employed individuals
Types of Home Loan Applicant Documents Required for Home Loan
Salaried Individual
  • Any one Identity Proof – Valid ID proof like Voter ID, Driving Licence, Aadhaar Card, PAN Card, Passport.
  • Any one Proof of Residence – Rent agreement, Utility bills of last 3 months like water bill, electricity bill, gas bill, telephone bill.
  • Age Proof –  PAN Card, Passport, Birth Certificate ( issued by the Government)
  • Proof of Employment – Recent  Bank statement reflecting the credited salary, Appointment letter , Form 16 for last two years
Self-Employed Individual
    • Identity Proof –  valid ID proof like Voter ID, Driving Licence, Aadhaar Card, PAN Card, Passport.
    • Proof of Residence – Rent agreement, Utility bills of last 3 months like water bill, electricity bill, gas ill, telephone bill.
    • Age Proof – PAN Card, Passport, Birth Certificate issued by Government authority.
    • Business Proof – Trade licence, SSI registration certificate.
  • The self-employed professionals must provide proof of their professional qualification when they submit the home loan application form.
  • Income Proof – P&L Statements , auditor report certified by a CA, ITR of last 2 years.


Minimum and Maximum Loan Amount for Home Loan from Piramal 

Piramal Housing Finance provides loan starting from Rs. 20 lakhs and the maximum loan amount it provides is Rs. 10 crore for a maximum tenure of 30 years.

Loanyantra’s Tip – You can even opt for lower tenure provided if you can pay more EMI. But this is a better plan to reduce your tenure when you have surplus at the end of the month. Get more tips from Loanyantra as a privileged Loanyantra Customer.

Loan To Value Ratio  – This ratio is dependent on loan amount you applied for and the market value of the property. This is also an important factor when you calculate your funds while investing.

Loan Amount Applied Loan amount upto 30 lakhs Rs. 30 lacs to Rs. 75 lakhs Loan amount more than Rs. 75 lakhs
Percentage Granted Upto 90% 80% 75%

Extra Fees To be calculated before proceeding further

Detailed tabular representation of the other charges charged by Piramal Housing Finance:

Particulars Amount
Processing fees Up to 3% of loan amount + applicable taxes
Part prepayment For those who have taken home loan at floating rate of interest, Piramal Housing Finance doesn’t charge fees.

For those who have taken home loan at fixed rate of interest, it is 2% of principal o/s on balance transfer + applicable taxes

NOC certificate issuance charges For the first time it is free and then it is Rs.500 plus taxes
CERSAI charges Rs. 500 + applicable taxes
Swap charges 0.50% of the loan outstanding + applicable taxes

Loanyantra’s Tip – If you belong to a gated community and all of you are looking for a home loan new, or balance transfer or resale, let one person represent your group to Loanyantra and rest all Loanyantra takes care for any discount on interest rate or processing fee waiver. Above all, you all get a discount subjected to then offers.

Home loan Insurance

Piramal Housing Finance is tied up with HDFC Ergo for Home Loan Insurance. It is always better to go for home loan insurance. Even you are out of funds, you can include that amount to the principal and pay the scheme premium through EMI.

It is made mandatory by all the lenders to the applicants for the safety of both parties to the applicants family as well as to the lender as well.

But make sure with what product you are going and how the home loan insurance is covered.

Pradhan Mantri Awas Yojna by Piramal Housing Finance

The most promising and futuristic dream of our PM, the Pradhan Mantri Awas Yojna, aims at providing a home to every individual. As per PMAY, the government aims to provide housing solutions, extensions, improvement, construction and improvement of a home to Lower Income Group People, Economically Weaker Section, Middle Income Group.

In alliance with this objective, Piramal Housing Finance provides the home loan to such people, however, they need to fall in the eligibility parameter specified by Piramal Housing Finance:

  • The family applying for this loan must not have a pucca house under his/her name
  • For the married couple, either of or both will be eligible for a single subsidy
  • The family must have not availed central assistance under any housing scheme form Government of India.
  • The beneficiary family must have not availed any benefit under any scheme of Pradhan Mantri Awas Yojna.
Type of House Eligibility Household Income Maximum Carpet Area Subsidized Interest Rate Purpose of Loan
LIG &EWS Upto Rs. 6 lac 60 square meter 6.50% For purchasing new home or constructing home
MIG1 Rs. 6,00,001- Rs. 12,00,000 90 sq. meter 4% For purchasing new home or constructing home
MIG2 Rs. 12,00,001 – Rs. 18,00,000 110 sq meter 3% For purchasing new home or constructing home

Loanyantra’s Precautionary Points – 

  • The beneficiary gets the interest subsidy upfront into your loan account.
  • The NPV or Net Present Value of interest subsidy is calibrated at 9% discount rate.
  • In case the applicant wants an additional loan, that extra amount will not be given at the subsidized interest rate.

Types of Piramal Home Loans

Apart from providing home loan for buying new house, Piramal Housing Finance offers varied types of loans.

Extension and Renovation of home

Purpose – If you want to renovate your house and are looking for financial assistance, then you can apply for the loan for Extension and renovation of home from Piramal Housing Finance.

Loan Tenure Maximum of 30 years or the age of retirement.


  1.    Salaried individuals
  2.    Self-employed individuals
  3.    Self-employed non-individuals

Rate of Interest Offered by Piramal Housing Finance– it starts from 8.40% and the RPLR or Retail Prime Lending Rate is 15.50%


Loan for self-construction

Purpose – If you are the believer of the fact that you must build your house and want to have financial assistance for the same, then you can contact Piramal Housing Finance which provides loan for self-construction. You can use this amount to build your dream house.

Loan Tenure Maximum of 30 years or the age of retirement.


  1.    Salaried individuals
  2.    Self-employed individuals
  3.    Self-employed non-individuals

Rate of Interest Offered by Piramal Housing Finance – Starts from 8.40% and the RPLR or Retail Prime Lending Rate is 15.50%

Super Loans

Purpose – There is yet another type of loan provided by Piramal Housing Finance which is known as Super Loans. Who doesn’t want a big house but sometimes one might not be eligible to get such a huge loan, for all such people and for those who are looking to buy a bigger house, Piramal Housing Finance provides Super Loan. In simple words, Super Loans gives you 20% higher loan eligibility or you can opt for 15% lower EMI than the existing loan.

Loan Tenure Maximum of 30 years or the age of retirement.


  1.    Salaried individuals
  2.    Self-employed individuals
  3.    Self-employed non-individuals

Rate of Interest Offered by Piramal Housing Finance – Starts from 8.40% and the RPLR or Retail Prime Lending Rate is 15.50%.

Loanyantra’s Role: Loanyantra gives you an easy access to various loan providers. You not only get the details of the different types of loan providers and their interest rates but at the same time, we also provide you SPOC that helps you with the complete modus operandi of loan application and approval. From completing paperwork to submission, Loanyantra will help you in each step. Not only this, but we also help you find out the best home loan provider. You can also check the EMI using our EMI calculator. With the help of this calculator, you get to know the details of the EMI that you would be paying to different lenders. All-in-all we are a one stop solution to all your home loan related queries. To explore more you can contact us online or call us to 040-71011991.





Home Improvement Loan Vs Top-up Loan

Home loan is a crucial one when you go for your dream home.

It is always important to beautify your home to add more happiness. For such kind of necessities, you need to work on your financials again after paying the down payment and after you start your EMI for your home loan. Home Improvement Loan is one such loan to fulfill all your needs.

The interiors of your house reflect your personality and to constantly upgrade it in terms of looks and convenience, all the banks and housing finance companies provide Home Improvement Loan.

