A house door with your name on it is the ultimate dream of any living individual. In India, owning your own house is considered as one of the major signs of success. As the average income ratio of Indians is increasing with globalization, the desire to buy your own house is also increasing simultaneously. Along with this, the price of property too is increasing day by day, irrespective whether it's an urban or rural area. Thus it becomes highly impossible for a common man to buy a house only with his or her savings. This has lead to an increase and extreme popularity in purchasing home loans from Banks and NBFCs to fulfill their dream. Home loans is the best selling banking product. It also assures a stronger and longer relationship with your bank. A home loan that is also known as a housing loan refers to an amount borrowed by a consumer from a bank or NBFC to buy, construct, repair or renovate a residential property. This borrowed amount or loan is lent on a fixed or flexible tenure and an interest rate on the borrowed amount. The borrower is supposed to pay off the principal amount of loan with the interest within the fixed tenure.
| Bank Name | Intrest Rate | Bank Name | Intrest Rate |
|---|---|---|---|
| HDFC Bank | 8.70% - 8.85% * | Kotak Bank | 8.50% - 11.75% * |
| ICICI Bank Ltd. | 8.75% - 11.75% * | IDFC Bank | 8.75% - 11.50% * |
| Fullerton Finance | 8.50% - 12.00% * | Bajaj Finserv | 8.50% - 11.75% * |
| Axis Bank | 8.50% - 11.75% * | Induslnd Bank | 8.75% - 11.50% * |
| Poonawala Finance | 8.50% - 11.75% * | Aditya Birla Home Finance Ltd. | 8.55% - 8.99% |
| Yes Bank | 8.50% - 11.75% * | RBL Bank | 8.75% - 11.50% * |
| Ujjivan small finance Bank | 8.50% - 11.75% * | Shriram finance | 8.75% - 11.50% * |
| Clix Finance | 8.50% - 11.75% * | Loan Tab | 8.75% - 11.50% * |
| HDB Finance | 8.50% - 11.75% * | Induslnd Bank | 8.75% - 11.50% * |