Home buying in India has been much simplified with home loans. The loan is available widely and hence is accessible to a huge number of people. The loan comes at affordable pricing and as a result, people are able to purchase their own homes without much financial pressure. However, getting bank finance for home purchases has become very easy, meanwhile choosing the right lender has become a bit more difficult because of the wide availability and options. There are several home loan providers and finding out the best among all can be a challenging task for any home loan seeker.
Why do you need to select your home loan lender wisely?
A home loan is one of the biggest financial commitments of a lifetime. The loan amount of a home loan is always high and hence it comes with higher EMIs. The tenure period of a home loan is also the maximum of all other loans and ranges from 20 to 30 years.
Hence, even a little mistake in selecting a home loan lender can lead to big issues in the future. So, when planning to avail of a home loan it becomes very important to select a home loan lender wisely.
Here is a list of the best home loan providers for 2021.
SBI Home Loans
SBI is the largest Mortgage Lender in India, which has helped more than 30 lakh people to fulfil their dream of owning a home. The bank offers different types of home loan to suit the different requirements of its customers. Regular home loans, NRI home loans, Flexi Pay home loans, SBI pre-approved home loans, SBI Bridge home loans are some of the home loan products offered by SBI.
However, the features which make SBI one of the best home loan lender for 2021 is –
- Interest rate – 6.80%
- 100% waiver on processing fees*
- Special Concession Via Yono App & digital channels
- Maximum loan tenure up to 30 years
- No hidden charges and total transparent system
- Home Loan Available as Overdraft
- No Prepayment Charges
- Availability of Top-up and Balance Transfer Facility
- Availability of Credit linked subsidy (PMAY)
HDFC Bank Home Loans
HDFC is one of the top home loans provides in India and offers home loans with EMIs starting from ₹652 per lakh. The interest rates for HDFC home loans are also affordable and starts from 6.80%* p.a. HDFC also offers tailor-made home loans for salaried individuals. The bank provides legal and technical counselling to help their customers in making the right decision with their home loan. Another plus point with HDFC Housing Loans is that it offers online Home Loan solutions where you don’t need to visit a bank even once. So, get ready to live your dream with HDFC Home Loans, get great benefits such as a low-interest rate, longer tenure, affordable EMI, and online service.
HDFC bank home loan features-
- Interest rate -6.80% p.a
- EMI starting at 652per lakh
- Online consultation for legal and technical help
- Home Loan available to purchase, construct, renovate and buy land.
- Processing Fee & Charges: Up to 0.50% or ₹3,000 (whichever higher) + GST as applicable
- Minimum Loan Tenure: 1 year
- Maximum Tenure: 20 years
- Minimum Loan Amount: ₹100,000
- Maximum Loan Amount: ₹100,000,000
- Prepayment / Foreclosure Charges: NIL
ICICI Bank Home Loans
ICICI bank understands that buying a house is a dream for many and thus it provides you with best Home Loans to makes it simpler for those who want to turn their dream into reality.
ICICI Bank Home Loans offer you Home Loan solution and information to purchase/construct a new home or to renovate your existing home.
ICICI Bank home loan features-
- Interest rate – 6.90%* P.a
- EMI starting @ 5269
- Home Loans available at subsidized interest rates with Pradhan Mantri Awas Yojna
- Balance transfer facility available
- Exclusive offers for salaried customers
- Maximum Loan Amount: ₹30,000,000
- Maximum Tenure Period: 30 years
- Prepayment / Foreclosure Charges: NIL
Axis Bank Home
Axis Bank Home Loan can be availed for a minimum amount of ₹ 3,00,000 which helps one to fulfil their dream of owning a house. The Axis Bank Home Loan comes with benefits such as lower EMIs for a longer tenure at affordable pricing. The loan can be availed online and provides you with many facilities like easy doorstep service and quick loan approvals.
Axis Bank home loan features-
- Interest rate- 8.80%* p.a
- Smaller and affordable EMIs
- ¬The minimum loan amount is₹ 3, 00,000
- No pre-payment charges
- One can choose from Floating and fixed rates.
- Processing Fee & Charges: Up to 1% (min of ₹10,000) + GST as applicable
- Maximum tenure period up to 30 years.
These are the top home loan lenders of 2021 as per their home loan offerings and products. For more home, loan-related updates keep reading our blogs.