Home Improvement Loan covers-

  • Complete renovation of already owned residential property
  • Upgradation
  • Repair of your house/flat
  • External & internal repairs/paint
  • Water-proofing & roofing
  • Tiling and flooring
  • Plumbing & electrical work
  • False ceiling & woodwork (fixed to the building)

What you should know about Home Improvement Loan :

  • The rate of interest usually is same as for home loan.
  • 80% of the property value is the maximum amount valid for home improvement loan.
  • Repayment period is same as for home loan.
  • You can repay the loan even before the tenure but check for repayment fees.
  • You can claim tax deduction when you are in home improvement loan. Both the co-borrowers can claim deduction.
  • Banks do not provide home improvement loan for a property which is older than 35 years.
  • Pay processing fees.

There is also an extensive range of home loan products like Home Purchase Loans, Home Construction Loans, Home Extension Loans, Home Improvement Loans and Plot Loans.

Home Improvement Loan vs Top up Loan. Which is better?
Home Improvement Loan vs Top up Loan. Which is better?

One will always think of top-up loan when in need of money.  Top-up loan is used when there is an immediate financial need. It is always recommended to go for a top-up loan if you are already in a home loan.

Everybody aims for a higher growth. For the steps to go forward in life, you might need a lump-some cash anytime. For such reasons exists, top-up loan on home loan.

Top-up Loan covers :

  • House renovation
  • Medical
  • Marriage
  • Education
  • New investment
  • To repay any other debt

What you should know about top-up loan : 

  • You can avail top-up loan only if you have an existing home loan.
  • The rate of interest usually is 0.5% – 1.00% more than the home loan interest rate.
  • 80% of the property value is the maximum amount valid for top-up loan.
  • The eligibility is based on your credibility and other loans.
  • Repayment period is same as for home loan.
  • You can repay the loan even before the tenure but check for repayment fees.
  • You can claim tax deduction when you are in home improvement loan. Both the co-borrowers can claim deduction.
  • Need to pay processing fees.

Everything is similar when you compare home improvement loan and top-up loan. If you have to choose one, give yourself the ratings for both the loan types based on the interest rate. Also, if you foresee any future financial necessity other than home renovation, it is better go for a home improvement loan when you are in need of any home remodeling.

Loanyantra helps you build the bridge between you and banks/financial institutes. To get a hassle-free guidance and home loan help, we are just a missed call away. Plan your loan well and close it early. Invest more and earn more.


ICICI Home Loan Interest Rates

ICICI bank home loan interest rate is at 8.65% (lowest when compared to other home loan lenders in the market)

Reading Time – 10 min

What you can expect in the article – 

  1. Why you should go with ICICI Bank home loan
  2. Key features of ICICI Bank home loan
  3. A glimpse of ICICI Bank home loan
  4. Eligibility criteria for ICICI Bank home loan
  5. Documents for Housing Loan from ICICI Bank (Salaried and self-employed)
  6. ICICI Bank home loan interest rates calculation with real examples.
  7. ICICI Bank home loan EMI calculator
  8. Extra Charges for ICICI Bank Home Loan
  9. CIBIL Score for ICICI Bank and factors affecting your score
  10. Our Answers about ICICI Bank Home Loan FAQs
  11. ICICI Bank Home Loan types and features

ICICI Home Loan – Why you should go with ICICI Bank Home Loan

Buying a home is a dream of every individual, thanks to the surge of banks and financial institutions that have made buying home easy. Home Loans are a popular way of fulfilling one’s dream of buying home. Most of the people opt for this method of purchasing a home, and the prime reason behind this is that home loan can be paid off in easy EMIs, and at the same time, it also offers various tax benefits. When it comes to banks and financial institutions offering home loans, ICICI Bank is a popular choice.

The ICICI bank is known for understanding its customer’s need and providing service accordingly. The ICICI bank offers home loan at a lower interest rate and higher repayment period. ICICI Bank is the best performed bank over years and is the first next bank after SBI to implement the RBI rules and rates. Additionally, the paperwork for a home loan is simpler for ICICI bank as compared to other banks. Also, ICICI bank offers doorstep service and smartphone applications thus making it the most preferred choice by the people looking for the home loan.

Going through Loanyantra for ICICI Bank Home Loan is an added advantage as you get discount on interest rates for the first year.

ICICI Bank Home Loan interest rates, eligibility, document home collection, instant approval
ICICI Bank Home Loan – Examples and Tips from Loanyantra

Key Features of ICICI Bank Home Loan:

  • ICICI bank offers doorstep service
  • Simpler paperwork
  • The ICICI bank also has a list of approved projects across India covering 12 cities thus making it easy for the home loan customer to choose an authentic plan.
  • ICICI Bank also provides loan against property which makes it easy for the user to get funds easily. The loan against property is available at an interest rate lesser than the Home loan interest rate.
  • Loan against property is available for both residential and commercial property.

A Glimpse of ICICI Bank Home Loan / Housing Loan Details – 

ICICI Bank Home Loan Interest Rate 8.75% to 9.00%
Processing Fees Housing Loan ICICI Bank 0.25% of the loan amount or Rs.11,500
Minimum Home Loan Tenure ICICI Bank 3 Years
Maximum Home Loan Tenure ICICI Bank 30 Years
Minimum Home Loan Amount ICICI Bank 30 Lakhs
Maximum Home  Loan Amount ICICI Bank 5 Crores
Pre-closure charges of Home Loan 0
Guarantor Requirement Not Required
Partial Pre-Payment Charges 0
Women Borrowers Home Loan Interest Rate ICICI Bank 0.05% lesser than the normal interest rate
Credit Score Required for Home Loan in ICICI Bank Minimum 650

Eligibility Criteria for ICICI Bank Home loan – 

  1.    The age of the borrower should be between 21 and 60 years
  2.    The borrower must have the minimum income of Rs. 25,000 and above
  3.    The salaried individuals must have been employed for a minimum of 2 years with their current company.
  4.    The maximum EMI can be up to 65% of the income.
  5.    The maximum loan as a percent of property value is up to 80%.

Documents for Housing Loan from ICICI Bank – 

For processing of Home Loan in ICICI Bank, it is important that you must submit all the documents. Here is the list of documents that you need to submit to ICICI Bank for home loan approval. Loanyantra’s experts will assist you in giving you details about the documents to be kept ready before the executive collects the documents for home loan from your door step. You need not roam around banks for the details of the documents and for submission. You might not have all the documents mentioned below. You can call the your assisted Loanyantra’s Manager and Loanyantra’s executive takes care of setting everything right for you. Also, don’t forget to always sign at the back of the documents by mentioning the date and purpose of the document submission.

Documents for Salaried Individuals for Home Loan from ICICI Bank –

  1. Duly filled the personal loan application form.
  2. Identity Proof which may be any of the following –
  • Voter ID
  • Adhaar Card
  • Driving License
  • Ration Card
  • PAN Card
  • Defense ID card
  • Government employee ID card

3. Residence Proof which includes the following:

  •    Passport
  •    Ration Card
  •    Voter ID
  •    Aadhaar Card
  •    Driving License
  •    Registered lease / rent agreement
  •    Bills like telephone, electricity or water bill
  •    Form 16
  •    Latest three months salary slip ( for salaried individuals)
  •    Last six-month bank statement

Documents for Self-employed Individuals for Home Loan from ICICI Bank 

  1. Duly filled the personal loan application form.
  2. Identity Proof which may be any of the following –
  • Voter ID
  • Adhaar Card
  • Driving License
  • Ration Card
  • PAN Card
  • Defence ID card
  • Government employee ID card

3. Residence Proof which includes the following –

  •    Passport
  •    Ration Card
  •    Voter ID
  •    Aadhaar Card
  •    Driving License
  •    Registered lease / rent agreement
  •    Bills like telephone, electricity or water bill
  •    Form 16

4. Last three years IT returns with the computation of income ( This is important for self-employed professionals as well as self-employed non-professionals).

