Are you dreaming of your owned house? Then we are here to offer you easy Home Loans with rich features and benefits. We have variety of Home Loan products from various banks which are designed keeping in mind the various requirements of our valuable customers. Also, in the past one year Reserve Bank of India (RBI) has reduced the interest rate by 25 basis points.

Top 5 Banks for availing Housing Finance

I- STATE BANK OF INDIA Home Loans

State bank of India is the leading bank in our country which offers the home loans to its customers at a very low and competitive interest rate. SBI captures almost 25% of the home loan market share in India. The processing fee has been waived on all the home loan products during the Festive offer period till 31st March 2016. The current rate of interest is 9.55%. Exclusive rate of interest for woman borrowers is 9.50% . You should be at least 18 - 70 years of age. The various schemes are offered by SBI such as Her Ghar, Loan for earnest money deposit, Tribal plus scheme, Takeover of home loans. One can find a perfect solution of his or her housing loan need in the above mentioned schemes.

II- ICICI Bank Home Loans

ICICI Bank offers home loan to its valuable customers at the rate of 9.55% up to 30 crores. Special rate for woman borrower and weaker section is 9.50% up to 30 crores and 9.75% above the loan amount of 30 crores. Longest repayment tenure of 30 years is being offered by ICICI Bank. The processing fees for the loan vary from 0.5% to 1% of the loan amount. Customer can switch from fixed rate option to floating rate option by paying switch fees of 0.50% on the outstanding balance. Nil prepayment charges for Home loans with floating rate of interest. Minimum Foreclosure charges are taken from customer at the time of foreclosing the loan. Documents are safely handed over to customer once the loan is paid off.

III - HDFC BANK Home Loans

HDFC bank Home loans have been a very popular name in the Home loan market. Most people prefer HDFC Bank when it comes to housing finance. HDFC offers various home loan products such as Home improvement loans (HIL), Home Extension Loans (HEL) etc. Special loans are available for agriculturists, planters, horticulturists, dairy farmers. Bank offers a flexible tenure of 30 years. The current rate of interest is 9.50% for woman borrower. And to others bank offers a reduced and attractive rate of 9.55% .Subvention loans is one of the most helpful feature of HDFC, in which loan offered is in tie up with the builder.

IV- AXIS BANK Home Loans

Axis bank offers home loans with various schemes to satisfy the end need of its customers. Bank offers home loan at an attractive floating rate of interest i.e 9.60% for loan amount up to 28 lacs. And 9.65% for loan amount more than 28 lacs. Home loan with fixed rate of interest is 11.75%p.a. Quantum of finance is up to 50 lacs in metro cities and 40 lacs in other cities.

The processing fees of 1% is charged from customer, subject to minimum of Rs. 10,000/-. For most prompt repayers Axis bank offers various schemes like Happy ending in which last 12 months Emi is waived off and Empower Loans in which rate of interest is reduced in between. Switching option is also available with axis bank.

V- DHFL Home loans

DHFL is one of the leading Non banking financial corporations in the Home loans market. It offers Home Loans at the rate of 9.55% to its customers. Varies schemes are available with DHFL such as home improvement loans, home construction loans, home extension loans, plot loan , land loan, home loan balance transfer, plot and construction composite loans. These various schemes attracts a larger customer base. Processing fees of 5000/- is charges for loan amount up to 30 lacs, 10,000/- (loan amount 30 lacs to 75 lacs) and 20,000/- for loan amount above 75 lacs.

Flexible repayment tenure of 30 years is offered by DHFL. Get Maximum Tax benefit under Home Loan scheme. As per Indian IT Rules, the current applicable exemption u/s 24 is 1.5 lacs for the interest amount paid in a financial year and up to `1 lac for the Principal amount repaid in the same year. Thus up to`2.5 lacs is tax exempt, helping you save up to `70,000 tax annually.

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