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Best home loan apps in india 2024 | Top home loan providers in india

A home loan, also known as a mortgage, is a financial product provided by lenders to help individuals purchase homes. Borrowers receive a lump sum of money to buy a property and repay it over time with interest. The property serves as collateral, reducing the lender's risk. Loan terms vary based on factors like credit history and interest rates.

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Requirements to apply for home loan.

  • Good Credit Score: It requires a good credit score of 650 or higher.
    Click here to check your credit score for free

  • Proof of Income: Employment or a stable income source to ensure repayment capability.

  • Personal Identification: Valid ID, Adhaar Card, a driver's license or passport.

  • PAN card

  • 6 month bank statements or last 2 ITR (Income tax return)

  • Residential Proof: Verification of current address through utility bills or lease agreements.

  • Collateral (for secured loans): Assets such as a home or vehicle may be required for secured loans.(Only required when loan amount is high)
  • You will also need a miniumum downpayment which depends upon your credit score and loan amount.

There are best 10 home loan application in india currently.

1. HDFC Home loan

hdfc homme loan app

HDFC Home Loan is provided by HDFC Ltd., a prominent housing finance company in India. It offers financial solutions for home purchase, construction, renovation, and land acquisition. With competitive interest rates and flexible repayment terms, HDFC stands out as a preferred choice for home financing.

HDFC Bank offers low home loan interest rates starting from 8.55*% p.a to 9.40% p.a. The interest rate majorly depends upon the credit score of applicant and the loan amount, so it can very form person to person.

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2. ICICI Bank Home loan

icici bank home loan app

ICICI Bank Home Loan is offered by ICICI Bank, a leading financial institution in India. It provides financing solutions for purchasing, constructing, renovating, or expanding residential properties. With competitive interest rates, flexible repayment options, and quick processing, ICICI Bank's home loan services cater to the diverse needs of homebuyers across the country.

ICICI Bank home loan comes with a competitive interest rate at 8.75%* p.a. (8.75%* interest applicable to customers with pre-approved offers only.).

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3. Axis bank home loan

axis bank home loan apps

Axis Bank Home Loan is a financial product provided by Axis Bank, a leading banking institution in India. It serves as a financing solution for purchasing, constructing, renovating, or expanding residential properties. With competitive interest rates, flexible repayment terms, and efficient processing, Axis Bank Home Loan meets the diverse needs of homebuyers across the country.

The interest rate is 10.50% - 12.85% p.a.. For Self Employed Individuals ... 12.00% - 13.30% p.a.. The interest rate for the customer shall depend on their credit assessment.

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4. Indiabulls home loan

indiabulls home loan apps

India Bulls Home Loan is a financial service provided by India Bulls Housing Finance Limited, a major player in the housing finance sector in India. It offers assistance for various housing needs like purchasing, constructing, renovating, or expanding residential properties. India Bulls Home Loan provides competitive interest rates and flexible repayment options, catering to diverse homebuyer requirements.

The interest rate is 12.50% - 14.85% p.a.. For Self Employed Individuals ... 13.00% - 15.30% p.a..

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5. SBI home loan

sbi home loan apps

SBI Home Loan, provided by the State Bank of India, one of India's largest public sector banks, offers financing solutions for purchasing, constructing, renovating, or expanding residential properties. With competitive interest rates, flexible repayment options, and an extensive branch network, SBI Home Loan caters to diverse homebuyer needs across the nation.

Home Loan Interest Rates 8.40%* p.a. to 11.15% p.a.

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6. PNB home loan

sbi home loan apps

PNB Home Loan, offered by Punjab National Bank, a prominent public sector bank in India, extends financial support for purchasing, constructing, renovating, or expanding residential properties. With competitive interest rates, flexible repayment options, and personalized customer service, PNB Home Loan caters to the diverse needs of homebuyers nationwide.

The intrest rate of PNB is majorly depends upon the credit score of the applicant. It is between 6.60% p.a. to 12.50% p.a.

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7. LIC Housing finance home loan

lic home loan apps

LIC Home Loan is a financial service provided by LIC Housing Finance Limited, a subsidiary of Life Insurance Corporation of India (LIC). It offers various financing options for purchasing, constructing, renovating, or extending residential properties. With competitive interest rates, flexible repayment terms, and efficient customer service, LIC Home Loan caters to diverse homebuyer needs across India.

The intrest rate of PNB is majorly depends upon the credit score of the applicant. It is between 9.70% p.a. - 11.55% p.a. .

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While loan apps offer numerous benefits, borrowers should exercise caution, carefully review terms and conditions, and borrow responsibly to avoid overextending themselves financially.