5. The business owners need to submit their business profile.

6. Education qualification certificate and proof of business existence

7. Last three years CA approved P/L account or audited balance sheets


ICICI Bank Home Loan Interest Rate Details – Method used and Calculation

The ICICI Bank Home Loan Interest rates are calculated by using the method MCLR (Marginal cost lending rate), the rates that auto reset. The loan interest rates vary according to the tenure of the loan. Here are the details of the ICICI Bank loan interest rate details.

The method used by ICICI Bank to calculate home loan interest rate is MCLR.

The banks add spread rate, above MCLR, to calculate the final interest rate to the customers.

Spread rate above MCLR for ICICI Bank Home loan varies from 0.30 – 0.90%.

TIP from LOANYANTRA on Interest Rate

The spread component depends on various factors like employment, tenure of the loan, type of loan. If salaried, the spread rate is low, if self-employed the spread rate is high. The more the loan amount, the more the spread rate, the less the loan amount, the lower the spread rate.  If the interest rate is fixed for the whole loan tenure, the spread is high, the reduction in fixed interest rate tenure reduces your spread rate.

Which means, the MCLR is constant according to RBI’s policy. So, your interest rate depends purely on the spread component fixed by each bank as per their need.

For example – 3 scenarios explained with numbers to make the calculation of interest rate clear.

Scenario 1 – If you are a salaried individual, looking for 30 lakhs home loan with fixed interest rate for full tenure from ICICI Bank, then your interest rate is 9.90% If self employed, then 9.95%.

Scenario 2 – If you are a salaried individual, looking for 50 lakhs home loan with floating interest rate from ICICI Bank, then your interest rate is  9.00% (MCLR +0.45% Spread) for 80 lakhs home loan, the interest rate is 9.05%(MCLR + 0.50% Spread). If self-employed, then the spread is 0.50% and 0.55% respectively.

Scenario 3 – If women salaried borrower, then there is always a 0.05%discount on the interest rate. Which means the spread is 0.05% lower than the existing. Taking the same numbers as above, the interest rate for women borrowers is 8.95% (MCLR + 0.40%) for 50 lakhs loan and 9.00%(MCLR + 0.45%) for 80 lakhs loan.

NOTE – The interest rate discount for women self-employed is again calculated as per the self-employed category rates.

ICICI Bank Home Loan EMI calculator-

EMI calculation is a must before you go for a home loan to know yourself whether you can accommodate it in your budget. Hence, EMI calculators have recently become very popular. They give you an easy access to the complex home loan EMI calculation mechanism. ICICI Bank EMI calculator is featured in the ICICI Bank’s website where you can calculate your EMI of ICICI Bank Home Loan. Also, Loanyantra’s easy EMI calculator lets you understand the emi for different interest rates range. Also you can calculate all your varied loans’ EMI at once. Get an estimate of the EMI that have to be paid over a period. Loanyantra also gives you the feature of using the EMI calculator to get to know about calculating EMI of home loan from ICICI Bank.

To calculate emi manually,  follow this formula –

P*r* (1+r)^n/([(1+r)^n]-1)

In the above formula,

P = Home loan amount.

r = Interest rate of your home loan

n = Tenure (the repayment period) in months. In ICICI Bank the tenure is upto 360 months (30 years)

Extra Fees while Availing Home Loan from ICICI Bank –

What are the various charges that one has to pay while applying for a home loan?

Everybody must know before applying for home loan from ICICI Bank what costs your pocket when you are in home loan or even before availing home loan.

Prepayment Charges in ICICI Bank for Home Loan –

  • For the floating rate of the interest on ICICI Home Loan and Home improvement loans, there are no prepayment charges.
  • ICICI Home Loan fixed rate of interest has prepayment charges of 2% plus applicable taxes on the outstanding principal on full repayment
  • Late Payment Charges- 2% for every late payment month and for home loan Overdraft account, the late payment charges are  1.5% of the outstanding amount subject to a minimum of Rs. 500/- & Maximum of Rs.5000/-

Hidden Charges of ICICI Bank Home Loan –

Apart from the regular charges that bank asks for there are certain hidden costs that you must know before applying for a home loan from ICICI Bank:

  1.    Document Retrieval Charges- Rs. 500
  2.    Cheque bounce charges –Rs. 500
  3.    Repayment Mode Swap Charges- Rs. 500
  4.    Duplicate NOC- Rs. 100
  5.    CIBIL Report Charges- Rs. 50 plus service taxes
  6.    Administrative Charges- Rs. 5000

CIBIL Score required for approval of ICICI Bank Home Loan- 

An important point that the bank considers before sanctioning the home loan is the CIBIL score. It indicates how good your financial health is and showcases your credibility towards repayment of the loan. It is one of the most factors in your eligibility criteria that bank considers before approving the home loan or any other loan. CIBIL Score varies from one bank to another, but you must have a good credit score for a hassle-free home loan approval process. The minimum CIBIL Score that one must have to fall under the eligibility criteria of ICICI Bank is 650. Though it becomes tough to get the home loan with score 650, but it makes you eligible for the home loan.

What are the various factors that can affect the CIBIL Score?

It is very important for you to know what factors can affect your CIBIL score so that you can avoid those mistakes:

  • Late payments – Delayed payments of the loan negatively impacts the CIBIL score and also reduces the probability of loan approval.
  • Usage of credit limit – The bills of your credit cards and the usage of the credit limit shows your credit behaviour. Quick withdrawal of amount close to your credit limit shows the potential financial stress and thus may affect your credit score.
  • Multiple loan applications – In case you have applied for a number of loans in different banks, it can impact our credit score. In such instances of the negative CIBIL score, your applications may get rejected.
  • Applying for loan multiple times – If you had applied for a loan and your application got rejected because of bad credit score, then you wait and apply again after 6 months. If again your application gets rejected because of various reasons, your credit score gets impacted.
  • Checking the Credit Score – Checking the credit score again and again also affects your credit score. So, once checked, don’t check again until you think you paid all your bills on time atleast 6 months.

Our Answers to your Questions on Home Loan ICICI Bank 

FAQ’ s about ICICI Bank Home Loan –

Can I transfer my home loan from other banks and NBFCs to ICICI?

Yes, ICICI Bank gives you the option of shifting the loan or balance transfer of your loan from other banks and NBFCs to ICICI Bank. All this comes at the best home loan rate with EMI of Rs. 794 per lac. Loanyantra helps you in assisting while you want to balance transfer your home loan.

What is the maximum home loan tenure provided by ICICI Bank?

The maximum home loan tenure for ICICI bank is 30 years. Earlier, it was 20 years. ICICI Bank remains as the pioneer to increase the loan tenure to 30 years to support many all sectors of income borrowers as the longer the tenure, the lower the EMI.

Is there any tax benefit from a home loan from ICICI Bank?

Yes, home loan guarantees tax benefits to the individuals under the Income Tax Act of 1961.

Are there any charges levied in case I foreclose my home loan?

No, as per RBI, there are no charges on foreclosure of your home loan. But if you repay the home loan before 6 months of the disbursal, you are charged for the pre-closure of the home loan

Can I club the income of my wife/husband while applying for a loan?

Yes, you can do so, it will increase  your eligibility for a home loan. Your Spouse should also be a co-applicant to increase the eligibility.

What is the home loan interest rate offered by ICICI bank?

ICICI Bank offers lower interest rate starting at 8.65%. Going through Loanyantra reduces your ICICI Bank home loan interest rate even lower. Loanyantra’s reports show that the maximum number of borrowers opt for ICICI Bank for its prompt action according to RBI rules.

Can I convert my home loan interest rate from fixed to floating? If yes, what are the different charges?

ICICI Bank allows you to change the interest rate from fixed to floating and vice-versa, however, there is a certain charge that you need to pay:

  • From Fixed to Floating= 0.5% of the outstanding loan amount plus tax
  • Floating Rate to Fixed =0 .5% of the outstanding principal plus tax

However, while applying for home loan , you can opt for 2 year, 5 year and full term fixed interest rate, which will be slightly higher than the prevailing floating interest rate. After the fixed tenure, the interest rate automatically changes to the then existing floating rate.

What is the CIBIL score for getting my home loan approved from ICICI Bank?

A good CIBIL score is a must for getting the home loan approved, for ICICI bank you must have the CIBIL score of 650. An excellent CIBIL score ensures that your investment is quickly approved.

ICICI Bank Home Loan Types and Features-

1. ICICI Bank Pre-Approved Loan: This is a special provision for selected existing customers of ICICI Bank. Such customers don’t have to undergo the trouble of heavy documentation for loan approval.

2. Home Loan Insurance: To make home loan repayment easier even under unseen situations and to keep their customer worry-free, ICICI Bank provides home loan insurance which makes repayment an easy job.

3. Personal Loan linked to Home Loan Schemes: If you have taken home loan from ICICI Bank then there is a provision for applying for personal loan related to your ICICI Bank’s home loan. The private loan tenure for this is the same as a home loan. The tenure period of the personal loan is the same as the ICICI Bank home loan period.

4. ICICI Home Loan Transfer and Top Up: This is an auditing feature offered to those customers who are transferring their home loans from other banks to ICICI Bank. The bank provides such customers with a top-up credit which can be up to 100 % of the assigned amount.

5. Saral Rural Housing Loan: This loan ranges from Rs 5 lakhs to Rs.15 lakhs and tenure of 3-20 years. The objective of this loan is to empower women and people of weaker section.

6. Lease Rental Discounting Loan: This type of loan is raised against future expected rentals of self-owned property. For the loan to be approved, the commercial property should be occupied by lessee. This kind of loan is very helpful in raising funds for the wedding, child’s education renovation work, etc.

8. Land Loan: This loan can only be availed for purchase of land for self-construction.  An important point to note is that the nation should fall within the municipal limits. But, the construction on the plot should be completed within two years of the first amount disbursement of the sanctioned loan.

9. ICICI NRI Home Loans: For an NRI to buy property in India can be a daunting task especially when it comes to banks approval, validation, and paperwork. ICICI Bank has the provision of NRI Home Loans. NRIs can buy home, land, flat or any residential property. NRIs have to do the repayment of the loan in Indian Rupees only.

10. Pradhan Mantri Awas Yojana – In order to support the initiative of Government of India, ICICI Bank provides the home loan at subsidized rates to the economically weaker section of the society. The interest rate offered by the bank is 6.5%, and the tenure is up to 15 years.

11. Balance Transfer: Another great provision that ICICI bank has is that it allows its members to transfer the loan from other banks and NBFCs to ICICI at the lower interest rate and longer tenure thus making ICICI bank a popular choice among the individuals who are looking for balance transfer.

12. ICICI Home Loan Overdraft –  The home loan of the customer is linked to the ICICI Bank’s salary account and then the EMI is calculated. The interest rate is a bit higher than the normal loan but it is an option looked out if the money is lying idle.

Our Role: Planning to buy home loan and want to go through a hassle-free process, contact Loanyantra- your tool for easy and seamless loan approval. We are a one-stop solution and advisory related to different types of home loan and other loans. Our website will give you a complete insight into the loan application, interest rates offered by different banks and paperwork related to the same. All this aims at making your home loan application process an easy one. For more information about ICICI Bank home loan, contact us today.





Interest Rate Subsidy on Housing Loans – Home Loans at Discounted Interest Rate

Interest Rate Subsidy on Housing Loans – Know Everything About Home Loans at a Discounted Interest Rate.

The year 2016 ended with the honorable Prime Minister Narendra Modi’s much awaited speech. The speech gave hopes to the poor, women and senior citizens. The housing policy schemes by the P.M., made easy for the poor to have a home of their own. The new policy of home loan interest rates subsidy to the needed, raised hopes in availing a home with the help of housing loan. That too for really lower interest rates.

So, here are more details about Pradhan Mantri Awas Yojana and Credit Linked Subsidy Scheme.

All about Pradhan Mantri Awas Yojana (PMAY)  

  1. This scheme is valid in urban India (towns, cities, metros) for urban poor of income below 6,00,000/ year and age between 21 years to 58 years.
  2. Women play vital role in this scheme. A family comprising of husband, wife and unmarried children. Beneficiary should not own a pucca house either in their name or in the name of any member of their family in any part of India to receive central assistance under the Mission Meeting income criteria defined under the scheme
  3. Credit Linked Subsidy is available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc., to existing dwelling as incremental housing.  The carpet area* of house should be constructed or enhanced under this scheme should be upto 30 sq.meters for EWS(Economically Weaker Section) category and upto 60 square meters for LIG(Lower Income Group) category.
  4. For identification as EWS/LIG beneficiary under the scheme, an individual loan applicant should submit self-attested certificate/affidavit as proof of income.


What is CLSS, Credit Linked Subsidy Scheme?

Any citizen of India can enroll for CLSS under the following conditions. The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.

This new policy of Credit Linked Subsidy Scheme (CLSS) is applicable for the Lower Income Group (LIG) of household income less than Rs.3,00,000 and the Economically Weaker Section (EWS) of household income less than Rs.6,00,000, not only for limited square feet.

So, now let us go into details of how the CLSS, Credit Linked Subsidy Scheme works.

Any eligible applicant who choose a carpet area within  60 sq.m(645 sqft) of a flat/house then the applicant gets an home loan interest rate upto INR 12,00,000/- availed from the bank.

And if any eligible applicant is applying for 2 bhk of 975 sqft super built up area which has 644sq.ft of carpet area, then the flat can cost Rs. 40,00,000. Now, the applicant can enjoy interest rate subsidy on housing loan for Rs. 12,00,000.

The possible subsidy ROI as per Honorable PM speech is 4% less than the current market home loan interest rate. The non subsidized interest rate follows the existing market interest rate, which is currently 8.5%.

Example for PMAY CLSS,  Indetail. 

If any qualified applicant having gross salary of Rs.50,000/- per month and age is 30 years, the person is eligible for 37.88 lakh for maximum tenure of 28 years tenure and 30 lakh for 15 years tenure(know more and calculate your eligibility ).

So, the applicant, out of Rs. 40,00,000 has to pay down payment of 20% of the market value, which is Rs. 8,00,000. For the rest of Rs. 32,00,000/-, the applicant can go for a home loan. Under Pradhan Mantri Awas Yojana (PMAY)  Credit Linked subsidy scheme(CLSS) Rs. 12,00,000 will be subsidy interest and other Rs. 20,00,000 (Rs. 32 lakhs – Rs. 12 lakhs ) go as a non subsidy which has existing market rate of interest.

Carpet Area*: Area enclosed within the walls, the actual area to lay the carpet. This area does not include the thickness of the inner walls.

NOTE : Under the Mission, beneficiaries can take advantage under one component only.

Housing and Urban Development Corporation(HUDCO)  and National Housing Bank(NHB) have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress of this component. Ministry may notify other institutions as CNA in future.

How to Enroll and Apply for Credit Linked Subsidized Scheme (CLSS).

Banks have a separate application for this kind of loan. Follow the official link to  download the application.

If an applicant can qualify under Pradhan Mantri Awas Yojana (PMAY) for Credit Linked subsidy scheme(CLSS), the applicant can apply through partnered banks and get assured lower interest till you close the loan.




Home Loan Interest Rate

What is Home Loan Interest Rate?
Home Loans have become the best medium to buy homes. Banks and NBFCs offer various home loan schemes and alluring interest rates that attract the home buyer. The key deciding factor for a customer to avail home loan from a particular financial institution is determined by the interest rate. The interest rate is charged on the principal loan amount.

What determines interest rates on Home Loan?
It is the bank that decides their lending rates. This depends on their cost of funds and NIM or Net Interest Margin which the banks need to earn a profit and cover their operation cost.

RBI decides on the repo rate and the reverse repo rate through which the banks or the financial institutes determine the lending interest rates or home loan interest rate. If RBI reduces the Repo rate, the banks also reduce the lending interest rates. If the RBI increases the Repo rate, the banks  also increase the lending rates. As the repo rate and reverse repo rate control the liquidity of the funds in the economy. RBI increases the Repo rate, the rate at which the RBI lends money to the banks, to control inflation, to control the money outflow, and vice-versa with reverse repo rate.

An important point to note here is that home loans to salaried employees are offered at a lower rate as compared to those who are working in the unorganized sector; the prime reason for this is the stability of income of salaried employees.

The home loan interest rates calculation by the nationalized banks is presently based on MCLR or Marginal Cost of Lending Rate method. To this rate, the spread is added and then the final interest rate is mentioned to the customers or borrowers. And the NBFCs use Prime Lending Rate (PLR) calculation method.

Types of Home Loan Interest Rates
There are two kinds of home loan interest rates:
Fixed Interest Rate Loan- This rate of interest remains fixed and the borrower has to pay a fixed EMI during the home loan tenure. The market fluctuations don’t impact the home loan rate. A major point of concern when it comes to fixed home loan rates is they are 1-2.5% higher than the floating rate of interest. If a borrower has fixed home loan then he/she doesn’t get the benefit if the home loan rates go down. Their EMI remains unaffected by it.
Floating Interest Rate Loan- As the name indicates, floating rate loans have interest rates that change with the market condition. The are highly susceptible to market fluctuations. If the base rate changes, the floating rate also gets changed along with it. They are usually cheaper than the fixed rates but being highly influenced by the market condition they may vary as the RBI changes the rates.

home loan interest rates
Home Loan Interest Rates

Factors affecting your eligibility, home loan and interest rate – 
1. Income – No matter how small your income is. It depends on your lender how much they can finance the property based on other factors.
2. Credit score – Though you are eligible with respect to every other factor, if you have a bad credit score, rest everything fails. Hence, it is a usual practice to check the credit score while checking your eligibility. Even if you have a very bad score, 6 months of good repayment again can help you get a good credit score through which you can apply for a loan.
3. Location of the property – Home loan sanction varies according to the place and state of the property located. Getting a loan for a gated community in urban India is easier when compared to the loan for a plot in rural India.
4. Loan amount – According to the property you choose, the amount that can be availed for loan is decided. Most of the national banks fund 80% of the price of the property and some of the NBFCs can fund 90% of the price of the property. You can go with national banks or private banks, if you have all the documents of the property in right place.
5. Type of loan – If you are already with a home loan and you still look for financing your expenses, there are many other loan options you can opt for but only if you meet the eligibility. You can go with home improvement loan, top-up loan or even personal loan to meet your ends. Interest rate for each loan varies.
6. Loan tenure – Loan interest rate, emi amount, tenure are the major factors to determine the loan. Everything is inter-related. Now lenders offer tenure upto 30 years so that you can have low emis according to the existing interest rate.
7. Type of interest rate – Fixed interest rate is a bit higher than the existing interest rate. Floating depends in the market trends. Hybrid interest rates are those loan products which offer fixed interest rate for the first five years and change to floating after 5 years automatically. You should be aware of how the interest rate is changing ang when it changes. If you keep your tenure constant, your emi keeps changing according to the interest rate you opted for.
8. Employment type – The interest rate, whether fixed or floating, depends on your employment type. For those of self-employed individuals, the interest rates are a bit higher when compared to the salaried individuals. Also for the women borrowers, the interest rate is 0.05% low. So, it is suggested to take loan on your wives name or mothers name or sisters name to enjoy the low interest rates.
9. On-going promo offers – To attract the loan borrowers, now lenders promote their products by no processing fees period or zero legal charges, or less interest rates for just one month, etc. It is advisable to wait for such times if you can, and opt for loan during such time. Any little amount reduced on our expenses will always pave way for something good.

Calculate your EMI.

When you apply for a home loan, the first thing you check is, calculate your budget, the expenses and surplus, etc. The same way, banks judge your repayment capacity by checking your eligibility by calculating your EMI. Loanyantra shows your approximate EMI as you enter your salary details, interest rate and tenure.

Calculate your Equated Monthly Instalment (EMI),, before even applying to any bank. Know different banks interest rates, and calculate and adjust exactly for your budget and fix for your favourite lender. Even Rs.1000, less also make difference when you can save on your EMI. Get expert advice from Loanyantra as to which bank provides special offers and know the right bank according to your requirements. Calculate your emi for any type of loan, personal loan, balance transfer, home loan or part payment all in one go.

Know your Tenure – Earlier were the days when home loan tenure used to be 20 years. Now, to make the home buying easy and affordable to every one, the emi should be low, so the lenders in India now increased the tenure to 30 years. So, if you want to reduce the emi, increase your home loan tenure to 30 years but try to repay before your retirement. Calculate your emi based on the tenure change. Decide on how much you need for expenses and how much you can pay for the loan based on the tenure. Tenure and emi are inversely related. If tenure is increased, emi is reduced. If tenure is reduced, emi is increased.

Check your Eligibility for Home Loan –

Home loan lenders first check your eligibility before even asking for any property documents. Usually, any lender would look for your credit score and salary to know your repayment capacity. Next step is to look at the property’s details by legally verifying the documents.

If you are not eligible for the loan from your lender, understand that either you applied for the loan amount more than you are eligible for or your credit score is bad. Pay your pending bills so perfectly at the right time for 6 months and check your credit score. This increases your credit score.

You might lose eligibility even if your property fails to clear the legal check. So, when you apply for the home loan, loanyantra can suggest you the best lender according to your requirements. You might like the property or it might fit in your budget or it is your ancestral property which doesn’t have all the required documents. So, there are lenders who might lend you for a home loan even at the best rates and at competitive home loan interest rates. So, get eligibility, know your eligibility, calculate your eligibility and get the instant loan and fastest loan disbursal from

Documentation for Home Loan –

1. Passport-size photographs of the borrower and the co-applicant if any.
2. Completely filled application issued by the financial institution.
3. The latest or the last three months salary slip as asked by the bank
4. Bank’s last six-month statement showing salary credited.
5. ID proof like Pan card, Adhaar card (mandatory), driving license, voter ID, Passport and employment ID card in case of salaried professional.
6. Proof of address
7. Proof of Age (Either of these): 10th or 12th Marks Cards, PAN Card or Voters ID Card.
8. In case you are self-employed or a businessperson, then you have to submit documents which prove the existence of your business and academic qualifications along with the financial statements.
9. Bank statements which show that home loan EMI deduction. Usually, it is of last 12 months.
10. Loan statement of the company and the entire set of documents related to the property that is currently in possession of the home loan provider.

Documentation for home loan is necessary, you are required to go through some paperwork, which assures the lender that you can repay the loan amount. Banks or other financial institutions require you to submit certain documents for home loan so that they can proofread it and also adjudge your credibility for home loan. Make sure that all the documents are correct and appropriate as the approval of the bank depends on your repayment capabilities which are decided by the documents. helps you in every step. Start your research with Let us know your requirements. Get all the suggestions you need and choose the best from the major lenders in India. All you need to do is just give a missed call to 040-71011991. You get a call back from our relationship manager and you can discuss in detail about your requirement.




Home Loan Balance Transfer – Eligibilty, Calcualtor, Documentation


Home Loan Balance Transfer is switching your lender or transfer your balance loan amount from one bank to other bank for quite some valid reasons. Buying a home was never as easy as it is today. Home loans are a great way for people to fulfill their dream of buying a home. However, home loans are dependant on EMI, tenure and interest rate. The home loan interest rate, 2018 varies from 8.35% to 12 %. And interest rate changes according to the RBI’s repo rate which depends on the economy’s growth. EMI depends on the tenure of the home loan. Tenure can be fixed to 20 years to 30 years. So, the EMI varies according the interest rate and tenure of the home loan. Over a period you might feel burdened with the pressure of EMI payment because of the change of interest rates, in such cases, one can opt for home loan balance transfer.

Home loan balance transfer is an excellent facility given by the banks to people to transfer their home loan from one bank to another where the interest rates are lesser. But, before getting ahead, let’s have an understanding of home loan balance transfer.

This term is popularly known as refinancing or Balance Transfer. It allows you to reap the benefits of lower interest rates offered by other banks of financial institutions. Usually people having a remaining home loan amount transfer it to another bank or NBFC which is offering a lower interest rate. To sum it in simple words, home loan balance transfer is the process of transferring the outstanding loan amount. It saves the borrower from the pain of high interest rates.


  1. It involves transfer of outstanding home loan from one lender to another lender.
  2. It requires payment of processing fee which is about 1% of the loan transferred amount which is remaining loan amount.
  3. The entire process of balance transfer of home loan involves similar paperwork and other formalities as it is in the case of home loan.
  4. One can only apply for home loan balance transfer only after certain number of years of availing home loan. This time period is pre-determined and is mentioned in the original home loan agreement.

The Home Loan Balance Transfer, also called the ‘refinancing’ of a Home Loan, may be advisable under certain circumstances. However, it may not always be the ideal solution for the problems you face with your lender.

For more information –


The first and the foremost advantage of home loan balance transfer is, it saves your money. Usually, people go for the option of balance transfer if they find any lender is offering a lower interest rate as compared to their current lender. The difference of interest rates, the tenure of the home loan amount and outstanding amount are the contributing factors in the process of home loan balance transfer.

It is always advisable to make a switch of banks or lenders for your home loan, after you have thoroughly analyzed the interest rate difference between the two lenders. Once you find that there is going to be a significant difference, you must go ahead. If you are going for home loan balance transfer, you must first know the rules for the same and also do the cost-benefit analysis. It means that this process of refinancing must bring down your monthly EMI or lessen the time period and also decrease the cost of acquisition.


Do you experience atleast one among the below mentioned reasons –

  1. Frustrated about the lender because of delayed and laid back customer solutions for queries and requests?
  2. Paying more than the existing rate of interest?
  3. Attractive products with other lenders?
  4. More discounts and benefits with other lenders?

If you feel yes, for any of those, then you have to surely look out for a balance transfer option with reduced EMI every month which helps you to plan something more important in your budget. Cutting down the total amount of money to be paid as the interest on the loan which means it in turn reduces the tenure of the home loan also. Also apply for home loan balance transfer to avail attractive discounts and benefits offered by another lender. Save time, money and energy with Balance transfer.

When Can You Go For A Home Loan Transfer


Similar to other loans, to avail the home loan balance transfer one must be eligible and hence it becomes important to know about the eligibility criteria for refinancing or home loan balance transfer. Anyone who has availed home loan is eligible for home loan balance transfer. An important point to note here is that if you have regularly paid your EMIs of home loan, you can go for home loan balance transfer. Although the criteria by most of the lenders remain the same, you may find some difference with each lender.

But, here is a generic eligibility criterion for home loan balance transfer :

  1. Firstly, you must be an Indian national above 21 years of age to be eligible for home loan balance transfer. The age bar is between 21 to 60. For a self-employed individual the age slab is up to 65 years.
  2. You must have an excellent credit rating. Irrespective of the fact that you had good credit rating at the time home loan application, if the credit rating decreases after applying for home loan, you might not be able to avail home loan balance transfer facility.
  3. If you are a salaried professional, you must be employed with your current professional for a certain number of years. Usually, this period is two years.
  4. You must have the capacity to repay the loan.
  5. Some banks may ask for Minimum sum gross family income as mentioned by the lender.


The rules for home loan balance transfer include submission of all the documents and papers (discussed later), submission of ID and address proof, good credit history, good CIBIL score and surety that as an individual you would be able to repay the loan amount to the bank or NBFC.

As per the RBI guidelines for home loan balance transfer and home loan, the money lenders or the banks are not allowed to charge anything for prepayment of floating interest rate loans. Thus, the home loan balance transfer charges as per RBI guidelines are also influenced by this decision.


Home Loan Balance Transfer Documents required by the banks or NBFCs :

  • Passport-size photographs of the borrower and the co-applicant if any.
  • Completely filled application issued by the financial institution.
  • The latest or the last three months salary slip as asked by the bank
  • Bank’s last six-month statement showing salary credited.
  • ID proof like Pan card, Adhaar card (mandatory), driving license, voter ID, Passport and employment ID card in case of salaried professional.
    Proof of address
  • Proof of Age (Either of these): 10th or 12th Marks Cards, PAN Card or Voters ID Card.
  • In case you are self-employed or a businessperson, then you have to submit documents which prove the existence of your business and academic qualifications along with the financial statements.
  • Bank statements which show that home loan EMI deduction. Usually, it is of last 12 months.
  • Loan statement of the company and the entire set of documents related to the property that is currently in possession of the home loan provider.

Just like your home loan or any other loan, in case of home loan balance transfer you are required to go through some paperwork, which assures the lender that you can repay the loan amount. Banks or other financial institutions require you to submit certain documents so that they can proofread it and also adjudge your credibility for home loan balance transfer.

All these documents provided by the borrower is revalidated and vetted by the bank or NBFC. You must make sure that all the documents are correct and appropriate as the approval of the bank depends on your repayment capabilities which are decided by the documents.


The process of balance transfer of home loan involves a few basic steps –

Your first step for home loan balance transfer is to send an application for Home Loan transfer to your current bank. They should then provide a No Objection Certificate (NOC), foreclosure letter, a statement specifying the outstanding balance on your Home Loan, a statement of your EMI payments so far, and a list of the loan related documents available with them.

For balance transfer, you have to submit the documents to the new bank, along with whatever else they may ask for. This might include your KYC documents, income proof, a no objection certificate from the builder/developer if they are being repaid through the Home Loan.

The new lender will then verify all the information, and do a complete reassessment of your creditworthiness and property. Once the loan is sanctioned, the representatives of the two banks will meet. The new bank will hand over the cheque for foreclosing the old loan and the previous lender will hand over all the relevant documents to the new lender.
Now, your Home Loan is with the new bank and you can enjoy the benefits offered by the switch.


Usually, people look for Home loan transfer to the top most lenders in the market like :
SBI or State Bank of India

STATE BANK OF INDIA HOME LOAN BALANCE TRANSFER  – SBI is one of the most trusted banks in India and offers great benefits and advantages. The SBI home loan balance transfer scheme with a low-interest rate is one of them. The SBI is one of most convenient and easily accessible bank. SBI home loan balance transfer charges are Up to 0.35% of your outstanding loan amount (maximum ₹11,500) (one-time fee).

ICICI BANK HOME LOAN BALANCE TRANSFER : ICICI BANK is also one of the leading private banks in India. ICICI offers benefits like top-up loan amount up to 100% of the original home loan. Apart from this, ICICI bank offers to lure interest rate and simplified documentation. The ICICI home loan balance transfer charges are 0.5 % of your outstanding loan amount(Maximum. ₹11,500) (one-time fee)

HDFC BANK HOME LOAN BALANCE TRANSFER : HDFC BANK is one of the leading home loan providers in India. You get an option of the top-up load which doesn’t exceed Rs. 35 lacs on your current outstanding amount, The series of benefits by HDFC banks include lowered interest rate, customized repayment options, and simplified paperwork. HDFC home loan balance transfer charges are up to 0.5 % of your outstanding loan amount.



Processing Fee
  • 0.35% of the outstanding loan amount
  • Minimum Rs.2,000 or Maximum  Rs.11,500


Processing Fee 0.5 % of outstanding loan amount or Maximum. ₹11,500 (One-time  fee)


Processing Fees •    For a self-employed professional it is Rs. 3000 or 0.50% of the outstanding loan amount, whichever is higher along with the taxes.

•    Self-employed non-professionals it is Rs.4,500 or 1.50% of the outstanding loan amount, whichever is higher, plus the applicable taxes.

Salaried individuals it is  Rs.3000 or 0.50% of the loan, whichever is higher, plus the applicable taxes.



SBI 8.35% 0.50%
Minimum Rs. 10,000 – Maximum Rs. 10,000
ICICI 8.45% 1.00%
Minimum Rs. 5,000 – Maximum Rs. 5,000
Rs. 765
Bank of Baroda 8.40% 0.50%
Minimum Rs. 7,500 – Maximum Rs. 20,000
Rs. 762
HDFC 8.40% 0.50%
Minimum Rs. 10,000 – Maximum Rs. 10,000
Rs. 762
LIC Housing Finance 8.50% 0.50% Rs. 769
Union Bank of India 8.30% 0.50%
Maximum Rs. 15,000
Syndicate Bank 8.55% 0.13%
Minimum Rs. 500 – Maximum Rs. 5,000
Rs. 772
Axis Bank 8.40% Minimum Rs. 10,000 – Maximum Rs. 25,000 Rs. 762
DHFL 8.35% 0.50%
Minimum Rs. 2,500 – Maximum Rs. 20,000
Rs. 758
PNB Housing Finance 8.85% 1.00%
Maximum Rs. 10,000
Rs. 794
Indian Overseas bank 8.40% 0.53%
Minimum Rs. 8,900 – Maximum Rs. 13,350
Rs. 762
South Indian Bank 9.00% 1.00%
Maximum Rs. 10,000
Rs. 805
Federal Bank 8.95% 0.50%
Minimum Rs. 3,000 – Maximum Rs. 7,500
Rs. 801
Central Bank of India 8.45% 0.50%
Maximum Rs. 20,000
Rs. 765
United Bank of India 8.45% 0.59%
Minimum Rs. 1,180 – Maximum Rs. 11,800
Rs. 765
Canara Bank 8.65% 0.50%
Minimum Rs. 1,500 – Maximum Rs. 10,000
Rs. 780
Vijaya Bank 8.65% 0.50%
Minimum Rs. 1,000 – Maximum Rs. 20,000
Rs. 780
LT Housing Finance 9.90% 2.00%
Minimum Rs. 4,999
Rs. 870
Punjab and Sind Bank 8.40% 0.25%
Minimum Rs. 1,000 – Maximum Rs. 15,000
Rs. 762
IDFC Bank 8.65% Minimum Rs. 2,500 – Maximum Rs. 2,500 Rs. 780
Bank of Maharashtra 8.65% 0.50% Rs. 780
Reliance Capital 10.00% 1.00%
Minimum Rs. 3,000 – Maximum Rs. 6,500
Rs. 878
PNB 8.35% 0.50%
Minimum Rs. 20,000 – Maximum Rs. 50,000
Rs. 758
Syndicate Bank 8.55% 0.13%
Minimum Rs. 500 – Maximum Rs. 5,000
Rs. 772


Before opting for a balance transfer, calculate your EMI, as per the interest rate and tenure. Switch homes only when you make really a prominent impact. Do your math and then enjoy the benefits. Make sure you are on the right path. Use Loanyantra’s balance transfer calculator and choose your lender.


While you refinance your home or look of balance transfer, your chosen lender will also look for your credit score. At the same time, the lenders look for your co-borrower’s credit score too. So, carefully choose and your co-borrower while you opt for loan balance transfer.

How to add a co-borrower when you refinance a home?


Home loan balance transfer for NRIs is also made easy as one can give the power of attorney to a reliable person. So, choose any lender and fulfil all the required steps and get the balance transfer from different banks done. Learn more –

Applying for Home Loan or Balance Transfer Home Loan as an NRI / OCI/ PIO

LOANYANTRA.COM AND HOME LOAN BALANCE TRANSFER – is a name synonymous with providing simplified loan services to the people who are planning to buy home. Our one-stop solution web portal will guide you through home loan schemes, procedures, documentation and find out the best bank or NBFC that helps you avail loan at a lower interest rate. We will help you understand how much you can save in case you plan to do the home loan balance transfer and also find the right bank for the same. It is a great gate way to switch from an expensive loan to a lower interest rate. At Loanyantra we have helped many customers save money by helping them find a lender who offers lesser interest rate. To know more about how Loanyantra can help you, sign up with us today or just give  a missed call to 040-71011991. Know more how we manage your loan …

Online Quotes for Fresh Home Loan and Balance Transfer




5 questions for home buyers to ask!

If answered accurately, they will help you take a more informed decision

Questions for home buyers to askNo loans to repay, modest aspirations and not a very ambitious retirement target. For Mumbai-based bank executive Alpesh Mehta and his schoolteacher wife Deepali, saving for their child’s education and marriage, as well as their own retirement, will be a breeze. But this could change if they go ahead with their plan to buy a house.In Mumbai, the minimum price of a 800-1,000 sq ft house is `1 crore. They will have to liquidate all their existing investments to raise about `20 lakh for the downpayment. The balance `80 lakh, if borrowed at 10% for 20 years, will mean an EMI of `77,200, which is roughly 60% of their combined monthly income of `1.3 lakh. Either the Mehtas will have to stop saving for their child’s goals or their retirement will have to be pushed back.The Mehtas are not the only ones entering this minefield. Across the country , a number of people are firming up plans to buy a new house. The New Home Index of Zyfin Research, an indicator of home buying plans of 3,000 households across 11 cities, has inched up in the past 12 months (see graphic).Though it is still in pessimistic territory, buyers are less pessimistic now than they were in May 2014. “The decline in pessimism has more to do with increased optimism about future income and job security than lower borrowing costs,“ says Debopam Chaudhuri, Chief Economist and VP-Research, ZyFin Research.

Despite the surge in buyer sentiment, real estate is still not a good investment in most parts of the country .Property price are still very high and despite the recent interest rate cuts, the cost of borrowing has not come down significantly. Before they take the plunge, potential borrowers need to ask themselves 10 questions. Your answers will tell you whether you should save more for a bigger down payment, buy a smaller house, invest in a cheaper city or not buy at all.

1. Can you afford the home loan EMI?

It might sound a no-brainer, but many home buyers get this wrong and bite off more than they can chew. The home loan EMI should be around 40% of your net household income. But that is if you don’t have other loans. A high EMI outgo can put your house-hold budget under pressure. If the home loan EMI accounts for more than 50% of the net household income, other goals will have to be downsized or junked altogether.Don’t be fooled into thinking that the recent cut in home loan rates have made property a viable investment. It will have a marginal im-pact on the total EMI. A 25 basis point cut will reduce the EMI of a `50 lakh loan for 20 years by `826.

It’s easy to get ambitious and go for a bigger loan if you are expecting generous increments in the coming years. Don’t make the mistake of leveraging on future income. While your income would certainly rise, but so would your expenses and financial commitments.

2. Have you factored in the other costs?

The advertised price is usually the base price of the property . The add-ons are usually kept hidden till you sit down with your cheque book. Many builders will slip in charges for facilities that you thought were free with the property. Others will keep certain charges hidden from the buyer by tucking them away in the fine print. These apart, there are other big-ticket add-ons such as the legal costs. The stamp duty and registration charges payable to the authorities add up a neat 7-8% to the overall price of the property. In all, these charges can push up the property price by 20-25%. Make sure you have factored in these additional costs.

3. Have you considered renting?

The high property prices means that renting is a better option in most cities.A 2-BHK house in Mumbai will cost close to `1.2 crore. If a buyer puts in `40 lakh as downpayment and takes a loan of `80 lakh, the EMI for 20 years comes to about `76,500. He also loses around `23,500 in interest that the `40 lakh downpayment could have potentially earned. The total cost per month comes to `1 lakh while he can easily get a similar house on rent in Mumbai for about `40,000-45,000 a month.

Don’t go by hypothetical examples.Instead, use an online rent-or-buy calculator to find which is is better for you.The one developed by is a sophisticated online tool that takes into account several things, including the cost of the house, the amount of downpayment, the rate of interest of the home loan, the expected appreciation in the house price, the rent payable for a similar accommodation in the area and even the expected hike in the rent every year.

4. Will house value rise faster than the interest on loan?

In the early 2000s, when home loans were available at 6-7% and property prices were galloping at 20-25%, it made eminent sense to invest in an upcoming apartment project. Now, property prices are appreciating at a slower pace. In some markets, such as Noida and Greater Noida in the NCR, prices have even come down in the past 12-18 months.

If you are buying property as an investment with a loan, first assess whether its price will appreciate at a rate higher than what you are paying on the loan. “If you are payings 10% on the loan and the property price is expected to appreciate by 5-6%, then it is a bad buy,“ says Manish Shah, Cofounder and Chief Executive of Shah says the expected rate of appreciation is the single biggest determinant in their rent-or-buy calculator. “It makes the biggest difference in the decisions,“ he says.

5. Will this purchase force you to postpone other major goals?

Stagnant property prices and high EMIs are not the only problems that potential home buyers should be wary of. Their home buying plans can have serious implications on other financial goals, such as saving for their children’s education and marriage and their retirement. If the home loan EMI is too big, it will push other goals out of the financial plan. Worse, buyers like the Mehtas might have to liquidate existing investments to raise money for the downpayment. Though parents are unlikely to surrender child insurance plans and education related investments, retirement planning is easily sacrificed. “Younger people tend to think that retirement is an old age problem and defer the investment,“ says Shah of It is easy for investors to raid their retirement savings to fund their real estate dreams.You can take loans from the Provident Fund or the NPS for buying a house.Buy a house only if the purchase will not impact other goals. Otherwise, be ready for an asset-rich but cash poor retirement. Or not having enough money to send your child to a good college.

Home Loan Prepayment

I am a 26-year-old man, working in an MNC in Chennai. Last year I decided to buy a home for myself. Buying a home was my biggest dream and thanks to the lofty home loan policies that banks and HFCs are offering these days. I managed to buy a 2 BHK. Well, I succeeded in managing to bag loan from one of the government banks and got it at a reasonable interest rate.

Now, I am a satisfied person and secured that few years down the line, I will own my house. But one thing that always boggled my mind was if I wish to prepay my loan then what is the nitty-gritty associated with it. Since I work in private sector, I don’t have much time to run around the bank to fulfill the formalities and the paperwork.

Then, one of my friends suggested to go through LoanYantra, an online loan management company. Well, my association with LoanYantra proved to be a successful one and they gave great tips which definitely cleared the air that surrounded the idea of home loan prepayment. For many to avoid the hassle of running behind the banks, here I am sharing my knowledge of Home Loan Prepayment.

What is Home Loan Prepayment?

Home Loan Prepayment is paying an additional amount to the outstanding principal of the loan amount while you are in the Home Loan tenure. This additional amount is over and above the regular EMIs. This helps in reducing the principal outstanding which in return helps in reducing your EMIs and/or your home loan tenure.

It might sound easy but there is a slight catch. Banks typically levy a prepayment charge of about 2 – 3% of the outstanding loan amount. This amount is charged if you are repaying above a certain amount or you are switching your bank. Although most of the banks don’t charge extra. Thus, it’s advisable that you enquire while you apply for your home loan about the prepayment charges as well.

What You Should Know About Home Loan Prepayment 

Home Loan Prepayment can be a bit tricky as some lenders include extra fees.  In case of home loan, banks borrow funds based on the commitment for long period, these funds have to be re-assigned through credit channels for which bank has to pay additional cost. Thus, banks discourage the process of prepayment by leving an extra charge on the outstanding loan amount.

To Prepay the Home Loan, it is advisable for the concerned person to attend. If not possible,the authorized person needs to carry a letter which says that the respective person is authorized by the lender to repay the loan.

Note : RBI and the NHB have abolished penalty on home loan prepayment (home loans with flexible interest rate). So banks usually do not levy extra fess. But conditions apply.

Home Loan Prepayment Vs Tenure and EMI.

Home Loan Prepayment reduces the outstanding principal amount. So, this inturn reduces your EMI or tenure. It is always wise to calculate and choose.

Loanyantra’s Tip : It is better to reduce the tenure and keep the EMI constant. When you have an increment in the salary, you can increase the EMI which will reduce the tenure even further.

Do’s ad Don’t’s of Home Loan Prepayment:

  • Carry your ID proof (Aadhar is the most preferred one).
  • Carry your chequebook in case you need extra.
  • Also remember to mention your name, account number, home loan account number behind the cheque when you issue.
  • Collect all your previous cheques if you wish to change your EMI.
  • A proof of source of funds for your Home Loan Prepayment.
  • Make sure that you update your CIBIL database after home loan prepayment as it helps in reducing the outstanding balance and also helps in improving your credit score.
Home Loan Prepayment charges of some of the popular banks and HFCs
Banks and HFCs associated with Loan Yantra Home Loan Prepayment Charges
IDBI Not more than one prepayment in a month
DHFL 3% + Service Tax
Indiabulls ZERO
Axis Floating Rate Loan: Nil

Fixed Rate Loan: 2% of outstanding principal/amount prepaid


Words of Wisdom –

LoanYantra is committed to making a difference in the approach towards availing home loan and paying it back. We are known fro absolute customer satisfaction and we work on it continuously. Stay connected with us on and get a planned calender, timely alerts and valuable suggestions on Prepayment of your Home Loan.